<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Sydney

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The latest listing of the Regency Revival-style mansion Jenner House in Potts Point will be a three ring circus.
It has been listed with $20 million hopes by Barry Goldman of Raine &amp; Horne Double Bay, Jason Boon of Richardson &amp; Wrench Elizabeth Bay, and Michael Pallier of Sotheby's International.
<a href="https://www.rwebay.com.au/1600085/" target="_blank">The restored heritage-listed residence </a>has held the Potts Point record at $15 million since 2009 when luxury car dealer Terry Mullens and his wife Wendy bought the imposing property.
It had been sold unrenovated by horse breeder Tony Peterson.
<a href="/news/jenner-house-potts-point-record-setting-trophy-home-listing">It was briefly listed for sale</a> in May 2013.
Recent research suggests the home was once occupied by King George V while he was serving in the Royal Navy.
Peterson had secured the property from the Department of Defence for around $6 million when it sold its redundant Garden Island precinct holdings in the mid-1990s.
The now three-storey home is set on a 1970-square-metre Macleay Street block.
Built with a mix of Victorian and Italianate styles for wealthy merchant Lebbeus Hordern, the 1870s home is one of the district's surviving marine villas.
Originally known as Stramshall, named after patriach Anthony Hordern's English birthplace, Jenner was built by the colonial architect Edmund Blacket. It was also known as Kurrahjeen from 1880 to 1885 and Lugano from 1888 to 1911. Its current name was bestowed on it in 1914.
In the meantime <a href="/news/nsw/bomera-the-potts-point-italianate-sandstone-beauty-sells">Bomera on Wylde Street</a> was sold for $12.5 million after its restoration by Jorge and Monica Fernandez to Leanne Catelan, the daughter of the late property data entrepreneur Ray Catelan.
<a href="/news/miner-stephen-turner-mooted-rockwall-house-potts-point-trophy-home-buyer">Lilian Barclay sold her Georgian villa, Rockwall House for around $11 million to a local mining tycoon</a> earlier this year.
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jchancellor-FAypfDUnLy

Jenner House, Potts Point seeks $20 million buyers

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Sydney's cheapest long weekend sale was $348,000 at Auburn.
It sold pre-auction, as did many of the weekend offerings.
As soon as it was sold by First National Auburn Waters &amp; Carpenter, the investor buyer put <a href="https://www.firstnational.com.au/buy-residential-real-estate/apartment-unit-3-88-station-road-auburn-nsw-11421100562" target="_blank">the three bedroom 88 Station Road apartment</a> for lease pending its settlement.
Seeking $400 a week, the sale thereby reflects a 5.9% rental yield. It last sold at $230,000 in 2005.
Sydney agents secured 73.7% success rate from the initial 300 results. There are another 93 results yet to be tabulated by Australian Property Monitors.
<a href="/news/leichhardt-forges-another-residential-record-for-former-fire-station">Leichhardt has a new suburb record</a> with the current record-holder home selling on the long weekend for $3.05 million.
Set on 658 square metres, the four-bedroom, four-bathroom home <a href="https://www.realestate.com.au/property-house-nsw-leichhardt-116876611" target="_blank">sold through Ray White Inner West's David Eastway</a>. With that much land it is about three times bigger than the typical Leichhardt block.
It was sold by the banker Ashley Salter and his wife, Paspaley Pearls creative director, Christine Salter.
{qtube vid:=ZXtDXy8QCE}
The former Victorian fire station had been renovated by French antique furniture importers Bob and Helen Hargreaves, of Le Forge, who sold in 2007 for<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-leichhardt-nsw-2040/50202" target="_blank"> a record $2.45 million</a> through McGrath.
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Auburn three bedroom apartment sells to investor in weekend's cheapest auction offering

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It’s becoming a trend – well-located dumps selling for prices that would normally be achievable by trophy homes.
But, property owners shouldn’t go knocking walls in and stripping carpets from floors in an effort to get in on the action. It’s all about two things:
<ol>
<li>The buyer 
</li>
<li>The block</li>
</ol>
Property Observer notes that while the sales appear to be becoming more frequent, so-called “crazy Sydney prices” have been achieved by “dumps” for years.
For instance, in 2011 the termite-infested 58 View Street, Annandale sold for $800,000, $150,000 over reserve.
And 20 Union Street, McMahons Point, which was actually marketed by Blues Point Real Estate as “The Dump” (including on the signboard) snapped up $1,905,000 in June last year noting it was suited for builders, renovators and handymen. The 1880s terrace required a “total overhaul”.
Here are some of the most recent dumps achieving trophy home prices.
Stanmore - $923,000 sale
<img src="/images/2014/06/10/stanmore%20june%2010%20one.jpg" alt="">
This terrace home at <a href="https://www.realestate.com.au/property-house-nsw-stanmore-116950047" target="_blank">19 Durham Street, Stanmore</a> reportedly had more than 20 parties registered to bid.
The two-bedroom property saw bidding open at $600,000, according to the Inner West Courier, and sold to a builder – the majority of the interested notably came from developers and builders.
<img src="/images/2014/06/10/stanmore%20june%2010%20two.jpg" alt="">
<img src="/images/2014/06/10/stanmore%20june%2010%20three.jpg" alt="">
It hadn’t been on the market since its 1937 build and the two-bedroom, one-bathroom property was listed for auction as a deceased estate.
On 172 square metres, the agent described it as an art deco “very, very basic terrace” in “TOTAL disrepair” but on the best street. Photos show that there were holes in different surfaces as well as rubbish and dirt strewn around.
Leichhardt - $980,000 sale
<img src="/images/2014/05/26/leichhardt%20may%2026%20seven.jpg">
This property in Sydney’s inner west, in desperate need of renovation, was sold last month for just shy of $1 million, and had been empty for 20 years.
The <a href="/expert-insights/buying/rotting-leichhardt-shack-sells-for-just-shy-of-1-million">80 Edith Street house had an $800,000 opening bid, Jonathan Chancellor reported</a>, and was on 278 square metres.
<img src="/images/phocagallery/2014/05/leichhardt-may-26/liechardt_0003_leichhardt%20may%2026%20three.jpg.jpg">
It had development approval for a new home, and initial expectations were for $850,000 plus.
The rebuild is expected to net $1.6 million plus.
Redfern - $1.025 million
<img src="/images/stories/2014/02/03/red1/redfern_0000_1.jpg.jpg">
The February sale of a<a href="/news/redferns-median-house-price-hits-1-01-million-as-termites-dont-stop-debut-2014-auction-success"> “near knock-down” property at 48 Chelsea Street, Redfern came in $75,000 above reserve</a>.
The public trustee auction did require that the weatherboard timber façade would be kept under City of Sydney guidelines.
<img src="/images/stories/2014/02/03/red1/redfern_0002_3.jpg.jpg">
It was on 108 square metres and was marketed as “ripe for renovation”.
The buyer was from a family of builders.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
Mona Vale - $1.8 million
<img src="/images/2014/06/10/mona%20vale%20june%2010.jpg" alt="">
Sold at auction in February, it was up for sale for the first time in 50 years, and was a timber and sandstone cottage on a 565 square metre block.
Including ocean and beach views, the advertisement noted that 93 Narrabeen Park Parade needed “substantial rejuvenation or demolition” of the two-bedroom, one-bathroom home.
Tennyson Point - $3,788,000
<img src="/images/2014/06/10/tennyson%20point%20june%2010.jpg" alt="">
Sold in September last year <a href="https://www.realestate.com.au/property-house-nsw-tennyson+point-114600047" target="_blank">27 Beach Street </a>was snapped up by a family who spends most of the year in China and are intending to live in the home, Domain noted.
The fibro cottage is on a waterfront site, and includes 1,120 square metres of land with 20 metre frontage.
Property Observer notes that the few images available suggest it is in slightly better condition than some of the other “shacks” on the market, but the 1950s home was advertised as presenting the opportunity to “modernise, further develop or rebuild and create the dream lifestyle in an amazing location (STCA).”
With “one of the largest stretches of tidal sandy beach available on the bay” the level of interest is unsurprising.
Bondi Beach – approx. $15 million
<img src="/images/2014/06/10/bondi%20june%2010%20one.jpg" alt="">
And then there’s this <a href="/news/bondi-beach-knock-down-sydney-school-architecture-mansion-fetches-around-15-million">intense late-September sale of 23 Wilga Street</a>, as reported by Property Observer.
The three-storey brick home was on the market for the first time in 53 years, and after passing in at auction sold afterwards for around $15 million, although the price and buyers remained undisclosed.
Previously, triplex apartment developers were keen, offering around the $10 million mark, however suggestions are that it was an owner occupier who finally snapped up the property.
The site was advertised as ready to “contemporise or reinvent” and includes 700 square metres of land with substantial frontage, including ocean views that “can never be built out”.
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jduke-EHk3XBmHkn

The Sydney dumps that sold for trophy home prices

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McGrath Estate Agents now expects more than $850,000 for Lara Bingle's Darling Point apartment.
The agency initially was quoting more than $825,000 for the stylish one-bedroom that is set for <a href="https://www.mcgrath.com.au/buy/apartment-darling-point-nsw-2027/225301/?searchID=39312079" target="_blank">14 June auction through Richard Bonouvrie</a>. 
The model bought it from interior designer Blainey North for $882,000 in 2010, soon after her break-up with Test cricket captain Michael Clarke.
It is a Goomerah Court company title art deco apartment apartment with city and harbour views from most of its 65 square metre space. 
There have been two other McGrath sales in the block when $925,000 was secured for <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-darling-point-nsw-2027/76865" target="_blank" style="line-height: 1.3em;">a two bedroom unrenovated listing</a> and then a <a href="https://www.mcgrath.com.au/buy/apartment-darling-point-nsw-2027/193910/?searchID=38820498" target="_blank" style="line-height: 1.3em;">renovated two bedroom sale last October</a> at around $800,000 which Title Tattle suggests would explain the initial pricing estimate.
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Lara Bingle Darling Point apartment gets upward price guidance revision

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Catherine Verschuer, wife of Westpac's managing director of foreign exchange and commodity Paul Verschuer, has emerged as the $5.2 million buyer of the Reserve Bank's Kirribilli property, Eversley. 
<a href="/expert-insights/buying/rba-sells-kirribilli-mansion-securing-impressive-7-8-annual-price-growth">It sold at March auction</a> through Kingsley Yates of Ray White Lower North Shore.
The couple own a nearby Victorian terrace on Peel Street which cost $2,775,000 in 2007.
Last year Title Tattle featured the Verschuers when they bought <a href="/news/nsw/notting-lane-cottage-point-waterfront-with-disco-sold-for-3-35-million-by-drew-muirhead">the Cottage Point mansion</a> of entrepreneur Drew Muirhead for $3.35 million.
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Westpac foreign exchange dealer buys RBA's Kirrbilli mansion

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Sydney’s apartment growth has been nothing short of amazing recently, and BIS Shrapnel has forecast in their Apartments in Sydney Suburbs 2014 to 2019 report that there are five local government areas expected to attract the most new high density apartment approvals over this period.
For the five years to 2018/2019, thousands of new apartments are expected per annum.
Here are the top five LGAs:
<ol>
<li>
City of Sydney Unsurprisingly, the City of Sydney tops the list with an expected 3,700 apartments per annum. The report notes that this is still, by far, Sydney’s main location for apartment development. It is under considerable occupier demand and offers “ample supply potential”. 
</li>
<li>
Parramatta LGA In what also could have been guessed by those keeping a close eye on the news, the fast growing Parramatta area is expecting a significant injection. This should see around 1,600 new apartments per annum, and will be in both the city centre and surrounds. Already, growth forecasts for this secondary CBD are significant. Increasingly, <a href="/expert-insights/buying/development-application-submitted-for-one-of-parramattas-tallest-towers">stories about the newest tallest towers are being seen for Parramatta</a>. A <a href="/expert-insights/buying/chinese-developer-taking-550-million-step-into-sydney-with-11-towers-in-parramatta">$550 million step into Parramatta is also being taken by a Chinese developer</a>, planning to bring 11 new towers, called Promenade, to the area. 
</li>
<li>
Ryde LGA A total of 1,200 apartments per annum are expected, particularly due to the Epping to Chatswood railway opening up major sites for new development. Areas have been <a href="/news/macquarie-park-village-secures-same-day-378-apartment-sales-on-initial-north-ryde-offering">opened up to high density development due to this decision already</a>. 
</li>
<li>
Auburn LGA With 1,100 apartments per annum expected, activity is expected to be focused around Wentworth Point, Olympic Park and town centres along the rail corridors through the council area. 
</li>
<li>
Ku-ring-Gai Shire And last on the list is Ku-ring-Gai expecting 900 apartments per annum. The area is apparently a consistent performer, usually attracting higher levels of development along the North Shore rail line.</li>
</ol>
For more of the findings of BIS Shrapnel's latest report, you can <a href="/expert-insights/buying/sydney-slowdown-fears-premature-15-unit-growth-tipped-over-next-two-years-bis-shrapnel">read Property Observer's summary here</a>.
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The five Sydney areas expecting to see the most high density apartments: BIS Shrapnel

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A new report from BIS Shrapnel has said that recent concerns around a Sydney property market downturn are “premature” with strength expected over 2014/2015 and 2015/2016.
Just yesterday, <a href="/expert-insights/buying/four-reasons-the-property-boom-is-ending-propell">Propell National Valuers predicted that the property boom in Sydney is ending - for these four reasons</a>. Terry Ryder suggested that <a href="/expert-insights/investing/no-substance-behind-sydney-property-boom">the property boom is without "substance"</a> in November last year, and <a href="/expert-insights/buying/median-values-fall-for-the-first-time-in-a-year-lets-get-some-perspective">RP Data noted the first median value decline since May 2013 last month</a>.
According to BIS Shrapnel, behind the strength of the property market are low vacancy rates, low interest rates, relatively attractive yields and the expectation of capital gain.
BIS Shrapnel’s Apartments in Sydney Suburbs 2014 to 2019 report points to strong off the plan sales, which will underpin further rises in new high density apartment construction.
No oversupply is expected, but vacancy rates should ease and reduce pressure on prices “by the time the Reserve Bank starts looking at tightening interest rate policy” the report notes, suggesting that off the plan sales will come off their peak over 2016.
Senior manager and report author for BIS Shrapnel, Angie Zigomanis, said that the peak in apartment prices and sales by 2004 did result in the market being overvalued and oversupplied.
“The subsequent downturn resulted in the oversupply being absorbed by 2006/07, but it took several more years of rental growth before returns increased sufficiently for residential property to become attractive to investors again,” said Zigomanis.
“By the time interest rate policy was eased at the end of 2011, the Sydney market was coiled like a spring, and ready to take off,” he said.
“Successive cuts to interest rates continued to reduce the gap between rental income and mortgage repayments, causing investor demand to surge and drive up prices.”
KEY FIGURES
$45 billion
Total borrowed in the 12 months to March 2014 for the purchase of residential property in New South Wales
76%
The proportion this is above the 2010/2011 total
9,932
High density dwelling approvals in 2010/2011
20,354
High density dwelling approvals in the year to March 2014
18%
The estimated amount Sydney unit prices have risen over the past two years
15%
Forecast increase in unit prices over the next two years
Overseas buyers’ influence was also noted by Zigomanis, noting they’ve been buying apartments within inner Sydney and selected centres.
Gen X and Gen Y are also starting to contribute, with owner occupiers’ presence growing. Notably, however, investors are still the overarching dominance in the Sydney apartment market.
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Sydney slowdown fears “premature”, 15% unit growth tipped over next two years: BIS Shrapnel

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The high profile investor syndicate of John Singleton, Gerry Harvey and Mark Carnegie have spent $80 million to buy the Entertainment Quarter at Moore Park.
Known as the 'three amigos', the trio see the potential for redevelopment at the Centennial Park location.
''We - John Singleton, Katie Page, Mark Carnegie and I - visited it a couple of times and realised it was hard to get 11 hectares with development opportunities and its location, anywhere else in Sydney,'' Harvey told Fairfax Media.
He signalled about 26,000 square metres within could be readily redeveloped after consultation with the local residents.
"We will look at all options, including a hotel, pubs, serviced apartments and an updated retail sector,'' Harvey suggested.
The syndicate's portfolio has centred on hotel acquisitions.
The 11.08 hectare site centres around the Bent Street retail precinct and the former Sydney Showground show-ring.
CFS Retail Property Trust listed its leasehold interest in The Entertainment Quarter through Sam McVay from McVay Real Estate who secured the offer from the consortium headed by the Carnegie Private Opportunities Fund No. 1.
The sale of the mixed use asset focused on retail, entertainment, leisure and space in the Centennial Park precinct is conditional on the approval of the ground lessor and the NSW government. 
CFS and one of its wholesale funds, CFSGAM Property Retail Partnership, jointly hold a leasehold interest in the asset. The most recent CBRE valuation as at December 2013 was $63 million, with no vacancy rate, however down on its mid-2013 valuation of $66.4 million.
Michael Gorman, the deputy CEO, said the sale was in line with its strategy of divesting non-core assets.
It was sold by the CFS almost 10 years after it was bought from Rupert Murdoch's News Corporation and the developer, Lend Lease.
Photo courtesy of J Bar/ <a href="https://creativecommons.org/licenses/by/2.5/" target="_blank">Creative Commons</a>.
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'Three Amigos' buy Moore Park's Entertainment Quarter

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The sale of the Potts Point Georgian villa Rockwall House appears a little less mysterious, with word from the neighbourhood that an Elizabeth Bay mining tycoon is its buyer.
It sold for an undisclosed $10.2 million last month, the suburb's third-highest house price.
The biggest clue came when the contents of the 1830s-era house were recently auctioned through Mossgreen Auctions.
Title Tattle noticed the keenest bidding came from mining industry magnate, Stephen Turner, a non-executive director of Iluka Resources Limited, the world’s largest producer of zircon, and his wife, Phi Phi, aka FiFi.
<img src="/images/2014/06/05/potts-point-june-5-one.jpg" alt="">
Stephen and Phi Phi Turner at the Rockwall House, Potts Point contents auction
 Stephen Turner has delivered resource projects in Australia, Southern Africa, Fiji, New Caledonia and the Solomon Islands. 
He headed International Ferro Metals Limited for seven year, which produces over 3% of global ferrochrome supply. He's non-executive chairman of Vantage Goldfields Limited, an Australian gold company operating in South Africa. The charter accountant was a founding director of the Australian subsidiary of PSG Investment Bank, then South Africa’s fifth largest investment bank.
The property developer Mirvac, who built the adjacent Rockwall apartment complex, had its restoration overseen by heritage architect Howard Tanner.
The heritage-listed villa designed by architect John Verge last traded in 1999 when bought it for $2 million.
Relisted last December <a href="https://www.blacketglasgow.com.au/property/Potts%20Point/Rockwall/listing" target="_blank">through Peter Blacket of Blacket &amp; Glasgow</a>, it was offloaded by antique enthusiast Lilian Barclay-Rollason, the partner of solicitor John Rollason, who first sought to secure its sale in 2011 with $13 million hopes.
The couple married at the house on April 26 in 2008, though the title remained in her name only.
John Cameron Rollason was for a number of years a partner at Gadens and then a contractor consultant to Lane &amp; Lane from 1996.
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Miner Stephen Turner mooted Rockwall House, Potts Point trophy home buyer

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The 165 room Vibe Hotel on Sydney’s North Shore at Milsons Point, has been listed for sale with approval for 87 residential apartments and 10 commercial suites over 16 floors.
It has been listed by a syndicate associated with Greg Shand’s Barana Group through CBRE’s Scott Gray-Spencer and JLL agents James Aroney and Robert Sewell.
The address at <a href="https://cbre.realcommercial.com.au/property-land+development-nsw-milsons+point-501162175" target="_blank">88 Alfred Street</a> could attract Chinese developer interest.
The 1545 square metre holding was bought for $3.166 million in 2003.
There is a Bates Smart design available for the buyer with six month vacant possession if required.
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