Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Toorak

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The Melbourne chef Shannon Bennett and his actor wife Madeleine West, who is currently starring in The Wrong Girl, have bought a Toorak trophy home.
The mansion on Lansell Road was sold by millionaire Melbourne pub owner Mazen Tabet.
Tabet relisted the five-bedroom house on a 1514sq m block with price expectations of about $20 million.
Kay &amp; Burton, look over the listing in May with an adjusted price guide.
Their new home spreads across four levels, which are connected by a lift.
It features multiple living areas, a large kitchen, five bedrooms, four ensuites plus a family bathroom, and a rooftop terrace with city views.
The price has been speculated as $17 million.
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Melbourne chef Shannon Bennett buys Toorak trophy home

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<div>
Tim Gurner, the rich lister who told young people to stop buying smashed avo brunches so they could afford to buy a home, is selling his Toorak trophy home.
</div>
Property developer Tim Gurner and wife Aimee are selling with price hopes of $8.3 millions to $9.1 million.
They have called the 1930s English-style six-bedroom Christopher Doyle-designed house, which is in Ms Gurner’s name, since 2014 when it cost $5.3 million.
Offers for the property close on September 19 with Marshall White agent Marcus Chiminello.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/04/244%20Kooyong%20Road.jpg" alt="">
Gurner controversially suggested young people needed to stop “buying smashed avocado for 19 bucks and four coffees at $4 each” if they wanted to own a home in a 60 Minutes interview in May.
“When I was trying to buy my first home, I wasn’t buying smashed avocado for 19 bucks and four coffees at $4 each,” told the television show.
Gurner was ranked 157 on this year’s Financial Review Rich List. 
Set on a 1204sq m block with a separate guesthouse, lush gardens and a heated pool and spa.
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Tim Gurner lists trophy home in Toorak 

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The 1908 Toorak trophy home Glyn has finally settled, with the buyer emerging as JB Hi-Fi CEO Richard Murray and his partner Jacqueline Blackwell.
The couple paid $11 million for the home of lawyer Andrew Fairley and corporate adviser, Jane Stuchberry.
It's less than the $12 million plus hopes it was listed for in May last year.
The luxury Rodney Alsop designed arts and crafts style home has gabled roofs, prominent eaves and artisan features.
Restored in recent times, the six bedroom home built for BHP founding shareholder Sir Edward Miller features a tennis court and heated pool.
It previously traded at $5.1 million in 2003 when sold by recruiter Lorraine Tribe.
Kay &amp; Burton agents Darren Lewenberg and Ross Savas sold the home.
The buyers have since sold in Camberwell for $8 million.
This article first appeared in The Weekend Australian Mansion Australia section.
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Settlement final on 1908 Toorak trophy home Glyn

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The redundant Toorak home of former ANZ CEO Mike Smith and wife Maria has been bought by a member of the property developer Schiavello family for $12 million.
Officially, its been bought by Gabriella Starzynski, granddaughter of the late Stella Schiavello, with the price coming through at less than expected.
It's $3 million less than the botched $15 million sale late last year. The prospective Chinese buyer failed to complete the purchase which prompted the re-listing.
Set in landscaped gardens with mature French lime trees, the five bedroom home comes with pool and a tennis court wrapped in hedging. 
It was designed by architect Wayne Gillespie with renovations by Rob Mills.
The Smith's paid $9.75 million for the Hopetoun Avenue home in 2008.
They are now based in South Yarra where they paid $6 million for the Isis penthouse apartment of former Olympic Committee member Kevan Gosper.
They retain the landmark Spray Farm winery on the Bellarine Peninsula.
Mike Smith and his wife, Maria bought historic Spray Farm at Bellarine in 2014.
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Schiavello family buy former ANZ boss Mike Smith's Toorak home

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<div class="gmail-cq-article-content-paras gmail-section">
A reputed record $40 million has been paid for a Toorak mansion by the mystery Chinese buyer, Qi Yang.
The grand 1920s home at 18 St Georges Road was bought from the Darling family in an off-market deal which has yet to settle.
Mowbray, a five-bedroom two-storey, stretches across around 5000 square metres includes a pool and tennis court with changing room and a self-contained guest wing.
A Stonnington Council report from 2014 states that the house was built by noted architect Christoper Cowper.
The house was not protected by heritage overlay.
</div>
<div class="gmail-cq-article-content-paras gmail-section">
The sale of the Mowbray estate exceeded the prior record of $26.25 million paid by Netflow managing director Phil Dreaver last year for the modern 9 Towers Road mansion owned by the Besen family.
Mowbray was sold by former Mirvac director Marina Darling and husband Anthony who acquired it from venture capitalist Roger Allen and his wife Dianne for $4.9 million in 1995, the highest sale in Melbourne of that year. It sold at $3.95 million in 1987.
The Australian speculated the buyer may be a Chinese citizen who may be subject to FIRB approval.
Though The Australian Financial Review advised Mr Qi had received Foreign Investment Review Board approval.
He will be be hit with a $5 million stamp duty bill, including a 7 per cent surcharge for foreign buyers in Victoria, which came into effect in July last year.
In addition, the Australian Tax Office has FIRB application fees of $412,000 applying for a $40 million home.
The buyer also faces the prospect of an annual land tax bill of about $370,000 if the Toorak mansion is not their principle place of residence and another $300,000 in annual taxes from January 1 next year when a proposed new annual vacant residential property kicks in for homes vacant for more than six months in a calendar year.
The sale was mooted in July.
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The $40 million Toorak trophy home sale details emerge

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A one bedroom Toorak unit has sold for $250,000 making it Melbourne’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-apartment-vic-toorak-126010958" target="_blank">47/145 Canterbury Road</a>, the property was marketed as an entry-level property.
Built in 1970, the 36 sq m space was last sold in 1999 for $113,000.
It is situated in a corner position and features a galley kitchen that is adjacent to the living and dining space that offers views of the garden.
There is a large bedroom with its own built-in robe and a fully tiled bathroom.
Other features includes basement car parking and access to gym.
The property is moments from public transport, Toorak Village and a park.
The property was offered through LITTLE Real Estate agent Rob Exell.
Another one bedroom Toorak unit at <a href="https://www.realestate.com.au/sold/property-apartment-vic-toorak-124387926" target="_blank">84/145 Canterbury Road</a> was sold in February this year for $240,000.
Built in 1980 it last sold for $215,000 in 2013.
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One bedroom Toorak unit sold for $250,000

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A Toorak mansion sold at auction two months ago for $19.1 million has resold to the underbidder at a reported $16 million after the original buyer failed to pay their deposit.
Businessman Craig Harwood and his wife Natalie, underbidders at the late May private auction, bought the newly built home from the developer Chris Holland.
Orna Ida, the wife of expatriate businessman Yoav Ida, lifted a caveat she had placed on the five bedroom property after the Abercromby's auction, records show.
The Australian Financial Review noted Ms Ida did not complete the purchase, or even pay the deposit, but by putting a caveat on the property she was able to delay the owner from selling
The May sale was nearly $5 million above the quoted pre-auction price range.
Harwood last year sold his security company Securecorp Australia and associated properties to Shanghai-listed China Security &amp; Fire for a reported $157.5 million.
 
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Toorak mansion resold at $16 million to the $19 million underbidders

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Premier Investments chief executive Mark McInnes and wife Lisa Kelly have paid around $12 million to buy back into Toorak.
The former David Jones boss has reputedly bought a Stephen Akehurst designed family home in the <a href="https://www.realestate.com.au/sold/property-house-vic-toorak-125302822" target="_blank">Stonnington Place dress circle</a>.
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The home has five bedrooms and four bathrooms. The palatial master suite has a gas firepalce, dressing room and carrara marble ensuite.
The 1,280 sqm resort-style grounds feature a floodlit mod grass tennis court, swimming pool and pool house.
They are overlooked by terraces that lead from the ground level of the home. They feature a central barbecue kitchen, dining areas and an outdoor fireplace.
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There's also basement garaging for more than eight cars.
Kay &amp; Burton agents Gowan Stubbings and Nicole Gleeson sold the home.
The couple had been renting in Malvern since selling Sark, their short-lived Hopetoun Avenue trophy that they sold after just nine months of ownership for $10.95 million.
They had paid $9.25 million.
  
 
 
 
 
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Premier Investments chief executive Mark McInnes buys back into Toorak

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Frank and Sharon Van Haandel, owners of the Stokehouse, have bought an $8.65 million Toorak mansion having sold in South Yarra.
It was the longtime home of veteran Melbourne caterer Peter Rowland and his wife Susan.
The <a href="https://www.realestate.com.au/sold/property-house-vic-toorak-124803974" target="_blank">elegant Parisian style home</a> reflects the scale and symmetry of 18th century Île de France architecture complete with large banquet hall with antique limestone fireplaces.
Its facade was such a hit on its early 1990s completion that a spate of copycat homes followed in the neighbourhood. 
It's got a hidden underground garage entrance beneath its tree lined driveway, described as 'James Bond-style' by the listing agents.
Inspired by the trapdoor spider, a lid lifts up on the pebbled driveway to reveal a slope down to the basement art gallery with six car garage.
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There's a private paved northeast garden with heated pool on the 748 sqm parcel.
They had $10 million hopes on its listing through Marshall White.
The Van Haandel's scored $12.3 million for their former South Yarra home when they were approached for the off-market deal.
It was bought by Swisse vitamins chief executive officer Radek Sali and wife Helen.
This article first appeared in The Weekend Australian Mansion Australia section.
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Frank and Sharon Van Haandel buy Toorak trophy home

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Fells Boutique designer Fay Shinewell and her husband Gordon have listed their Toorak home after over three decades of ownership.
The couple paid $390,000 for the <a href="https://www.realestate.com.au/property-house-vic-toorak-125508970" target="_blank">1940s home</a> in 1986. It now comes with a price tag of $3,975,000 after an auction had been scheduled last weekend.
The solid brick home on Turnbull Avenue comes with four bedrooms, two bathrooms and a study. 
A family room opens to a classical paved alfresco area in botanic terraced gardens.
Rodney Morley of Rodney Morley Real Estate has the listing.
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