Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Asx Listing

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PropertyGuru, one of south east Asia’s leading property technology companies, has lodged a prospectus with ASIC to list on the ASX.
Assuming the final price is midway of the indicative price range of A$3.70 to A$4.50, the offer will raise approximately A$363 million. 
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The business was founded in Singapore in 2007 by Steve Melhuish and Jani Rautiainen having sensed a dynamic real estate market with no online platform.
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Recently Credit Suisse analysts have suggested the Asian online real estate listings business could be the next ASX-listed unicorn, a potential $1 billion-plus listing on the Australian Securities Exchange.
PropertyGuru operates digital property classifieds marketplaces in five countries across Southeast Asia – Singapore, Vietnam, Malaysia, Thailand and Indonesia.
It claims its market share of the online real estate marketplace as:
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◼  72% in Singapore 
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◼  42% in Malaysia
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◼  45% in Thailand
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It is the destination of over 23 million property seekers to find their home every month.
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 The group has 60 percent consumer market share across its core markets, which is reportedly significantly greater than its nearest competitor.
Over the past twelve years, the Group has grown from a single-market start-up to a diversified PropTech company.
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It has previously raised over S$400 million in funding to date including new capital and shareholder selldown over four funding stages involving large institutional investors, including TPG, KKR, Emtek and Square Peg Capital with over 130 staff dedicated to R&amp;D,
With over 45,000 active agents, the real estate portal has a revenue model that is predominantly subscription-based, where agents currently pay upfront fees for an annual subscription that provides them with a number of discretionary credits.
It recently appointed Olivier Lim as independent chairman as well as Jenny MacDonald and Melanie Wilson as independent non-executive directors to its board in preparation of the ASX listing.
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The appointments of Mr Lim, Ms Macdonald and Ms Wilson are part of a broader exercise to evolve the property technology company’s corporate governance in tandem with its growth trajectory and the increasing scale of its business, PropertyGuru said.
“The new directors bring even greater diversity, breadth and depth to the board,” the company added.
The team is headed by our Chief Executive Officer, Hari V Krishnan, who has two decades of senior executive experience in leading technology firms in Asia and the United States.”
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PropertyGuru is the ASX's next unicorn: Credit Suisse

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Rate My Agent has debuted on the ASX with its $92 million ASX float appraised as worth $75.4 million on its first day close-of-trade. 
RMA Global — which operates the Rate My Agent real estate agent comparison site — made a lukewarm debut yesterday, the <a href="https://stockhead.com.au/tech/disappointing-asx-debut-for-rate-my-agent-comparison-site/" target="_blank">stockhead</a> website suggested.
RMA raised $12 million selling 48 million shares at 25c each.
The stock opened its first day of trade at 24c and fell as low as 19c before closing at 20.5c — an 18 per cent drop on its issue price.
It was trading at 20 cents in early trading today.
About $1.5 million worth of shares changed hands.
Click here <a href="https://www.propertyobserver.com.au/images/2018/7/6/RMA%20graph.JPG" target="_blank">to enlarge.</a>
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Rate My Agent allows punters to rate the agent and agency that helps them to buy and sell property.
RateMyAgent was formed four years ago
RateMyAgent, which allows home owners to search online and compare real estate agents, has recently been caught up in controversy over underquoting estate agents in Melbourne.
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Earlier this year its chief executive Mark Armstrong <a href="/expert-insights/rate-my-agent-boss-defends-award-to-underquoter-tim-heavyside">defended its "agent of the year."</a>
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It reported $3 million in customer receipts for the December half but burned about $4 million cash.
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In February, it controversially named as ‘agent of the year’ a man who’d allegedly recently received a record fine for underquoting.
Rate My Agent warned in its prospectus that the continuing property downturn could result in lower agent advertising on the site — which could hit its bottom line.
The prospectus says 27,000 agents had signed up to the service. It says it covers 77 per cent of active agents in Australia and 30 per cent of those pay monthly subscriptions.
The company says it’s listing to increase its footholds in the US and New Zealand, and starting looking at other markets.
Early investors in the company included stockbroker Dean Smorgon, scion of the Smorgon dynasty, and online entrepreneur Gabby Leibovich.
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Estate agent comparison website Rate My Agent debuts on ASX

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RateMyAgent, which was formed four years ago, is set to float on the ASX.
Its new share issue at 25¢ per share values the company at $92 million.
The RateMyAgent business charges estate agents, who market their services to prospective vendors, a monthly subscription plus one-off fees.
It is one of numerous property agent matching websites including LocalAgentFinder and OpenAgent, which claims to be the number 1 agent comparison site.
Its prospectus warms if an existing, well established online residential real estate services provider, were to offer an agent review and rating feature, it could materially affect RMA’s ability to grow its revenues and profitability.
It has a current annual revenue run rate of $5.6 million with costs at $6.6 million, according to the prospectus.
It made a first half net profit after tax of $220,000 in 2018, after research and development income of $1.3 million.
The prospectus states its future revenue growth was expected from increased market penetration in Australia and New Zealand and the United States. Rate My Agent says 27,000 agents have signed up to the service.
It says it covers 77 per cent of active agents in Australia with 30 per cent of those paying monthly subscriptions that start at $39 a month.
It notes a property downturn resulting in lower agent advertising on the site could hit the business bottom line.
During the year to March 2018, RMA’s database showed that vendors and buyers posted over 173,000 reviews (14,000 reviews a month) on 121,000 properties sold.
This equates to a review for around one in every three residential properties sold in Australia, RMA said.
Of the vendors who posted an agent review, 24% said they used RMA to help select their agent.
Nine months after its 2014 launch, the site advised it had some 8000 agents as members, with 500 paying to advertise their businesses on the site which at the time had more than 25,000 client reviews, with 1100 new reviews being posted each week.
Its existing shareholders, which include chief executive Mark Armstrong, will own 87.4 per cent of the company after the Bell Potter float.
The main shareholders are only letting go of 12.6 per cent of the company. 
<div>Its largest shareholder, David Williams' boutique advisory Kidder Williams will get a success fee valued, with cash and shares, at around $800,000 for the planned listing on June 29.</div>
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RateMyAgent, which allows home owners to search online and compare real estate agents, has recently been caught up in controversy over underquoting estate agents in Melbourne.
Earlier this year its chief executive Mark Armstrong defended its "agent of the year."
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The RMA business has attracted well-known investors including Dean Smorgon and Catch Of The Day founder Gabby Leibovich, who participated in a $5 million fundraising two years ago.
The company made a full year loss in 2017 of $2.9 million, on sales of $2.5 million. The latest profit of $224,000 was thanks to a its R&amp;D grants.
It also noted that it might have to pay back some or all of $2 million in R&amp;D tax incentives since 2015.
“There is a risk that the some or all of the R&amp;D tax incentives received to date could be required to be repaid (plus interest and penalties) in the event that audits of the claims are conducted and it is determined that the requirements of Division 355 of the Income Tax Assessment Act (1997) have not been met in full or in part,” it said in the prospectus.
The company has increased sales, rising from $873,000 in the first half of 2017 to $2.8 million in 2018, but the prospectus advises given its only recently commenced operations in Australia in 2013 (transitioning to the paid subscriber model in 2014), in the US in 2017 and in New Zealand in 2018, that there are uncertainties surrounding the rate of growth and prospects of the business.
"RMA’s products and services are in the early stages of development and its is not yet cash flow positive.
"RMA’s limited financial and operating track record is not sufficient to provide any certainty or assurance that the Company can or will achieve the growth and other objectives set out in this Prospectus.
"An investment is, therefore, speculative and the directors are of the view that an investment should be regarded as high risk," the prospectus said.
Rival property agent matching service LocalAgentFinder secured a $5.5 million capital raising round last year and a further $5.5 million this year. LocalAgentFinder recruited former iSelect chief Mat McCann as its CEO to prepare for a possible IPO this year.
It recently announced a partnership with Commonwealth Bank.
“LocalAgentFinder’s platform will give customers an independent comparison and is a good example of Commonwealth Bank partnering with experts to provide more value for our customers to help them realise their property goals,” Carrie Fox, Commonwealth Bank general manager, said in a statement.
In 2016 the head of the Real Estate Institute of NSW, John Cunningham suggested issues surrounding recommendations meant agents should be wary using comparisons sites.
Last year the head of the Real Estate Institute of WA, Hayden Groves said the market disruptors, including localagentfinder.com.au, openagent.com and Purple Bricks, "offered poor value to consumers."
"As the President of the Real Estate Institute of WA, people will expect me to say that, but if these intermediaries were upfront about what they actually offer I could be more accepting.
"However, they market themselves as one thing and do another.
"Localagentfinder and others like them claim to provide a service that finds the consumer the best agent, but that is just fantasy," Groves said.
OpenAgent was founded by former McKinsey &amp; Company analysts Zoe Pointon and Marta Higuera in 2013.
OpenAgent's capital raising had totalled $20 million by 2016.
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Rate My Agent seeks to raise $12 million ahead of June float 

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The Drummoyne-based activist investor Matthew Donnellan emerged yesterday as lining up to potentially acquire a 15 percent stake in McGrath this Friday.
The shares are being mostly offered to the market by former McGrath agents and senior executives.
The stock has been offered through Wilson, seemingly volunteering Donnellan as the likely raider.
The press advised the 47-year old Donnellan had once acquired a similar stake in then struggling pub owner, Lantern Hotel Group, "before forcing out the management and instigating a turnaround in its strategy that delivered strong returns to investors through an asset sell down."
The 14.66 percent stake would make the former Allphones CEO sit as the second biggest shareholder behind founder John McGrath.
The press were tipped off that Donnellan was "an admirer of the McGrath business and brand, but not the performance of its board."
"I don't own any shares in McGrath so I have nothing to say at this stage," Donnellan oddly told the press.
The 14.66 per cent combined stake in McGrath was created by the shares of former McGrath director of sales Matt Lahood, Geoff Lucas the former McGrath chief operating officer who has since moved to artisan bakery group Sonoma, and former agents Ben Collier, Stephen Chen, the Leichhardt agent Shad Hassen and Brad Gillespie, along with a remaining McGrath agent Bethwyn Richards.
The shares floated at $2.10 in the initial public offering in late 2015.
The block trade, which is being handled by stockbroker Wilsons, will be available for purchase from Friday when 46.3 per cent of shares in the company come out of escrow.
A document filed to the Australian Stock Exchange said each of the parties intended to act in a "co-ordinated manner in relation to any sale of their shares in McGrath Limited".
What they hold
Geoff Lucas 6.7 million shares
Bethwyn Richards 2.78 million
Shad Hassen 2.78 million
Steven Chen 2.78 million
Matt Lahood 2.78 million
Ben Collier 2.78 million
Brad Gillespie 760,000 shares
The rival real estate agents - now at The Agency - hope selling the shares as a block could achieve a premium price.
McGrath CEO Cameron Judson advised McGrath remained a "a long-term holder of stock" but didn't advise further on any future purchasing or privatisation plans.
McGrath shares closed down 2 percent at 77 cents on Wednesday, and this morning was trading at 78 cents.
In 2016 Donnelley paid $8.05 million through Ward Partners for his Drummoyne harbour front house which had been marketed with $6.5 million hopes.
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McGrath rebels join forces to sell 14 percent stake

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Centuria Metropolitan REIT, Australia’s largest metropolitan office REIT, announced its inclusion on the S&amp;P/ASX 300 Index from the start of trade on September 18.  
The S&amp;P/ASX 300 Index includes up to 300 of ASX-listed entities by float-adjusted market capitalisation and provides a widely-used benchmark for many general equities and real estate specific institutional investors.
“We have previously indicated it was our goal to be included in the Index. We’re delighted to have achieved this milestone, thanks to the support of our securityholders,” said Nicholas Blake, trust manager of the REIT.
“Inclusion in the index will enhance CMA’s relevance within the Australian equity market and generate increased institutional investor interest.”
The ASX inclusion caps an eventful year for the real estate investment trust. It  merged with Centuria Urban REIT (CUA), posted a statutory net profit of $37.7 million in the financial year 2017, and also completed a $90 million capital raising, increasing CMA’s market capitalisation to over $500 million.
Recently, the REIT bought three commercial properties in Perth, one of them being the Hatch building (below) and Melbourne for a total of $150 million. 
Centuria Group entity Centuria Industrial REIT (ASX: CIP) is included in the S&amp;P/ASX 300 Index, while Centuria Capital (ASX: CNI) is a potential candidate for inclusion at a future rebalance.
“The inclusion of the REIT in the ASX/S&amp;P 300 Index is an important milestone for CMA, which was launched in December 2014. Combined with our $1.6 billion unlisted property syndication business, we now have three distinct property investment platforms that can grow independently. This enhances the group’s overall growth prospects,” said Group CEO John McBain. 
 
 
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Centuria Metropolitan REIT added to S&P / ASX300 index 

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The first McGrath annual general meeting as a listed company takes place this afternoon.
The company has yet to provide any guidance for 1HFY17 or FY17.
Stockbrokers Bell Potter advised the well publicise lower auction volumes in Sydney was likely to be significant.
<a href="/images/2016/11/23/image002.png" target="_blank">Click to enlarge</a>
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"We expect the 1HFY17 result to be well below 1HFY16.
"We also expect volumes to remain subdued next Autumn (the next key auction period) but similar to those this year so at this stage we forecast the 2HFY17 result to be similar to 2HFY16. 
"The combination of a weak 1HFY17 result and a flat 2HFY17 result means overall we forecast the FY17 result to be below FY16."
Bell Potter issued its revenue, EBITDA and NPAT forecasts for both 1HFY17 and FY17.
"The 1HFY16 and FY16 results are shown on a pro forma basis so that a like-for-like comparison can be made," Bell Potter analyst Chris Savage noted.
 
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Fewer auctions to impact 2017 McGrath revenue: Bell Potter forecast

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National online property agency iBuyNew (IBN) has been named on a list of Australia’s top 100 fastest growing start-up businesses.
It comes just weeks after listing on the Australian Securities Exchange.
Companies listed on BRW Magazine’s Fast Starters have operated for less than four years.
It has also made a turnover of at least A$500,000 in the last fiscal year with higher revenue than the previous year, have less than 200 full-time employees and more than one main customer.
IBN CEO Mark Mendel said the company, which specialises in off-the-plan sales, was delighted to be recognised by BRW’s annual Fast Starters list.
IBN ranked 54th place.
“This is a great acknowledgement for IBN and the hard work of our sales and marketing team who provide a service that people need to guide them through the complexities of buying off the plan,” he said.
“Demand for our service is increasing with record website traffic. We are now really focused on what needs to be done to deliver the results we are looking to achieve in 2017 and beyond.”
IBN this year launched a house and land division, but is currently more active in apartment sales.
The company also recently acquired 100 per cent of Melbourne-based property research advisers Nyko Property Pty Ltd.
IBN delivered new property sales worth $18.1 million in the 2016 September quarter.
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iBuyNew on BRW Fast Starters list

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National online property agency iBuyNew (IBN) is now trading on the Australian Securities Exchange (ASX) after its listed parent company Disruptive Investment Group Limited changed its name to iBuyNew Group Limited (ASX-IBN).   The name change was formalised at the Company’s annual general meeting.   The company also announced it has settled its share sale agreement to acquire 100 percent of Melbourne-based property research advisers Nyko Property Pty Ltd (Nyko).
It has delivered new property sales worth $18.1 million in the 2016 September quarter.   IBN, which specialises in off-the-plan property sales, recently launched a new house and land division, but is more active at the moment in apartment sales. IBN’s chief Mark Mendel informed shareholders that while the market for new apartments was well below its peak from the 2015-16 financial year, there has been no rise in buyer defaults. “(This) leads us to believe that the negative sentiment is mostly perception rather than reality at present,” Mr Mendel said.   “Whilst we believe the negative media reporting about the sector has likely contributed significantly to reduced sales, it is our assessment that buyers are mostly taking a wait-and-see approach until the uncertainty passes rather than leaving the market altogether.
"The fundamentals of Australian demographics have not changed in the last nine months.   “IBN is realistic about the current market dynamics.
"Our focus is ensuring that we have a robust business that continues delivering sales, and is well positioned to take advantage when the negative perception passes and stronger demand returns to the market."
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iBuyNew now trading on ASX

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The Simonds home building family, founders of the listed Simonds Group, are preparing to buy out the company with outside assistance from the Roche family.
Simonds are set to leave the ASX boards after an unhappy experience as a listed company since late 2014.
An email was sent to staff on Tuesday flagged a potential change. 
Its shares were placed in a trading halt. 
Simonds' family vehicle and Roche Holdings settled on a 40¢-a-share deal under which a company owned 51 per cent by the Simonds family and 49 per cent by the Roche family would buy all outstanding shares of Simonds Group.
The price represents a 38 per cent premium to the 29¢ price at which the shares last traded before going into a trading halt on Tuesday afternoon.
It gives the company a value of about $57.5 million. 
Gary Simonds retained a 37 per cent stake after listing the company he founded in 1949.
Simonds has seen its share price fall as low as 27¢ from the $1.72 price initial float.
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Simonds home building privatisation on the agenda

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Chinese real-estate portal Juwai has completed a $10 million pre-initial public offering raising, as it heads to an ASX float late this year.
The latest raising was supported by local and Hong Kong-based institutional investors and high net worth individuals.
Juwai connects Chinese property buyers with sellers in other parts of the world.
The Australian Financial Review says it is aiming to raise about $30 million for its run at the ASX.  
Brokers Baillieu Holst and Evans &amp; Partners managed the pre-IPO raising of convertible notes to investors<a href="https://www.afr.com/street-talk/baillieu-evans-prepare-juwai-raising-20160608-gpexr4#ixzz4DyyoCuAQ">. </a> 
The notes will convert into shares on listing.
The South China Morning Post reported today that Charles Pittar, the CEO of Juwai.com said Brexit helped push a 100 per cent, week-on-week increase in consumer enquiries for UK property during the week of the vote.
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