Joel Robinson

Sydney's top 15 new apartments developments set to launch in 2026

<p>Developer-builder <a href="https://www.apartments.com.au/developers/dasco-australia">DASCO</a> has pushed beyond the now-standard inclusions of rooftop pools and landscaped podiums at its recently launched new Epping project, Senso.</p>

<p>It has laid out over 4,000 sqm of resident-only amenity in a move designed to compete directly with low-density housing on livability, not just density. The result is a development that supports genuine daily use through purposeful spaces distributed across its five-building, 479-apartment precinct.</p>

<p>[smartcode_project:default project_id=134954 project_image_fid=4396]</p>

<p>Two rooftop pools form the anchor of Senso. One is a 27-metre lap pool adjoining a heated spa, designed for everyday fitness rather than just summer leisure. The second sits on a lower podium, allowing different buildings to share in vertical access and reducing crowding during peak times.</p>

<p>It is the secondary spaces that start to distinguish Senso from other large-scale suburban projects. A rooftop cinema is integrated into a landscaped terrace, offering open-air screenings with natural ventilation and passive cooling.&nbsp;</p>

<p>The inclusion of a “sensory walk”, an elevated boardwalk that threads through the site, suggests a rare investment in non-commercial, non-essential amenity: space for quiet movement that doesn’t double as access or traffic circulation.</p>

<p>[smartcode_project:default project_id=134954 project_image_fid=4402]</p>

<p>The gym and wellness centre, often relegated to a small ground-floor room in many builds, takes on more substance here. Residents have access to a fully equipped gym, as well as outdoor yoga areas and meditative zones that integrate greenery and natural light.&nbsp;</p>

<p>The Club Lounge is similarly designed to support multiple use cases, with a private dining terrace, kitchenette, workspace, and lockable wine storage. These aren’t superficial additions; their scale and spatial allocation indicate serious intent for frequent resident use.</p>

<p>[smartcode_project:default project_id=134954 project_image_fid=4391]</p>

<p>Importantly, Senso’s amenities are embedded within a site that spans more than 10,000 sqm, allowing for better separation between spaces and reduced noise spillover, a critical but often overlooked factor in high-density developments. This spatial generosity also enables multiple alfresco kitchens and communal terraces without compromising individual privacy or usable space.</p>

<p>While many developments make claims about lifestyle, few back it with this level of built infrastructure. Senso’s mix of dedicated fitness, wellness, social and passive green spaces suggests a conscious response to the post-pandemic shift in housing expectations, especially among owner-occupiers.&nbsp;</p>

<p>DASCO is one of several leading developers who have taken out Resilience Insurance's Latent Defects Insurance policy, providing buyers with a 10-year structural and waterproofing warranty, and giving them the ultimate peace of mind.</p>

<p>Senso is scheduled for completion in late 2028.</p>

<p>[smartcode_project_cta:default project_id=134954]</p>


Staff Writer

The outdoor amenities elevating life at Senso, Epping

<p>Following the proposal by the Minns Labor Government to rezone Parramatta Road to create up to 8,000 new homes, prominent developer Ceerose has gone to the NSW Gov to increase the density of its new mixed-use residential building in Leichhardt.</p>

<p><a href="https://www.apartments.com.au/builders/ceerose">Ceerose</a>, founded by Edward Doueihi nearly three decades ago, has filed plans for 154 apartments above ground-floor retail at 307-315 Parramatta Road, a key corner site near Norton Street, the main high street strip in Leichhardt.</p>

<p>It's an upsize from the previously approved scheme of 63 apartments across a seven-storey building.</p>

<p><img alt="Ceerose" data-entity-type="file" data-entity-uuid="ba1ae75b-5f08-43fb-b8d5-3de6d9f6ef71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.39%E2%80%AFAM.png?VersionId=yA3hBBLPH4ev7MsAE0_hieXeqiFqBUb7" /></p>

<p>The project is being advanced through the State Significant Development (SSD) pathway, with concurrent rezoning sought to facilitate the proposal. The 10-storey development would rise over a four-level basement and deliver two retail tenancies, one a larger-format offering and the other a smaller “hole in the wall” space, addressing the Parramatta Road frontage. 21 of the apartments are dedicated as affordable housing.</p>

<p>According to the Urban Design Report by Architecture AND, the scheme includes a podium and tower configuration, with a fine-grain, two-storey parapet street wall that references the traditional shopfront rhythm along the corridor. “An elegant tower form is proposed, combined with a characterful two storey frontage... articulating it as two related buildings, providing consistency with the rhythm and grain of Parramatta Road,” the report notes.</p>

<p>The residential component is split across two slender towers set back from the street edge, a design move aimed at preserving solar access and reducing perceived bulk. This massing strategy also seeks to improve residential amenity by focusing scale toward the quieter northern interface, away from Parramatta Road’s noise and pollution.</p>

<p><img alt="Ceerose" data-entity-type="file" data-entity-uuid="347f2f8f-5d36-4388-b40a-2e77380b9c19" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.02%E2%80%AFAM.png?VersionId=xvyUE2ujT1lzivXTo.mHBJFF4SmfgLtz" /></p>

<p>Architecture AND has worked with Ceerose on previous Inner West projects, and cites a deep familiarity with the local character. Their design draws heavily on context, heritage, and sunlight access considerations, and engages with the Inner West Council’s “Our Fairer Future” strategic planning framework.</p>

<p>The site spans 2,712 sqm and is located near key intersections with Catherine Street, Hay Street, and Redmond Street. It adjoins a public carpark to the north and is within walking distance of Stanmore and Petersham stations. It is also flagged in state and local planning strategies, including the Parramatta Road Corridor Urban Transformation Strategy, as a suitable candidate for increased density.</p>

<p>Ceerose recently completed The Alex Collective on McEvoy Street in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay.</p>

<p>The Parramatta Road corridor is coming to life with the proposed rezoning which is serviced by a significant number of bus, light rail and train routes.</p>

<p>Deicorp is progressing with its $1.8 billion <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> precinct on Parramatta Road in Five Dock, as is <a href="https://www.apartments.com.au/news/nsw/toga-to-push-on-with-five-dock-mixed-use-masterplan">TOGA further down the street</a>. Those two projects alone will bring nearly 2,000 new homes to Parramatta Road.</p>


First look: Ceerose plots mixed-use Leichhardt development on Parramatta Road

<p>North Sydney's landmark 'SBS Building' on Alfred Street is set to be demolished to make way for a new mixed-use residential tower in the booming North Sydney.</p>

<p>Commercial property group FiveX is behind the plans for a <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">39-storey tower</a>, the latest project to advance under the NSW Government’s Housing Delivery Authority pathway.</p>

<p>They are proposing 184 apartments above retail spaces, which will replace the existing 20-storey commercial building. FiveX was set up more than five decades ago by Joshua and Marko Berger. It is currently led by Joshua's son Lesli.&nbsp;</p>

<p><img alt="First look: Fivex plans 39-storey residential tower at 275 Alfred Street, North Sydney" data-entity-type="file" data-entity-uuid="2efa0980-53fa-4cca-9f9e-9c3c845d4746" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29%20%281%29_0.png?VersionId=y_YyPMq3NQLfYRs84pP4os9UgWiMLp75" /></p>

<p>According to the Architectural Design Report by <a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>, the slender tower form has been deliberately designed to respect the site's transitional setting at the southern gateway to the North Sydney CBD, where high-rise towers give way to lower-scale residential precincts.</p>

<p>"The slender tower form and articulated podium establish a respectful relationship with nearby heritage and low rise buildings, including the Whaling Road Heritage Conservation Area,” the architecture firm noted, adding that the tower “completes a missing link in the urban fabric” while enhancing the Alfred Street streetscape.</p>

<p>The proposed building will include a mix of one-, two- and three-bedroom apartments, with 15 percent of the gross residential floor area allocated as affordable housing. There is an agreement already in place that those apartments will be managed by Evolve Housing.</p>

<p>The project aligns with broader state housing objectives, including the National Housing Accord target of delivering 1.2 million new homes by 2029. The Scoping Report filed with the State Significant Development Application (SSDA) suggests the site "presents no impediments to rapid delivery,” with construction able to commence within 12 months of receiving consent.</p>

<p>North Sydney has been one of the most popular suburbs in Sydney for new and off the plan apartment development, but hasn't had the supply to keep up with demand, until recently.</p>

<p>AURA by Aqualand was, for a long time, the only off the plan apartment building on the market. That completed last year, and has sold the majority of its 386 luxury apartments. Recently ALAND launched <a href="https://www.apartments.com.au/new-apartments/the-walden-173-179-walker-street-north-sydney-nsw-2060">The Walden</a> on the same street, selling over $100 million within just a few hours of its launch, while developer CASA also launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/the-mclaren-north-sydney-45-mclaren-street-north-sydney-nsw-2060">The McLaren</a>&nbsp;in the same precinct.</p>


First look: Fivex plans 39-storey residential tower in booming North Sydney

<p>Kokoda Property Group has announced the Sydney-based Versatile Construction as the builder for its landmark $1.5 billion <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> precinct.</p>

<p>Construction of the 17,612 sqm site is scheduled to commence in December 2025 and is expected to be delivered in stages from 2028. Once complete, <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> will comprise 212 residences across four architecturally distinct buildings, alongside Brisbane’s first Kimpton Hotel, extensive retail, hospitality, and wellness amenities.</p>

<p>[smartcode_project:default project_id=139896 project_image_fid=295098]</p>

<p>Kokoda Property Group Founder and Managing Director, Mark Stevens, said appointing Versatile Construction marks a significant milestone for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.</p>

<p>“Partnering with Versatile Construction gives us confidence in delivering a precinct that sets a new benchmark for luxury living, curated experiences and vibrant riverfront activation," Stevens said.</p>

<p>"Together, we will bring the vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> to life, creating a destination that residents and visitors will enjoy for generations."</p>

<p>Throughout the construction phase, more than 2,000 jobs will be created, supporting hundreds of local contractors and suppliers.</p>

<p>[smartcode_project:default project_id=139896 project_image_fid=352274]</p>

<p>Marco Fahd, Chairman &amp; CEO at Versatile Group, said the company is looking forward to&nbsp;expanding their footprint in the state, taking on their inaugural project in Brisbane.</p>

<p>"We are proud of the unwavering commitment our team of experts have to quality and certainty in delivery and are excited to work with Kokoda to bring their vision for this unique project to life," Fahd says.</p>

<p>Sales reached $285 million on the launch of <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>, with sales momentum continuing to "exceed all expectations."</p>

<p>Stevens says the overwhelming response from buyers validated the group’s vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.</p>

<p>“The demand for a luxury product in this enclave has been extraordinary, we’ve never seen anything like it before. It reinforces everything we’re doing around quality, design, and creating genuine lifestyle precincts. Buyers are recognising the enduring value of Brisbane’s riverfront and are responding to the opportunity to live within a world-class destination that celebrates both place and lifestyle.”</p>

<p>[smartcode_project_cta:default project_id=139896]</p>


Kokoda appoints builder for $1.5 billion Teneriffe Banks waterfront precinct

Asx Update

<html><body><p>REA Group has announced its proposal to acquire the Mortgage Choice business.

REA announced a scheme implementation agreement to buy the ASX-listed Mortgage Choice for $244 million, or $1.95 a share, representing a 66 per cent premium to Mortgage Choice’s last close.

Their acquisition will accelerate REA’s financial services strategy to create a leading mortgage broking business in addition to its real estate listings website.

“The proposed acquisition of Mortgage Choice is an exciting development that will bring together our well established Smartline business and franchisee network with the complementary Mortgage Choice organisation and its significant broker footprint," REA Group CEO, Owen Wilson said.

The transaction is still subject to conditions being met, including Mortgage Choice shareholder and regulatory approvals.

It is expected to take approximately three months to complete.

Mortgage Choice has a $54 billion loanbook.

The network has more than 500 brokers across 380 franchises.

Its biggest shareholder is the Commonwealth Bank of Australia with an 18.5% stake.

Domain has its Loan Finder, a joint venture between Domain Holdings Australia Limited and Auscred Limited, the parent entity of mortgage platform Lendi.</p></body></html>

REA Group has announced its proposal to acquire the Mortgage Choice business

jchancellor

REA Group seeks to acquire the Mortgage Choice business

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<p>The ASX-listed real estate agency McGrath have announced they have returned to net profitability, with new chief executive Eddie Law citing a relatively strong residential real estate market over the past four months.</p>
<p>"It appears consumers are re-assessing their home needs and aspirations in a post-COVID world," Law, who was speaking at his first AGM having taken the top job in August, said.</p>
<p>"Both transaction volumes and average selling prices across our network have exceed the prior year in each of the first four months of FY21."</p>
<p>McGrath's FY20 saw an underlying EBITDA of $3.7 million, a $10.1 million turnaround from FY19 which has seen them return to net profitability.</p>
<p>"We ended 30 June with a strong balance sheet with zero debt and a $17.3 million cash balance, an increase of $7 million from 30 June 2019," Law added.</p>
<p>McGrath are forecasting underlying EBITDA to be in a range of $6 million to $6.5 million for the first half of FY21.</p>
<p>Law however was cautious amid the optimism of the general improved outlook, saying there is still undercertainty in the first half of 2021.</p>
<p>"With the scheduled end of the JobKeeper and deferred mortgage programs still yet to be determined, along with other macro factors impacting consumer confidence, there is still material uncertainty as to whether the momentum evidenced in the first half of FY21 will be maintained in the second half results."</p>
<p>McGrath shares were up over eight per cent on the positive news to 46c a share.</p>
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jrobinson-rf4aSBido9

McGrath return to net profitability, reinstate dividend

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<p>Embattled property valuation group Landmark White made its long-awaited return to the ASX, with its shares trading at 9 cents.</p>
<p>Its return follows being hit with <a href="/news/landmark-white-limited-reports-property-valuations-data-breach">two cyber-attacks earlier this year</a> when confidential home loan information was <a href="/news/landmark-white-shares-fall-10-percent-after-dark-web-data-revelation">posted illegally on the web</a>.</p>
<p>Yesterday the group's share price was down around 50 per cent to $0.09 per share from its prior trade. They've been trading at $0.10 over the morning session.</p>
<p>LandMark White shares previously traded at 18¢, before the company requested a trading halt on July 6 following its second privacy security breach.</p>
<p>The company had recently undertaken a <a href="/news/landmark-white-seek-to-rebuild-value-for-shareholders">$5.4 million capital raising</a> last month at 8¢.</p>
<p>The shares were trading at 34 cents at the beginning of 2019 and at 44 cents a year ago.</p>
<p>Acting chief executive Tim Rabbitt, who will stay for the foreseeable future, admits it had been often harrowing over the past seven months.</p>
<p><span>Landmark White forecasts it will reduce its annual loss from $15.1 million to $1.5 million. They</span> said the data breach will <a href="/news/landmark-white-data-breach-to-cost-over-7-million">cost the company up to $7 million</a>.</p>
<p>The group, which values home loan applications for banks and independent lenders, was initially hit with a data security breach in late January, which led it to be suspended from the panels of the four major banks and smaller lenders.</p>
<p>LandMark White returned to trade on the ASX in May, but was hit again with further confidential information posted on the web.</p>
<p>It is not believed that the NSW Police has charged anyone.</p>
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j.ballantyne1990-6AQqhLzZaK

Landmark White shares fall to 9 cents on return to ASX

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<p>The national ASX listed real estate agency The Agency is seeking a fresh injection of cash.</p>
<p>Shares in the debt-laden group went into a trading halt on Monday, pending an announcement about a capital raising.</p>
<p>It is expected on Wednesday.</p>
<p>The shares have lost two-thirds of its value since February when it was trading at 22 cents. Now they're at seven cents</p>
<p>Nine Entertainment reports "concerns about its financial viability."</p>
<p>The Australian Financial Review called it a "capital funding lifeline."</p>
<p>There was a capital raising last November.</p>
<p>The group continue to expand its operations however.</p>
<p>The Agency now operates in Perth, Sydney, Melbourne, the Gold Coast, Newcastle and Illawarra after sizeable expansions.</p>
<p>They <a href="/news/cameron-mckillop-merges-with-the-agency-in-the-southern-highlands">recently partnered</a> with Southern Highlands veteran agent Cameron McKillop and his team at McKillop Property. </p>
<p>The Agency Group's June quarter update saw 674 exchanges, their highest on record.</p>
<p>In March this year The Agency reported it expects its core business units to be profitable within the next 12 months.</p>
<p>Shares <a href="/news/andrew-jensen-appointed-interim-chairman-of-the-agency">fell 15 percent in February</a> around the time Philip Re tendered his resignation as chairman. He was replaced with interim chairman Andrew Jensen, The Agency's former chief financial officer.</p>
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The Agency seeks fresh injection of cash

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<p>There has been another delay in The Agency's acquisition of the McGrath rebel's led Top Level Real Estate.</p>
<p>This one saw The Agency request a voluntary suspension from today, Tuesday until Thursday to coincide with the commencement of trading.</p>
<p>"The company makes the request pending an announcement by the company regarding the settlement of the acquisition of Top Level Real Estate Pty Ltd," the request stated.</p>
<p>A trading halt has been in place since last week.</p>
<p>Shares have been held at ¢14.</p>
<p>There is no indication as to the reason for the move from a trading halt to suspension.</p>
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Yet another delay as The Agency seeks Top Level Real Estate

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<p>The ASX has sought an update from The Agency after their shares fell to a record low after unusual share trading activity on the stock exchange.</p>
<p>In back to back days there have been two million plus shares traded each day. The average volume has recently been 500,000.</p>
<p>Shares fell to a record $0.007 low yesterday but bounced back this morning to $0.008. They were trading at $0.009 when they opened on Thursday morning.</p>
<p>Trading has continued to be unusually high, and The Agency's company secretary Stuart Usher responded that they had no information or reason for the spike in activity and there were no pending announcements that the ASX should be aware of.</p>
<p>"I confirm that I have delegated authority of the board to respond to ASX on disclosure matters and that the responses have been approved by the managing director," the response read.</p>
<p>The sharemarket awaits The Agency update on its success in financing its acquisition of the McGrath rebels outfit, Top Level. </p>
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The Agency shares hit record low as ASX seek update

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<p>The option held by Paul Nairdone's publicly listed Perth based estate agency to acquire the east coast Top Level estate agency has been extended yet again.</p>
<p>The managing director of The Agency says it remains "totally committed" to acquiring Top Level, though its plans to secure the burgeoning Bondi Beach based outfit appear hopeful with shares dropping to a record low in today's trade.</p>
<p>The elusive option was taken in January last year, as it envisaged having an combined estate agent of 600 sales representatives nationally.</p>
<p>But it told shareholders this week the agreement to buy the east coast business had been extended by another four months.</p>
<p>Top Level Real Estate, which trades as The Agency under a licence agreement, is run by high commission, ex-McGrath rebels led by Matt Lahood.</p>
<p>The sharemarket was told Agency Group Australia had "entered into an extension to the amended and restated binding option agreement."</p>
<p>It noted a "deed of variation has been entered into by Ausnet Real Estate Services and Top Level’s majority shareholders under which all parties have agreed the option agreement be extended for the period of four months from 11th June 2018 until on or before 5pm AEST on 11th October 2018."</p>
<p>Under the terms of the deed, the completion of a raising of no less than $10 million (a condition precedent under the option agreement) has been extended until 5pm AEST on 11th August 2018 or at a later date agreed to by all parties.</p>
<p>Its recent hopeful plans for a $10 million equity raising at 2¢ a share failed to get anywhere after The Agency parted ways with its Perth underwriter, CPS Capital Group, in April.</p>
<p>No replacement underwriter has since been announced.</p>
<div class="cq-article-content-paras section">
<div class="cq-article-content-media section">"We're totally committed to getting this deal done," The Agency managing director Paul Niardone told The Australian Financial Review.</div>
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<div class="related-quotes section">"There's quite a bit we need to do. It's not just about the raising but about merging two organisations and how that will take place. We don't want to be pushed to a timeframe."</div>
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<p>Shares in The Agency have fallen to 1¢ in morning trade.</p>
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<p data-gtm-vis-first-on-screen-7770372_137="10752" data-gtm-vis-total-visible-time-7770372_137="900">Its WA-based business generated total revenue of $13.5 million in the year to May with the east coast Top Level network bringing in $16.1 million. Its latest sharemarket advisory claims The Agency Group is "achieving its stated goal of being the fastest growing real estate brand nationally."</p>
<p>Their recent WA acquisition Sell Lease Property (SLP), acquired in March 2018, saw 115 properties settled and 324 listings for the two months to May 2018.</p>
<p>In May 2018, The Agency and Sell Lease Property combined ranked fifth in Western Australia for $ value and fourth in number of sale.</p>
<p>It has advised the company is closing in on claiming number one ranking in WA for number and value of sales when compared with the top groups in the state.</p>
<p>The Agency Group Australia, formerly Ausnet Financial ServicesLimited, has also announced it has acquired Inglewood Estate Agency, further expanding its reach in the Western Australian market.</p>
<p>The transaction adds 80 property managements to The Agency.</p>
<p>Inglewood Estate Agency principal Mark Jewell will join The Agency Group team, with over 30 years’ experience selling properties.</p>
<p>Established in 1960, Inglewood Real Estate is a longstanding family business. The purchase price of $436,180 will be paid in three payments over two year, the first instalment representing 80% of the total purchase consideration which was paid at settlement.</p>
<p data-gtm-vis-first-on-screen-7770372_137="10752" data-gtm-vis-total-visible-time-7770372_137="900"><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/2018/6/13/agency%201.jpg" alt=""></p>
<p>(Agency East Coast from April 1, 2017)</p>
<p>But it has recently borrowed $1.1 million in short-term funding (at annualised interest rate of 18 per cent) as working capital.</p>
<p>Niardone said the commercial loan, to be repaid in three months, would tide it over until the Top Level deal was sealed. </p>
<p>The $1.1 million is being lent by a private lender, with Niardone declining to reveal the lender’s identity to The Australian.</p>
<p>The Agency real estate sales posted gross commission income of $7.55 million while SLP posted $1.5 million (March – May), totaling $9 million of commission income for YTD May 2018.</p>
<p>The Agency Property Management reported monthly income of $116,000 for May and added 96 new property managements.</p>
<p>Mortgage and Financial Solutions Australia posted a record month of $20 million in loan lodgments while the loan book grew 9.5% against a drop of 18% in the overall Western Australian lending market.</p>
<p>Commenting on the results, The Agency Managing Director Paul Niardone said these were "exceptional results" for its Western Australian operations, especially when considering the market is still down 1.8% in dwelling values to May 2018 and sales turnover, for the same period as last year, was down 5%.</p>
<p>"The numbers also demonstrate that the referral of clients into other business units is working.</p>
<p>"The results illustrate we have a proven model that is disrupting the traditional franchise model by giving power back to the real estate agent and providing a significant value proposition to agents.</p>
<p>"The traditional model has had its time and The Agency has proven this by showing that, combined with Sell Lease Property, we are knocking on the door of claiming number one ranking in WA for number and value of sales."</p>
<p>The group reported recently it had $1.1 million in cash at the end of the March quarter.</p>
<p>It forecast outflows of $4.9 million in the June quarter. Its March quarterly revenue was $4.2 million</p>
<p>The sharemarket values the company at $8 million.</p>
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<p data-gtm-vis-recent-on-screen-7770372_137="10752" data-gtm-vis-first-on-screen-7770372_137="10752" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1"><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/2018/6/13/agency%202.jpg" alt=""></p>
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<p>The Company is backed by Finsure Group, one of Australia's fastest growing retail finance brokerages writing over $1 billion in new mortgages every month across 850 brokers.</p>
<p>Ausnet Financial Services Limited, as The Agency Group was then known, advised the sharemarket in early 2017 that its east coast expansion involved as=n option agreement with Aura Principal Investments Pty Ltd (ACN 145 010 653), Top Level Holdings Pty Ltd (ACN 617 021 167) and Daring Investments Pty Ltd (ACN 059 818 807) to acquire 100% of the fully paid ordinary shares in the capital of Top Level Real Estate Pty Ltd.</p>
<p>Ausnet director John Kolenda holds an interest in Top Level via his 50% shareholding in (and directorship of) one of the vendors, Daring Investments Pty Ltd.</p>
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jchancellor-FAypfDUnLy

The Agency again delays Top Level acquisition deal

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<p>The chief executive of online real estate advertising company Domain has suddenly quit just two months after it listed separately on the share market. </p>
<p>Domain was spun off from Fairfax Media and commenced trading on the ASX last November.</p>
<p>He has worked for Fairfax and Domain on and off for 26 years.</p>
<p>The company's chairman Nick Falloon is stepping in as executive chairman, as a search for a new CEO immediately commences.</p>
<p>Falloon said Catalano had informed the board over the Christmas break that the demands of his role and his absence from the lives of his family were more challenging than he had expected.</p>
<p>"It's not fair on the family," he said adding that he was grateful for the opportunities at Domain.</p>
<p>In a statement, the Melbourne-based father of eight who owns property in St Kilda West, Caulfield North and Byron Bay, advised family reasons for the exit. </p>
<p>"When I re-joined Fairfax in November 2013, I made a commitment to my young family that I could be there for them and do the job," he said in a statement.</p>
<p>"It has become clear to me that doing the job of a listed company CEO the way it needs to be done means that I am not meeting that family commitment."</p>
<p>"It was also become apparent that I needed to relocate to Sydney and that was something I wouldn’t ask my family to do because schooling and family requirements would see young family members living in different cities.</p>
<p>"As it stands, I have been away from home for the bulk of each week and it’s not fair on the family.”</p>
<p>He noted the timing of the resignation, but said he was confident Domain’s team could keep the company on its current trajectory.</p>
<p>“I understand and regret that the timing of this decision is unusually short from Domain’s listing. But having been in the role for four years, I resign knowing that Domain has a great management team in place and I have every confidence in them and the business continuing on its current stunning trajectory.</p>
<p>In a statement to shocked staff, Fairfax chief executive Greg Hywood advised that it was "business as usual for Domain".</p>
<p>At 10:30am, Domain shares were 11 per cent lower at $2.93. The stock is now down 22 percent from its $3.80 listing price in November 2017.</p>
<p><span>Domain will report its first-half financial results on 19 February. </span></p>
<p><span>In the announcement to the ASX today, the company said based on preliminary unaudited pro-forma results, it was expected to report digital revenue growth of 22% against the same period last year and revenue growth of 13%.</span> </p>
<p><span>As a top 20 Fairfax shareholder, Catalano owns 0.32 per cent of the company’s stock, according to Bloomberg. </span></p>
<p><span>Fairfax Media kept a 60 per cent stake.</span></p>
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Melbournite Antony Catalano's shock departure from Domain as family demands 

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<p>Deteriorating trading results in the McGrath estate agency finances have emerged in an internal document obtained by The Australian Financial Review.</p>
<p>The Fairfax newspaper advised it had obtained a document, McGrath Group Report November 2017, that showed McGrath Limited had sunk to a $1.3 million loss as it suffered from falling commission income from residential sales, against the targeted $3.3 million net profit after tax between July and November 30.</p>
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<p>A leak also advised there had been infighting within the publicly listed company board, and even "threats by the board to resign en masse over the Christmas holiday."</p>
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<div>There was a McGrath board meeting on Friday but no announcements made to the stockmarket. It comes just hours before John McGrath was taking back the reigns of the McGrath Group.</div>
<div> </div>
<div>"It is understood the majority of the board clashed with Mr McGrath over the wording of the next trading upgrade to the ASX," The Australian Financial Review reported.</div>
<div>
<p>The loss for the first five months of the financial year compared to a $2.7 million net profit in the six months to December 2016.</p>
<p>Since listing in December 2015 McGrath has delivered several profit warnings prompting McGrath shares to be trading at around 57¢, well below its IPO price of $2.10. It has previously traded as low as 52 cents and fell back to 52 cents this morning.</p>
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<p>The emerging financial position could ignite more privatisation expectation of the agency which has a $76 million market capitalisation ahead of trade this morning.</p>
<p>John McGrath, who holds 26 per cent of the company, is now in a better position to lodge any bid, following his resignation last week from the board of the REA Group after 18 years. He holds $10.8 million REA Group shares which could be more readily sold given he was no longer a director the realestate website publishing group.</p>
<p>The internal documents show McGrath missed its internal forecast for earnings before interest, tax, depreciation and amortisation (EBITDA) by more than 80 per cent in the five months to November to generate $1.3 million instead of $7.8 million it had earlier expected. </p>
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<p>The documents reportedly show the McGrath balance sheet has been hit by a large depreciation of its rent roll asset (or property management operations).</p>
<p>Operational expenses met budget expectations.</p>
<p>But there was a blowout in doubtful debts and legal fees due to an increase in legal action.</p>
<p>McGrath's earnings are substantially below forecasts by equities analyst Bell Potter, which estimated the group earnings of $16.6 million in 2018.</p>
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<div>The board indicated in an update to the market last November that the agency might miss analyst targets.</div>
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<p>"FY18 earnings could be 20 per cent to 25 per cent lower than the current analyst estimate, due to high restructuring charges and a partial year of cost savings," the company said.</p>
<p>When approached by the Financial Review, McGrath declined to comment over the weekend.</p>
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<p>"McGrath declined to comment other than to say the company is well aware of its continuous disclosure obligations which we take very seriously," a spokeswoman said.</p>
<p>The board, chaired by Cass O'Connor, has just five members including John McGrath. The other there directors are Elizabeth Crouch, Nigel Dews and Cath Rogers. Cameron Judson is the chief executive officer, Glynn Wright, the chief financial officer and Morgan Sloper, its head of corporate services/company secretary.</p>
<p>Several former Mcgrath executives have run a clandestine campaign of denigration against the group over the past year.</p>
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Extraordinary McGrath Group leak suggests board in turmoil

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<p>Westfield Corporation is set to be taken over by the European shopping centre giant, Unibail-Rodamco.</p>
<p>A global property giant with 104 malls in 27 markets around the world will emerge after a takeover deal worth $32.7 billion.</p>
<p>Estates Gazette noted Rothschild’s property team, led by Alex Midgen, advised Westfield as well as Intu and Deutsche Bank’s property team, led in Europe by Rishi Bhuchar &amp; Klaus Elmendorff advised Unibail as well Hammerson.</p>
<p>Unibail shares traded lower in overnight European trade.</p>
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<p>Frank Lowy, Westfield’s chairman, and his sons Steven and Peter, who are the current co-chief executives, will vote in favour of the deal, which values each Westfield security at an 18 per cent premium to the value of Westfield securities at the end of Monday’s trading session.</p>
<p>Peter Lowy calculated that since 1960 $1000 invested in Westfield would be worth $440 million.</p>
<p>The Lowy family said it intends to maintain an investment in the combined international group which is headquartered in Paris. As part of its takeover, shareholders will receive a combination of cash and shares in Unibal-Rodamco.</p>
<p>Frank Lowy said it was a day of mixed emotion but that he was certain it’s the right decision.... he foresaw a bright future.</p>
<p>Westfield chairman Sir Frank Lowy said the deal was “the culmination of the strategic journey Westfield has been on since its 2014 restructure”.</p>
<p>“We see this transaction as highly compelling for Westfield’s security holders and Unibail-Rodamco’s shareholders alike,” Sir Frank said.</p>
<p>He also suggested the family wanted to<span> change their role to investors ... "we’ve [Frank &amp; sons] been doing it for a combined 145yrs.”</span></p>
<p>Shares in Westfield Corporation, the owner of shopping centres in the US and UK, were placed in a trading halt earlier today pending the announcement of a potentially “significant” corporate transaction.</p>
<p>Westfield shares had last traded on Monday at $8.55. </p>
<p>Frank Lowy will retire as chairman of Westfield, but will chair an advisory board for the new merged company, while his sons Peter and Steven will retain leadership roles.</p>
<div>
<div id="unruly-publisher-marker__inArticle">Founded in Sydney in 1953 by Frank Lowy and John Saunders, Westfield currently has interests in 35 shopping centres in the US and the UK, while its Australian centres are managed by the separately listed Scentre Group which remains independent.</div>
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<div>Scentre rose 17¢, or 4.1 per cent, to $4.35 while other local property trusts including its rival Vicinity Centres picked up. Vicinity rose 2.5 per cent, or 7¢, to close at $2.87 on Tuesday.</div>
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<div>It started in humble Blacktown.</div>
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<div>Last month at a film crew's behest, Frank Lowy went back to Blacktown where the delicatessen was opened in 1955, followed by the first Westfield mall in 1959.
<p>His biographer Jill Margo, writing in the AFR, noted when he was walking down the street two older women called out "Hey Frankie!".</p>
<p>"They recognised me!" he said. "They'd been customers in the deli 60 years ago and had such fond memories. We reflected on those memories and the fact that they still live with the pleasure of being acquainted with me was a great thrill. What more could I want."</p>
<p>Margo added that Frank was always adamant that there would be no Lowy dynasty.</p>
<p>He and his wife, Shirley, have 11 grandchildren and, so far, four great grandchildren.</p>
<div>"While thrilled to work with his sons, David, Peter and Steven, he never believed in trying to coax any grandchildren into the business," Margo advised, adding the older ones now work in the investment arena, the theatre, the internet, medical clinics, not for profits, and small enterprises – all unrelated to malls.</div>
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<p>And his sons collectively, had worked alongside their father for more than 90 years "and it's time," Margo concluded.</p>
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It has been suggested the red Westfield brand will prevail, at least in English speaking world. </div>
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<div>Unibail-Rodamco's chief executive,Christophe Cuvillier a French retail veteran, spent three years in Sydney in the 1990s as head of L'Oreal's Australian luxury products division.</div>
<div> </div>
<div>The news comes just a week after property company, Hammerson, announced it had made a bid to take over rival firm, Intu.</div>
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