Developer Third.i has topped out its luxury Potts Point apartment development, <a href="https://www.apartments.com.au/new-apartments/muse-potts-point-30-34-brougham-street-potts-point-nsw-2011">Muse</a>.

Under construction by Dilcara and expected to complete in mid-2026, Muse comprises just 13 apartments designed by acclaimed architects <a href="https://www.apartments.com.au/architects/wmk-architecture">WMK Architecture</a> and Mathieson. The building’s design celebrates Potts Point’s heritage character while introducing refined modern elements like advanced building technology and private balconies and terraces that offer views of the Sydney city skyline.

[smartcode_project:default project_id=112613 project_image_fid=231687]

Luke Berry, Director &amp; Co-Founder at Thirdi Group, said Muse is a celebration of Potts Point’s unique character and charm.

"With only 13 residences, we’ve created something truly special for those who appreciate exclusivity and design excellence," Berry says"

"The views, the location, and the lifestyle make Muse a rare opportunity in Sydney’s property market. We’re thrilled to see the project take shape and look forward to welcoming our residents in mid-2026.”

[smartcode_project:default project_id=112613 project_image_fid=231686]

Only a limited number of residences remain at Muse.

Third.i recently launched The Rushcutters nearby, also just 13 large-scale apartments. The two-bedroom apartments were all snapped up in double-quick time. The three-bedroom apartments are priced from just under $5 million.

Potts Point has always been popular for apartment living, but given the lack of suitable development sites in the affluent suburb, new apartment developments have been few and far between.

Early next year Ceerose will launch <a href="https://www.apartments.com.au/new-apartments/belgravia-potts-point-117-victoria-street-potts-point-nsw-2011">Belgravia</a>, a mix of two- and three-bedroom apartments on Victoria Street.

[smartcode_project_cta:default project_id=112613]

Staff Writer

Third.i tops out Muse, Potts Point apartments

Buyer interest in Capital Corporation’s <a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> has been gaining momentum following the recent groundbreaking and the commencement of construction.

Enquiry data has pointed to a clear theme: larger apartments are leading demand, particularly among downsizers who want to remain on Sydney’s Upper North Shore.

Since June, three-bedroom layouts have attracted the highest level of enquiry. The three-bed, two-bath, two-car apartments priced from $1.69 million generated the most enquiries, the highest of any floorplan, followed by the larger three-bed garden residences which are priced at $2.25 million.

It's been a prevailing theme for Capital Corporation, who, in the early stages of marketing, reacted to buyer feedback to create more three-bedroom apartments.

The numbers echo what <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a> has observed since the project’s early stages. Buyers want generous internal space, established amenity and the ability to age in place without leaving the area.&nbsp;

[smartcode_project:default project_id=135247 project_image_fid=284378]

Capital Corporation Managing Director Jim Hunter said this was a major factor in the estate’s momentum, noting that “the combination of premium design, convenience and direct access to Sydney’s leading private hospital has proven to be a major drawcard”.

That connection to health and wellbeing has proven especially influential for older owner-occupiers. Research commissioned by Capital Corporation found that one in three Australians downsizing do so for health-related reasons, with a third specifically seeking proximity to medical facilities.&nbsp;

[smartcode_project:default project_id=135247 project_image_fid=262185]

The buyer profile emerging at <a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a> Estate reflects this shift. Local residents Peter and Corinne Collins, both in their mid-70s, are among those who chose to downsize within the suburb after decades in their family home. They secured a top-floor three-bedroom apartment after queuing on launch day in March, citing the bushland setting, walkability, and peace of mind of being close to medical services as key reasons for their purchase.

“Being able to walk everywhere, including to the hospital if we need to, really gave us peace of mind,” Corinne told Apartments.com.au.

Read more: <a href="https://www.apartments.com.au/news/nsw/from-family-home-to-bushland-retreat-why-peter-and-corinne-chose-the-residences-at-wahroonga-estate">From family home to bushland retreat: Why Peter and Corinne chose The Residences at Wahroonga Estate</a>

[smartcode_project:default project_id=135247 project_image_fid=3629]

Architecture firm <a href="https://www.apartments.com.au/architects/group-gsa">Group GSA</a>&nbsp;are behind the design at The Residences at Wahroonga Estate. There are 128 one-, two-, and three-bedroom apartments, complete with interiors&nbsp;by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>. Floor-to-ceiling glass maximises views of the bushland ridgeline, while on-site amenity includes a residents’ lounge, pet-friendly Green Spine, BBQ pavilion and direct access to Coups Creek bushland and walking tracks.

Gold Star iCIRT-rated builder&nbsp;<a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>&nbsp;was&nbsp;appointed earlier this year to deliver The Residences at Wahroonga Estate. They are expected to complete the building in late 2027, with residents to move in shortly after.

[smartcode_project_cta:default project_id=135247]

Joel Robinson

Downsizer demand continues to shape The Residences at Wahroonga Estate

With Brisbane’s housing market soaring and home ownership becoming increasingly out of reach for many buyers, townhouses have emerged as the new urban dream, offering private, low-maintenance retreats complete with pools, parklands, and lifestyle amenities.

As Brisbane faces a growing shortage of quality new residential offerings, <a href="https://www.apartments.com.au/developers/honeycombes-property-group">Honeycombes Property Group</a> has released to the market Songbird Terraces, a boutique development of just 34 terrace homes in the heart of the leafy residential enclave of Oxley.

Offering a more affordable option to the white picket fence house, buyers can purchase a brand new architecturally designed three bedroom terrace home overlooking park and bushland with a communal heated pool, BBQ terrace, private parklands and an on-site café, while being just minutes from <a href="https://www.apartments.com.au/developments/oxley-qld-4075">Oxley</a>’s village centre, train station, and a range of schools and amenities.

[smartcode_project:default project_id=149443 project_image_fid=5241]

Each of the spacious three bedroom plus multi purpose room or four bedroom townhomes feature premium finishes, landscaped courtyards, designer kitchens, two-car accommodation, and optional upgrades for tailored living.

Honeycombes Property Group Managing Director Peter Honeycombe said with completion anticipated in early 2027, this was an incredibly rare chance to buy a fixed-price, brand-new, off the plan home in one of Brisbane’s most tightly held and liveable suburbs, without the stress of auctions and chaotic open homes.

“With prices starting from $1.195 million, <a href="https://www.apartments.com.au/new-townhouses/songbird-terraces-oxley-10-honeyeater-circuit-oxley-qld-4075">Songbird Terraces</a> are designed for owner occupiers seeking space, style and lifestyle, without the maintenance,” Honeycombe said.

“Surrounded by natural bushland and close to manicured parks, walking trails, boutique shops, cafes, cinemas and golf courses, Oxley continues to stand out as one of Brisbane’s most liveable suburbs.”

[smartcode_project:default project_id=149443 project_image_fid=355541]

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> Residential Director Andrew Scriven said with a limited number of homes available, Songbird Terraces was attracting strong interest from families, upsizers, first home buyers and downsizers looking for quality, location and long-term value.&nbsp;

“Demand is high, supply is low, and the market is crying out for high-quality homes in established well connected areas like Oxley,” Scriven said.

“What was once seen as a compromise between a house and an apartment a townhouse has now become a lifestyle choice, more and more homebuyers are shifting their focus from traditional detached houses to modern, low-maintenance townhouses that offer greater value and convenience.

“As the city’s population grows and urban sprawl becomes less sustainable, Brisbane’s townhouse market is set to expand even further.&nbsp;

“There’s definitely a panic from buyers who’ve been pushed out of the house market but still want to stay in well-connected suburbs with great schools and amenities, they are worried they will miss out as property prices continually rise.”

[smartcode_project:default project_id=149443 project_image_fid=5238]

After eight years of calling Australia home, Agnes Skoraczewska and Matt Biskupski decided it was finally time to take the next step and purchase a home of their own. With property prices continuing to climb, the couple didn’t want to wait any longer and secured a three-bedroom plus multi purpose room townhouse at Songbird Terraces, locking in a fixed price ahead of their move in 2027.

“The truth is, we didn’t want to wait any longer,” Biskupski said. “Seeing what was happening in the market, we realised now was the right time to buy. It gives us peace of mind knowing we no longer have to worry about renting.”

When they discovered Songbird Terraces, the decision came easily.

“The area is lovely and quiet, yet still so close to the city, it’s the perfect balance for work and life,” Skoraczewska said. “It’s a place where we can recharge our batteries while staying connected to everything we need.”

[smartcode_project:default project_id=149443 project_image_fid=5237]

For Agnes and Matt, buying off the plan offered the ideal solution, the confidence of securing their dream home at today’s prices, and the excitement of planning for the future in a community that perfectly fits their lifestyle.

As the final residential precinct within the Songbird Oxley master plan, Songbird Terraces will continue to breathe new life into the area and help create a suburb destination rich in lifestyle amenity.

Colliers Residential Director Lily O'Connell said Songbird is positioned to take full advantage of elevated north and east-facing parkland views, the homes feature low-maintenance design and high energy efficiency to reduce ongoing costs while enhancing everyday comfort.

“And with an array of layouts, catering to a diverse range of lifestyles this is an offering for all,” O'Connell said.

“This is the final release in a masterplanned community that’s become one of Oxley’s most desirable addresses, offering a last chance to enter this community where opportunities are few and far between.”

The homes will be delivered by Clearcon Builders, specialists in premium townhome construction. They will commence construction before Christmas, and is aiming to complete the development in early 2027.

<h2>Songbird Terraces Snapshot</h2>

<ul>
	<li>34 architecturally designed 3 bedroom + multi-purpose room terrace homes.</li>
	<li>An array of layouts, catering to a diverse range of lifestyles.</li>
	<li>Perfectly positioned to take advantage of north and east views over park and bushland.</li>
	<li>A multi-purpose room, which can serve as a second living area, teen retreat, study or fourth bedroom.</li>
	<li>Designer kitchens featuring high quality engineered stone benchtops and European appliances.</li>
	<li>Spacious outdoor living areas and landscaped courtyards perfect for alfresco dining.</li>
	<li>Generous internal and external spaces, designed to take advantage of views overlooking park and bushland.</li>
	<li>Low maintenance, energy efficient &amp; two car accommodation.</li>
	<li>Access to a heated resort-style pool, outdoor entertaining terrace and beautifully landscaped gardens and park.</li>
</ul>

[smartcode_project_cta:default project_id=149443]

Songbird Terraces offer 34 architect-designed townhomes in private enclave, surrounded by bushland, parks and resort style amenity

Townhouse living, Brisbane’s new affordable urban dream?

Kirra Beach has been hot property since the onset of the pandemic in early 2021.

Development sites were snapped up, projects sold out, and many of those developments are now beginning to be handed over to purchasers.

The latest entrant to Kirra, timing its arrival perfectly with little to no new off the plan apartment stock currently on the market in the area, is <a href="https://www.apartments.com.au/developers/pyco-group">Pyco Group</a>, which is expanding its South East Queensland footprint through projects such as Atelier in West End and Nouveau in Albion, both currently under construction and scheduled for completion next year.

They recently launched <a href="https://www.apartments.com.au/new-apartments/onde-kirra-10-churchill-street-kirra-beach-qld-4225">Ondé Kirra</a>, quietly set on Miles Street just a stone’s throw from the sand and the world-renowned surf break at Rainbow Bay.

[smartcode_project:default project_id=143621 project_image_fid=337600]

The current release focuses on a wide variety of three-bedroom configurations, from layouts starting at $1.89 million and offering nearly 130 sqm of space, to larger three-bed options approaching 160 sqm and oriented north-east to capture views over the ocean and the length of the Gold Coast skyline.

Each apartment follows a layout that prioritises light, airflow, and connection to the outdoors. Interiors are shaped by a warm, coastal-inspired palette that balances soft neutral tones with natural timbers. Kitchens feature premium finishes and flow directly into dining and living zones, framed by full-height glazing. Many apartments offer wraparound views and corner orientations to maximise natural light from multiple angles.

[smartcode_project:default project_id=143621 project_image_fid=337613]

There are just 90 apartments in the 14-storey building designed by DAH Architecture.

Beyond the apartments, Ondé’s offering is rounded out by a series of resident-only amenities designed for comfort and practicality. These include a fitness studio, outdoor pool, co-working pods, and lush communal spaces on the ground floor.

[smartcode_project:default project_id=143621 project_image_fid=337597]

Rawcorp kicked off construction on site just over three months ago, demolishing the two houses and two original walk-up unit blocks.

The award-winning construction firm is expecting to complete Ondé&nbsp;in mid-2027.

[smartcode_project_cta:default project_id=143621]

Ondé Kirra times entry to booming southern Gold Coast market as apartment options shrink

The Wentworth Park Sporting Complex and its immediate surrounds will make way for new housing and sporting facilities, the latest rezoning play by the Minns Labor Government to meet Sydney's housing supply crisis.

The 3.3-hectare Wentworth Park Sporting Complex will be&nbsp;converted into community sporting fields and public green space, allowing for the rezoning of the surrounding area to support up to 2,500 additional well-located homes.

These are in addition to the 4,800 homes already planned or approved nearby, including around 2,000 homes on the old Sydney Fish Market and neighbouring sites, bringing the precinct total to as many as 7,300 new homes.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/mirvac-to-develop-over-1-400-new-homes-on-former-sydney-fish-market-site">Mirvac to develop over 1,400 new homes on former Sydney Fish Market site</a>

In addition to the new housing and sporting facilities, the Wentworth Park precinct will be immediately adjacent to transport links including a new ferry stop at Sydney Fish Markets, an upgraded light rail station at Wentworth Park, a continuous 15-kilometre coastal boardwalk from the Blackwattle Bay to Woolloomooloo, and the Pyrmont Metro station, which is set to open in 2032.

When the current greyhound lease expires in September 2027, the existing facilities will be demolished and the land transferred to the City of Sydney to be converted into community sports fields. Current estimates suggest around 20 additional sport fields are required in the city area by 2031 in order to meet the needs of the sporting community.

The new 14-hectare park will also be made available for hosting festivals and community events as a condition of the transfer to ensure the new harbourside parklands can be utilised by the whole community.

“We recognise Wentworth Park holds deep history and meaning for many people, and we know some will be disappointed by this change," NSW Premier Chris Minns said, adding however that "cities change, and we&nbsp;have a responsibility to plan for the future.

“Right in the middle of Sydney and connected by rail, light rail, ferries and the future Metro, our plan for the future of Wentworth Park will deliver much-needed new housing while also providing up to 20 new community sporting fields.

“This is more homes, more playing fields and better public spaces, alongside the infrastructure that makes neighbourhoods work. This is homes and community facilities delivered together, not one without the other.”

“This is how we build a fairer and more balanced Sydney. By creating new housing in well-serviced areas, instead of pushing growth to places without the transport and infrastructure to support it.”

Minister for Planning and Public Spaces Paul Scully said&nbsp;Wentworth Park has a long and proud history.

"Today we’re securing its future for the next generation," Scully said.

"This plan keeps land in the public hands and delivers new homes, new sporting facilities and new open space for a community that is growing fast. Our city is changing, and we have a responsibility to make sure people can live near the jobs, education and transport they rely on. We’ll continue working closely with the City of Sydney to deliver this rezoning in a timely way, and we’re ready to step in with a State-led rezoning if it’s needed."

Minns Gov to demolish Wentworth Park Sporting Complex to make way for 2,500 new homes and sporting facilities

Court Case

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ASIC has now commenced proceedings in the Federal Court against ANZ for misrepresentation and unconscionable conduct.
ASIC will allege that ANZ was not entitled to charge certain periodic payment fees under the bank’s contracts with its customers.
Between August 2003 and 23 February 2016 (the 2003-2016 Period), ASIC alleges that ANZ wrongly charged transaction fees and non-payment fees for periodical payments between accounts in the same name.
They stated, transaction fees were charged when a periodical payment was successful, and non-payment fees were charged when a periodical payment could not be made due to insufficient funds in the customer’s account.
During the 2003-2016 period the transaction fee for periodical payments varied between $1.70 and $4 for business accounts and was either $4 or free for retail accounts. And the non-payment fee for periodical payments varied between $35 and $45 for business accounts and was between $6 and $45 for retail accounts.
ASIC alleges that between 26 July 2013 and 23 February 2016, ANZ unlawfully charged the fees on at least 1,340,087 occasions.
ASIC estimates that the total gross loss to customers during the period 1 January 2008 to 23 February 2016 is in excess of $50 million. ANZ has paid approximately $28 million in remediation to customers to date.
However, ANZ has not paid remediation to customers who have been charged the fees prior to 31 December 2007.
The authority contends that ANZ first became aware there was a risk the bank was not entitled to charge these fees in July 2011. 
However, ASIC will say that ANZ did not:
1. provide written notification of the existence of a possible issue in relation to the fees to ASIC until 14 February 2014; 2. commence notifying affected customers about the issue until at least 23 September 2015; 3. change its terms and conditions to permit the charging of the fees until 23 February 2016; and 4. commence making remediation payments in relation to the unlawfully charged fees until August 2016. 5. At the heart of ASIC’s action is the fact that ANZ continued to charge the fees during the 2003-2016 Period, despite what ANZ already knew.
ANZ first reported the matter to ASIC in February 2014.
ASIC stated, "in September 2018, ANZ contacted ASIC advising that information they had previously provided to ASIC relating to ANZ’s identification of the issue was incomplete. As a result of the new information, ASIC commenced an investigation into ANZ in October 2018."
"ASIC alleges ANZ breached section 912A(1)(a) and (c) the Corporations Act 2001 (Corporations Act) which requires a licensee to ensure that the financial services covered by its licence are provided efficiently, honestly and fairly and to comply with financial services laws because it amongst other things, provided incomplete or misleading information when it reported the issue to ASIC in February 2014."
"ASIC further alleges breaches by ANZ of the Australian Securities and Investments Commission Act 2001 (ASIC Act), including that ANZ engaged in misleading or deceptive conduct, made false or misleading representations and engaged in unconscionable conduct because the bank:"
1. continued to charge the fees when it knew that the fees were unlawful or were at risk of being unlawful; 2. knew that it was highly unlikely that it would be able to remediate all affected customers; 3. failed to inform customers who may have been affected by its unlawful charging until September 2015; and 4. deliberately did not make remediation payments to customers who had been charged the fees between August 2003 to 31 December 2007. 5. The ASIC Act contraventions attract a maximum pecuniary penalty of between $1.7 million and $2.1 million per contravention.
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j.ballantyne1990-6AQqhLzZaK

ASIC sues ANZ for unconscionable conduct over unlawful transaction fees

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The big fines and directorship bans on Octaviar executives over the dishonest use of investors’ funds have been upheld by an appeals court.
The Queensland Court of Appeal has published reasons for judgment dismissing the appeals of Craig Robert White and Guy Hutchings, who were officers of MFS Investment Management Limited (MFSIM), the former responsible entity of the Premium Income Fund (PIF). 
An appeal by Marilyn Anne Watts, a former funds manager of PIF, was also dismissed. 
White, Hutchings and Watts were ordered to pay ASIC’s costs of their appeals.
In a separate appeal brought by Michael Christodoulou King, the court partially allowed the appeal finding that King had not contravened the Corporations Act as an ‘officer’ of MFSIM at the relevant time. The court found that his contraventions were limited to his being knowingly concerned in MFSIM’s contravention by the misapplication of $130 million of PIF’s money.
The court has given further directions to King and ASIC in relation to the finalisation of his appeal.
The proceedings relate to breaches committed in connection with the misappropriation of $147.5 million of funds that had been held by the PIF on behalf of unitholders.  The misappropriated funds were used to pay debts owed by other entities in the MFS Group (also known as Octaviar) and false documents were created, some backdated and used to purportedly justify the use of the funds. The MFS Group collapsed in 2008 owing approximately $2.5 billion.
In May 2016, the court found that King, White, Anderson, Hutchings and Watts had collectively committed 217 contraventions of the Corporations Act (16-158MR).  The court found that King, White, Anderson and Hutchings had breached their duties as officers of MFSIM to act honestly and in the best interests of members of PIF.  Watts was found to have been involved in MFSIM’s breach of its duty to act honestly and in the best interests of members of the fund.
In May 2017, after more than 70 days of hearings, excluding interlocutory hearings and appeals, Justice Douglas made orders, imposing substantial disqualifications from managing corporations, pecuniary penalties and other relief in relation to the officers and the funds manager.
In June 2017, King, White, Anderson, Hutchings and Watts each appealed from the decision of the court at first instance
Anderson filed a notice of discontinuance of his appeal in September 2017, agreeing that his appeal be discontinued and that he pay ASIC’s costs of his appeal.
The remaining appeals were heard over 11 days in June 2018.
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Appeals dismissed over convictions following MFS Group collapse 

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The trial of the Banksia Group proceedings which had been scheduled to commence in February 2018 has been vacated by the Supreme Court of Victoria. 
Instead the court will be hearing the plaintiff’s application for the approval of a settlement.
It has been listed for 30 January 2018 before the Honourable Justice Croft of the Supreme Court of Victoria.
Banksia investor Laurence Bolitho of Kyabram was the lead plaintiff in the case which was scheduled to run for 2.5 months.
The plaintiff has entered into a settlement of his claims made against the trustee in the Banksia Group proceedings. The plaintiff’s claim against the trustee was to recover a sum in excess of $200 million (inclusive of interest from 24 December 2012).  The settlement will only take effect if it is approved by the Supreme Court of Victoria.
As well as settling the Plaintiff’s claim in the <a href="http://www.banksiagroup.com.au/Pages/Banksia_Mortgage_Fund.aspx" target="_blank">Banksia Group</a> Proceeding, Banksia’s own claims against the trustee brought in a separate proceeding (“Liquidators’ proceeding”) will be settled as part of the settlement. Banksia’s claim against the trustee is for approximately $170 million.  The loss claimed by Banksia overlaps with the Plaintiff’s claim in the Banksia Group Proceeding.  The law prevents debenture holders recovering more than the total amount of their loss.
To settle the claims made in both the Banksia Group Proceeding and the Liquidators’ proceeding, the trustee will:
<ul>
<li>pay $64 million;</li>
<li>release Banksia from an existing claim for $3.96m for additional remuneration in respect of additional work performed by the trustee in a period of 16 months from 25 October 2012 to February 2014; and</li>
<li>release Banksia from any further claims for remuneration (as yet unquantified).</li>
</ul>
Subject to their agreeing to keep its contents confidential, group members represented in the Banksia Group Proceeding are entitled to inspect the deed of settlement.  
The Plaintiff has not settled his claims made against Banksia itself, however, the prospect of any recovery from Banksia is uncertain as Banksia has been placed into liquidation.
Meanwhile Banksia is pursuing claims against its insurance broker and insurers and Banksia is hopeful of recovery in those actions. 
The Liquidators (acting as Special Purpose Receivers) hold approximately $14 million.
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Banksia Securities class action nears settlement

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<div>
The NSW Land &amp; Environment Court has refused RDA Property Group's appeal to build seven more units at its Bronte Place apartment project on the controversial former Bronte RSL site.
RDA, headed by the former fashion identity Danny Avidan, sought an intensification of the project at at 109-113 Macpherson Street, which had been previously approved for 21 apartments last year.
RDA lodged a revised development application last December, which was refused by Waverley Council.
<img src="https://www.caselaw.nsw.gov.au/asset/59e93d2be4b058596cbab42b" height="301">
<div data-ad-size="4x4" data-device-type="web" data-ad-tar="pos=1" data-google-query-id="CO_mmOXugNACFc82lgodRO4DSw">Design of the initial<a href="https://bronteplaceliving.com.au/" target="_blank"> three storey block</a> was by architects SJB. Town planning expert witness Anthony Betros was engaged by the developer applicant and Joseph Vescio by the Council. Colin Biggers Paisley were the solicitors for the applicant with Wilshire Webb Staunton Beattie Lawyers for the respondent council.</div>
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<div id="attachment_4191">
It took four years to obtain development approval for the project which the former fashion identity Danny Avidan bought from the Sydney developer Winston Langley.
</div>
</div>
<div>
<div id="attachment_4190">
Commissioner Dickson on Tuesday dismissed the appeal due to the solar impact the additional units could cause to existing approved units.
"The proposed development results in a material change in impact to the solar amenity experienced by the approved apartments and to a lesser extent the adjoining development," the judgement ruled adding the impact arises from an exceedance of the controls.
</div>
</div>
</div>
</div>
<div>Avidan told Fairfax Media he accepted the decision.</div>
<div class="cq-article-content-paras section">
"I respectfully accept the court's decision despite the fact that I disagree with the findings. I will proceed with the current approvals," he said.
The community, led by the Save Bronte group, successfully protested the developer's decision to vary the 21-unit low-rise approval.
A three-bedroom penthouse, one of two in the boutique Bronte Place development, was sold on its launch last October, for $4 million.
<div>
It was among the $32 million worth of apartments sold in the long-awaited redevelopment on the site of the ­former RSL premises.
</div>
The project was being sold through CBRE in what was the first major apartment project in Bronte in two decades.
<div id="ad-block-9927527878-2" data-ad-size="4x4" data-device-type="web" data-ad-tar="pos=1" data-google-query-id="CO_mmOXugNACFc82lgodRO4DSw">Sales included a one-bedroom, 30sq m apartment that sold for $1.55 million. The $4 million sale was a three-bedroom, 135sq m apartment.</div>
<div data-ad-size="4x4" data-device-type="web" data-ad-tar="pos=1" data-google-query-id="CO_mmOXugNACFc82lgodRO4DSw"> </div>
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Danny Avidan loses L&E Court appeal on controversial Bronte RSL site intensification

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Allan Raad of Wentworthville, NSW and his brother-in-law Yousef Joseph Bazouni of Sandringham, NSW, have appeared in the Downing Centre Local Court on charges of breaching their director duties and fraudulently removing company assets.  ASIC alleges that Mr Raad dishonestly used his position as a director of Cornish Property Services Pty Ltd (the company) with the intention of indirectly gaining an advantage for himself and that he fraudulently removed property belonging to the company. It is also alleged that Mr Bazouni aided Mr Raad in these alleged offences.  The charges were brought against Mr Raad and Mr Bazouni following an ASIC investigation into the sale of the company assets shortly before it was placed in liquidation.  ASIC alleges that on 2 July 2011, Mr Raad sold some of the company assets to Mr Bazouni's company for $20,000.
Then, on 4 August 2011, Mr Bazouni on-sold some of those assets to an unrelated party for $176,000 and gave the proceeds to Mr Raad.
ASIC alleges that Mr Raad used the funds on personal expenses and to make preferential payments to creditors of the company to whom Mr Raad provided personal guarantees. However, Mr Raad did not make payments to other creditors of the Company. ASIC also investigated debtor payments that were owed to the Company. ASIC alleges that on 29 July 2011 and 11 August 2011 Mr Raad and Mr Bazouni redirected the debtor payments to Mr Bazouni's company. Once the money was received, Mr Bazouni transferred $21,000 to Mr Raad. Mr Raad placed the company into voluntary liquidation on 18 August 2011 having outstanding liabilities of $1,643,052.55, of which $1,115,197.12 was owed to unsecured creditors.  Messrs Raad and Bazouni appeared last week on 18 October 2017.
The matter was adjourned for mention to 21 November 2017 at the Downing Centre Local Court.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.
<h2>Mr Raad has been charged with one count under s184(2) of the Corporations Act and two counts under s590(1) of the Corporations Act. Mr Bazouni has been charged with aiding and abetting Mr Raad in committing these offences pursuant to Clause 11.2(1) of the Commonwealth Criminal Code.</h2>
 The maximum penalty for a breach of s184(2) is 2000 penalty units or imprisonment for five years, or both.The maximum penalty for a breach of s590(1) is 100 penalty units or imprisonment for two years, or both.
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ASIC move against two directors 

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Former veteran CBRE agent Rick Butler has refuted CBRE's claims that he and his company, Richard Butler Property Advisors had allegedly "conducted business that breached confidentiality agreements with CBRE".
It was his first comments since it emerged last week that CBRE has commenced legal action seeking "substantial damages."
Despite being at the firm for 27 years, Mr Butler said he was actually retrenched in August last year.
He said he had always complied with all of his obligations to CBRE during and after his employment and would be defending his reputation.
"At 66 it's encouraging that a giant international corporation like CBRE now sees me as a threat," he told The Australian Financial Review 
"I'm grateful for the support of many clients.
"In my time at CBRE we were never afraid of competition and I'm not afraid of it now.
"Legal action will in no way distract me from my work," he said. 
CBRE has stood by its claims, the paper advised.
"We are confident in the strength of our case and we are prepared to proceed through the complete legal process to achieve a successful outcome," a spokesperson said. 
Butler, one of Australia's leading real estate agents and CBRE's lead conduit to offshore capital, left the firm last year.
It is understood CBRE commenced the legal battle last Wednesday, issuing a notice to Mr Butler and his company's lawyers, with plans to resolve the dispute through mediation and arbitration.
"Former CBRE agent, Rick Butler (now of Rick Butler Property Advisers Pty Ltd) provided advisory services to CBRE in 2016 which required that he and RBPA comply with contractual obligations relating to confidentiality, utmost good faith and fidelity, and acting in the best interest of CBRE," the company said in a statement. 
"In November 2016, a number of individuals, including Josh Cullen, tendered their resignations from CBRE to join RBPA."
 "CBRE has today taken the first steps in commencing action against RBPA and Rick Butler in relation to these events.
"These actions leave CBRE no alternative but to seek substantial damages."
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Lawyered up CBRE Australia sees veteran Rick Butler as a "threat"   

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Jamie McIntyre and his brother Dennis McIntyre have accepted 10-year bans from ASIC on managing corporation or operating a financial services business.
This follows an agreement between ASIC and the brothers that the five Victorian land banking schemes, promoted through Jamie McIntyre’s 21st Century Group, were unregistered.
It also noted that they operated a financial business without a license at the time that they promoted it to their investors. Liquidators were unable to locate more than $7 million outlaid on controversial options on five landbanking schemes proposed for the outskirts of Melbourne, Bendigo and Townsville.
The McIntyre brothers also agreed to pay the $50,000 legal costs for ASIC.
Fairfax Media reported the $7 million was lost from more than 100 investors.
Justice Bromwich said that there were little prospect of reimbursement to the investors.
"[The defendants] have effectively capitulated in the face of what seemed the inevitable prospect of success [for ASIC] and reached agreement that the relief agreements were necessary and appropriate," said Federal Court Justice Bromwich in his judgement on Monday.
"Five illegal investment schemes were operated by the eight companies associated with Jamie and Dennis McIntyre," Justice Bromwich said.
Deloitte were appointed as joint liquidators to the corporate respondents to ASIC’s proceeding that commenced in August last year.
There is an unrelated property group by the same name. 
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Landbanking 21st Century's Jamie McIntyre and brother accept 10 year bans from ASIC

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ASIC has discontinued its proceedings against Simon Tickner and Lisa Darcy, former directors of LM Investment Management Ltd (LMIM). 
In 2014, ASIC commenced civil penalty proceedings in the Federal Court of Australia seeking financial penalties and banning orders following the collapse of the Gold Coast-based fund manager against founder Peter Charles Drake and former directors Francene Maree Mulder, Eghard van der Hoven, Simon Jeremy Tickner and Lisa Maree Darcy.
The claims against Mr Tickner and Ms Darcy focused on their conduct as directors in signing off a loan to Maddison Estate Pty Ltd, which Mr Drake owned and controlled, in 2011. Proceedings against the other directors focused on both the 2011 transaction and another transaction that occurred in 2012.
The trial commenced on 29 August 2016. On 12 September 2016, after the close of its case, ASIC discontinued its claim against all directors in relation to the 2011 transaction.   
The proceeding related to the 2012 transaction continues against Mr Drake, Ms Mulder and Mr van der Hoven and has been adjourned until 23 September 2016 for closing submissions.
LMIM was the responsible entity for seven registered managed investment schemes and the trustee for MPF, an unregistered managed investment scheme with about 4,500 investors. More than $400 million was invested in MPF. In total, LMIM was responsible for managing at least $800 million on behalf of approximately 12,000 investors in Australia and overseas.
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ASIC discontinues proceedings against LM Investment directors

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The former property developer Warren Anderson is suing the mortgage fund, Angas Securities and his receivers KordaMentha.
He is seeking $174 million, claiming they acted inappropriately in selling up his assets and forcing him into bankruptcy.
The lodgement of the statement of claim by Warren Anderson and his children, revealed today in The Australian, comes as shares in Angas on second-tier bourse the National Stock Exchange of Australia were suspended from trading yesterday given its wider concerns.
The Australian on Tuesday revealed Angas, which owes investors $220 million, had missed another deadline to repay investors.
Facing major financial problems, Angas has failed to meet any of the first three instalments in time and in full and trustee The Trust Company has said it is now “deeply concerned” Angas will not be able to make the payments.
The Anderson issue arose after Anderson’s family trust Owston Nominees No 2 borrowed money from Angas.
In March 2009 Angas appointed receivers KordaMentha to the trust following a breakdown of Mr Anderson’s marriage.
KordaMentha and Angas took control of Owston’s biggest asset, the Fernhill mansion at Mulgoa in western Sydney.
A spokeswoman for KordaMentha told the Australia the firm was not handling the case because the two former partners who had overseen the Owston receivership, Chris Powell and Stephan Duncan, were no longer with the company.
Their Adelaide-based firm DuncanPowell would be responding to Mr Anderson’s claims, she said, although they had not yet been served so were unable to comment.
Fernhill is currently for sale. Set on 383 hectares at the foot of the Blue Mountains, its stunning seven bedroom sandstone residence was completed in the 1840s for the Cox pioneering family.
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