Growing national developer Time &amp; Place has announced its fifth new apartment development.

With two projects in Manly and two upcoming in Surry Hills and Potts Point, the developer, which expanded beyond Melbourne just a few years ago, is now heading to Mosman. It is planning 53 new apartments on Redan Street.

The 3,233 sqm site, spanning <a href="https://www.apartments.com.au/new-apartments/40-48-redan-street-mosman-nsw-2088">40–48 Redan Street</a> with frontage to Redan Lane, is located just under 400 metres from Spit Junction Town Centre. It is reported the developer paid around $100 million for the five-site amalgamation.

Time &amp; Place, founded by Tim Price and backed by James Packer’s private investment firm NPACT, has submitted the project as a State Significant Development through the NSW Government’s Housing Delivery Authority pathway.

Of the 53 apartments, 42 will be released to the market, with the remaining 11 allocated as affordable housing in line with NSW Government requirements.

fjc Studio has designed the building. In its Design Report, the architect said the diverse mix of dwelling types and sizes, including 11 two-bedroom affordable housing units, 40 three-bedroom apartments, and two four-bedroom residences, will support a broad demographic, including families, downsizers, and key workers.

The development will rise to nine levels, a height encouraged by the NSW Government due to the site’s proximity to Spit Junction, which has been identified as a low- to mid-rise centre. Developments within a certain proximity to these centres are permitted increased height.

fjc said the project “achieves an appropriate density outcome for its setting by balancing increased housing supply with strong amenity performance,” adding that it “makes a measurable contribution to NSW housing supply targets through the delivery of additional dwellings and dedicated affordable housing.”

The new development will replace five existing two-storey homes.

“By aligning with the objectives of the Housing SEPP and applying careful architectural and urban design principles, the development provides high-quality residential accommodation that integrates sensitively within its established Mosman context and delivers enduring benefits to residents and the wider community.”

Mosman has become increasingly popular with developers in recent years.

Developer Abadeen has been particularly active, with Mosman Residences currently on the market and under construction on Clifford Street. It also has an upcoming Burran Avenue project, comprising just three apartments on the Balmoral Slopes, and recently secured the Midas and Honeysuckle nursery site on Military Road.

Prosker Property has a project on Redan Lane, just a few doors down from Time &amp; Place’s proposed development.

Developers including Toohey Miller, DARE Property Group, and WINIM also have projects underway in the area. In 2024, a five-year target was set for the Mosman LGA to increase housing supply by 500 dwellings by 2029.

Time &amp; Place entered the Sydney market with Two Tides, its under construction Manly development. Given its sales success, it has secured another development in the area, more boutique, facing the beach on North Steyne.

They are hoping to launch their redevelopment of The Chimes in Potts Point this year, and next year will look to take to market Marlborough House, an adaptive re-use of the landmark David Jones warehouse in Surry Hills.

Joel Robinson

Time & Place to take on Mosman apartment market

Brunswick’s civic heart continues to consolidate around the Merri-bek Arts and Culture Precinct, where a growing cluster of cultural institutions, recreation facilities, and public infrastructure has created one of the inner north’s most defined community hubs.&nbsp;

Within this evolving precinct, <a href="https://www.apartments.com.au/new-apartments/saxon-street-by-milieu-brunswick-31-saxon-street-brunswick-vic-3056">Saxon Street by Milieu</a> introduces new housing directly alongside the civic anchors that shape daily life in the suburb.

At 31 Saxon Street, the project sits immediately beside Brunswick Baths and within moments of Brunswick Library and Town Hall, longstanding institutions that support both community services and everyday amenity.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348840]

Next door, the newly delivered Balam Balam Place arts precinct has emerged as a central piece of Merri-bek Council’s cultural strategy, bringing together creative studios, exhibition spaces, maternal and child health services, and community programming in a purpose-built civic facility. Together, these destinations have reinforced the surrounding blocks as a focal point for public life in Brunswick.

This part of <a href="https://www.apartments.com.au/developments/brunswick-vic-3056">Brunswick</a> forms a key pocket within the suburb’s designated Major Activity Centre, where long-term planning has prioritised walkability, civic investment, and increased housing supply close to transport and services. The surrounding street network reflects that strategy, with compact blocks, established retail corridors and active transport links supporting a lifestyle that is largely navigable on foot.

Within a few minutes’ walk, Sydney Road delivers one of Melbourne’s most recognisable streets, known for its long-running mix of independent retailers, international dining venues and everyday convenience. Tram routes along Sydney Road provide frequent connections south toward the CBD and north through Brunswick and Coburg, while Jewell Station on the Upfield line sits within roughly a ten-minute walk, offering direct train access into the city.

[smartcode_project:default project_id=136434 project_image_fid=348839]

Active transport also plays a significant role locally. The nearby Upfield Bike Path forms a key north–south cycling corridor linking Brunswick through Parkville and into the central city, reinforcing the area’s reputation as one of Melbourne’s most accessible inner-urban neighbourhoods for cyclists and pedestrians alike.

The surrounding civic cluster extends beyond cultural infrastructure. Siteworks, a nearby creative hub supporting artists and community organisations, adds to the concentration of cultural activity in the immediate area. Educational institutions such as Brunswick North Primary School, Brunswick Secondary College and RMIT’s Brunswick campus are also within easy reach, contributing to the suburb’s diverse resident base spanning families, students and professionals.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348841]

Designed by <a href="https://www.apartments.com.au/architects/jackson-clements-burrows-architects">Jackson Clements Burrows Architects</a> in collaboration with <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> and landscape architects <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, the nine-level building has been shaped to respond to the surrounding streetscape, with lower levels aligning to the street and upper storeys stepping back to soften its scale and improve solar access.&nbsp;

Curved balcony forms reference nearby heritage architecture, while the development’s public realm improvements include a widened footpath along Saxon Street to strengthen pedestrian connections between the precinct’s civic sites.

Sustainability also underpins the project’s approach. The building is designed to operate entirely on electric infrastructure supported by rooftop solar, with an average 7.5-star NatHERS energy rating and EV-charging readiness across the development. Shared resident amenities will include a landscaped rooftop terrace with barbecue and covered dining areas intended to encourage informal interaction between residents.

Saxon Street marks developer Milieu's fifth project in Brunswick and continues its focus on design-led infill housing across Melbourne’s inner suburbs.&nbsp;

Construction has commenced through reputable builder Manresa, who will complete the project in 2027.

[smartcode_project_cta:default project_id=136434]

Saxon Street by Milieu connects residents to Brunswick’s cultural and civic core

Within <a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a>, <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>&nbsp;takes a different approach to larger residences, moving away from the constraints of a single level.

In Grand Residence 3.05, known as the Lustre, plays out across two levels, with a mezzanine configuration that is uncommon in apartment living.

Lustre is a four-bathroom residence where the layout creates a clear distinction between shared and private zones, with uninterrupted views toward the Dandenong Ranges extending the sense of openness from the main living areas.

Entry is to the primary living level, where the kitchen, dining, and living areas are arranged as one continuous space. Timber flooring runs throughout, with a fireplace set within the living zone. Full-height glazing brings in natural light, supported by double glazing that improves thermal performance.

[smartcode_project:default project_id=342 project_image_fid=357506]

The kitchen is configured as both a working and social space. A large island bench provides seating, while a walk-in pantry extends storage beyond typical apartment expectations.

Gaggenau appliances, including a 900mm gas cooktop and 600mm oven, are integrated into a layout that connects directly to the adjacent dining and living areas, and outward to the terrace. This balcony includes a built-in BBQ, reinforcing the apartment’s capacity to accommodate larger gatherings without compromising internal space.

A dedicated laundry room, powder room, and a wine cellar area sit discreetly off the main living zone, ensuring that functional requirements are resolved without encroaching on primary living areas. The master suite is also located on this level, designed as a retreat with a walk-through wardrobe and an ensuite that includes double vanities, a bath, and a dedicated dressing table.

[smartcode_project:default project_id=342 project_image_fid=357508]

The mezzanine level introduces a second layer of living, rather than simply additional bedrooms. Two large bedrooms with built-in robes are positioned alongside a central bathroom, while a secondary lounge and study area create a self-contained zone suited to children, guests, or extended family. A large storage room further supports long-term usability, addressing a common shortfall in apartment design.

This separation of levels is central to how the residence functions day-to-day. It allows the lower level to operate as the primary entertaining and living space, while the upper level provides privacy and flexibility. The result is closer in feel to a townhouse or standalone home, but with the benefits of apartment living, security, and low maintenance.

[smartcode_project:default project_id=342 project_image_fid=364553]

Candela is close to 80 per cent complete, with Ironside delivering construction ahead of its expected October 2026 completion. The development comprises 58 residences, with a strong owner-occupier profile and a mix of one to four-bedroom apartments and loft-style townhouses.

Candela has exclusive access to private amenities, including a residential lounge and rooftop terrace. A charming café and a lifestyle wellness centre are located on the ground level, designed to foster community connection and extend the living experience beyond individual apartments without competing with the scale of homes like Lustre.

Candela, positioned in the heart of Ivanhoe Village, reinforces the practicality of the address. With a Walk Score of 90, residents are within immediate reach of cafés, retail, parklands, and Ivanhoe Station, while also benefiting from proximity to established schools and healthcare services.

[smartcode_project_cta:default project_id=342]

Inside Lustre: Grand Residence 3.05 at Candela Ivanhoe

<a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a> is being shaped around a simple but increasingly rare premise in apartment development: that the built environment should actively support residents’ wellbeing.&nbsp;

Located on the former ABC Studios site on Gordon Street in Melbourne’s south-east, the new neighbourhood sits on an expansive 11,740 sqm site neighbouring the heritage-listed Rippon Lea Estate, whose gardens date back more than 140 years.

Rather than positioning wellness as an add-on amenity, the development integrates it into the physical planning of the site. Architecture by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> is arranged across six low-rise buildings set within extensive landscaping designed by <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, with more than 40 per cent of the land dedicated to gardens and green space. Walking trails, pocket gardens, and mature trees are threaded between buildings, creating a network of green corridors that encourage residents to move through the precinct on foot and spend more time outdoors.

[smartcode_project:default project_id=136535 project_image_fid=288420]

Milieu has intentionally framed these gardens as an extension of the neighbouring Rippon Lea Estate. More than 16,000 new plants will be introduced across the site, with species carefully selected to protect and complement the area’s ecological significance. The approach focuses on strengthening existing environmental conditions while establishing new habitats that support native wildlife, reinforcing the role of the landscape as both an active ecosystem and a defining element of daily life.

A private resident gate will provide direct access to the historic grounds during opening hours, allowing residents to move seamlessly between the development’s landscaped gardens and the estate’s expansive lawns, lakes, and mature trees. The project’s gardens will also be maintained by the same gardeners responsible for Rippon Lea, reinforcing the visual and ecological continuity between the two landscapes.

Complementing the landscape is a dedicated wellness hub designed to support everyday health and recovery. Residents will have access to a gym alongside yoga and Pilates studios, while mineral pools and infrared saunas provide spaces for relaxation and restorative wellbeing. Shared lounges, workshop spaces, and pet care facilities expand the concept of wellness beyond fitness, creating opportunities for social connection and community interaction within the precinct.

Environmental performance is another key component of the project’s wellbeing focus. Elsternwick Gardens will be entirely fossil-fuel-free, with homes designed to operate on renewable electricity rather than gas. Passive design strategies, including cross-flow ventilation, high-performance insulation, and thermally broken double glazing, are intended to maintain comfortable indoor temperatures while reducing energy demand. Solar photovoltaic systems will power common building services, while rainwater harvesting will help irrigate the extensive landscaping across the site.

[smartcode_project:default project_id=136535 project_image_fid=361030]

Milieu Founder and Managing Director Michael McCormack says the scale and setting of the project allowed the team to take a different approach to urban apartment living.

“This site represents a once-in-a-lifetime opportunity to build something truly special,” McCormack says.

“Through that process, we arrived at a design that centres on a fully realised natural landscape – a series of private, interconnected gardens that encircle the homes and extend seamlessly from Rippon Lea Estate.”

Elsternwick Gardens will comprise three residential offerings, Gordon Place, Ripponlea Terrace, and The Garden Pavilion, each designed for owner-occupiers and shaped around high-quality interior design by Woods Bagot, K.P.D.O., and Flack Studio. The first stage, Gordon Place, includes one-, two-, and three-bedroom apartments designed with a strong focus on indoor-outdoor living and sustainability.

[smartcode_project:default project_id=136535 project_image_fid=288412]

Milieu recently appointed <a href="https://www.apartments.com.au/builders/brady-constructions">Brady Constructions</a> to deliver the project, marking a key milestone for the development. The appointment follows the demolition of the former studio buildings on the Gordon Street site, with construction progressing toward the delivery of the nature-led community.

Situated between the established villages of Elsternwick and Ripponlea, the development balances its garden setting with strong urban connectivity. Residents will be within walking distance of cafés, restaurants, and local retail, while nearby train and tram connections provide quick access to Melbourne’s CBD and the beaches of Elwood and St Kilda.

With construction underway and the first residents expected to move in by early 2027, Elsternwick Gardens represents a growing shift in apartment development toward environments that prioritise wellbeing as much as density or location. By placing landscape, sustainability, and shared spaces at the centre of the design, Milieu is positioning the project as a residential neighbourhood where wellness is not just promoted, but built into the structure of everyday life.

[smartcode_project_cta:default project_id=136535]

Elsternwick Gardens' wellness-first design strategy

Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Red & Co unveils amenity-rich Como development in Varsity Lakes

Cyber Security

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There has been an arrest following the data breaches at property valuation firm Landmark White earlier this year.
The NSW Police Force Cybercrime Squad were acting on the <a href="/news/landmark-white-limited-reports-property-valuations-data-breach">cyber security hacks </a>that occurred in February <a href="/news/landmark-whites-viability-in-doubt-after-second-saboteur-valuation-leak">and June</a>. 
In June detectives from the NSW State Crime Command’s Cybercrime Squad established Strike Force Vide to investigate unauthorised access to the main database and document store of the company.
With the assistance of company staff, investigations identified that unauthorised access was gained into the company’s database and more than 170,000 data records including personal information and valuation documents were uploaded to the dark web and the internet.
Following extensive inquiries, strike force detectives arrested a 49-year-old man in Sydney’s CBD about 8am today.
<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/2019/10/2/Landmark%20White%20NSW%20Police.jpg" alt="">
Shortly after the arrest, detectives, assisted by the Public Order and Riot Squad, executed a search warrant at a home at Rozelle, and a crime scene warrant at a business data centre at Ultimo.
The man, who is a software contractor, has been taken to Surry Hills Police Station, where he is expected to be charged.
Investigations under Strike Force Vide are continuing.
Timothy Rabbitt, CEO of LMW, said “the arrest was a great relief for the business and our staff, and would help ease the stress many of our staff have felt over the last six months”. 
“The arrest was also a vindication of LMW’s stance that this was a serious crime committed against the company. We are grateful that the person arrested was not an employee.
“We hope today’s arrest will bring closure to these data incidents and will give confidence to LMW’s clients, partners and staff, that we can continue to provide a secure long-term work environment for our staff and a quality service to our clients.”
LMW’s team, including appointed digital forensic advisors and privacy consultants, have been working closely with the Cybercrime Squad since the incident occurred.
 Investigations have revealed that the breach was carried out by an individual external to LMW with trusted inside access
Landmark White, who estimated that the breaches <a href="/news/landmark-white-data-breach-to-cost-over-7-million">cost the company over $7 million</a>, have since <a href="/news/landmark-white-get-anz-back-on-board-after-data-breaches">got ANZ back on board</a> as they try and rebuild. 
The company has undertaken a significant investment in IT security and other system enhancements, engaging external network security experts.
“The enhancements to our network security allow us to demonstrate via third-party audit that our IT systems represent a best-practice, secure platform," Rabbitt says.
"In driving these ongoing enhancements, our goal is always to provide services to our clients in an efficient, cost-effective and secure manner,” 
Rabbitt said the incident had caused significant disruption to its business and caused a great deal of stress and angst to our staff, but that the events of this year had made the firm stronger.
“A number of financial institutions with whom we’ve had long-term relationships have reinstated LMW to the panels of valuation providers, which is fantastic.
"We are also extremely grateful to our 300 loyal staff, who have continued to work with us to put our clients first,” Rabbitt said. 
“We have been a trusted member of the industry for over 40 years, and we look forward to putting this incident behind us and getting back to work with all our clients and partners across Australia.”
 
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jrobinson-rf4aSBido9

NSW Police make arrest of alleged Landmark White dark web cyber hacker

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The property valuation platform Landmark White are making steps to get back on track after two data breaches earlier in the year.
They were dropped by all of the big four banks after a <a href="/news/landmark-white-limited-reports-property-valuations-data-breach">cyber security breach in February.</a> There was a <a href="/news/landmark-white-reports-more-private-valuation-files-posted-online">later breach in May.</a>
They have managed to get ANZ back as a client, according to the Australian Financial Review, however Westpac, NAB and CBA are yet to sign back up.
John Wise, chief financial officer of LMW, told the AFR they anticipate their reinstatement in of the company in the near future.
In their full year statutory accounts submitted to the ASX, LMW advised revenues were hit between $6 million to $7 million, with an after tax loss of $15.1 million for the year to June.
They advise their $5.44 million capital raising "will enable the business to restructure its operations in line with an anticipated lower ongoing revenue base following the data disclosure incidents.
"This will enable the business to return to profitability and positive cashflows," LMW stated.
LMW returned to the ASX in August with <a href="/news/landmark-white-shares-fall-to-9-cents-on-return-to-asx">shares plummeting to 9¢</a>.
Early morning trading has been at 12¢ a share. 
Timothy Rabbit, who has been the acting chief executive since March <a href="/news/landmark-white-chief-chris-coonan-quits-following-dark-web-data-security-breach">when Chris Coonan stepped down</a>, has been announced as the permanent CEO.
Rabbit joined LMW in late 2018 following the acquisition of Taylor Byrne, a leading regional property valuation firm with 26 offices across Queensland and New South Wales.
"The progress of the company since Timothy's appointment as acting CEO is a testament to his ability to developer a cohesive group across LMW's business units," company chairman Keith Perrett said.
 
 
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Landmark White get ANZ back on board after data breaches

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Landmark White's second suspension from the valuation panels of major lenders was having "a major impact on the business and its viability", acting chief executive Tim Rabbitt told staff last week in a leaked email.
The troubled valuation firm, hit by two unauthorised valuation data leaks on the web, told staff it is considering a sale of "the whole or parts" of the business.
It acknowledged reinstatement by its major lenders was not likely "immediately." Nor any quick reinstatement onto the ASX.
It added that having used up a significant portion of its cash reserve during its first suspension period in January, the current second suspension which began in early June was having "a major impact on the business and its viability."
The <a href="/news/landmark-white-see-westpac-return-after-dark-web-data-privacy-breach">initial breach</a> cost up to $7 million.
"Without an immediate reinstatement from our clients, the business is likely to be in trouble in the very near term," Mr Rabbitt said in the email seen and quoted by the Australian Financial Review Weekend issue.
"The company is still working on reinstatement, but the directors (as is their responsibility to do now) have to consider alternative options for the business including the potential sale of the whole or parts of the business."
Landmark White has been unable to convince its lenders, which include three of the country's largest banks (with the exception of Westpac) to turn work back on in the wake of a second theft of information.
The saboteur posted a range of documents posted to file-sharing site SCRIBD.
LMW warned lenders that the cutting off lines of work posed a threat to the viability of the valuation industry as a whole which earned a rebuke from its own industry body.
Landmark White chairman Keith Perrett on Friday said he was proud of his staff for the commitment they had shown the company in the wake of the second information theft.
"Our management team is working closely with staff to ensure they are informed and supported as we work through the challenges the business currently faces," he said.
"We're communicating with our employees on the state of the business every day, and will not apologise for being open and transparent about the incident and impact on our business."
"LMW has been a successful business for almost 40 years, one that employs more than 450 people across Australia including in regional and remote areas," he said.
I<a href="/news/landmark-white-reports-more-private-valuation-files-posted-online">t maintained the latest data breach</a> did not constitute a notifiable breach under law as only limited private information was contained in the documents posted onto document sharing site SCRIBD.
Earlier this month Landmark White had previously disclosed CBA and ANZ were among a "small number of clients" who had dropped LMW from their valuation panels.
 
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j.ballantyne1990-6AQqhLzZaK

Landmark White's viability in doubt after second saboteur valuation leak

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Property valuation and consultancy firm LandMark White have said revealed the data breach from their servers in February will cost the company up to $7 million.
The first sales of shares when re-opened on the ASX this morning were trading at 20¢. At late morning they were trading at 25¢, a 34% drop since its last trade in March when trading was halted.
In a notice to their shareholders submitted to the ASX, LandMark estimated a loss of revenue of around $5 million to $6 million.
They also cited further losses of around $1 million of revenue likely to be lost between now and the date of full reinstatement by the remaining financial institutions and restoration of more normal revenues.
NAB, Commonwealth Bank and ANZ <a href="/news/banks-drop-landmark-white-valuations-after-data-breach">all dropped LMW</a> following the breach which saw around 250,000 individual records and 137,500 unique valuation records stolen and <a href="/news/landmark-white-valuation-data-available-on-dark-web-forum-after-data-breach">put on the dark web</a>. 
LandMark White are set to post a net loss after tax of $2.3 million in the year to June.
<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/2019/5/LMW-Chart.jpg" alt="">
LMW's shareholders are set to take the brunt of the hit.
"In order to enable LMW to rebuild its cash reserves, the Broad of LMW do not expect to declare a dividend for FY2019", the submission to the ASX read.
"The Company will be reviewing its position for the re-commencement of dividends at the appropriate time.
Both <a href="/news/landmark-white-valuation-data-available-on-dark-web-forum-after-data-breach">Westpac</a> and <a href="/news/commbank-resumes-landmark-white-valuations">Commonwealth Bank</a> have resumed their services with LMW.
"LMW has secured further support from its corporate bankers to enable the company to trade through its monthly receipt and payment cycles whilst its cash reserves build."
 The Board predict a return to normal levels in FY2020, should LMW be reinstated to all key former clients.
 
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LandMark White data breach to cost over $7 million

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The Australian Property Institute (API) is rallying to support the property industry in the wake of recent cyber attacks on Australian organisations.
The announcement comes after property valuation firm Landmark White (LMW) saw data sets stolen and listed <a href="/news/landmark-white-valuation-data-available-on-dark-web-forum-after-data-breach">on the dark web</a>.
The Landmark White case saw its boss, Chris Coonan, <a href="/news/landmark-white-chief-chris-coonan-quits-following-dark-web-data-security-breach">step down from his role</a>.
Amelia Hodge, CEO of API, said any enterprise can be caught by cyber crime.
“Cyber attacks are criminal acts, and recent cybercrime by unknown perpetrators on a range of Australian private and public sector entities demonstrate that any enterprise of any size can fall victim," Hodge said.
“Our concern is obviously for our members and the clients impacted by these criminal acts. 
"We are here to fully support those impacted in any way we can. We have just under 400 API families directly impacted by the suspensions and it is important to move to a business as usual state as quickly as possible.” LMW is not alone. In February, the Federal Government announced that the Australian Parliament and political parties had also been subject to cyber attacks. 
Hodge said that in the case of LMW, the company has reported that the personal information disclosed ranges from relatively benign and publicly available, to, in a small number of cases, more detailed category identification information.
“We are further informed that the breach was isolated, that it has been fully investigated by the relevant authorities and there is no evidence of misuse of any of that personal information,” Hodge said. LMW have been working with independent cyber security consultants, along with the Australian Cyber Security Centre (ACSC) and the Office of the Australian Information Commissioner, to ensure client information and LMW’s network is secure.  “Cyber attacks represent just one of the risks businesses face simply because they are in business,” Hodge said.
“Because they are criminal acts, no business is immune. While it is not possible for enterprises to completely remove all cybercrime risk, it is possible to prepare for the possibility, mitigate the risk, contain and remediate any damage following a cyber attack and, in the interests of all, be able to return to business-as-usual as soon as the risk is satisfactorily resolved.”
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jonathanchancellor-7SQnKwU6yx

Australian Property Institute rallies to support industry in wake of cybercrime

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Chris Coonan, the chief executive of Landmark White, has resigned from his post following the cyber security breach that saw thousands of records posted on the darkweb.
Coonan had spent over 14 years at the embattled property services company, who have <a href="/news/banks-drop-landmark-white-valuations-after-data-breach">lost a string of major clients</a> including CBA, NAB and ANZ since a dataset containing property valuation and personal contact information <a href="/news/landmark-white-limited-reports-property-valuations-data-breach">stolen last month</a>.
He was named CEO in 2016, having previously been the national director for residential valuations.
Landmark White have been under fire from all angles since the dataset was <a href="/news/landmark-white-valuation-data-available-on-dark-web-forum-after-data-breach">listed on the dark web</a> in February.
"We can now share that on 30 December 2018, we received a message through the 'Live Chat' messaging service on our website, providing us with a link to the dark web," the company advised at the time.
"An unknown criminal has maliciously accessed a LandMark White’s system."
"We do not know the identity of the individual," it added.
Its investigations reveal that the dataset contained:
<ul>
<li>approximately 137,500 unique valuation records, and approximately 1,680 supporting documents.</li>
<li>approximately 250,000 individual records in total but a lot of records are duplicates.</li>
<li>The date of the documents range between approximately 4 January 2011 and 20 January 2019. </li>
</ul>
The board has also announced that co-founder of LMW, Glen White, and Frank Hardiman will stand down as a Non-Executive Directors of the company.
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Glen established the Queensland practice that became Landmark White in 1982 and served as a Non-Executive Chairman between December 2015 and May 2018.
Frank was the Chief Financial Officer and Company Secretary of LMW between 2011 and 2016, before being appointed a Non-Executive Director of the company.
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The board acknowledged Chris’ tireless efforts in his role, but agreed that the changing nature of the business and market conditions – combined with major reputational challenges caused by the recent cyber-attack – had changed the requirements for the executive leadership of LMW.
In the interim, it announced the appointment of Timothy Rabbitt as Acting Chief Executive Officer of LMW.
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In October 2018, LMW announced a merger with Taylor Byrne to further cement LMW's position as the largest, locally owned ASX-listed valuation property services business.
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Founded in 1982 and listed on the Australian Stock Exchange in 2003, LMW has over 400 staff.
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Landmark White chief Chris Coonan quits following dark web data security breach

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EXPERT OBSERVER
Why is the manufacturing industry a target for cyber criminals?
In two words, money and information. Most cybercriminals want cold, hard cash or access to trade secrets.
In its <a href="https://www.verizonenterprise.com/verizon-insights-lab/dbir/" target="_blank">2018 Data Breach Investigations Report</a>, global telecommunications and technology company Verizon reveals that financial motives are behind just over half of all data breaches in the manufacturing sector, while espionage makes up most of the other incidents as spies seek to gain confidential information from companies.
The findings show what the cyber crooks are after, with personal information (32 per cent), company secrets (30 per cent) and credentials (24 per cent) topping the list. With the latter, stolen credentials can be used to ramp up cyberattacks and access other data types.
Chris Tappin, Principal Consultant at the Investigative Response team for the Verizon Threat Research Advisory Centre, points out that first-mover advantage is crucial in the manufacturing sector, so cyber criminals are hell-bent on trying to pinch companies’ best ideas. “If they can obtain trade secrets, such as plans and R&amp;D information, and then use these to bring an idea to market first, they can potentially make big financial wins,” he says.
Whereas organised crime gangs are responsible for most attacks on retailers, accommodation, food services groups and financial services companies, state-sponsored hackers carry out the greatest percentage of manufacturing attacks. These rogue governments want intellectual property as a means to score trade success and often see manufacturers as an easy target because old IT systems are difficult to update and protect. Better still, they know that many manufacturers’ supply chains are large and exposed, giving them an opportunity to infect many suppliers and businesses at the same time.
What are some high-profile examples of attacks on manufacturers?
One of the best known is the attack on networks of defence contractor Lockheed Martin, and the world’s largest aerospace manufacturer Boeing, in a series of strategic data breaches on top-secret plans and information around a decade ago.
Authorities were stunned at the scale of the espionage in which hackers accessed designs and data on the F-35 Lightning II joint strike fighter jet, the B-2 stealth bomber, the F-22 jet, space-based lasers, missile navigation and tracking systems, and more.
Following the FBI’s 2014 arrest, and the subsequent jailing, of a businessman reportedly working with the Chinese military, the hackers’ modus operandi was revealed to involve phishing emails to employees at the target companies and installing malware on their systems which allowed remote access to directories containing the trade secrets, along with other sections of the companies’ networks.
How do cyber criminals typically target manufacturing companies?
Traditionally, it’s via phishing campaigns to gain unauthorised access to systems and data, tricking executives and employees into revealing login credentials and other private information. Networks, as a result, become highly exposed.
“The initial vector of intrusion is often not that sophisticated,” says Simon Ezard, a Senior Security Consultant at the Verizon Threat Research Advisory Center. “Unsophisticated cases involve attackers sending phishing emails, sometimes to thousands of people and in the hopes that a percentage of those will fall victim.”
Verizon’s research indicates that in most cases manufacturers can expect the cyberattacks to come from outside the business. In about nine out of 10 data breaches, external players are to blame, with employees responsible for just a small percentage of incidents.
What action should manufacturers take to limit threats?
With crucial company data, trade secrets and business reputations at stake, it is incumbent on manufacturing leaders and innovators to protect their intellectual property.
There are some basic means to combat cyber criminals, including being vigilant, educating employees about the dangers of phishing scams, keeping anti-virus software and patching up to date, encrypting data and using multi-factor authentication to limit the chances of attacks.
According to Verizon, manufacturers should also be taking three overarching actions to mitigate risks:
<ol>
<li>Separate highly sensitive and secret data from the rest of their networks, and restrict access to only those individuals who absolutely require it to do their jobs.2.</li>
<li>Implement data-loss-prevention controls to identify and block transfers of data by employees, and especially those who are terminated or resigning.</li>
<li>Ensure that employees quickly report phishing attacks so they can be better understood and combatted.</li>
</ol>
“Make people your first line of defence,” Ezard says. “Give your employees cybersecurity and social engineering training. Help them learn how to spot a phishing email and empower them to speak up to their IT department if they become suspicious.”
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How can manufacturers beat cybercrime?

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GUEST OBSERVATION
A warning about a “new” international scam targeting Chinese students in Australia <a href="https://www.afp.gov.au/news-media/media-releases/scam-warning-fake-%E2%80%98virtual-kidnapping%E2%80%99-scam-targets-chinese-australians" target="_blank">was issued by the Australian Federal Police</a> on May 14, 2018.
In a typical scenario, students are contacted by someone pretending to be from the Chinese Embassy or Consulate telling them that they have been implicated in a serious crime in China or Taiwan, and asking them to collaborate with investigations.
The target is told to hide themselves for a few days and cut off all contact, including with family members in China or Taiwan. The families then receive calls telling them their child studying in Australia has been kidnapped, and a ransom demand is made.
International scams of this nature are hard to investigate, but there are things you can do to avoid falling victim to them.
The evolution of a scam
Chinese and Taiwanese people have been victims of telecommunication scams like this for decades.
Crime syndicates would provide notes to their members, teaching them how to mask their caller IDs and what to say. The criminals usually collect personal information such as the student’s name, birthday, university attended and where they are originally from. This information, though basic, is essential to build trust with the victims.
The scam starts in Taiwan
The first generation of the kidnapping scam started in Taiwan in the late 1990s.
Organised crime syndicates would call parents and tell them that their child had been kidnapped and demand a ransom. During the call there would be sounds in the background of someone crying and screaming, saying “Help me, Mum/Dad!” Sometimes they might have the name of name of the child and, occasionally, will have researched the background of the family. Lots of Taiwanese were caught in the scam and paid the ransom.
Since the sim cards in use at the time were usually pre-paid cards, and the mobile phones usually cloned, criminal investigation was difficult. This pushed Taiwanese Government to tighten the rules on purchasing pre-paid cards.
And then moves to China
Before too long organised crime syndicates with members from both Taiwan and China started to use this method to scam people in China.
Criminals set up their crime base on Kinmen Island (an island belonging to Taiwan located close to the Chinese mainland). From there they could connect to the signals provided by a Chinese service provider and scam people in China. Conversely, crime bases were set up in Xiamen, the China territory opposite Kinmen, using signals provided by Taiwanese service providers to conduct scams on Taiwanese people.
In both situations they could avoid being arrested as there was limited collaboration between Taiwan and China on criminal investigations. Collaboration between the two jurisdictions only began when the Chinese government realised the seriousness of the scam.
The scam comes to Australia
With the commencement of cooperation between Taiwan and China against the telecommunication scam, a number of cases were successfully cleared and suspects were repatriated between Taiwan and China for prosecution. To minimise the risk of prosecution, organised crime syndicates then moved to their operations to Eastern Europe, East Africa or Southeast Asia (including Australia, Cambodia, Indonesia, Kenya, Thailand and the Philippines) in the past few years.
Moving the call centre to a third country not only made it more difficult to investigate the crime, it also made a successful prosecution more difficult.
Old scam, new tech
What is innovative in the recent scam compared with the earlier ones is that they have chosen to target international students from China and Taiwan who are away from their family. International students are more likely to be a successful target since it’s harder for parents based overseas to check whether the event is real.
With the advance of technology, people are now putting more information online. At the same time, student data is a popular target for hackers and a hot product on the online black market. Criminals are able to target parents, build trust with them and persuade them the scam is real using the detailed information they have about the family and the “kidnapped” child.
In the reported cases, the students followed the instructions of the criminal syndicates and hid themselves. When concerned parents cannot get in touch with their child, they tend to believe the scam is real and pay the ransom.
Criminal investigation is difficult
The transnational character of the crime has made investigation difficult. The victims – students and parents – are in different countries and, to make progress on an investigation, the Australian authorities need cooperation with Taiwanese or Chinese authorities. As the victims are not resident in the country where the syndicate is based and from where the scam is conducted, the police in the third country are usually reluctant to collaborate.
Furthermore, members of the crime syndicates are highly mobile and it is often too late to secure evidence and arrest criminals by the time the police in Australia have received and actioned a request for investigation assistance. Or it might turn out that the call centre is not in Australia but in a third country.
What students and families can do
With scams like this it is important to encourage reporting to the police and to raise public awareness. In this case, the Australian Federal Police, and the Chinese Embassy and the Taiwan Cultural and Economic Office in Canberra have all issued an alert to students about the scam.
Students and parents should have diverse ways of making contact with each other. For example, students could share with their parents the contact information of their close friends so that the parents have another way to contact their children. They also should have a special way or code to indicate to each other when they really are in danger.
<img src="https://counter.theconversation.com/content/96910/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Finally, everyone should be vigilant about securing personal data. This includes: schools securing their systems to avoid leaks of student information; students being careful not to put too much personal information online; and all parties being alert when adding new friends on social media.
Lennon Y.C. Chang, Senior Lecturer in Criminology, Monash University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/new-virtual-kidnapping-scam-targeting-chinese-students-makes-use-of-data-shared-online-96910" target="_blank">original article</a>.
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New 'virtual kidnapping' scam targeting international Chinese students makes use of data shared online

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Outwitting hackers with sophisticated software makes for the stuff of spy novels. But in the real world, simple physical security measures also have a huge role to play to keep critical data in the right hands.
That’s not to dismiss the need for some technical wizardry in the digital age. Cyber-attacks have increased in both frequency and intensity in recent years, with the average cost of a data breach up 23 percent since 2013.
Experts say, however, that many of these breaches could be prevented, with good old fashioned physical security. After all, an unauthorized visitor, a contractor or less-than-loyal employee is much better positioned to steal sensitive information than a high-tech hacker a thousand miles away. And a lot simpler to stop.
“With the focus on anti-virus software, access controls and other forms of automated information security protection, it’s tempting to be lax about physical measures,” says Bill Todd, senior facility manager, JLL. “Yet, a few smart moves can go a long way toward fending off harm to an organization. It’s important to fight cybercrime both in the virtual world—and in the actual facilities where the information is stored or accessed.”
Buildings designed to be secure
One strategy is to design the workplace with security in mind. Separating the reception or elevator lobby from workspace, for example, limits access to areas containing sensitive data.
“For multi-floor corporate tenants in large office buildings, keeping a locked door between the elevator lobby and the workplace has become a standard practice,” says Todd. “Where possible, it’s also smart to keep high-visitation areas, such as conference rooms, on a separate floor from access points to highly sensitive data.”
Data centers and telecom closets should also be subject to video security; highly sophisticated cameras are more affordable than in the past, and can serve two valuable functions. First, their very presence will deter would-be wrongdoers who prefer an easier target. Second, cameras allow for a forensic review if incidents do occur and make it easier to catch the culprit.
Controlling access to restricted areas is a must. State-of-the-art security measures such as smart cards, tokens, or biometric scans which record the identity of each person who enters not only keep outsiders outside, but also prevent access by employees who have no business being in areas containing sensitive data. For extra security, encrypted security badges are preferable to simpler electronic badges that can be stolen during an elevator ride or standing in line for coffee.
Managing facilities to maximize security
Even sophisticated safeguards to keep intruders out are not the be-all and end-all of the physical protection of an organization’s sensitive data. That’s mainly because such systems often can’t keep a determined insider from stealing a hard drive or a password written on a sticky note attached to a computer.
“Given the number of passwords we all use each day, it’s no wonder that it is a common practice for employees to keep them visible and near the equipment they use,” says Todd. “Facility managers can help enforce a clean-desk policy that not only keeps passwords secure, but also helps prevent theft of sensitive printed information left out in the open.”
Todd suggests that even the most sophisticated organizations may overlook these simple, low-cost measures—that facility managers are uniquely positioned to make happen:
<ul>
<li>
Don’t leave computers unattended in unsecured areas. An unauthorized intruder can use any computer connected to a network to access information. Vulnerable computers include workstations in the reception area, at unoccupied desks or in empty offices. Equip computers that must remain in the open with technology like smart cards or biometric readers to limit access.</li>
<li>
Disconnect or remove computers that aren’t being used. Even in secured areas, an unused computer can present a risk. When an employee is out on vacation or out sick, their desktop computer should be secured. If the computer is in an office, lock the door.</li>
<li>
Use case locks to prevent hard drive theft. Some of the most highly publicized data breaches have resulted from hard drive theft or theft of an entire computer. A related step: disable USB drives and optical drives to prevent unauthorized downloads.</li>
<li>
Keep printer areas clean. Many offices have a shared printing and copy room, where busy employees may inadvertently expose sensitive information in unneeded print-outs. Again, facility managers can reduce risk by enforcing proper disposal of documents.</li>
</ul>
The sharpest criminals have an eye for physical weaknesses in a workplace. Building in security measures and controlling employee habits around data security can help an organization stay in control of who sees sensitive information.
This article appeared in <a href="https://www.jllrealviews.com" target="_blank">JLL Real Views</a>
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