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

Fairfax

<html><body>
Legal proceedings aimed at preventing a merger between Fairfax Media and Nine Entertainment have fallen short in the Federal Court.
Former Domain chief executive Antony Catalano had <a href="/news/antony-catalano-eyes-domain-return">launched the challenge</a> after Fairfax shareholders voted for the merger last week. 
Catalano argued Fairfax shareholders had not been given the opportunity to consider his proposal which included acquiring 20 per cent of the company’s shares.
Justice Jacqueline Gleeson approved the Nine-Fairfax scheme of arrangement after the ACCC gave it the green light earlier in the month. 
“I believed and continue to believe that at current share prices Fairfax shareholders were entitled to a better deal,” Catalano told The Australian.
“I have put my arguments to the court but I have not been successful. I respect the court’s decision and am unlikely to appeal, but I will reserve my rights until my legal team has had a chance to review Her Honour’s written decision.”
In his 11-page affidavit to the court yesterday, Catalano further outlined his alternative proposal to "deliver better value for Fairfax shareholders”.
Mr Catalano had voiced his opposition to the Nine merger by sending a letter to Fairfax chairman Nick Falloon on the eve of the Fairfax shareholder merger vote.
In the vote, 81.49 per cent of Fairfax shareholders backed the deal.
Catalano’s lawyer sought an adjournment to get a second independent report prepared, which was <a href="/news/antony-catalano-fails-in-his-air-headed-domain-return">rejected by Justice Gleeson</a>.
The group will own nearly 60 per cent stake in online property listing group Domain.
Fairfax shares will cease trading on the ASX at the close of trade tomorrow.
 
 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Catalano's Federal Court foray fails to stop Fairfax-Nine merger

<html><body>
The now not so hip activist investor Nick Bolton has emerged as a backer of Antony Catalano’s 11th-hour plan to derail the Fairfax-Nine merger.
The former Domain CEO has confirmed he will mount a court challenge to the merger between Fairfax Media and Nine Entertainment.
Catalano says he has a superior proposal to the Fairfax-Nine merger, which was given shareholder approval last week.
He will ask the Federal Court to reject or defer the deal as he has support from shareholders.
"I have heard from a number of shareholders that would like to consider an alternative proposal," Catalano says.
Catalano says his court submission would outline a "range of concerns" with the Fairfax-Nine merger.
Controversial greenmailer Nick Bolton's investment vehicle Aurora Funds Management was set to appear before Judge Jacqueline Gleeson.
On the evening before the shareholder vote last Monday week, Catalano launched a dramatic eleventh hour bid to stall the merger by revealing he had a plan to implement a range of asset sales to deliver value to shareholders.
Catalano sent a letter to the Fairfax board at 8pm Sunday, with the board meeting to reject the proposal ahead of the 10am Monday shareholders' meeting.
The Fairfax board rejected the approach and proceeded with the long-scheduled vote of the merger.
Nine and Fairfax sources expect Catalano's court action to be unsuccessful.
And Herald Sun columnist Terry McCrann wrote Catalano was "not the 2018 version of the 1980s corporate raider and master manipulator Robert Holmes a Court. Not even close.'
"If Holmes a Court had pulled a stunt like the one you tried on Fairfax Media on Sunday night, it would have been an elegant combination of real financial substance, loaded with menace, and actually committing him to nothing."
"To call it an inept and rather embarrassing joke would be to give it more credibility than it deserved," McCrann wrote.
</body></html>

Antony Catalano’s 11th-hour plan to derail the Fairfax-Nine merger hits Federal Court

<html><body>
The former Domain chief executive Antony Catalano failed in his eleventh-hour, air headed attempt to block Nine’s bid for Fairfax Media.
Some 81 percent of the Fairfax shareholders voted for the merger.
There was no appearance by the Melbourne-based former chief executive at the Sydney meeting Monday morning.
There was just one question from the floor as to whether the chairman Nick Falloon had given consideration to the request to postpone the vote to give greater consideration to Catalano's Sunday night missive.
The 81 percent vote included the use of some 16 percent open proxy votes which were voted in favour of the merger by the chairman.
Catalano had <a href="/news/antony-catalano-eyes-domain-return">indicated he would buy up to 19.9 per cent of Fairfax</a> to then implement a Domain-led turnaround strategy for the ailing media group from a board seat.
Fairfax shareholders voted to push ahead with the $4 billion merger, which would mark the end of the 177-year-old publisher as a stand-alone company. 
The Fairfax board met early Monday and unanimously urged a vote for the merger.
The merger needed 75 percent of total votes cast, so Catalano may have succeeded with more time.
Overnight Catalano hit out at the Fairfax Nine merge plan, saying the current proposal did not apply a sufficient premium for control of Fairfax’s majority-owned digital real estate arm, Domain.
He said $740 million in value in the share takeover had been lost since the planned merger was announced in July.
Catalano's friend, the billionaire investor Alex Waislitz said he planned to vote his Fairfax shares against the merger. 
Share market activist Stephen Mayne tweeted the 11.4 percent of voted shares and 18.51 percent of voting shareholders was "more resistance than usual" in these scheme merger deals.
The combination of Nine and Fairfax's publishing assets will create a business with around $500 million in revenue.
Over the weekend a prominent member of the Fairfax family, John B Fairfax attacked the Nine takeover of Fairfax, saying the Fairfax newspaper company and name has more credibility than the commercial network associated with media moguls Kerry Packer and Alan Bond.
Last week the former prime minister Paul Keating said the ACCC’s approval of the Nine-Fairfax merger was a "truly appalling decision."
Catalano has flagged he could challenge the merger deal in court next week, Fairfax Media has reported.
</body></html>

jchancellor-FAypfDUnLy

Antony Catalano fails in his air headed Domain return

<html><body>
The former Domain chief executive Antony Catalano has launched an eleventh-hour attempt to block Nine’s bid for Fairfax Media, indicating he would buy up to 19.9 per cent of Fairfax to then implement a Domain-led turnaround strategy for the ailing media group from a board seat.
Fairfax shareholders meet today to vote on whether to push ahead with the $4 billion merger, which would mark the end of the 177-year-old publisher as a stand-alone company. 
The Fairfax board met early Monday and unanimously urged a vote for the merger.
The merger needs 75 percent of total votes cast.
Catalano hit out at the Fairfax plan, saying the current proposal did not apply a sufficient premium for control of Fairfax’s majority-owned digital real estate arm, Domain.
He said $740 million in value in the share takeover had been lost since the planned merger was announced in July.
Catalano's friend, the billionaire investor Alex Waislitz has said he planned to vote his Fairfax shares against the merger. 
“I’m not going to back the merger ... even though I can see there is some structural and ­strategic benefits to having the wider platform for products to be sold across, and also there are a lot of synergy benefits to it,” he told The Australian.
Mr Waislitz’s listed fund Thorney Opportunities and private fund Thorney Investment Group combined own more than 50 million Fairfax shares., about two per cent of the company.
“(Nine’s) Hugh Marks and the team there have done a good a job at Nine. However, I do think they have been clever at buying Fairfax at a very good price and with the recent fall in the share price Fairfax shareholders are missing out on a lot of value with the scheme going ahead,” he said.
The merged Fairfax will consist of Nine’s free-to-air television network, home to reality shows such as Married At First Sight and The Block, and digital business 9Now, plus Fairfax’s Australian and New Zealand mastheads, including the The Sydney Morning Herald, The Age and The Australian Financial Review. 
In a letter sent to Fairfax Media chairman Nick Falloon last night, and obtained by The Australian, Catalano proposed acquiring an interest of up to 19.9 per cent in Fairfax Media “at a price superior to the intrinsic market-to-market value of (Nine’s proposal) of up to 65c per share”.
Shares in Fairfax closed on Friday at 61.6c.
“As the former CEO of ­Domain, I have a unique knowledge of that business, and accordingly believe that I could provide significant assistance in optimising its value for Fairfax shareholders, along with providing a strategy for the balance of Fairfax’s valuable assets,” Mr Catalano said.
He asked Mr Falloon to ­adjourn the shareholder meeting for at least two weeks to allow shareholders and the Fairfax board to properly consider his ­alternative proposal. 
“Through my inquiries, I understand that the general sentiment of Fairfax major shareholders is that the merger scheme (at current prices) is a disappointing outcome and that an alternative outcome is an option that could find considerable support that could see Fairfax shareholders achieve full value for their holding,” he said.
“I intend to then have Fairfax pursue a multi-pronged strategy to build and realise value for Fairfax shareholders. This strategy ­includes the divestiture of non-core assets, building the Domain franchises and pursuing asset sales with a suitable control premium not presently factored into the (Nine) scheme, with all proceeds to be returned to Fairfax shareholders as cash distributions or by way of share buybacks.’’ 
The former property reporter Catalano spent more than four years at the helm of Domain, but just two months fronting the publicly listed Domain company, quitting the digital real estate group in January.
Nine Entertainment has left the door open to sweeping up minority stakes in Domain after any merger with Fairfax Media.
 
 
 
</body></html>

Antony Catalano eyes Domain return

<html><body>
The tech billionaire Mike Cannon-Brookes and his wife Annie Todd have bought Australia’s most expensive house, the harbourfront jewel, Fairwater at Double Bay.
The sale, possibly for close to $100 million, and likely to be in cash, ends more than a century of Fairfax family ownership on Seven Shillings Beach.
Despite the end of the boom, their purchase highlights the enduring popularity of premium harbourfront property, as old money passes the baton to new money.
It took just three weeks for the 1.12 hectare estate to sell, although there had been expectations of its listings since the death of Lady (Mary) Fairfax last September.
The current Sydney time on market has edged up this year to be taking 37 days to find buyers, among the 28,000 current offerings available for sale, according to CoreLogic.
Property developer Richard Sheinberg had been among those who'd been through.
“We are delighted with the purchase of Fairwater for our young family and look forward to continuing the legacy of this beautiful Sydney home,” Cannon-Brookes said. 
“We love the idea of raising our four young children in this historic property, filling the house and gardens with love and laughter through the years," the Cannon-Brookes said.
The price has not been revealed since its sale on Wednesday night, but it had been expected to fetch somewhere between the $71 million paid right next door and close to $100 million.
The sale coincided with a visit to Sydney from the United States by Cannon-Brookes who spends much of his time in San Francisco near Atlassian's US HQ.
The billionaire was always tipped to be its likely buyer, and not just because estate agents pinpointed his Kalamazoo, American-born wife as keen to secure an Australian trophy home.
His Atlassian business partner Scott Farquhar paid $71 million without any mortgage next-door for another Fairfax family home, Elaine which took three years to sell.
There was no formal website marketing for the home that dates back to 1881, but interested parties were being taken through the landmark home by Christie's International agent Ken Jacobs.
“Elaine and Fairwater are the golden girls of Sydney Harbour,” selling agent Ken Jacobs said earlier this month.
"To get over 11,000 square metre of land on Sydney Harbour is just unheard of, and it will be impossible to repreat that," Jacobs said.
"You'd have top buy 11 standard Point Piper sites to get to this size, so it's really just a one off.
"Internationally, to get a property as revered as this within five kilometers from the CBD and this landsize, and on a harbour, is just unheard of.
"It's very extraordinary for a property like this to still exist."
Almost like Cannon-Brookes and Farquhar's business exploits, Jacobs suggested Fairwater and Elaine complement each other.
"They add value to each other because you've basically got Australia's two best properties together. And they're both about to be revived to their former glory."
"They're both legacy properties," Jacobs said, adding that they're not on the radar of properties that continually turn over.
"They're ones that have just been there and maintain quite an amount of mystique.
"It was wonderful when Elaine came to the market, but with Fairwater, it takes it to another level because of the land size.
"It's an acre larger than Elaine and the grounds are just extraordinary.
"It may not come for another hundred years or more."
The Atlassian co-founders' wealth is pegged at a combined $6 billion after Atlassian was founded in 2002 using $10,000 in credit card debt.
The Atlassian co-founder Mike Cannon-Brookes was always on Jacob's radar as a prospective buyer.
He recently sold his Braelin, his Centennial Park trophy, for $16.5 million, and has looked at several trophy homes to purchase.
Last year the family even stayed at Barford in Bellevue Hill to test whether they liked it there on the hillside location.
The Cannon-Brookes had already spent a combined $16 million on two non-waterfront Double Bay houses. The acquisitive couple have spent more than $45 million worth of homes in the past six years including a second Southern Highlands weekender.
The Double Bay offering by the executors of the late LadyFairfax had been in the Fairfax media dynasty family since 1901 when Sir James Oswald Fairfax paid £5,350.
The two-storey, late Victorian mansion - which was designed by architect J. Horbury Hunt for stockbroker, Francis Joseph in 1881, is set on five sub-dividable blocks on exclusive Seven Shillings Beach. 
Elaine is a 6,900 square metre land holding, with Fairwater ranked as the largest privately-owned harbour side landholding, spanning 11,210 square metres.
"It is remarkable that an estate offering such rare and unrepeatable features still exists in Australia today; this opportunity will not come again," Jacobs said.
"It's not what you expect to find in Sydney.
"It's what you expect to find in Newport, Rhode Island for example, because of the grandness of the estate."
Coming without Opera House views, and just the top of the Bridge, the property was always likely to sell to locals rather than Chinese buyers who seek the postcard aspect. 
The top 10 sales across Australia include four sales in Point Piper, three in Vaucluse, one in Melbourne's Malvern and a Mosman Park compound in Perth, which when sold for $57.5 million in 2009, held the national price record.
There had only been one prior listing through to had the potential of securing $100 million, just around the corner.
It was in 2016 when Aussie John Symond listed his Point Piper trophy home with unconfirmed $100 million plus expectations.
His modern four level harbourfront home, set on 2685 square metres, was so vast, and then without vegetation, that it was nicknamed 'Aussie Stadium'.
The state government will secure $6.94 million stamp duty on the touted $100 million sale, and $14.9 million if the Cannon-Brookes are considered based overseas and subject to foreign buyer duty.
Lady Fairfax briefly contemplated gifting her mansion to the people of NSW. 
In 1996 Lady Fairfax announced a trust of seven was being established to oversee the estate. 
Lady Fairfax, who later declined to comment on her intended gift, moved into Fairwater with her husband, Sir Warwick in 1969.
During her decades the Fairwater grounds had been regularly opened for charitable fundraising occasions, including the East West Foundation, the Australia Ireland Fund, the Opera Foundation Australia (founded by Lady Fairfax) and the Cochlear Implant Centre, Sydney. 
At one dark stage in the Fairfax annuls, the mother of fallen media boss Warwick Fairfax, suggested after he lost the newspaper empire, that she might have had to sell part of the grounds to pay the land tax and its upkeep.
"Fairwater is safe but what is Fairwater without the garden, it's just another big old house," she said amid the 1990 company stockmarket turmoil.
</body></html>

Fairfax's Fairwater sale reflects baton change from old media to new tech

<html><body>
The billionaire Melbourne investor Alex Waislitz says many shareholders in real estate website company Domain want the recently departed Antony Catalano back as its chief executive.
He said he was disappointed Catalano, who resigned unexpectedly last month, was not still its boss, adding his confidence in the overall leadership of Fairfax and Domain has been "dented".
He also suggested Nick Falloon should not be chairman of both Fairfax and Domain.
Waislitz offered himself to mediate some sort of rapprochement between Catalano and Fairfax management.
<div class="cq-article-content-media section">"Many of the investors I have spoken to, in light of the limited amount of information that has been made available publicly about [Mr Catalano's] behaviour, would say they would be happy to have him back," Mr Waislitz told The Australian Financial Review.
</div>
"I think Catalano has proven himself to be the best person to run the business at this point in time. I don't know who the candidates are that they are interviewing. Could he come back? I'm not sure. 
<div class="cq-article-content-paras section">
"Would he come back? I'm not sure."
<div id="article-inline-ad" class="adWrapper">The activist investor via his private investment group Thorney had been a close friend to Catalano.</div>
<div class="adWrapper"> </div>
<div class="adWrapper">Waislitz said he had sold some Domain stock since Catalano's resignation on January 22. </div>
</div>
<div class="cq-article-content-paras section">
"We have reduced our position over the last few months, and including since he left. We will be driven by the information that comes out. We may sell more, we may buy more. We are keeping our options open.
"I'm very disappointed [Mr Catalano] is not there because he was [the] driver. On the other hand, he built a great team and the company will go on regardless. Obviously there are details that are still to come out.
</div>
<div class="cq-article-content-paras section">
"I think wiser heads should be involved; other directors of the boards of Fairfax and Domain should get involved in the discussion, take the emotion out of it, take some of the egos out of it and come up with sensible way to end this that allows the company to go on and grow."
Domain reported a half-year operating profit of $56.8 million earlier this week.
Its shares are down about 10 per cent since the beginning of January.  
</div>
</body></html>

Push for Antony Catalano to return to lead Domain

<html><body>
<div class="cq-article-content-paras section">
Fairfax Media is looking for new Sydney headquarters after agreeing to Google to take its remaining space at Pyrmont.
After almost a decade in the Mirvac-owned building at 1 Darling Island Road, Fairfax has assigned over its remaining 9000 square metre lease over three floors to Google, who had been subletting since 2013, a demoralising physical sign of the massive shift amid the digital age. 
Fairfax's lease was to run until 2027.
Google has already taken several floors in the 22,000 square metre building from Fairfax which signed up to the deal under its late chairman Sir Ron Walker.
</div>
<div class="cq-article-content-paras section">
Fairfax has about 950 staff at Darling Island.
It is seeking between 8000 square metres and 10,000 square metres.
</div>
<div class="cq-article-content-paras section">
Google is still looking for new long term headquarters as well.
</div>
</body></html>

Fairfax cedes Darling Island to Google

<html><body>
Domain is expected to be spun out of Fairfax in November, pending a shareholder vote at an extraordinary general meeting.
Fairfax updated the stock market on progress of its plans for the Domain group today.
Fairfax plans to retain a 60 percent stake in Domain, with the remaining 40 percent distributed to Fairfax shareholders.
Nick Falloon will be chairman of Domain. 
<a href="https://www.propertyobserver.com.au/images/2017/08/16/Screen%20Shot%202017-08-16%20at%201.38.37%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/16/Screen%20Shot%202017-08-16%20at%201.38.37%20pm.jpg" alt="">
Domain delivered 19% growth in digital revenue but a 12% fall in print ad revenue over the past financial year.
Domain’s operating expenses increased 17%, but its print costs fell 6%, largely as a result of a new magazine format.
EBITDA also fell 6% in the first half as a result of investment, but improved in the second half.
The publishing giant’s biggest area of growth was Domain Group, which climbed 8.1% to $320.3 million revenue from $296.3 million for FY16.
Fairfax expects a scheme booklet to be available in late September, then a roadshow in November along with a shareholder vote to approve the listing in early November.
Last week the REA Group announced a 19 percent fall in full year profit to $206 million, mainly due to a write-down in the value of the company’s Asia business.
<a href="https://www.propertyobserver.com.au/images/2017/08/16/Screen%20Shot%202017-08-16%20at%201.38.51%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/16/Screen%20Shot%202017-08-16%20at%201.38.51%20pm.jpg" alt="">
Revenue was up 16% to $671.2 million.
Net ­profit amounted to $206.3 million in the year ended June 30, down from $253 million in the prior year.
</body></html>

Domain set to be floated in November by Fairfax

<html><body>
Fairfax shares were placed in a trading halt on Tuesday morning after The Australian Financial Review's Street Talk column revealed spin off plans on Monday. 
The media group seems set to retain between 60 per cent and 70 per cent of Domain under the separation plan.
Fairfax Media is considering a proposal to "spin off" its real estate business Domain. Analysts expect Domain to be worth about $2 billion as a separately listed entity.
The Australian Financial Review's Street Talk advised no formal decision has yet been made.
It wrote Fairfax is "seriously considering spinning off Domain into a separately listed vehicle to be run by current Domain boss Antony Catalano."
Macquarie Capital is advising Fairfax, it revealed.
The article comes as Fairfax prepares to hand down its financial results for the six months to December 31 on Wednesday.
Domain is expected to be a key feature at the results announcement despite recent reports of a constipated listings market.
A Fairfax spokesperson declined to comment to the AFR columnists.
Sources told Street Talk key Fairfax decision makers thought that "the time was right" to enact the long-speculated spin off plans before the end of the year.
The business column described Domain as the shining light within Fairfax earning about $130 million a year for the publishing company.
Goldman Sachs analysts expect Fairfax to report $139 million in earnings before interest, tax, depreciation and amortisation for the six-months to December 31, with Domain accounting for $65 million.
Goldman Sachs told its clients on Monday that it was "all eyes on Domain" with particular focus on any pushback from agents on January price rises.
Last November the billionaire small cap investor Alex Waislitz urged Fairfax Media to consider changing its name to Domain to reflect its growing real estate listings business is now worth more than the entire company’s market value.
Waislitz, whose listed fund Thorney Opportunities (TOP) and private fund Thorney Investment Group own more than 50 million Fairfax shares, suggested the Fairfax name was “anachronistic” and urged the media company to consider rebranding itself.
“We think Domain alone is worth in excess of the entire market capitalisation of Fairfax," The Australian reported.
Last December when speaking to Mumbrella, Antony Catalano said there was “no need” for the real estate business to float separately.
“When you have a business that is growing as quickly as Domain is growing then we have an obligation to our shareholders to realise the value of this business,” he said.
“Fairfax is never going to float this business when so much of the value still hasn’t been realised.
"We’ve said publicly this is a business we expect to grow from $120m EBITDA to somewhere in excess of $200m EBITDA over the next two to three years."
</body></html>

Fairfax

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Fairfax

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.