<a href="https://www.apartments.com.au/developments/collingwood-vic-3066">Collingwood</a>’s northern edge continues to sharpen its reputation as one of Melbourne’s most compelling cultural precincts, where established creative institutions, leading hospitality, and independent fashion converge within a tightly held inner-city neighbourhood.

Set within this evolving pocket, <a href="https://www.apartments.com.au/new-apartments/derby-street-by-milieu-collingwood-4-derby-street-collingwood-vic-3066">Derby Street by Milieu</a> draws on a location that balances proximity to some of the inner north’s most influential destinations with the quieter, tree-lined character that defines the streets edging East Melbourne. Positioned just moments from both Smith and Gertrude Streets, the address sits on the periphery of Collingwood’s cultural core, offering immediate access without the intensity of its busiest frontages.&nbsp;

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Gertrude Street, in particular, anchors the area’s identity as a destination for Melbourne’s leading food, art and fashion. Within a short walk, venues such as Marion, Cutler &amp; Co, IDES and the Builders Arms Hotel define a tightly curated dining scene with enduring citywide appeal, complemented by a strong fashion and retail presence including Havn, Le Labo and a selection of independent boutiques.

Nearby, institutions such as the Australian Print Workshop and Collingwood Yards sustain a constant rhythm of exhibitions, performances and creative output, embedding art and culture into the everyday fabric of the neighbourhood.

Smith Street, running parallel, extends this offering with a broader mix of hospitality and nightlife, maintaining its status as one of Melbourne’s most active inner-urban strips.

Beyond these high-energy streets, the immediate surrounds shift in tone. Derby Street and its neighbouring blocks are defined by low-rise heritage terraces, mature trees and a settled residential character. Fitzroy Gardens and Carlton Gardens are both within walking distance, alongside the Royal Exhibition Building and Melbourne Museum, bringing together green space and cultural landmarks within minutes of home.

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Connectivity remains a key advantage. The CBD sits within easy reach, accessible by tram along Smith Street in around 20 minutes, while also remaining close enough to walk or cycle, supported by the inner north’s established bike network.&nbsp;

<a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s long-standing connection to Collingwood underpins the project’s approach. With a portfolio that includes multiple nearby developments across Bedford, Peel and Napier Streets, the developer brings a sustained understanding of the area’s character and evolution. Derby Street continues this trajectory as a collaboration with award-winning Melbourne-based <a href="https://www.apartments.com.au/architects/studio-bright">Studio Bright</a>, marking the practice’s first multi-residential project in the inner north and reflecting a shared focus on design integrity and contextual response.&nbsp;

Balancing connection to the neighbourhood with a sense of seclusion and refuge, Derby Street by Milieu embodies a level of care and craft typically reserved for single residential projects. Comprising 22 residences across six storeys, with two to four-bedroom configurations priced from $1.15 million, the project is currently under construction with completion expected in late 2027.&nbsp;

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Joel Robinson

Derby Street by Milieu, at the top end of Collingwood

A rare new apartment development in the Blue Mountains is the latest in a string of State Significant Development Applications submitted through the New South Wales Government's Housing Delivery Authority.

A total of 270 apartments are being proposed for the 1.16-hectare site at <a href="https://www.apartments.com.au/new-apartments/blue-mountains-alpine-retreat-142-150-narrow-neck-road-katoomba-nsw-2780">142–150 Narrow Neck Road in Katoomba</a>, a parcel of land adjoining the former Katoomba Golf Course. The site was acquired for $3.85 million in 2021 by private developer VDM Prime.

The apartments, comprising a mix of serviced apartments, affordable housing, and traditional build-to-sell product, will be spread across eight low-rise buildings, along with a separate building for a new restaurant, arranged around a green spine that leads to a central park.

<img alt="Katoomba" data-entity-type="file" data-entity-uuid="ee9a2072-f465-44f1-9076-80c9c8ecca02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-22%20at%209.20.21%E2%80%AFAM.png?VersionId=4bT0vQ7j_syl65wcrJmHGm3m5pTvwrY_" />

The Urban Design Report by Atlas Urban says the vision is to create a "contemporary mountain precinct that is responsive to its escarpment landscape, heritage character, and community context."

"The development responds to the current housing supply and affordability challenges identified under the NSW Housing Delivery Authority (HDA), providing a balanced mix of standard, affordable, and short-stay accommodation," the report noted.

"By introducing a variety of dwelling types and tenures, the proposal supports intergenerational living, local workforce retention, and greater housing choice within an area constrained by topography, heritage, and environmental protections."

Of the 270 units proposed, 52 will be serviced apartments. The remainder will comprise 54 studios, 121 one-bedroom units, 39 two-bedroom apartments, and four three- to four-bedroom residences.

<img alt="Katoomba" data-entity-type="file" data-entity-uuid="f704508d-1bdf-4170-955d-0256652402a7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-22%20at%209.56.49%E2%80%AFAM.png?VersionId=TzarHMO4gTOsblCqsbJQkvMqWj9nu2Au" />

The Design Report, by VDM Prime and appointed architect Antoniades Architects, noted that the design seeks to "provide a built form outcome that is highly considered, respectful and contextually fitting, whilst contributing positively to an evolving precinct."

"The site offers three frontages and the opportunity to provide a meaningful interface with the public domain environment. the design has a sympathetic response to streetscape and the green open space that surrounds the site."

The report states that the buildings are broken up to establish an appropriate bulk and scale, emphasised through height and setback strategies and defined through articulation that supports the transition of precinct granularity. It also notes that a central communal open space is established through the site to enhance the social dynamic and access to amenity, including natural ventilation and light to the apartments. The east and west frontages receive solar access during the morning and afternoon, whilst maximising views to the green open space.

The site adjoins the recently completed Yarrabee Katoomba development, comprising 24 duplexes that were completed last year and sold through McGrath Projects.

The relatively new Housing Delivery Authority pathway established by the NSW Government allows developers to submit State Significant Development Applications through a fast-tracked state process, effectively reducing reliance on local council approval pathways and aiming to accelerate housing delivery across New South Wales.

First look: Nearly 300 apartments pitched on former Katoomba golf course site

In Melbourne’s established inner east, the qualities that define a traditional house, width, height, and access to open ground, are increasingly difficult to replicate in new residential developments. Larger landholdings are scarce, and with them, the ability to create apartments that extend beyond compact, internalised layouts.&nbsp;

In <a href="https://www.apartments.com.au/developments/kew-vic-3101">Kew</a>, where the residential fabric is shaped by generous setbacks and mature tree canopies, that tension is especially visible.

<a href="https://www.apartments.com.au/developers/ricdanic-investments-pty-ltd">Ricdanic</a>&nbsp;is bringing forward a boutique collection of just 13 residences across two buildings at 9–11 Wimba Avenue, Kew. Comprising six homes at No.9 and seven at No.11, the project sits on a quiet, tree-lined street just off Cotham Road.&nbsp;

Each apartment has been planned with a level of independence more commonly associated with standalone dwellings, balancing privacy with the efficiencies of apartment living.

Architect Chris Idle, who has been practising for over two decades, says projects like this don’t come along often.

“There are very few opportunities to do these kinds of developments in leafy, established suburbs,” he explains. “To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare.”

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The internal planning begins with width. Living areas extend beyond five metres, allowing furniture, circulation, and glazing to sit comfortably within the same zone without compression. Ceiling heights shift from three metres through to five metres in select areas, changing the sense of scale as you move through the apartment. These proportions are paired with double-glazed windows and fully electric systems, balancing volume with performance, supported by a 7.2 NatHERS energy rating.&nbsp;

From the main living space, the apartments open directly outward. Large sliding doors connect to private gardens averaging 125 square metres, with some residences also incorporating balconies of around 60 square metres. Rather than acting as secondary outdoor zones, these areas sit flush with the internal floor level, extending the usable footprint of the home and allowing for multiple modes of use, whether for quiet daily routines or larger gatherings.&nbsp;

The landscape, led by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>, reinforces this relationship. Across the site, 23 different plant species have been introduced, including a mix of native and established varieties, arranged to maintain privacy while preserving sightlines and light access. Gardens are not treated as decorative buffers but as functional extensions of the apartments, shaped to accommodate movement, seating, and informal use over time.&nbsp;

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Architecturally, the project draws from Kew’s historic residential language. Handmade bricks by Krause define the exterior, grounding the buildings within the material palette of the suburb, while interior finishes, stone, timber flooring, and restrained detailing, continue this approach internally. Architect Chris Idle describes the intent as long-term rather than stylistic: “We wanted it to feel timeless.”&nbsp;

This emphasis on durability extends to how the buildings are accessed and secured. Entry is managed through keyless systems, with a double-gated basement incorporating number plate recognition for vehicle access. Each residence is paired with a private lock-up garage accommodating two to three cars, alongside storage, while all entry points are monitored continuously. These measures sit alongside EV readiness and fully electric infrastructure, aligning the project’s operational systems with its long-term design outlook.&nbsp;

The setting remains central to how the development is experienced. Located within walking distance of Kew Junction and close to established schools including Carey Grammar and Xavier College, the address benefits from existing infrastructure while maintaining a residential quietness that is increasingly difficult to find at this scale.&nbsp;

Construction is being delivered by <a href="https://www.apartments.com.au/builders/sinjen">Sinjen</a>, with a 10-year structural guarantee, with completion targeted for mid-2027.

[smartcode_project_cta:default project_id=140755]

Inside Wimba Ave, Kew’s garden-scale residences designed for space and permanence

High-end Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a> has secured approval for one of its latest Mosman projects, one of the first developments approved by Mosman Council under the NSW Government’s Low and Mid-Rise Housing Policy.

The approval represents an important step in delivering well-considered housing next to established village locations on Sydney’s Lower North Shore, in line with the intent of the Low and Mid-Rise zoning framework. 
&nbsp; 
There are currently 13 other sites lodged within Mosman Council under the policy, with <a href="https://www.apartments.com.au/new-apartments/27-29-heydon-street-mosman-nsw-2088">Heydon Street</a> among the first to receive development consent. 
&nbsp; 
Abadeen Founder and Executive Chairman Justin Brown said the project reflects a considered and appropriate response to its planning context. 
&nbsp; 
“This approval demonstrates how carefully considered, design-led development can align with the objectives of the Low and Mid-Rise Housing Policy," Brown said.

"The scheme has been designed to respond sensitively to its village setting, with a built form, scale and level of amenity appropriate to its local context. The determination reflects a balanced and considered planning outcome, with Council recognising the capacity for this site to accommodate additional housing within a well-located and established precinct.”

<img alt="Abadeen secures first approval under low and mid-rise housing policy for Heydon Street, Mosman" data-entity-type="file" data-entity-uuid="92811ce3-02e8-44fc-996e-c61ae039bd3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Heydon%20Street%20Aerial.jpg?VersionId=ZHJVuWQT64QcdrFJx963pFWFzTX7lI2I" />

The Heydon Street approval followed extensive consultation with Mosman Council, with Abadeen working closely with Council throughout the assessment process.

The approved scheme comprises 27 residences, with only four per floor, creating a low-density living environment. The building will include four half-floor penthouses designed to capture views across Middle Harbour, Sydney Harbour and the surrounding district.&nbsp;

The project is expected to appeal to downsizers and owner-occupiers seeking house-like proportions, privacy and local convenience. There will be north-facing Middle Harbour views from the second level upward. It is also just a flat 100-metre walk to Bridgepoint Shopping Centre, which will appeal to owner-occupiers and in particular downsizers.

Two-bedroom residences are expected to be priced from $1.99 million when sales launch later this year. 
&nbsp; 
Joe Tack, CEO at Abadeen, said the outcome reflects both the quality of the site and the broader need for well-located housing. 
&nbsp; 
“This is a highly considered site within a highly established local setting, offering elevated views and strong connectivity. The project has been designed to respond to that context, delivering a scale and quality of housing aligned with both the planning framework and evolving market demand.” 
&nbsp; 
“This approval is particularly significant in the context of Mosman, where new housing supply has historically been limited. While it represents the first approval of this scale in Mosman to be achieved in over 50 years, it is importantly located within a well-established residential location, in close proximity to the established commercial amenity of Spit Road and Mosman Village. It reflects strong confidence in Abadeen’s approach to design, delivery and community integration, while contributing to the delivery of much-needed housing in a highly constrained market.”

Abadeen has an established track record across Sydney’s Lower North Shore, with recent completions including KOYO in Crows Nest and ENSO in Neutral Bay.

In Mosman, Abadeen recently completed The Hampden, with Mosman Residences on the corner of Spit Road and Clifford Street scheduled for completion later this year. Construction has also commenced at Burran Residences, comprising three full-floor ultra-premium homes positioned just 50 metres from Balmoral Beach, with residences expected to achieve prices in excess of $20 million. Two further projects are also progressing through planning within the local government area.

Abadeen secures first approval under low and mid-rise housing policy for Heydon Street, Mosman apartment development

Apartment developer <a href="https://www.apartments.com.au/developers/martello">Martello™</a> is one of the latest entrants to the Gold Coast development market, with its debut project set to be one of the most boutique offerings on Chevron Island in recent years.

Martello has unveiled <a href="https://www.apartments.com.au/new-apartments/aere-chevron-island-18-20-mawarra-street-chevron-island-qld-4217">Aere Chevron Island</a>, a collection of 33 large-scale two-, three-, and four-bedroom apartments across an 18-storey building on Mawarra Street.

[smartcode_project:default project_id=143932 project_image_fid=367517]

The developer has placed a strong emphasis on wellness, briefing architecture firm Raunik Design to embed this philosophy into the project. It is a direction <a href="https://www.apartments.com.au/developers/martello">Martello™</a> plans to carry through its future developments along the coast.

<a href="https://www.apartments.com.au/developers/martello">Martello™</a> has positioned Aere as a continuation of its human-centric development approach, with a focus extending beyond amenity to the fundamentals of layout, natural light, and spatial planning. Promax Construction has already been appointed to deliver the project, with construction expected to commence in the coming months as part of the group’s broader expansion into South East Queensland.

Rising above the low-rise fabric of Chevron Island, Aere’s design emphasises generous internal proportions and uninterrupted outlooks, with residences oriented to capture coastal, skyline, and waterway views. Interiors prioritise open-plan living, with large-format glazing and carefully considered transitions between indoor and outdoor spaces.

[smartcode_project:default project_id=143932 project_image_fid=367508]

The upper levels are dedicated to larger-format homes, including four-bedroom residences designed as half-floor offerings. These layouts prioritise separation between living and sleeping zones, along with increased privacy and storage, features more commonly associated with detached housing than traditional apartment product.

Aere’s private resident amenity spaces centre on wellness. A rooftop level will incorporate a heated swimming pool, sauna and spa, alongside a residents’ lounge, dining areas and barbecue spaces, while additional shared facilities throughout the building include a gym and yoga area.

The inclusion of both social and quieter retreat spaces reflects a broader shift in higher-end apartment design on the Gold Coast, where developers are increasingly responding to owner-occupier demand for buildings that support long-term living rather than short-stay use.

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Aere is positioned within walking distance of Chevron Island’s village centre along Thomas Drive, as well as the HOTA cultural precinct via the Green Bridge, connecting residents to parklands, galleries, and event spaces.

For <a href="https://www.apartments.com.au/developers/martello">Martello™</a>, Aere represents the first in a series of planned Gold Coast developments, with the group also exploring opportunities in other coastal precincts, including Kirra and Palm Beach.

The move north comes as sustained population growth and infrastructure investment continue to reshape South East Queensland, with developers increasingly targeting boutique, design-led projects in established lifestyle pockets. Aere’s relatively small scale and emphasis on spatial quality position it within this emerging segment of the market.

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Martello™ enters Gold Coast market with wellness-led Chevron Island development Aere

Financial Review Rich List

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The Meriton apartment developer Harry Triguboff increased his wealth by $770 million in the past year, but still slipped down a spot to be named Australia’s third richest person in 2019.
High-rise Harry was given a $13.54 billion net worth on the nation’s wealthiest 200 in the Financial Review Rich List.
With wealth of $15.57 billion, paper and packaging magnate Anthony Pratt ranks as the nation’s richest, followed by mining magnate Gina Rinehartwith $13.810 billion.
The Shimao property baron Hui Wing Mau came fourth at $10.390 billion and tech whiz Scott Farquhar fifth with $9.75 billion and his Atlassian co-founder Mike Cannon-Brrokes sixth at $9.63 million.
Cannon-Brookes and Farquhar were placed fourth and fifth on The List of Australia’s Richest 250 when it was published by The Australian in late March, with wealth of $9.01 billion each — the bulk of which is from their respective, and equal, Atlassian share holdings.
Property dominated The List — Australia’s Richest 250, contributing 68 members. Combined, the 68 are worth more than $85 billion and are responsible for the biggest housing projects around the country. The AFR Rich List has 63 with their source of wealth put down to property.
Triguboff is the country’s biggest landlord, and has recently built many of his 65,000 apartments to rent them out.
Frank Lowy sits in 7th place on the AFR list with $8.56 billion. The Westfield co-founder Frank Lowy says he now feels “at home” after moving to Israel late last year.
“I feel that I’m home. That’s all. Very simple,” Sir Frank said in an interview with Israel television network Channel 12.
The Times of Israel has reported Sir Frank as having “made Aliyah”, which is the migration of Jews to Israel.
Sir Frank, who was born in 1930 and survived the Holocaust in Hungary, became an Israeli citizen in February.
Sir Frank and his wife Shirley, who battling Alzheimers, are the subject of the documentary What Will Become of Us, which is showing at the Sydney Film Festival next week.
In December 2017, Sir Frank pulled off the biggest deal in Australian corporate history: the $US24.7bn ($32bn) sale of his Westfield retail empire to French company Unibail-Rodamco. 
Property developer Bob Ell, with an estimated worth of $1.84 billion, sits in 44th place.
Leda is behind the lucrative Cobaki Estate development, west of Gold Coast Airport.
The property investor Con Makris and his family are No.69 on the list with a worth of $1.32 billion.
Garry Rothwell at Winten is in 150th place with $656 million.
Jerry Schwartz is No.178 on the Rich List list with a worth of $554 million.
The cosmetic surgeon is Australia’s largest private hotel owner, the son of late Hungarian immigrants Bela and Eve Schwartz, who built up a portfolio of hotels, resorts and pubs across Australia. 
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Harry Triguboff slips to Australia's 3rd richest billionaire despite boost in wealth

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Melbourne property developer Tim Gurner has come third in this year's Young Rich List, only behind Atlassian's Mike Cannon-Brookes and Scott Farquhar.
Gurner, 36, has moved from fifth in last year's earnings list. He has an estimated wealth of $631 million, up from $465 million in 2017.
Last year Gurner and wife Aimee upgraded homes in the affluent Melbourne suburb Toorak. They sold their 1930s English-style home for $7.55 million and paid $17 million nearby. 
Cannon-Brookes, the recent $100 million buyer of the Fairfax estate Fairwater, and business partner Scott Farquhar, who bought Elaine for $71 million last year, have a combined net worth of $14.2 billion.
They have topped the list for a record seventh year in a row, smashing their previous record of $6.08 billion.
Ori Allon, the 38 year old New York-based property and technology identity moved to number four on the list with a wealth of $539 million.
Last year he was seventh with a net worth of $364 million. The move came after his real estate firm Compass made a big splash disrupting the US property market.
Former Essendon Bomber Andrew Welsh, who has turned to property developing including creating his own Melbourne suburb, was 23rd on the list with an estimated wealth of $121 million.
Fellow property developer and Kanebridge founder Marwan Rahme, who only made his debut on the list last year, again sits at number 35 with a $70 million net worth.
Clearstate founder and managing director Dean Willemsen is two spots behind in 37th with a worth of $65 million.
Ross Robinson, co-founder and chief executive of Real Institute Australia, rounds off the property players in the top 100 at 64 with an estimated wealth of $39 million.
Despite a turbulent year, former Australian cricket captain Steve Smith leads the sports stars  
It's been a record breaking year for the Financial Review 2018 Young Rich List among the next generation of game changers.
The total wealth of the 2018 Financial Review Young Rich List reaches a record $23.5 billion for the 100 List occupants, up from $13.2 billion in 2017.
Their wealth is 14 times more than the next two names on the Young Rich List. 
Fellow tech heads Dave Greiner and Ben Richardson, who co-founded Campaign Monitor, missed out on the top 10 this year. Last year they were second with a combined total of $607 million.
Fitness entrepreneur Kayla Itsines and her fiancee Tobi Pearce are joint fifth and six on the list with combined wealth of $486 million. 
They are the wealthiest self-made 20-somethings in Australia after enjoying enormous success with their fitness app Sweat.
Despite a turbulent year which saw him banned from cricket for a year, former Australian captain Steve Smith debuted on the list in 95th place along with F1 driver Daniel Ricciardo at number 71.
Former NBA star and new Sydney Kings recruit Andrew Bogut tops the sportsmen in 30th, shortly ahead of top golfer Adam Short who is 33rd.
Socceroo legend Harry Kewell is the longest serving figure on the list. The manager of English Football League club Crawley Town, who is 48th this year, has been on the list since 2003.
There are 10 women on this year's Young Rich List, up from nine last year. Female debutants include Adore Beauty co-founder Kate Morris and Clearskincare Clincs managing director Alarna Longes.
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Tim Gurner in distant second to Atlassian duo in Young Rich List

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Anthony Pratt, the packaging and recycling tycoon, remains Australia's richest person.
He topped the 2018 Rich List, but not by much with Harry Triguboff in second place.
Billionaire Anthony Pratt is the richest person in Australia, topping the 2018 Financial Review Rich List with record personal wealth of $12.9 billion. It was up from $12.59 billion.
Pratt heads his family's dominant Visy cardboard box manufacturing and recycling business.
The Sydney high-rise apartment king Harry Triguboff's wealth was at a record personal level of $12.77 billion.
Triguboff's fortune rose from $1.34 billion last year, but he is still just behind Pratt in second place.
Third on the 2018 Rich List was mining magnate Gina Rinehart.
There are a record 76 billionaires on the list, up from 60 a year ago.
While narrowly missing out on billionaire status, hotelier Justin Hemmes joins the biggest group of Rich Listers, property magnates, who account for 51 of the 200 names.
The late Kerry Packer topped the ranks of the then BRW Rich 200 for 15 consecutive years, from 1990 until his death in 2005.
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Harry Triguboff comes in a close second on property dominant 2018 AFR Rich List

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Prominent Sydney hotelier Justin Hemmes has been included in this year's Rich List.
Hemmes and his family have amassed a $951 million fortune via the ownership of 70 pubs, hotels, restaurants and venues in and around Sydney, including The Ivy on George Street in the heart of the CBD. No reason for their recent absence from the list was readily offered.
He joins the biggest group of Rich Listers, property magnates, who account for 51 of the 200 names. The family retains property dating back to 1972 when it bought the Angel Hotel for $500,000 on Pitt Street, Sydney.
Hemmes just misses being among the record 76 billionaires on the Financial Review Rich List.
They include billionaire Meriton's Harry Triguboff.
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Most of the property names on the list are in the booming residential sector.
</div>
<div>The 45-year-old Hemmes is among 12 new names in the 2018 edition which will be published tomorrow.</div>
<div>
Hemmes' late father John and mother Merivale jointly appeared on the BRW Rich List in 1984 with a net wealth of $12 million, the first edition of the list in its current form.
<div>
Thirty-five years ago, BRW Magazine compiled the first annual list of the 200 richest people in Australia, a year after the first BRW 100 was printed in 1983.
Last year, the list became the Financial Review Rich List. There are 15 names on this year's list that where in the 1984 edition.
John and Merivale Hemmes' 1984 Rich List entry attributes their wealth to their John and Merivale clothing chain that was started after John moved to Australia in 1952. He then met, and married, Merivale, a milliner.
They set up a clothing chain, one of Australia's leading fashion chains in the 1960s and 1970s, the cash flow from which they bought property holdings.
Apparently John and Merivale Hemmes had once been evicted from a rented property in central Sydney and swore they would never pay rent again.
The Hemmes family properties include the Establishment Hotel on George Street, which cost $9 million to buy in 1998 and the CBD Hotel on York Street, which John Hemmes bought in 1993 for $3.1 million. 
</div>
<div>
Those two properties are worth at least 50 times more, the Rich List suggests, and along with The Ivy, where a 55-storey-hotel is now planned, form the foundation of Justin Hemmes and his family's wealth.
In recent years the empire has expanded to include the Coogee Pavilion, Enmore's Queen Victoria Hotel and The Newport.
Sydney's beachfront Collaroy Hotel was bought by the Merivale group in an off-market sale, with market chatter putting the deal at around $21 million.
The Centennial Hotel in Sydney's eastern suburbs was a recent purchase.
Hemmes also recently spent nearly $9 million on a commercial kitchen to service his growing portfolio.
He has also spent millions on personal properties including on the NSW south coast town.
His home is the heritage harbourside Vaucluse manor house, The Hermitage.
The Hermitage, one of the earliest mansions in Sydney's east, is of the Victorian Rustic Gothic style, built in an era when the curtains were drawn. 
It was bought in 1975 paying $500,000 in a 1970s credit squeeze fire sale when it was sold by Dick Baker following the 1974 collapse of his company Mainline.
It was in 2011 when Justin Hemmes, the chief executive officer of the Merivale hospitality group, moved back into his family home.
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Hemmes hotelier family return to Rich List 

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The recent national house price record setter Scott Farquhar, who paid $71 million for Elaine in Double Bay earlier this year, and business partner Mike Cannon-Brookes top this year's Financial Review Young Rich List.
The 2017 list has the Atlassian co-founders wealth pegged at a combined record $6.08 billion, more than 10 times the wealth of third and fourth on the list.
Farquhar hit the headlines earlier this year when he bought Australia's most expensive house.
Fellow entrepreneurs, Shire based Dave Greiner and Ben Richardson, come in second with $607 million. They founded web marketing business Campaign Monitor.
Melbourne property developer Tim Gurner, who has his Toorak trophy home for sale, is next, with a wealth of $465 million.
Sixth is Owen Kerr, co-founder of online foreign exchange trader Pepperstone. He has a wealth of $368 million.
New York-based tech and property idenitity Ori Allon is 7th with $364 million, ahead of Sydney retailer and biotechnology company founder Sam Prince who has a wealth of $318 million.
Sydney r. Prince, owner of Mexican fast food chain Zambrero is eighth while husband and wife duo Collis and Cyan Ta'eed, co-founder of online graphic marketplace Envato, round off the top 10 with a combined wealth of $216 million.
There are 27 debutants on the 2017 Young Rich List, including global fitness and health star Emily Skye, who came in at number 83 with a wealth of $32 million.
Airtasker co-founder Tim Fung, who bought in Woollahra recently, and joint founder Jonathan Lui placed 66th and 67th with $41 million.
The youngest debutants are HiSmile co-founders Nik Mirkovic and Alex Tomic who debut in positions 58 and 59 with combined wealth of $46 million. The Gold Coast duo are aged 22 and 24 respectively
Nine women appeared on the 2017 Young Rich list, up from eight last year.
They include Canva CEO Melanie Perkins, model Miranda Kerr and fitness guru Kayla Itsines.
This year the total wealth reached a record $13.2 billion, up from $12.3 billion in 2016.
The average wealth per person on the List rises to $132 million, up from $123 million last year.
 
 
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Elaine's $71 million buyer tops 2017 Young Rich List

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BRW rich listers the Gandel family have taken a 6.6 per cent stake in listed property valuation and advisory firm Landmark White, which recently acquired rival MVS National.
Tony Gandel - the son of property developer John Gandel - and his wife Helen, bought into LMW, according to The Australian Financial Review. John Gandel ranked seventh on the recently released 2017 BRW rich list with a net worth of $6.05 billion.
The five million shares in Landmark White that the Gandels bought for $3 million make them the third biggest investor in the company, behind co-founder Glen Joseph White (14 per cent) and fund manager Microequities (16.5 per cent).
Tony Gandel runs the family's Gandel Invest business which, according to its website, "makes strategic, non-controlling investments in growing businesses".
"Gandel Invest typically seeks to acquire a 30-40 per cent shareholding and assist the company to grow and achieve the goals of all shareholders," according to its website. 
The investment by Gandel came a day after Landmark White completed the acquisition of MVS National for $35 million that would create the largest ASX-listed valuation services business.
The acquisition, which was struck on an earnings multiple of 4.5, adds 85 valuers to LMW's staff of 250 and expand its revenue stream to incorporate government and statutory valuation work, the AFR reported.
Shares in LMW fell 1 per cent on Wednesday to close at 61.5¢.
According to Greville Pabst, executive chairman of national valuation firm WBP Property Group, industry consolidation is being driven by the scale required to fund technology platforms and the cost of professional indemnity insurance.
 
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Billionaire Gandel family buy stake in valuation firm Landmark White

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The owner of the National Basketball League and Melbourne property developer, Larry Kestelman, is the second highest debutant to make it on the Financial Review Rich List.

He is ranked 85 on the list behind the highest ranking debutant, Perth businessman Tim Roberts who is the son of Multiplex founder John Roberts who is ranked 62.

Roberts has an estimated $986 million net worth with Kestelman's worth put at $749 million net worth.

Roberts has a diverse number of investments including funds management and he is part of businesses such as AVWest and Warburton Group.

Kestelman owns various sporting groups, however his main wealth comes from property via his LK Property Groups which he is chief executive.

He also owns 75% ownership of Philippine outsourcing and call-centre company, Acquire BPO.

LK is currently building the Capitol Grand project in Melbourne, which will consist of 500 plus apartments over 50 storeys.

Last year Property Observer reported on the commencement of demolition for the Capitol Grand project in <a href="/news/capitol-grand-south-yarra-set-to-commence-demolition-after-120-luxury-apartment-sales">South Yarra</a>.

In 2013 he sold his company Dodo for $230 million.

Property tycoons dominated this year's Financial Review rich list.

<h2>VIC properties selling now:</h2>

[smartcode_project:default project_id=3494]

[smartcode_project:default project_id=24323]

[smartcode_project:default project_id=27728]
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