Lendlease’s Barangaroo South precinct is officially complete, marking the culmination of a 15-year urban regeneration project that has revitalised Sydney’s harbourfront.&nbsp;

In 2009, the NSW Government’s Barangaroo Delivery Authority appointed <a href="https://www.apartments.com.au/developers/lendlease-development">Lendlease</a> as developer to transform what was once an inaccessible container port on the western edge &nbsp;of Sydney’s CBD into one of the city’s most thriving mixed-use destinations. Today, Barangaroo South is home to more than 1,800 residents, 23,000 workers, 95 retailers and welcomes 33,000 visitors each day. The precinct stands as an international benchmark for large-scale urban regeneration.&nbsp;

International Towers Sydney, the three flagship commercial buildings at the centre of &nbsp;Barangaroo South, together with engineered timber buildings Daramu House and &nbsp;International House, attracted major corporate tenants from the outset, including Westpac, &nbsp;PwC and KPMG, who are still there today. These workplaces remain some of the most &nbsp;sought after in Sydney’s CBD with over 95 per cent occupancy– a testament to the appeal of world-class, modern infrastructure alongside the precinct’s dining and entertainment that &nbsp;are a drawcard for businesses.&nbsp;

One Sydney Harbour, the three luxury residential towers designed by world-renowned architect Renzo Piano, has achieved more than $4 billion in sales since its launch in 2019, while setting new Australia property price records. This includes the three-level penthouse that crowns Residences One which sold for more than $141 million in 2019 – the most expensive individual residential property ever sold in Australia. &nbsp;

[smartcode_project:default project_id=139801 project_image_fid=349150]

Barangaroo South is also Australia’s first mixed-use carbon-neutral development, an accolade achieved through energy-efficient and innovative infrastructure, including a district cooling plant with a harbour water heat rejection system, a recycled water &nbsp;treatment plant, onsite solar and an embedded electricity network.

The precinct has maintained its Climate Active Carbon Neutral certification since 2019, affirming its &nbsp;reputation as the gold standard in large scale, sustainable urban renewal. Additionally, its &nbsp;world leadership status has been validated by the Green Building Council of Australia’s &nbsp;6 Star Green Star Communities recertification (Pilot v.2).

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First Nations cultural values were embedded throughout the planning and delivery of the project. The precinct honours Barangaroo, a prominent First Nations woman, through its &nbsp;name. Public art, street names, and design elements across the precinct reflect and &nbsp;celebrate First Nations cultures and connections to Country.&nbsp;

The project's completion positions Barangaroo South as a legacy urban transformation delivered through long-term partnerships and world-leading urban regeneration and placemaking capabilities. &nbsp;

[smartcode_project:default project_id=139801 project_image_fid=349154]

Tony Lombardo, Group CEO Lendlease, said&nbsp;Barangaroo South represents one of the most significant urban regeneration projects in Australia.

"[It] demonstrates what can be achieved through an ambitious vision, innovative placemaking, long-term commitment and strong partnerships. The precinct has changed the face of Sydney's waterfront, established new benchmarks &nbsp;for sustainable development, and provided a model for urban regeneration that continues &nbsp;to inform our approach to creating places that deliver long-lasting value.”&nbsp;

Tom Mackellar, CEO Development Lendlease, said&nbsp;Barangaroo South has reconnected the city to its harbour in a way that seemed unimaginable 15 years ago and turned it into a thriving precinct where people can live, work and gather on the harbour’s edge.&nbsp;

“This precinct is the result of countless contributions, led by the NSW Government who set the ambition, supported by investment partners who believed in Lendlease’s vision, imagined by architects and designers, shaped by consultants and artists, and brought to &nbsp;life by our dedicated construction teams. &nbsp;

“What we’ve created here is more than buildings – it’s the best of placemaking, sustainability, arts and culture and quality design. Barangaroo South has become an integral part of Sydney that will serve our city and economy for generations.”

Staff Writer

Barangaroo South’s 15-year transformation of  Sydney’s waterfront officially complete

CBE Asia Pacific has lodged plans for a prominent corner site in Fitzroy North, with a proposal that integrates state-significant affordable housing alongside heritage adaptation and new retail.

The application covers a consolidated 2,024 sqm parcel at 201–215 Queens Parade and 6–12 Dummett Crescent. The site includes the heritage-listed Former Clifton Motor Hill Garage, fronting Queens Parade, and vacant land to the rear abutting Dummett Crescent.

According to planning documents prepared by proUrban, the proposal seeks approval for a 12-storey residential building comprising 98 apartments, including a component of affordable housing, over a ground floor retail podium integrated within the heritage structure. Approximately 780 sqm of retail space will occupy the ground floor, while residents will have access to over 850 sqm of communal amenity.

The built form presents as two connected volumes: a 12-storey tower addressing Dummett Crescent and a five-storey volume fronting Queens Parade, the latter consistent with a separate Heritage Victoria permit granted in 2023. The tower reaches a maximum height of 38.26 metres, with upper-level setbacks of 14 metres from the western boundary to reduce visual bulk. A 1.5-metre footpath widening is proposed to Dummett Crescent Lane.

Parking is provided across four basement levels, accessed via Dummett Crescent, with a total of 142 car spaces and 143 bicycle spaces.

The architectural response by <a href="https://www.apartments.com.au/architects/cht-architects">CHT Architects</a> is framed by a need to reconcile new density with a sensitive heritage overlay. The Former Clifton Motor Hill Garage, identified as a place of State heritage significance, will retain its key façades, with demolition and reconstruction limited to approved elements.

As noted in the Heritage Impact Assessment, the proposal remains consistent with the Heritage Victoria permit, which allows "partial demolition, reconstruction and new works, involving the construction of a five-storey multi-use development and three basement levels".

Affordable housing has been embedded into the proposal under Clause 53.23, with specific apartment allocations aimed at enhancing housing diversity within the Queens Parade Activity Centre.

"The proposal is generally consistent with the relevant policy objectives and the intent of the Yarra Planning Scheme," proUrban states in its planning assessment, citing its alignment with strategic documents including Plan Melbourne and Victoria’s Housing Statement.

CHT Architects' plans emphasise a tiered design that acknowledges the site's varied interfaces—from the elevated Heidelberg Road ramp reserve to the recently built Clifton Views aged care facility to the north-east.

CBE Asia Pacific has not been previously active in this precinct, but the project joins a wave of higher-density residential proposals along the Queens Parade corridor, spurred by Melbourne’s broader push to increase affordable housing in well-connected inner-urban areas.

The site benefits from direct access to the Queens Parade tram corridor and proximity to Clifton Hill Station (approximately 200 metres), as well as green open spaces including Mayors Park and Raines Reserve. Clifton Hill Primary School and the Queens Parade retail village lie within walking distance.

First look: CBE Asia Pacific plans 100-apartment Jenkin House on Queens Parade, Fitzroy North

ALT Pasta, one of Melbourne’s most beloved inner-city pasta bars, has been confirmed as one of the first tenancies for the highly anticipated <a href="https://www.apartments.com.au/new-apartments/comme-prahran-182-194-commercial-road-prahran-vic-3181">Comme Prahran</a> development, marking an exciting next chapter for the cult favourite as it prepares to expand into the heart of <a href="https://www.apartments.com.au/developments/prahran-vic-3181">Prahran</a>.

Fresh off being named National Best Italian Restaurant at the 2025 Restaurant &amp; Catering Hostplus Awards for Excellence, ALT continues to solidify its reputation as a quietly confident leader in Melbourne’s dining scene. Lauded for its reinterpretation of Italian pasta through a Korean and Japanese lens, the restaurant has grown into a staple since opening three years ago, and its new Prahran outpost will only deepen its local impact.

“From the very beginning, ALT has been about respect - for tradition, for ingredients, and for the process,” shares Mino Han, ALT’s founder, a Korean-Australian chef whose vision is shaped by cultural duality and craftsmanship.&nbsp;

“We’re not trying to reinvent the wheel, just make something beautifully familiar, feel quietly special,” added Han.

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Positioned at the entrance to Comme Prahran and directly opposite the iconic Prahran Market, the new venue will celebrate the interplay between casual comfort and elevated detail. Designed in collaboration with Rooftop Architecture, the same team behind ALT’s flagship city location, the space will mirror the neighbourhood’s laid-back energy while staying true to the brand’s understated refinement.

Diners can expect a frequently changing menu that takes advantage of the market’s daily produce, along with set menu offerings exclusive to this location. A distinctive chef’s table and open kitchen format are also in the works, allowing guests to experience ALT’s signature intimacy and transparency in a new light.

ALT Prahran won’t replace the original venue; rather, it complements it.

“Our city site is like our heritage bottle; it’ll age gracefully. Prahran is where we’ll play, explore new ingredients, and bring something special to the community,” Mino notes.

[smartcode_project:default project_id=108413 project_image_fid=353584]

For Comme Prahran, a boutique development by Leeka that blends heritage with multi-dimensional wellness, ALT Pasta’s arrival signals a meaningful addition to its vision of cultural connection, food-first living, and local engagement.

“Being part of Comme is more than just opening a second venue. It’s about contributing to a neighbourhood with character, history, and a strong sense of community. That’s something we deeply relate to,” says Mino.

Sustainability and cultural identity are deeply embedded in the ethos of ALT. From ingredient sourcing to interior design, the new location will reflect both environmental mindfulness and a spirit of inclusion, embodying the values of Melbourne’s diverse, forward-thinking culinary scene.

Comme Prahran is scheduled for completion in late 2027, with ALT Pasta expected to be among the first tenancies to open its doors shortly after.

[smartcode_project_cta:default project_id=108413]

National best Italian restaurant ALT Pasta to open at Comme Prahran, bringing refined familiarity to Melbourne’s culinary heart

National BEST Italian restaurant ALT Pasta to open at Comme Prahran

&nbsp;Boutique development and construction firm Ryser has filed plans for its debut apartment building.

Ryser, founded by Jonthan Ryan and Wil Prosser, has sought to develop <a href="https://www.apartments.com.au/new-apartments/sorelle-4a-fern-place-woollahra-nsw-2025">Sorelle</a>, 28 new apartments at 4a Fern Place, Woollahra.

The&nbsp;750 sqm site on the edge of Bondi Junction falls within the Grafton Precinct Heritage Conservation Area, though it is currently vacant and not identified as a contributory item.&nbsp;

<a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> has been commissioned to design Sorelle, creating an eight and a nine-storey building with six apartments dedicated to affordable housing to support essential workers&nbsp;under the NSW Government’s low and mid-rise housing policy.

The dwelling mix includes 12 one-bedroom units, six one-bedroom affordable units, six two-bedroom units, and four three-bedroom residences.<img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="86626941-772d-49c5-8d31-a8e42f44cdcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20st.png?VersionId=tWIzXYX9gD60nP1L3..Z0BFbY5mafb36" />

According to the planning documents submitted to the Woollahra Council, the development responds to the complex interface of heritage fabric and urban infrastructure with two mid-rise residential buildings oriented to the north and designed to capitalise on sweeping views over Sydney Harbour and Bellevue Hill.&nbsp;

“The proposal aims to hero some of the brick detailing of Woollahra, celebrating the existing datums of Fern Place, whilst embracing the strong verticals of the Holy Cross Church and Bondi Junction with a nod to the historic iron works and iron rich soils of the area,” Woods Bagot noted in their Design Report.

&nbsp;

Only three car parking spaces are proposed, alongside 33 bicycle bays, in a move that leverages the site's proximity to Bondi Junction train station, just 400 metres away.

Architecturally, the material palette incorporates Corten steel and face brickwork to reference the site’s industrial past and local geological character. Landscaping features include a communal garden bridging the two buildings at ground level, landscaped setbacks to protect visual privacy, and a small corner park intended to soften the public interface.

<img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="f71766d6-aa14-44df-9bc5-42f91890fd4a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20rear.png?VersionId=uh7u1rJ6NJF5OqyRs9iNJcy6R9ssgaXU" />

Ryser said Sorelle "brings together the best of both worlds, the intimacy of village life with the amenity and luxury of modern design."

The developer said the project marks the first of three developments they will be announcing shortly, a key step in their&nbsp;evolution as a builder-developer delivering meaningful, high quality urban outcomes across Sydney.

The expectation is the Woollahra LGA will become popular for developers with the signal from the NSW Government they will deliver&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw" target="">Sydney</a>’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around&nbsp;<a href="https://www.apartments.com.au/developments/woollahra-nsw-2025" target="">Woollahra</a>&nbsp;and&nbsp;<a href="https://www.apartments.com.au/developments/edgecliff-nsw-2027" target="">Edgecliff</a>&nbsp;stations.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/next-stop-woollahra-train-station-delivering-up-to-10-000-new-homes-in-the-heart-of-sydney">Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney&nbsp;</a>

Joel Robinson

First look: Ryser plans two apartment buildings on Woollahra, Bondi Junction border

ASX-listed developer <a href="https://www.apartments.com.au/developers/cedar-woods" target="">Cedar Woods</a> didn’t miss a beat when the opportunity arose to acquire a prime residential development site in one of Perth’s most popular suburbs. In 2019, the developer secured the former Wembley TAFE site, a 1.4-hectare parcel perfectly positioned on the western edge of <a href="https://www.apartments.com.au/developments/subiaco-wa-6008" target="">Subiaco</a>’s vibrant centre.

The first stage, <a href="https://www.apartments.com.au/new-apartments/incontro-subiaco-133-salvado-road-subiaco-wa-6008">Incontro Townhomes</a>, delivered 41 contemporary homes that embrace the suburb’s unique blend of nature and urban energy. Now, Incontro Apartments continues that story, offering a collection of new residences in a market limited with new residential stock. The rarity of a development in such a prime pocket hasn't been lost on buyers, with more than 60 per cent already sold in the early stages of construction.

[smartcode_project:default project_id=108869 project_image_fid=317909]

Set on the tree-lined Bishop Street, in a quiet pocket within Western Subiaco, Incontro Apartments offers convenient access to several lush parks and recreation spots.&nbsp;

Within the estate is Incontro’s Little Green, a linear park that connects the Incontro townhome precinct with the future apartment building. This peaceful stretch of landscaped parkland features shaded seating and communal spaces for residents to relax and interact close to home.&nbsp;

Less than 400 metres away is find Henderson Park, a perfect spot for morning walks, weekend picnics or casual exercise. Neighbouring Henderson Park is Mabel Talbot Park, home to Jolimont Lake and a playground, while just a little further lies Pat Goodridge Park, offering a large sports field and another playground.&nbsp;

[smartcode_project:default project_id=108869 project_image_fid=325604]

For something closer to home, Subiaco Common provides a peaceful green retreat right on your doorstep - ideal for reading under the trees, walking the dog or relaxing with friends.

Beyond the parks and open spaces, Incontro residents are just moments from everything that makes Subiaco such an enviable place to live.&nbsp;

Down the road is Bishop Street Café, a local favourite for a morning caffeine fix. Subiaco’s Rokeby Road and Hay Street are lined with retailers, cafés, vibrant bars and some of Perth’s most loved dining spots, from long lunches at Refuge Small Bar or Juanita’s, to weekend brunch at Community Coffee Co. or Boucla Café. Add to that a strong sense of local community, regular markets, and the energy of Subiaco Square, and it’s easy to see why Subiaco continues to be one of Perth’s most liveable and in-demand suburbs.

[smartcode_project:default project_id=108869 project_image_fid=325605]

Construction of Incontro Apartments is now underway by <a href="https://www.apartments.com.au/builders/emco-building">EMCO Building</a>. With completion expected in mid-2027, buyers have the chance to join a thriving Subiaco community in the not-too-distant future. &nbsp;

One-bedroom apartments are now sold out, with only a selection of two-bedroom apartments and just three three-bedroom residences remaining. Each features generous layouts, stylish finishes and private balconies to enjoy the leafy outlook that makes this Subiaco address so special. Prices start from $925,000*.

[smartcode_project_cta:default project_id=108869]

Over 60 per cent sold as Incontro Apartments captures Subiaco’s leafy appeal

Financial Scam

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ASIC has commenced civil proceedings in the Federal Court over what the corporate regulator claims is an unregistered Perth based managed investment scheme providing unlicensed financial advice.

The scheme has raised over $11 million for property development purposes.

The proceedings are against Ms Monica Kaur, MKS Property Investments/Developments Pty Ltd (MKS Property), Paradise Property Group Pty Ltd (Paradise Property) as well as against Mr Sadu Singh, Mr Melvin Paul Singh and Ms Stephanie Lee.

“ASIC is concerned that Ms Kaur is providing unlicensed financial advice services and that she, together with the defendants, are involved in promoting and operating an unregistered managed investment scheme,” ASIC advised.

On 16 December 2020, ASIC obtained urgent interim orders:  

- restraining the defendants from removing their assets from Australia, disposing of their property, and freezing monies in their bank accounts including in Singapore; and

- preventing Ms Kaur, Mr Singh and Mr Melvin Singh from leaving Australia.

ASIC alleges the defendants raised at least $11.3 million from around 300 investors during the period March 2017 to September 2020 through MKS Property. 

It is alleged that investors were encouraged to establish a self-managed superannuation fund (SMSF) and invest part or all of their SMSFs or other funds into property investments and developments set up by MKS Property and/or Paradise Property. 

These funds would be pooled together to invest in property development.

“ASIC alleges the defendants used investor funds, at least in part, for their own personal use and to pay returns to investors,” it claims.

On 17 December 2020, ASIC, with the assistance of the AFP, executed search warrants.

The orders are to remain until February 15.

ASIC’s investigation is continuing.
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ASIC alleges the defendants raised at least $11.3 million from around 300 investors during the period March 2017 to September 2020 through MKS Property.

jchancellor

ASIC launch Federal Court proceedings over alleged unlicensed $11.3 million property development scheme

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Rental and accomodation scams have spiked over the COVID-19 hit 2020, with a 76 per cent increase representing over $300,000 scammed so far this year.
According to Scamwatch, there have been 560 reports of rental scams in 2020, which itself is an increase of 56 per cent.
They suggest that many are using tactics related to COVID-19.
These scams target people seeking new rental accommodation by offering fake rental properties to convince people into handing over money or personal information.
“Scammers are offering reduced rents due to COVID-19 and using the government restrictions to trick people into transferring money without inspecting the property,” ACCC deputy commissioner Delia Rickard said.
The ACCC say that the scammer will post advertisements on real estate or classified websites or target people who have posted on social media that they are looking for a room.
After the victim responds, the scammer will request an upfront deposit to secure the property or phish for personal information through a ‘tenant application form’, promising to provide the keys after the payment or information is provided.
The scammer may come up with excuses for further payments and the victim often only realises they have been scammed when the keys don’t arrive and the scammer cuts off contact.
Some scammers will even impersonate real estate agents and organise fake inspections, victims will then arrive to discover the property doesn’t exist or is currently occupied.
“The loss of personal information through rental scams is becoming more common, with scammers requesting copies of identity documents such as passports, bank statements or payslips,” Ms Rickard said.
“Once a scammer has your personal information you are at risk of being targeted by further scams or identity theft.”
“Many people are also experiencing financial difficulties due to the pandemic and the financial impact of falling victim to a scam can be devastating,” Ms Rickard said.
People aged 25-34 reported the most rental scams so far in 2020, and the most reports came from NSW, VIC and the ACT.
“Try to view a property in person before paying any bond or rent money to landlords or real estate agents,” Ms Rickard said.  
“In areas of Victoria under COVID-19 level 4 restrictions this is not possible, but you can help protect yourself by doing an online search to confirm the property exists and, if dealing with an agent, checking that the agent you are dealing with is licensed.”
“Scammers often rely on email communications to avoid identification, do an independent search for a phone number and speak to the property manager over the phone or arrange a meeting in person,” Ms Rickard said.  
“Before making any payments ensure you are dealing with the licensed agent, if a scammer has your details they may impersonate a real estate agent and attempt to ‘follow-up’ requesting money after an inspection.”
 
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jrobinson-rf4aSBido9

Rental and accomodation scams prey $300,000 from Aussies

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Former financial adviser, Gabriel Nakhl, has been sentenced to 10 years imprisonment for engaging in dishonest conduct
He was convicted on eight charges (<a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2018-releases/18-178mr-former-financial-adviser-convicted-for-dishonest-conduct/" target="_blank">18-178MR</a>), brought by ASIC, of engaging in dishonest conduct with investor funds, after being found guilty in the District Court of New South Wales.
According to ASIC, the conduct affected 12 investors while Mr Nakhl was a representative of Australian Financial Services Limited (in liquidation) and as sole director of SydFA Pty Ltd (deregistered).
The court found Mr Nakhl advised clients to set up self-managed superannuation funds and to invest their superannuation and other funds in products such as shares, managed funds and high interest rate bank accounts.
Rather than investing the 12 investors’ funds in these products, Mr Nakhl used these funds 'as he pleased' and for his own purposes.
Mr Nakhl then lied to the investors, telling them that he had invested their funds in accordance with his advice and that their investments were performing well.
Mr Nakhl also tried to cover up his wrongdoing by having these 12 investors sign documents that supposedly authorised Mr Nakhl to use the funds in the way he did.
These 12 investors allowed Mr Nakhl to invest approximately $6.7 million on their behalf. Mr Nakhl lost approximately $5.1 million of these invested funds.
'Mr Nakhl deliberately misled his clients and used their savings as he pleased. Clients should be able to trust their financial advisers. In this case, Mr Nakhl dishonestly and deliberately breached his clients’ trust. ASIC welcomes the sentencing decision handed down today,' said ASIC Commissioner Sean Hughes.
ASIC obtained orders against Mr Nakhl in February 2013, freezing his assets (<a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2013-releases/13-023mr-asic-obtains-court-orders-against-sydney-financial-adviser/" target="_blank">13-023MR</a>). In April 2013, the amounts frozen in interim orders against Mr Nakhl were approximately $7.7 million.
In November 2013, Mr Nakhl was permanently prevented from providing financial services. He is also not allowed to manage a company until 2028 (<a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2013-releases/13-313mr-sydney-adviser-removed-from-financial-services/" target="_blank">13-313MR</a>).  
 
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j.ballantyne1990-6AQqhLzZaK

Former financial adviser Gabriel Nakhl sentenced to 10 years in jail: ASIC

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A waterfront property in Sanctuary Cove in the Gold Coast belonging to failed Indian group Pearls, which was involved in a $10 billion Ponzi scheme, has been on the market for more than a year a deal for more than $4 million fell through. 
The 1019-20 Edgecliff Drive house was bought for $4.95 million in 2011, a year after Pearls picked up the Sheraton Mirage Hotel on the Southport Spit for $62.5 million.
The Sheraton was sold in January for $140 million and last year Pearls’ major Australian vehicle, which had been renamed the Mii group, exited its interest in a beachfront Surfers Paradise site, the Gold Coast Bulletin reported.
Last year, a caveat by the Queensland government temporarily blocked the sale of the Gold Coast Sheraton Mirage resort to help class action lawyers seeking to take control of it in the interests of Indian investors.
In 2009, before its collapse, India’s $10 billion failed Pearls Ponzi scheme brought more than $100 million of the scheme’s money to Australia, buying the Sheraton Mirage.
Pearls was spruiked in India by Australian cricketer Brett Lee, who was paid $300,000 for his services. It promised investors huge ­returns if they invested in land parcels across India.
It appears the net proceeds of the Pearls sales, including those from the Sanctuary Cove house, ultimately will end up with the Indian government for disbursement to investors caught up in the Ponzi scheme.
India’s financial markets watchdog, the Securities and Exchange Board of India, has been handling the selloff of Pearls assets, which in India have included a swag of properties and 79 luxury cars.
Last May, the fully-furnished Sanctuary Cove house didn’t sell at auction. It drew an unsuccessful top bid of $4.6 million.
Later, a $5.5 million tag was put on the house.
The agents marketing the home are tight-lipped but word is that multiple offers have followed from buyers wanting to tap into a rising Sanctuary Cove market but those offers haven’t found favour with SEBI.
The house is owned by Pearls Infrastructure Projects.
The five-bedroom house, bought for $3.7 million, has a lift, parking for six cars, and a jetty.
Pearls Infrastructure later increased the size of the land-holding to 1,700 sqm by spending $1.25 million on an adjoining lot and created a waterfront entertaining area, complete with marquee.
The Gold Coast Bulletin reported among the Pearls-related parties known to have used the Cove house included Barinda Kaur, daughter of Pearls founder Nirmal Singh Bhangoo.
Four years ago Barinda was involved in a legal wrangle after a company she owned failed to settle the $7 million purchase of the 64 Ferny Avenue office tower in Surfers Paradise.
The building subsequently sold to Chinese investors for $6.187 million.
Barinda’s father is facing charges over the Pearls collapse and was languishing in an Indian jail until he was transferred last year to a hospital.
He allegedly duped more than five million investors when the Pearls group promised them agricultural plots and healthy returns on their funds.
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Indian ponzi group Pearls' Gold Coast waterfront house waits for buyer

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A Gold Coast developer, who also runs a strip club in Hobart, has been arrested in connection with an alleged Ponzi scam.
Bradley Keith Silver of Hobart has been charged with fraud offences totalling $2.32 million following an investigation by market watchdog, the Australian Securities and Investment Commission.
Silver was arrested by the Australian Federal Police on July 20 and brought before the Brisbane Magistrates Court the same day. 
The ASIC has charged Silver with seven counts of fraud under s408C of the Queensland Criminal Code, which carry a maximum prison term of 12 years and six counts of dishonest use of his position as a director under s184 of the Corporations Act (maximum sentence of imprisonment of five years).
Silver was released on conditional bail to appear in the Brisbane Magistrates Court on 25 August, the ASIC said in a media release. His bail conditions include that he surrender his passport. 
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
Between 2008 and 2010, Silver was the director of a Gold Coast property development company known as Capital Growth International Club Pty Ltd (CGIC) and associated with a company known as All About Property Developments Pty Ltd (AAPD). 
In February 2011, the companies were placed into liquidation owing investors about $9 million, the ASIC said.
The company, where unconventional “low-doc” loans were allegedly offered to clients as old as 98, was the subject of a Senate economics committee’s inquiry into bank practices in 2012 involving Westpac’s former Pacific Fair home lending manager David St Pierre.
The customers were promised "safe" returns of up to 20 per cent a year to invest in CGIC.
Silver also operates Hobart’s Men’s Galley and Launceston’s Show Girls, according to The Mercury. 
 
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jonathanchancellor-7SQnKwU6yx

Developer charged with alleged Gold Coast ponzi scam

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Nearly $30 million was paid to 1,347 customers who suffered losses after they were misled by financial advisers, while the securities watchdog banned 26 advisers for misconduct as of December 2016. 
These are the findings from a review by the Australian Securities and Investment Commission of how Australia's largest financial advice firms have dealt with past poor advice and non­-compliant advisers, including how these firms have dealt with affected customers. 
The review, which forms part of ASIC’s broader Wealth Management Project, was focussed on the conduct of the financial advice arms of AMP, ANZ, CBA, NAB and Westpac.
ASIC deputy chairman Peter Kell said the report, “sets out the significant work that has been done by the major financial advice institutions to implement large­-scale review and remediation programs to identify and remediate customers impacted by poor advice given in the past”. 
The review looked at: 
<ul>
<li>how the firms identified and dealt with non­compliant conduct by their advisers between 1 January 2009 and 30 June 2015</li>
<li>the development and implementation by the firms of large­-scale review and remediation frameworks to remediate customers impacted by non­compliant advice, and </li>
<li>the processes used to monitor and supervise the firms' advisers, focussing on background and reference ­checking, the adviser audit process and use of data analytics. </li>
</ul>
ASIC Report 515 Financial advice: Review of how large institutions oversee their advisers (REP 515) covers the key findings of this review.
He said that while financial advice institutions had done much to improve their practices and compliance, more work was needed to re­build consumer trust in the financial advice industry.
ASIC has identified a number of areas of concern where further improvements need to be made, including: 
<ul>
<li>failure to notify ASIC about serious non­compliance concerns regarding adviser conduct</li>
<li>significant delays between the institution first becoming aware of the misconduct and reporting it to ASIC</li>
<li>inadequate background and reference-­checking processes, and</li>
<li>inadequate audit processes to assess whether the advice complied with the 'best interest' duty and other obligations. </li>
</ul>
“It is critical that customers are able to get financial advice they can trust. ASIC expects internal processes to support core values of putting the customer first and where there are failings, for advice firms to act quickly to provide a response in the interests of their customers. This is a message for both large and small advice firms,” Kell said. 
“Strengthening breach reporting requirements will be an important issue in the current review of ASIC's enforcement powers announced by Government in October 2016,” he said. 
The Australian Bankers' Association's recently announced a Reference Checking and Information Sharing Protocol, that takes a more rigorous approach to checking and provision of adviser references. Financial institutions regularly use data analytics now to detect irregularities early and take action.
 
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ASIC says $30 million paid to customers misled by wrong advice in its review of financial institutions

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A woman whose Canberra house was stolen by overseas scammers has sued the ACT government to recoup her money.
The international fraudsters pocketed $430,000 when they sold the four-bedroom Canberra house in 2014 in a sophisticated scam spanning several months and countries, including South Africa, Australia and Indonesia.
The owner lived in South Africa at the time. 
The ACT Supreme Court has been told the thieves went to elaborate lengths to steal the MacGregor home, conning real estate agents, lawyers and a bank.
The fraudsters are yet to be caught two years after the fraud came to light after its 2014 sale.
"I have never given instructions to anyone to sell the property on my behalf. I never had any intention of selling the property as I wanted to keep it for as long as I could and then pass it on to my children," the victim said in an affidavit obtained by Fairfax Media.
The fraud stripped the victim of any right to the property, which was legally transferred to the innocent purchaser couple.
Registered real estate purchases made in good faith are protected by the ACT Land Titles Act.
The woman is now suing the ACT government for statutory compensation, seeking damages for the property value, stamp duty and legal costs along with lost rental income.
The government disagrees that she is entitled to recover damages from the government.
"The plaintiff has a remedy against the fraudster under section 154 of the Act and must first take action against him or her before she may take action against the defendant," the government said in its submission.
Associate Judge David Mossop has reserved his decision.
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International scam victim sues ACT Government after home sale

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Consumer regulators across Australia are launching a national video campaign against spruikers, who run get-rich-quick seminars.
<a href="https://www.youtube.com/v/srb0wYnyyWI" target="_blank">The national campaign</a>, has been promoted by the likes of Consumer Protection WA.
Its director of property industries Stephen Meahger said spruikers must comply with Australian consumer law.
"We always are concerned in any spruiking when you see a big, glossy ad or a full page ad in the paper that says that it's a free seminar," Mr Meahger told the ABC.
WA spruikers often teach their students how to set up rent-to-buy housing deals, which offers people who do not have a home deposit the option of purchasing a home after paying above-market rent for a set period of time.
Miles Larbey from the Australian Securities and Investments Commission (ASIC) said unscrupulous operators had been put on notice.
"ASIC assesses every report of misconduct it receives about such operators and there are serious consequences for property spruikers who break the law by providing unlicensed financial or credit advice," he said.
"ASIC strongly supports the campaign warning investors about property spruikers."
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