Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Foreign Buyers

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The receivership sale of Heritage Golf and Country Club in the Yarra Valley’s Chirnside Park, north-east of Melbourne, has secured $17.8 million, just over half its over-inflated $30 million book value.
The two golf course, 230 hectare property has been bought by HGC Properties, a company directed by Melbourne accountant Sam Cimino, with its only shareholder being, Fly Group Limited, an entity without any directorial paperwork which is understood to have origins in China.
Scott Callow and Mark Wizel of CBRE Hotels negotiated the sale on behalf of the receivers PKF Lawler in conjunction with Michael Hede of Knight Frank. 
"We are certainly in a different cycle of commercial property when golf courses are quickly selling," Mark Wizel told Property Observer.
"Banks have an increased preparedness to lend on non-core assets.
"There is Chinese buying appetite for leisure property, not just the residential projects that have been the dominant desire to date," Mark Wizel said.
The Jack Nicklaus-designed St John golf course ranks among the best golf courses in Australia. The property is located on the Yarra River near Chirnside Park and has two 18 hole golf courses (the St John Course, south side designed by Jack Nicklaus in 1996) along with the Henley Course, on its north side designed by Tony Cashmore in 2002.
The property included townhouse development land and residential lots (STCA). 
Heritage Golf &amp; Country Club has a strong established membership base with 1,394 members. It hosted the Victorian PGA Tournament in February this year. 
There were about 47,500 golf rounds by played annually.
<a href="https://cbre.realcommercial.com.au/property-land+development-vic-chirnside+park-501095227" target="_blank">Heritage Golf and Country Club</a> was under the control of the Melbourne businessman and property developer Guo Zhao “Sunny” Sun.
Mr Sun acquired the golf estate around 2011 at just short of $15 million. But he subsequently became embroiled in a Victorian Supreme Court dispute with business partner Wang Hua, China’s 790th richest person, over control of the country club, as reported by Fairfax Media.
A court ordered followed that Heritage Golf and Country Club Pty Ltd be wound-up with the creditors owed $13.8 million, according to a News Ltd report which suggested one creditor, the Alter family, through its Austpac Funds Management, unsuccessfully proposed a deed of company arrangement.
Sun had purchased the property from receivers to the Letten Schemes, a series of property investment funds established by Mark Letten that fell apart during the global financial crisis.
Wang Hua and Mr Sun founded residential development company Kingsland Group, which has built small-scale townhouse and apartment developments in Melbourne since around 2003.
Wang Hua, from the Jeshing Group, was <a href="/news/offshore-buyer-secures-16-st-georges-road-toorak-from-peter-devitt-in-circa-20-million-sale">the mystery buyer who spent $18.58 million last year</a> on the Toorak estate of the director of construction company L.U. Simon Peter Devitt through Kay &amp; Burton agent Ross Savas (pictured below), in the name of his wife, Xiao "Kylie" Yan Bao, who received an Australian visa in 2001. She had bought a mansion on Irving Road, Toorak for $3,399,000 in 2003.
<img src="/images/stories/flexicontent/l_toorak-sept-23-breakout.jpg" alt="Offshore buyer secures 16 St Georges Road, Toorak from Peter Devitt in circa $20 million sale">
Private homes overlooking the course have been sold over the years, with Fletchers currently having a three bedroom townhouse offering on Turnberry Lane (pictured below). <a href="https://www.1turnberrylanechirnsidepark.com" target="_blank">It had $1.3 million hopes</a>, after being passed in at $1.05 million at auction last month. Its vendor is not connected to the golf course ownership.
<img src="/images/2014/04/23/chirnside%20april%2023%20one.jpg" alt="">
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jchancellor-FAypfDUnLy

Jack Nicklaus-designed St John course at Heritage Golf and Country Club, Chirnside Park sold

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National Australia Bank (NAB) group chief economist, Alan Oster, analysing the NAB Residential Property Index, found that foreign buyers’ demand for new and established property are at all-time highs.
The amount recorded by the index's research points to a surge in activity in both the new and established property markets from foreign buyers in 2014’s first quarter results.
“In terms of total demand, the survey suggests that foreign buyers now account for 13.9% of total new property and 9.5% of existing property demand,” Oster said. Established demand is even expected to grow a little stronger over the coming 12 months.
Foreign investment is expected to assist propping up property prices, although capital gains might start to stabilise.
“While sustained population growth, supply issues and foreign buying activity will put a floor under house prices, unemployment and the economy will limit gains,” he said.
ESTABLISHED PROPERTY UPDATE
<img src="/images/2014/04/16/grpah%20april%2016%20one.png" alt="">
Source: NAB Quarterly Australian Residential Property Survey: Q1 2014
Foreign buyers still appear to have their sights on New South Wales, with their involvement rising from 2013’s last quarter result of 7.6% to a record high of 12.7%.
In Victoria and Queensland there have been increases as well, with involvement in the market from foreign buyers increasing to 10% in Victoria and in Queensland to 9%.
This lines up fairly well with local investor activity, driving up to 24.6% in Victoria, and 26.7% in Queensland. In New South Wales, there was, however, a pull back to 27.3%.
NEW PROPERTY UPDATE
<img src="/images/2014/04/16/grpah-april-16-two.jpg" alt="">
Source: NAB Quarterly Australian Residential Property Survey: Q1 2014
Foreign buying in the new housing market has reached an all time high of 13.9% of national demand.
There is especially prominent activity in Queensland, where 24.4% of the demand came from foreign buyers.
These increases align with the released figured from the <a href="/expert-insights/buying/demand-from-chinese-speaking-investors-is-up-but-thats-not-the-whole-story">Foreign Investment Review Board that have been under much discussion</a>.
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jduke-EHk3XBmHkn

Foreign buyers at record 9.5% of established property demand: NAB's Alan Oster

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A home sales contract to an offshore Chinese buyer is no guarantee of yielding a settlement.
A post-Christmas $6.15 million sale to offshore Chinese buyers of a prestige Rose Bay mansion has failed to proceed.
Property Observer gathers the buyers defaulted on their intended acquisition of <a href="https://doublebay.ljhooker.com.au/MDDF93" target="_blank">1 Cecil Road</a>, with the buyers attributing the changed circumstance to a failure to secure Chinese government approval in the transfer of the required funds.
The five bedroom Rose Bay mansion on a lucky 1,088 square metre block was relisted for auction this week, selling shortly after it was passed in at $5.65 million.
The LJ Hooker Doube Bay agent Alain Waitsman secured a slightly higher undisclosed price in post-auction negotiations after its auction at Cooley Auctions.
The recent sale collapse comes at a time when vendor interest is strong in certain suburbs buoyed by the Significant Investor Visa (SIV) scheme, the so-called golden ticket which gives residency to wealthy foreign nationals who invest $5 million in government bonds or eligible ­managed funds.
The Australian Financial Review noted recently the slow-starting scheme will hit $1 billion this month with a further $2.6 billion worth of applications lodged.
The Department of Immigration and Border Protection (DIBP) issued a further 30 visas during March.
It took the total number of visas issued since late 2012 to 174, a $870 million tally. The appeal of the SIV program for Australian property vendors is that they visa recipients inevitably buy a home. 
Wealthy Chinese nationals have made up 85% of visas granted. The figures show Sydney has been trumped by Melbourne as the investment location destination of successful applicants with 47% in Victoria and 37% in NSW.
The offshore Chinese applications make up 91% of the 772 applications that have been lodged to date.
The scheme requires that a minimum of $1.5 million of the required $5 million be invested in NSW Waratah Bonds was boosted by an expansion of the ­qualifying managed fund investments late last year to include derivates, annuities, mortgages and interests in unregulated managed funds.
The Australian Private Equity and Venture Capital Association Limited (AVCAL) recently sought an even broader program in its submission to the Department of Immigration and Border Protection review into the SIV program with the suggestion offshore investors be allowed to allocate capital to venture capital and private equity opportunities.
 
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Chinese buyer defaults on Rose Bay prestige offering amid SIV surge

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The Chase, the historic trophy property at Sutton Forest, has been bought for $5.8 million by the Malaysian horse racing tycoon Teo Ah Khing.
The five-bedroom 1880s house with a reception hall, formal sitting room and dining room, billiard room and living room is on 40 hectares in the NSW Southern Highlands.
Surrounded by sweeping lawns, hedged and walled gardens and exotic trees, <a href="https://www.realestate.com.au/property-other-nsw-sutton+forest-7594107" target="_blank">The Chase</a> homestead comes with a cottage, stables, barn and cattle yards as well as a pool and tennis court.
The restored and extended house comes with 3.35-metre-high Wunderlich ceilings.
It has 600 square metres of internal living space after extensions in the early 1980s. 
Teo Ah Khing, who linked up with Coolmore to spend $2 million-plus on yearlings by Fastnet Rock for the China Horse Club, was the big new comer at the 2013 Easter Inglis yearling sales..
It was sold by John Starr, a real estate franchise tsar of Sydney's western suburbs, through Bill Carpenter from W. Mcl. Carpenter and Associates earlier this year with the buyer details recently revealed on settlement. John Starr had bought it for $5.25 million from the retired Compaq executive Ian Penman, turned listed property website chief executive, and his wife, Ayesha.
The Penman's had bought it from insurance industry operative Rob Porter in 1996 for $2.6 million.
It had sold at $2.55 million in 1991.
John Starr, who has downsized to a smaller property in the area, sold it to a company associated with the Teo family, who have plans to use the estate’s stables, yards and barn to raise broodmares on the farm.
Teo heads <a href="https://www.desertstarholdings.com" target="_blank">Desert Star</a>, the parent company of the China Horse Club whose horse, Zululand became the first group winner for The China Horse Club in Australia in its second year of racing in the region with the win in the G2 VRC Sires Produce Stakes (1400 metres) at Flemington Racecourse in Melbourne in March.
Teo Ah Khing has a design consultancy TAK Design Consultants which fulfilled the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, by designing and completing the iconic Meydan Racecourse for the 2010 Dubai World Cup. 
It has made its presence felt in the global equine affairs with another landmark project – Tianjin Equine Culture City (TECC) – in China. The CHC Clubhouse won the 5-star award in the International Property Awards for Asia Pacific Region in May last year.
Teo has also brought together the global leaders of horse racing in France and Ireland, as partners to re-introduce the sport of horseracing in China. 
Another significant Southern Highlands equine property Belle Cheval, previously known as Longview at Wildes Meadow, remains listed for sale. 
Dellarose Swanson-Baevski has a $4.5 million asking price on <a href="https://www.andrewhearn.com.au/listings/residential-129854-lifestyle/" target="_blank">the 30-hectare Wildes Meadow holding</a>. It's one of the best-equipped equestrian properties in the Highlands, with an eight-bay stable, heated feed room and a floodlit outdoor dressage arena. It was initially listed with $5 million hopes. It was bought in 2007 for $4.45 million by Dellarose Swanson-Baevski who has since secured the property fully from Michael Baevski, with its now-demolished 800 square metre house built by Ayesha Penman.
It was then known as Longview, the flagship development for the Penman's development company Vistatop, designed as the sister property for The Chase in Sutton Forest, by Ayesha Penman and husband Ian, who had established Compaq in Australia and New Zealand.
The five-bedroom house with a separate billiard pavilion is on a 30-hectare property had been bought from green thumb Don Burke in 2003.
Its being marketed by Andrew Hearn as "arguably the most panoramic uninterrupted views in the Southern Highlands extend from this incredible horse property in Wildes Meadow."
"The horse facilities are fabulous with irrigated and floodlit 70 metres x 30 metres dressage arena with soil-tex fabric and sand surface.
"There are 23 Day yards all post and rail with auto waterers, and divided by laneway system. 
"There is a eight bay stable complex with adjustable walls to suit the size and needs of the horse, a magnificent tack and wash house with ruba-roc surface throughout heated rug and tack rooms as well as another kitchen and laundry area for those colder highlands mornings," Andrew Hearn's marketing says.
There is also a fully equipped level jump area.
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Malaysian tycoon Teo Ah Khing - from China Horse Club - snaps up historic The Chase at Sutton Forest

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Shanghai-based Greenland Group are behind <a href="https://www.greenlandcentre.com.au" target="_blank">Greenland Centre</a>, the tallest residential tower in Sydney and their first foray into the heart of the CBD, and they are set to launch their second stage tomorrow with expected significant Chinese interest.
It seems Chinese buyers are, unsurprisingly, being actively marketed to - with the entire site, at a click of a button, translatable to Chinese, and a similar tower, Wuhan Greenland Centre, under construction in Wuhan, China, from the same developer. Marketing efforts are expected to be rolled out in Shanghai, Singapore and Hong Kong. In fact, Wuhan's building has also been reported overseas as likely to be the third tallest building in China, and the fourth tallest in the world at around 600 metres, making them no stranger to heading skyward.
<img src="/images/2014/04/11/greenland-april-11-one.jpg" alt="">
Above: Screenshot of the Greenland Centre Sydney website, translated into Chinese
The $680 million development’s Stage 2 will see 200 apartments and penthouses released to the market, adding to the <a href="/expert-insights/buying/greenland-centre-launches-second-sales-stage">300 released and sold in Stage 1 in a sellout</a>.
Greenland Centre, at 115 Bathurst Street, looks to include new technology to re-use the existing structure and rejuvenate the building, with a design from BVN Donovan Hill and Woods Bagot.
It includes views to the ocean, mountains, across the Harbour and Hyde Park.
There will also be commercial and retail spaces at the site, as well as a boutique hotel with a swimming pool, roof terrace and concierge. The tower residents will also be able to use the roof terrace.
The public launch of Stage 2 is today, 12 April, with the entire development set for completion in late-2017.
Half of the apartments will have parking spaces.
In Stage 2 it’s yet to be confirmed how many of each type of property will be available, but the range will include one-, two- and three-bedroom apartments, studios and penthouses.
Studios range from $595,000 upwards, with an unconfirmed internal size. One-bedroom apartments, from 38 to 66 square metres, also range from $595,000 upwards. Two-bedroom apartments, from 70 to 91 square metres, the prices are set to be from $1.1 million, and three-bedroom apartments, at 105 to 144 square metres, will be from $2.175 million.
An opportunity to buy the highest penthouse in the area, with the entire building estimated to be 235 metres tall, may just be on the tickets tomorrow in what will prove to be a coveted position. However, you'll need to pay dearly for the property. Penthouse prices, despite the Saturday launch date, are still to be confirmed, estimated at up to $10 million each. In the Stage 1 release, Bloomberg reported that the most expensive sale was a three-bedroom unit on the 55th floor for $3.7 million, that sold to a Chinese buyer living in Australia. Whether they have citizenship was not mentioned. Sub-penthouses are also available.
Next to the site, 339 Pitt Street, the former Sydney Water head office site, is also slated to be turned into a hotel, according to<a href="https://development.cityofsydney.nsw.gov.au/Datasource/DANotifications/1128322_049.pdf" target="_blank"> the Preliminary Construction Management Plan</a>. It is on the state heritage council register of NSW, and the plans suggest "adaptive reuse" of the building and remedial work to the facade. Building works are suggested to maintain hours from 7am to 7pm Monday to Friday and 7am to 5pm on Saturdays.
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Opportunity to buy the highest penthouse in Sydney

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Many residential property markets around Australia are currently in a ‘hot’ phase of their cycles. By that, I mean that these markets are in the maximum peak property values of their current market cycles.
It is a great time for sellers but a tough time for buyers.
Buyers in markets like Sydney, Brisbane, Perth and many regional centres are facing tough times right now. There are a number of contributing factors as to why these markets are so hot; not limited to the following:
<ul>
<li>A record low interest rate environment is encouraging some first time buyers in to the market who otherwise would not have been able to afford to.</li>
<li>First time Australian citizen investors, enticed by the low interest rates on offer and an increase in construction upstarts for off the plan investment purchases, are buying up properties at very high rates.</li>
<li>In regard to non-Australian-citizen/foreign investors, the introduction of relaxed government policy as well as incentives offered for certain degrees and levels of foreign investment in Australia has made for a property buying frenzy from foreign investors.</li>
<li>The ever-increasing urbanisation of Australia’s population is resulting in more people moving to capital cities as well as established regional cities also. This in turn adds demand.</li>
<li>The general ‘FOMO’ effect (fear of missing out) as a result of the above factors adds a heightened sense of urgency to another property-seeking group, mainly upgraders and second or third time property buyers.</li>
</ul>
All of this of course adds up to high asking prices in many markets. However, initial high buying prices isn’t the only challenge that occupants and residents of these hot markets will face. Different groups will be affected in these hot markets, and in different ways:
First home owners
Despite low interest rates on offer, first home buyers remain consistently out-bid and out-priced within their desired suburbs. The other worrying factor for these buyers is that even if they stretch to their absolute maximum buy rate to secure a property now, they are doing so in a very low interest rate environment.
If first home owners are stretched to their limits now, how they will cope when interest rates fluctuate back up to higher levels over the next 24 months?
I am not of the view that a massive property bubble is forming, however I don’t deny that in low middle income areas where first home buyer volumes are higher, should a significant volume of them fall under mortgage stress over the next couple of years property values in those areas may stagnate for several more years to come.
Australian-based investors
I use the phrase ‘Australian-based’ for this investor group to encompass both Australian citizens who naturalised in this country for most or all of their lives, as well as those who are newer arrivals to Australia but call Australia home (in other words, they live here full-time).
Investors who have purchased residential property in hot markets are no different to those who seek out properties in emerging or undervalued markets; all interested only in the return they get on their investment. This means that providing that either strong capital growth potential, or high rental return, are evidenced in a property purchase, they will consider a property in any market climate – hot or cold.
The problem is hot property markets mean that capital growth for that market/post code is usually at its maximum. That means that for investors seeking immediate capital growth, this will be unlikely for several more years because the property is at its peak right now.
<blockquote>
The consequences of suburb specific saturation by investors have not yet been truly seen.
</blockquote>
This means that if an investor in a hot market is truly a savvy buyer, versus a poorly-researched, ill-advised wannabe investor, they must be seeking 'hot’ (and immediate) rental return over capital growth.
That  paints an alarming picture for overall housing affordability in these markets. Investor owned properties must be charging very high rents to occupants of their properties right now to ensure their investment isn’t a massive loss-maker for them. That means that not only are property buying rates high in hot areas, but so are rents. Overall affordability to live in these cities  becomes poorer.
Non-Australian and foreign investors
Similar factors exist for foreign investors in comparison to local ones.
However, there is another factor at play. Recent investor profile data research from Australian Property Investor magazine suggests that local investors tend to buy in the same city (if not in a nearby suburb) to where they live. Foreign investors typically purchase, site-unseen, in markets that they have never lived in, nor even (in many instances) have visited.
I guess the missing ingredient here is the ‘sense of community’ that mass-property buying, condensed into a small group of ‘favoured’ suburbs or areas, erodes and the effect this has on an area. Some suburbs can become at risk of being investor ghettos whereby the ratio of owner-occupier to investor-owned property is so high that a genuine sense of community within that area becomes quickly eroded.
<blockquote>
Investors should look to emerging markets where owner-occupier to renter ratios are much more balanced.
</blockquote>
This then changes the dynamic of that entire area; eroding the gentrification developed over decades, in the space of just a decade or so of heavy investor-buying. Of course, it is not the fault of (nor should the blame be pointed at) the foreign investors themselves; but rather local and state councils, policy-makers and governments whose planning departments allow this occur, as well as property developers who exclusively market to foreign investors from the moment the first block foundation concrete is poured, en-mass. 
I draw a parallel here to post-World War Two Melbourne, where ‘outrage’ existed over the Italians buying out entire suburbs within just a couple of years after the war. The difference however, is that these communities owner-occupied the areas, made a great contribution to the ‘sense of community’ those areas had, and in hindsight were one of the major market driving factors that has given these suburbs the wonderful identity (and desirability) they have today. Yes, some areas were almost entirely ‘foreigner-owned’, but these people became locals and celebrated their communities.
Fast forward to 2014 and there is a lot of uncertainty around the concentrated foreign-investor buyouts of entire suburbs. This is because investors are not living in the suburbs themselves. They do not have say a vested interest in ensuring the local park lands are maintained, or that roads don’t become too congested, or that units and houses are not occupied by too many people, and so on.
It is no doubt clear that hot property markets offer rewards and benefits for some property owners. However, the implications of investor buying extend beyond just bumping the rental and purchase prices up. The consequences of suburb specific saturation by investors have not yet been truly seen. Ever the optimist as I am, I remain doubtful that investors buying in hot areas, at a grand scale, will be a positive thing for those areas.
Investors should look to emerging markets where owner-occupier to renter ratios are much more balanced.
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Investor saturation in suburb hotspots will have consequences for residents and investors

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The purchase of domestic real estate, and in particular residential real estate, is a topic that frequently attracts a lot of attention.
That’s nothing new; some of the same ‘concerns’ we hear and read about today have all been aired before. At various times and across different markets we have, for instance, seen big in-flows of money from Japan and the Middle East.
However offshore investment into our housing market always tends to be a touchy subject. I think that we should not see this as threatening or abnormal and as far as new projects are concerned, the impact of these buyers needs to be seen in the greater context of the total market.
It is unfortunate that currently any negatives surrounding this debate are being fuelled by a number of factors. Key among these is the reality that the inflow of funds is not aligned with our general market conditions. So as we see prices increase, and in some markets this may be impacting first time buyers, some blame is being attributed to offshore buyers. But there is also a clear benefit from the fact that demand in total is now driving a big increase in construction activity, and that is at a time when the local economy needs that stimulus.
Key motivations
Part of the reality of this trend is the fact that across Asia and in particular from China there is a weight of money available for investment. some of that money is regardless of any policy settings, naturally going to flow into our residential property. But are the key motivations of buyers necessarily any foundation for concern? I suggest that these buyers are in the main driven by motivations that we are all familiar with.
Accepting that almost all markets now operate on a global basis, offshore buyers will be motivated by quality of life, economic stability, good infrastructure – this includes both hard infrastructure like roads and everyday services such as power and water, but also soft infrastructure and a big item there is education and medical facilities. Lastly offshore buyers are attracted by political stability. A quick tally would clearly give Australia a big tick on all of these items and so it’s a good and appealing place to call home.
<blockquote>
There is clear benefit from the fact that housing demand is now driving a big increase in construction activity, and that is at a time when the local economy needs that stimulus.
</blockquote>
We also now have in Australia inter-generational changes that are reinforcing family ties and these are a big influence. it’s worth keeping in mind that we have seen this trend before. In particular as post-World War Two and post Vietnam brought about new waves of population growth.
I think that it’s easy to identify with these motivations, and also like most of us, it is the stability of the Australian lifestyle that is a strong appeal.
SENATE REVIEW
However now, and somewhat predictably, The Treasurer has asked the Senate <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/House_of_Representatives_Committees?url=economics/index.htm" target="_blank">House Standing Committee on Economics</a> to inquire into and report on Australia’s foreign investment policy as it applies to residential real estate.
A key starting point is the principle of Australia’s foreign investment policy, as it applies to residential property, is that the investment should increase Australia’s housing stock and as such this includes new developments that aim to deliver benefits to the local building industry and its suppliers. Which is now starting to happen.
Off-shore or foreign investors cannot generally buy established homes; however, temporary residents can apply to purchase one established dwelling to use as their residence while in Australia.
Despite these conditions and in view of some of the concerns already outlined the Committee has been asked to examine:
<ul>
<li>The economic benefits of foreign investment in residential property;</li>
<li>Whether such foreign investment is directly increasing the supply of new housing and bringing benefits to the local building industry and its suppliers;</li>
<li>How Australia’s foreign investment framework compares with international experience; and</li>
<li>Whether the administration of Australia’s foreign investment policy relating to residential property can be enhanced.</li>
</ul>
This looks like a quick review with the Committee’s report due in early October 2014.
LET’S NOT FORGET OTHER POLICIES
If as it appears the Senate Review is partly in response to helping keep homes affordable in particular for the FHB market, then it would also be an ideal time for government to look at how much government charges and red-tape adds to the cost of a home.
Stamp duty for example is levied on the GST already built into the cost of a new home, and development delays almost defy reason without any real benefits.
Could all levels of government be more engaged in creating a positive environment for new housing by direct leadership and by ensuring a more collaborative, results focused view among decision makers that directly or indirectly impacts housing supply and costs.
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pchittenden-eLqUUC8TWW

Offshore buyers are here to stay

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With Sydney’s median price now sitting at around $720,000 according to RPData's latest weekly report, Property Observer takes a look at just what you can buy for that price around the world.
RE/MAX Global now offers a search function which allows buyers to search for international properties based on how much they would like to spend.
“Australians don’t only buy in Australia, and New Zealanders don’t only buy in New Zealand,” he said, “and for our property sellers, this search tool is a tremendous feature in attracting buyers from around the world to their properties," said RE/MAX Australia and RE/MAX New Zealand managing director Michael Davoren.
Century21 offers a similar service on <a href="https://www.century21global.com/" target="_blank">its website</a>.
So what exactly can you buy for $720,000?
<ul>
<li>
<a href="https://global.remax.com/368128_3116" target="_blank">Nanaimo, British Columbia, Canada</a>: A$686,423
</li>
</ul>
<img src="/images/2014/04/04/british%20columbia%20aprtil%204%20one.jpg" alt="">
This four bedroom, three bathroom house (pictured above) in the waterfront city of Nanaimo is set on about 2 acres of land. The huge front windows give the home mountain views, and the home also comes with a hot tub and a pool of substantial size.  
<ul>
<li>
<a href="https://global.remax.com/Villa-For-Sale-Mojacar-Almeria_27531003-111" target="_blank">Mojácar, Andalucia, Spain</a>: A$699,031.
</li>
</ul>
<img src="/images/2014/04/04/spain%20april%204%20one.jpg" alt="">
If you think it might be a little too chilly on Vancouver Island to go for a swim, why not purchase this villa with a pool in Spain? Another four bedroom, three bathroom house, this one (pictured above) set up on a hill has spectacular views over the Alboran Sea.
<ul>
<li>
<a href="https://global.remax.com/Condo-Apartment-For-Sale-Breckenridge-Colorado_1008225005-22" target="_blank">Breckenridge, Colorado, USA</a>: A$692,617.74
</li>
</ul>
<img src="/images/2014/04/04/colorado-april-4.jpg" alt="">
Photo courtesy of the Summit Association of Realtors
This condo on Breckenridge’s Main Street has two bedrooms and three bathrooms, with views over the resort town (pictured above). After a long day of skiing, buyers can keep warm in front of the fireplace at their resort penthouse.
<ul>
<li>
<a href="https://global.remax.com/Multi-Family-For-Sale-Rochester-New-York_1020091034-168" target="_blank">Rochester, New York, USA</a>: A$16,125
</li>
</ul>
<img src="/images/2014/04/04/L_abd16e4d008f4989bd33e1c7d3a0ebd5_iList%201.jpg" width="460" height="345">
At the substantially lower end of the market, this 1920 home in Rochester is selling for what one assumes is substantially lower than its purchase price. Its sale is subject to bank approval of the short sale. For Sydney's median price, you could buy this home 44 times over.
<ul>
<li>
<a href="https://www.century21global.com/property/7004-evergreen-way-buford-ga-30518-usa-C21102185177-USD" target="_blank">Burfood, Georgia, USA</a>: A$10,824
</li>
</ul>
<img src="/images/2014/04/04/cn23g0tqrevh4petbky75vvan3i.jpg" width="460" height="345">
Similarly, the three bedroom, three bathroom mobile home pictured above was purchased for almost US$90,000 when new. Priced for a quick sale at about $10,000, you could buy 72 of these homes for the same price as one median house in Sydney.
<ul>
<li>
<a href="https://global.remax.com/Detached-Bungalow-For-Sale-Monopoli_23341001-334" target="_blank">Monopoli, Bari, Italy</a>: A$699,031
</li>
</ul>
<img src="/images/2014/04/04/bari-april-4-one.jpg" alt="">
This two bedroom, two bathroom single level home (pictured above) was built in 1900. With views of the Adriatic Sea, it’s set in the historic port city of Monopoli. And, of course, it comes with a pool.
<ul>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-newtown-116610955" target="_blank">Newtown, Sydney</a>: A$700-750,000
</li>
</ul>
<img src="/images/2014/04/04/main.jpg" width="460" height="345">
Back home, the two bedroom, one bathroom home pictured above is listed with a price guide of $700-750,000. 
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jrichardson-uRX5hFdKfN

What will Sydney’s median price get you around the world?

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Iconic billionaire property developer Harry Triguboff has said that apartment prices will tumble and rentals will rise if demand from Chinese developers drops off.
The man known by some as High Rise Harry told The Australian that he anticipates a 10-15% price drop in some areas if Chinese buyers were to stop purchasing Australian properties. He also said that the subsequent halt in new developments would also cause rental rates to rise.
"If production (of units) dropped, the impact would be a huge rise in rents," he told The Australian. Triguboff attributed residential prices to poor national planning systems.
According to the publication, about 70% of Triguboff’s apartments are sold to offshore buyers and Australians of Asian descent. However, Triguboff told Bloomberg earlier this year that his company does not market properties to mainland China and has no intentions to begin doing so. 
"They come to me," Triguboff told Bloomberg in February. "Today, we’re part of the Chinese market, more than 10,000 apartments is nothing," he said, referring to Meriton's construction capacity.
Triguboff established the Meriton Group in 1963 at just 30 years old. According to Triguboff, the business is now worth $6.1 billion. The apartment developer is mostly active in Sydney and South East Queensland, and also owns or manages about 3,000 apartments in addition to its construction and development activities.
According to BRW's 2013 Rich 200 list, he is Australia's eighth richest person, with a net wealth of $5.5 billion. Triguboff was born in China and moved to Australia in 1948. 
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Prices will fall if Chinese buyers withdraw, warns Harry Triguboff

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Ballarat's Lal Lal Estate, a 2,000-hectare merino wool property owned by the Fisken family for six generations, is being sold to the Chinese wool buying company, Tianyu.
The 168-year-old property, east of Ballarat, comes with 100 year old Edwardian homestead and granite stables built in 1858.
Tianyu was credited in 2009 as having the largest plant in China with annual wool scouring capacity of 27,000 tons and annual production of 12,000 tons of Australian wool tops. 
It's been sold by Geoff Fisken, the Wool Producers Australia (WPA) president.
Six generations ago Archibald Fisken was eleven when he arrived in Victoria from Scotland with his parents and uncle and aunt in the 1830s. Young Archibald’s father, also Archibald, brought a prefabricated iron house and 40 casks of oatmeal with him. He built the house at the top of Lonsdale Street. Archibald’s uncle, Peter Inglis, didn’t stay in Melbourne instead choosing to settle on a property he called Ingliston at Ballan on the Werribee River.
 Young Archibald went to live with his uncle and aunt and was tutored on the property. At the age of 19 Archibald was put in charge of the property which stretched all the way to Ballarat with what would become the Lal Lal property forming part of it. Archibald was thirty before he married, a sixteen year old named Charlotte McNamara from Sydney. A competent farmer by now his uncle gave him Lal Lal providing he never put his name on a promissory note. They lived in a small stone house on a lower section of the property.  Archibald and Charlotte had a son they called Archibald James who also worked on the property. 
<a href="https://www.ballarat.com/lal-lal-estate/index.htm" target="_blank">The family website</a> shows he married May Wanliss and it was Archibald James and May who built the present homestead in 1911.
Lal Lal is an Aboriginal name for water.
They had one child who was called Archibald Clyde Wanliss Fisken. He married Elspeth Cameron from Tasmania and they had four children, the first being name Archibald John. Archibald Clyde was educated at Geelong Grammar, then went to England and joined the Royal Artillery in World War I and awarded a Military Cross for bravery in France. He became the federal member for Ballarat and served one term. He was chairman of the Australian Meat Board for 10 years, served on Buninyong Shire Council and died in 1970 Archibald John met Patricia Falkiner and married in Melbourne in 1951 and lived at Lal Lal, they had four children David, Rena, Geoff and Anita. John managed the property until his death in 1989.  John and Patricia’s son Geoff now runs the Yendon property. He has been the Wool Producers Australia (WPA) president. The property runs cattle and 13,000 merino sheep and grows cereal and oilseed crops. Lal Lal Estate was also available for functions, conferences,media advertising, location photographic shoots and car rallies.
Tianyu’s Australian head of operations Peter Carey confirmed the company’s purchase to the local paper this week.
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