The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

International

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Global listed property funds delivered the highest returns of all types of managed fund in May, adding 3.3% for the month, according to the Morningstar Australian Institutional Sector Survey.
The UBS Global Investors ex Australia index rose by 3.3% over the month to 31 May in Australian dollar terms. The index delivered 11.6% over the 12 months to the end of May and 14.8% over the calendar year to date.
UBS Clarion Global Property Securities fund performed the best over the month, gaining 3.8%.
AMP Capital delivered the highest returns over the 12 months to the end of May and year-to-date, gaining 13.5% and 16.3% respectively.
AMP Capital deputy head of global listed real estate James Maydew said the fund management team looked at individual REITs and aimed to identify the best ones. The fund currently has about 60 stocks in its portfolio.
“We have a quality bias to the portfolio construction. We believe quality will outperform throughout the real estate cycle ... When we say quality, we don’t just mean quality real estate. We also look at quality management, capital management and balance sheet,” Maydew said.
Commercial property in London looked attractive at this point in the property cycle, he said.
“The market there was impacted heavily by the financial crisis. Nothing was developed there for an extended period of time. We are now experiencing economic growth and jobs growth which is translating to falling vacancy rates, occupancy gains and rental tension,” Maydew said.
The manager was also attracted to REITs that had development capabilities. “We want developers because they are the people that can make the margin on real estate in a rising market. Real estate is cyclical and we have to be able to own those managers that can access that cyclical environment.”
Aged care is another theme that AMP Capital’s team has been pursuing. While the market for listed aged care providers in Australia is quite small, it is better established globally, Maydew said.
“Ageing populations are translating to more demand for aged care facilities ... That’s going to hold for a long period of time.”
Research house Morningstar upgraded AMP Capital’s global REIT strategy from bronze to silver during its latest review of funds in the sector, but downgraded it back to bronze following the departure of two London-based team members in April.
Maydew said there were 14 people in the team before the departures, and the aim was to rebuild the team to 15 people, including three people based in Europe.
He said the manager had received a large number of applications for the roles from all over the world and expected to fill the positions within the next couple of months.
It was considering relocating one or two team members from elsewhere in the world and backfilling those positions with new local recruits to ensure the team’s culture was maintained in the London office. 
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Global listed property funds bested all other fund types with highest May returns

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All eyes are fixed on Rio de Janeiro, thanks to the World Cup.
But it’s the city’s real estate market which has caught the eye of Savills, which added the Brazilian capital to its World Cities index this year.
This year, the index expanded from 10 “global cities” to 12 with the addition of Rio de Janeiro and Dubai. The London stock exchange listed real estate agency counts Rio among the world’s “new world cities”, along with Dubai, Moscow, Mumbai, Singapore, Hong Kong and Shanghai. London, New York, Paris, Tokyo and Sydney make up the old guard.
In its Live/Work Index, Savills ranks the 12 cities according to their cost of renting residential and commercial space per employee, per year. Rio de Janeiro has the second cheapest Live/Work value on the list, more expensive than only Mumbai.
The Live/Work Index:
<ol>
<li>
Hong Kong Live/Work cost per worker, per year: $123,000 
</li>
<li>
London Live/Work cost per worker, per year: $115,000 
</li>
<li>
New York Live/Work cost per worker, per year: $112,000 
</li>
<li>
Paris Live/Work cost per worker, per year: $107,000 
</li>
<li>
Singapore Live/Work cost per worker, per year: $76,000 
</li>
<li>
Tokyo Live/Work cost per worker, per year: $74,000 
</li>
<li>
Dubai Live/Work cost per worker, per year: $72,000 
</li>
<li>
Moscow Live/Work cost per worker, per year: $70,000 
</li>
<li>
Sydney Live/Work cost per worker, per year: $60,000 
</li>
<li>
Shanghai Live/Work cost per worker, per year: $44,000 
</li>
<li>
Rio De Janeiro Live/Work cost per worker, per year: $30,000 
</li>
<li>
Mumbai Live/Work cost per worker, per year: $28,000</li>
</ol>
Source: Savills
According to Savills, Brazil was “one of the big global success stories” of the decade from 2000, with 40 million Brazilians joining the country’s middle class between 2005 and 2011.
The report claims that “tougher policing” in Rio de Janeiro has “helped to pacify the drug controlled favelas”.
With this year’s World Cup and the Olympics in 2016, there have been significant infrastructure investments in the country. 
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Rio de Janeiro “the real success story of Brazil’s economic emergence”: Savills

<html><body>
Australians millionaires hold over 40% of their wealth in property, more than double the global average, the 18th annual World Wealth Report has found.
The report by Cap Gemini revealed there were 218,700 people in Australia who had US$1 million or more to invest (excluding their family home). That was up by 5.8% from 206,600 people a year earlier.
Cap Gemini wealth management specialist Dorus van den Bizenbos told Property Observer that Australian millionaires had always held around 35 to 40% of their wealth in real estate over the time since the first survey was conducted.
“The Australian dream is to own your home and people invest a lot in real estate because the market has been going up for years. It’s understandable and tangible and people want to own property,” van den Bizenbos said.
Real estate values across Australia rose 6.5% from 2013 to 2014, Cap Gemini’s analysis found. Van den Bizenbos said rising property prices were one of three contributors to the increase in the number of Australian millionaires during the year.
A strong economy, with GDP growth of 2.4% in Australia compared with the global average of 2.2%, and Australian share market gains of 15% also helped boost the ranks of Australian millionaires.
Rich people around the world held an average of 18.7% of their wealth in real estate, the 2014 World Wealth Report found. That was down from 20% in the 2013 report, with the shift going towards fixed income and alternative assets such as hedge funds, structured products and private equity funds.
“What we’ve seen is that people have started to spread out their wealth more,” van den Bizenbos said. “They retreated to cash in times of uncertainty and now they have got more confidence they are starting to invest more in alternatives.”
The report found there were 13.73 million high net worth individuals (people who had more than US$1 million to invest) in the 2014 report, almost two million more than in the previous year. That represented a 15% growth rate, the second largest increase since 2000.
North America had the largest number of high net worth individuals, while the Asia Pacific region was second and quickly catching up. 
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Aussie millionaires hold twice as much property as their global counterparts

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The most exciting design feature in your home is the contrast between that white and neon chevron throw and your tasteful dove grey couch.
When you step into your house, you’re greeted by a sea of neutral tones. You’re sick of pretending to care about scented candles.
Perhaps you, like Manhattan resident Chris Kooluris, could do with a trip down memory lane. This used to be his bedroom:
<img src="/images/2014/06/13/nFtxZ07.jpg" alt="">
Some US$48,000 later, this is his bedroom:
<img src="/images/2014/06/13/NPPiq6k.jpg" alt="">
Chris and his home <a href="/expert-insights/building/fantasy-renovation-manhattan-gamer-turns-his-apartment-into-a-video-game-arcade">made headlines last week</a> when he revealed his home, which he transformed into a home arcade – complete with pinball machines, arcade games, and action figures. 
If you’re feeling a little jealous of Chris’s apartment, never fear. You too could one day live in your own video game arcade.
First, you’ll need to get rid of all that timber. Timber floorboards, desk, cabinet, bedhead – there’s no room for organic materials in a 1980s style video game arcade. Out it goes.
Next, paint those sandy beige walls over to dove grey, and move in your first arcade game. This one’s pretty special: it’s a Donkey Kong: Kong Off game.
Chris tells Property Observer that this game used to belong to Donkey Kong champion Steve Weibe himself, and is signed by Weibe and his supposed nemesis (and hot sauce purveyor), Billy Mitchell. For those who aren’t as well versed in their Donkey Kong battle mythology as they should be, it might be time to take a break from the renovations to sit down and watch <a href="https://www.imdb.com/title/tt0923752/" target="_blank">King of Kong: A Fistful of Quarters</a>.
<img src="/images/2014/06/13/sn17cfn.jpg" alt="">
<ul>
<li>Cost: US $3,000 (AU $3,184)</li>
</ul>
The next arcade game in Chris’s collection is the Punch Out!! (fully restored, of course)
<img src="/images/2014/06/13/3.jpg" alt="">
<ul>
<li>Cost: US $2,100 (AUD $2,229)</li>
</ul>
Then comes the flooring. Chris chose colourful carpet floor tiles for his home arcade.
<img src="/images/2014/06/13/PKPNQwl%20-%20Imgur.png" alt="">
<ul>
<li>Cost: US $1,200 (AU $1,274)</li>
</ul>
Time for some more games, courtesy of Disney. There’s Tron, which Chris tells us is an original, “in very good condition with new side art, control panel and plastics”.
Then there’s Fix It Felix Junior, which some might recognise from the movie Wreck It Ralph. According to Chris, as few as 30 Fix It Felix original units exist, with less than 10 in private homes. He also got a Ms Pac Man unit, which plays 60 different games.
<img src="/images/2014/06/13/fIvlU5W%20-%20Imgur.png" alt="">
<ul>
<li>
Cost: Tron – US $2,500 (AU $2,652). Fix It Felix Junior – US $6,500 (AU $6,897). Ms Pac Man 60-1 – US $2,000 (AU $2,122)
</li>
</ul>
But of course, you don’t want to let your hobby make you anti-social. You’ll need a multi-player unit, like this Street Fighter II themed Dream Home Arcade Pedestal, which plays 25,000 different games.
And, of course, a television to go with it. And don’t forget the décor. It will look best surrounded by video game marquees.
<img src="/images/2014/06/13/eIm3hhl%20-%20Imgur.jpg" alt="">
<ul>
<li>Cost: Dream Home Arcade Pedestal – US $3,000 (AU $3,184). Sony 55 inch television – US $1,700 (AU $1,804). Video game marquees – US $500 (AU $531).</li>
</ul>
Even the most enthusiastic gamer has basic human needs. For that, there’s a vending machine. Look, it even has fruit.
<img src="/images/2014/06/13/pgif5x5%20-%20Imgur%201.png" alt="">
<ul>
<li>Cost: Rhino vending machine – US $350 (AU $371)</li>
</ul>
You tossed that bed, but you have to sleep on something. Chris went for a leather fold out futon, so there was plenty of room for game play in waking hours.  And, of course, a Teenage Mutant Ninja Turtles quilt.
<ul>
<li>Cost: Fold out bed - US $750 (AU $796). Teenage Mutant Ninja Turtles quilt - US $45 (AU $48).</li>
</ul>
<img src="/images/2014/06/13/xQwnhqo.png" alt="">
Any renovation show will tell you that details are everything. There’s Transformers artwork by Tom Whalen, stools, Twin Galaxies logo decal (apparently drawn up by Chris’s then fiancée) and Street Fighter action figures.
<ul>
<li>
Cost: Transformers artwork by Tom Whalen (framed) - US $350 (AU $371). Stools - US $300 (AU $318). Twin Galaxies Fat Head - US $120 (AU $127). Street Fighter SOTA Action Figures - US $600 (AU $637)
</li>
</ul>
But if you think that’s those constitute the finishing touches, you’re wrong. First, you’re going to have to lay down US $15,000 (AU $15,917) on a collection of Transformers. Property Observer, having a few Transformers collector contacts of our own, guesses that this collection (partially pictured below) took quite a few years for Chris to amass.
 <img src="/images/2014/06/13/nB8tKmo%20-%20Imgur.png" alt="">
<ul>
<li>Cost: Transformers collection - US $15,000 (AU $15,917).</li>
</ul>
Finally, there’s the pinball machine. While <a href="https://www.wired.com/2014/05/arcadia/" target="_blank">Chris told Wired </a>that he once promised to contain his hobby to a single room of his apartment, it seems that it’s spilled over into his living room, with this Lord Of The Rings themed pinball machine. 
<ul>
<li>Cost: Lord of the Rings pinball machine - US $7,000 (AU $7,428)</li>
</ul>
“Arcades are a gateway drug for a pinball collection,” Chris told Wired. While it looks like he'll press "A" to continue, the average person might put have put the controller down a long time ago.
All photos supplied by Chris Kooluris.
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Renovation recreation: How to turn your bedroom into an arcade

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Metal studs installed in an alcove at the entrance of a block of London residential flats have been described as “ugly, self defeating and stupid” by Mayor Boris Johnson.
The so called “anti-homeless” spikes have attracted widespread criticism after a picture of the spikes was <a href="https://www.facebook.com/photo.php?fbid=10154181616760058&amp;set=a.144410400057.227753.700465057&amp;type=1" target="_blank">posted on Facebook </a>and distributed on Twitter. An <a href="https://www.change.org/en-GB/petitions/mayoroflondon-residential-property-partners-remove-the-anti-homeless-spikes?recruiter=107232150&amp;utm_campaign=share_twitter_mobile&amp;utm_medium=twitter&amp;utm_source=share_petition" target="_blank">online petition</a> to remove the spikes has been launched, with 108,449 signatures gathered so far. 
According to the petition, the Southwark building in question is managed by Property Partners. London journalism student Nathan Fitzpatrick visited the building, <a href="https://storify.com/nathanfitz/twitter-reporting-on-anti-rough-sleeping-studs" target="_blank">reporting over Twitter</a> that he spoke to some of the building’s residents. The unnamed residents told Fitzpatrick that the spikes had been installed in “the past three to four weeks”, while Fitzpatrick noted that none of the residents he spoke to had been consulted about the spikes.
Johnson rebuked the spikes and urged the developer to remove them (although it has been noted elsewhere that it was not the building’s developers who installed the spikes).
“Spikes outside Southwark housing development to deter rough sleeping are ugly, self defeating &amp; stupid. Developer should remove them ASAP,” Johnston <a href="https://www.propertyobserver.com.au/https://twitter.com/MayorofLondon/status/475943253406412801" target="_blank">tweeted earlier this week</a>. 
“We've spent £34m on the likes of 'no 2nd night out, reaching 3/4s of rough sleepers, but must do more. <a href="https://www.propertyobserver.com.au/https://twitter.com/MayorofLondon/status/475945644302282752" target="_blank">Spikes are simply not the answer</a>.”
However, Buzzfeed has noted that these are not London’s first “anti-homeless” spikes, with reports of spikes appearing <a href="https://www.independent.co.uk/arts-entertainment/art/news/architecture-making-a-point-with-spikes-and-studs-for-the-homeless-for-weary-tourists-or-anyone-waiting-for-a-friend-london-buildings-have-offered-a-nook-or-windowsill-on-which-to-rest-not-any-more-mark-cole-looks-at-antipeople-adornments-1442470" target="_blank">as early as 1994</a>. 
<img src="/images/2014/06/12/fb2.jpg" alt="">
Source: <a href="https://www.facebook.com/photo.php?fbid=10154181616760058&amp;set=a.144410400057.227753.700465057&amp;type=1" target="_blank">Andrew Horton via Facebook</a> 
Despite the public outcry against the spikes, they have been defended by some, including <a href="https://imsorrythatimlikethis.wordpress.com/2014/06/07/the-spikes/" target="_blank">one nursing student</a> who claims that “sometimes you have to remove a person’s sleep site in order to engage that person” and prevent further risks to their health that come with rough sleeping.
“That’s why they’ve put the spikes there. Or made the benches single. Or too narrow to sleep on. Look around you. These measures are in place all over London.”
In a widely shared blog post, the student urges readers to worry instead about wider societal issues that contribute to people sleeping rough in the first place.
“If you’re worried about the spikes maybe instead you could worry about the housing shortage, or the lack of good mental health and drug and alcohol services in your area. Worry about how your local area is dealing with antisocial behaviour. Worry about children’s services, worry about decent homeless liaison teams in hospitals. Worry about the lack of shelters. Worry about the benefit cuts,” she writes.
As for the Southwark spikes, they have since been turned into an <a href="https://www.propertyobserver.com.au/https://twitter.com/olivia_solon/status/476050904362536962/photo/1" target="_blank">anti-Boris Johnson protest</a>.
<img src="/images/2014/06/12/Capture1.jpg" alt="">
Two plants have been placed on the spikes, along with a note that reads:
“13% INCREASE IN HOMELESSNESS UNDER BORIS AWARENESS GARDEN
ALSO A CARBON SINK” 
Have you seen any anti-homeless spikes where you live? How do you think the practice would be received in Australia? 
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London’s “anti-homeless spikes” attract criticism from Boris Johnson

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All the attention was on the art filled, stark white matrimonial home of Ron and Odetta Medich this week, given its eventual, but rather rapid sale this week.
<a href="/news/ron-medich-finally-sells-point-piper-harbourfront-trophy-home">It was sold for around $38 million</a> by the estranged couple.
But Title Tattle's antennae has been elsewhere too.
Back in the south of France where some of my recent sojourn was spent tracking down the retreat of Odetta Medich, the noted arts patron of Point Piper where Tasmanian tiger sculptures by Caroline Rothwell feature poolside on Sydney Harbour.
There'd been whispers ever since 2008 that she'd acquired a bolthole, though not much more than the suggestion it was somewhere between Monaco and St Tropez.
In mid-2010 provocatively Odetta tweeted: "st tropez is so much better than miami!!!!! love love love st tropez!!!!!!"
Earlier this year Title Tattle spotted <a href="https://www.facebook.com/photo.php?fbid=692598610784181&amp;set=a.404463676264344.94963.198495266861187&amp;type=1" target="_blank" style="line-height: 1.3em;">The World Of Interiors magazine</a>, January edition. 
While the apartment was not the one featured on the cover, there was a small noteworthy mention; 'Chameleon on the Cote d'Azur: The French Salon that turns into a New York loft'.
<img src="/images/2014/06/12/worlds-of-interrior-june-12.jpg" alt="">
Inside, the article made no mention of the owner's name, but the art work was the clue, as it was Odetta through and through.
It was especially the Caroline Rothwell mantlepiece sculpture that piqued Title Tattle's attention, and then the mention of the expatriate Australian architect Carl Pickering of Lazzarini Pickering. He is best known as having done  Icebergs restaurant in 2003 overlooking Bondi Beach, but he has been Rome-based since forming the partnership in 1983.
The magazine revealed it was in the coastal Beaulieu-sur-Mer town which, when it comes to the French Riviera, Title Tattle happens to know like the back of one's hand, second only to St Jean Cap Ferrat.
<img src="/images/2014/06/13/Beaulieu-sur-Mer-june-13-map-tow.jpg" alt="">
Courtesy of Google Maps.
The apartment's location, with its distinctive gargoyles, was indeed within view from the much frequented 81 route bus-stop.
The magazine spiel suggested the apartment was "the riddle on the Riviera".
<img src="/images/2014/06/13/interior-june-12-three.jpg" alt="">
Photo: Matteo Piazza. Source: World of Interiors, January edition.
"How do you give a Belle Epoque apartment on the Cote d’Azur the party-ready functionality of a New York loft? 
"You knock down the walls, replace them with panels that are actually doors – and scatter liberally with reflective black surfaces leading to ‘secret’ spaces," the magazine's Lee Marshall suggested.
The interior photography by Matteo Piazza revealed the restored stucco work, marble fireplace and newly installed pointe de hongrie oak parquet flooring inside the apartment.
<img src="/images/2014/06/13/interior-june-12-one.jpg" alt="">
<img src="/images/2014/06/13/interior-june-12-two.jpg" alt="">
<img src="/images/2014/06/13/interior-june-12-four.jpg" alt="">
<img src="/images/2014/06/13/interior-june-12-five.jpg" alt="">
Photos: Matteo Piazza. Source: World of Interiors, January edition.
Set on the busy road midway between Monte Carlo and Nice, the four storey Royal Residence has around 20 occupant buzzers with Odetta Medich having the split-level patio balcony apartment. It appears to have valley views of the town, but nothing much of the Mediterranean sea in view.
<img src="/images/2014/06/13/odetta%20june%2013%20one.jpg" alt="">
<img src="/images/2014/06/13/odetta_0001_2.jpg.jpg" alt="">
<img src="/images/2014/06/13/odetta-june-13-four.jpg" alt="">
<img src="/images/2014/06/13/odetta-june-13-two.jpg" alt="">
<img src="/images/2014/06/13/odetta-june-13-five.jpg" alt="">
<img src="/images/2014/06/13/odetta_0003_4.jpg.jpg" alt="">
<a href="https://www.ideainterni.com/residential.php?d=1&amp;g=1071" target="_blank">The Idea Interni builder's website gives photographic details</a> on the 2010 project. Ditto the stoneworks company, <a href="https://www.italworks-usa.com" target="_blank">Italworks</a> as the project progressed.
<img src="/images/2014/06/13/france-june-12-one.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-two.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-three.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-foor.jpg" width="533" height="450">
<img src="/images/2014/06/13/france-june-12-five.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-six.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-seven.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-eight.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-nine.jpg" alt="">
<img src="/images/2014/06/13/france-june-12-ten.jpg" alt="">
Source: Ideainterni
Odetta, is Ron's second wife, 20 years his junior. The SMH investigative editor Kate McClymont once suggested the Lithuanian-born Mrs Medich had spent $5 million on the then unidentified French Riviera bolt hole. 
And Title Tattle will have to defer to Kate's price advisory given the difficulties of navigating the French commune's title transfers. Estate agent shop windows had prices ranges from €135,000 (A$195,000) for studio apartments to the dearest on offer at €4.2 million (A$6.4 million). And of course then there's the extraordinary renovation which these interiors show unfold. Possibly an over capitalisation? 
It is within a 1900 townhouse, which the magazine describes as handsome without pretension, Belle Epoque without too many frills and furbelows. 
Some of the locals know of her as Mme Odetta Chtouikite.
Feature photo of Beaulieu-sur-Mer: Ramón Cutanda López. Source: Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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jchancellor-FAypfDUnLy

Odetta Medich's French Riviera glamorous bolt hole: Title Tattle 

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Model and actress Liz Hurley is selling one of her luxury Midland homes – for £6 million. 
The six bedroom Ampney Knowle (pictured above), near Cirencester, Gloucestershire has been listed so she can concentrate on decorating and furnishing Donnington Hall at Ledbury, Herefordshire.
Liz is planning to live at Donnington Hall, which is 40 miles away.
The larger 13 bedroom property was bought in 2012 with her ex, former Australian cricketer Shane Warne, so Title Tattle suggests it appears she will now buy out his half share interest.
“It’s no secret that I bought Donnington Hall with my former fiancé and it was a tough decision to choose which house to keep as I love them both," Liz told the The Sunday Times Home supplement after her recent decision.
“But I’m looking forward to decorating and furnishing Donnington.
“I’ll be sorry to leave Ampney Knowle because every inch of the house and garden holds a happy memory for me.”
The swimwear designer bought stone-built <a href="https://www.countrylife.co.uk/property/uk/properties/7392945/sales" target="_blank">Ampney Knowle</a> for £3.3 million in 2003.
It is set in 450 acres of Cotswolds countryside, has six bedrooms, a guest annexe, cottages in the grounds and outbuildings.
The Cotswold estate, that comprises more than 144 acres, <a href="https://search.knightfrank.com/cho140193" target="_blank">has been listed by </a><a href="https://search.knightfrank.com/cho140193" target="_blank">Knight Frank</a>.
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Liz Hurley lists Ampney Knowle, to keep Donnington Hall

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The International Monetary Fund’s Global Housing Watch has found that Australia ranks highly on a number of their calculations.
There were 19 countries recorded with drops in prices, with the biggest decrease seen in India with a -9.1% drop year on year.
Here are the countries that recorded an increase in value, and how they ranked. {plotalot id="17"} Source: OECD and IMF calculations
In the IMF’s other calculations, Australia sits within the top five (with Belgium, Norway, New Zealand and Canada just ahead) in terms of house prices being above rents, as well as scoring in the top three (with Canada and Belgium taking out top spots) as continuing to be “out of reach of household incomes”).
Deputy managing director for the IMF, Min Zhu, noted that house prices are inching up in <a href="https://blog-imfdirect.imf.org/" target="_blank">the IMF blog</a>.
"But is this a cause for much cheer?  Or are we watching the same movie again? Recall how after a decade-long boom, house prices started to fall in 2006, first in the United States and then elsewhere, contributing to the 2008-9 global financial crisis. In fact, our research indicates that boom-bust patterns in house prices preceded more than two-thirds of the recent 50 systemic banking crises," Zhu wrote.
He explained that theory asserts house prices, rents and incomes should move "in tandem over the long run", and that if these factors do not the people switch between buying and renting to eventually bring them into alignment.
"Similarly, in the long run, the price of houses cannot stray too far from people’s ability to afford them––that is, from their income. The ratios of house prices to rents and incomes are thus often used as an initial check on whether house prices are out of line with economic fundamentals," he said.
For Australia, he goes on to say that the ratios remain above the historical average.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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jduke-EHk3XBmHkn

IMF's Min Zhu: Are we "watching the same movie again" with house price rises preceding a crisis?

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An Auckland couple have washed their hands of the rental market after attempting to lease out a fully furnished flat with a toilet in the kitchen. 
Unfortunately, this is <a href="/news/nsw/a-toilet-in-the-kitchen-a-strange-unit-layout">the second kitchen-toilet hybrid Property Observer has seen this year</a>.
The studio apartment in Auckland's Forrest Hill has a combined bathroom, laundry and kitchen.
<a href="https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&amp;objectid=11268470" target="_blank">The New Zealand Herald </a>reports that the rental was advertised on Trade Me, an online classifieds site, through Ray White (picture from the advertisement above). Agent Serena White told The New Zealand Herald that although she inspected the property before advertising it, she hadn’t noticed the bathroom bungle. She later asked the landlord to set up a partition.
"I shouldn't have done the advertisement first, I should have done the advertisement after," she said.
"We talked to the landlord, we can't list this kind of property. Some clients reported it wasn't legal."
The landlords, Anthony Wong and Anita Leung, agreed.
"I don't want to rent the room because we can't do the kitchen in the bathroom,” Leung told The New Zealand Herald. "It’s illegal."
The listing was reportedly pulled after prospective renters complained about the layout. It seems that even the inclusion of utilities in the rent wasn’t enough to lure toilet-shy tenants.
Earlier this year, a <a href="/news/nsw/a-toilet-in-the-kitchen-a-strange-unit-layout">Darlinghurst art-deco apartment</a> with a less than flattering view from the stove was listed for rent (pictured below).
<img src="/images/2014/06/11/darlinghurst_0002_3.jpg.jpg" alt="">
In defence of Darlinghurst, at least its toilet had a floor-to-ceiling glass door, which might provide the cook from noxious fumes and germs (if not an eyeful).
Not so for Auckland’s novoviral paradise, where the portable stove and toaster are set within full spray of the toilet. According to The New Zealand Herald, New Zealand building codes require that there is at least one door between the kitchen and the toilet. 
Thankfully, Wong and Leung say they haven’t rented the flat out before.
Feature photo source: Trade Me via The New Zealand Herald.
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Toilet in the kitchen, number two

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The Small Maldives Island Company has appointed Luke Mangan as the chef of their new resorts, responsible for food and beverages at Amilla, which opens in November, and Finolhu, due to launch in mid-2015.
There will be eight restaurants across the two islands with Lonu, the main restaurant on Amilla. Lonu is Maldivian for salt.
The new venture adds to his existing glass brasserie at the Hilton Sydney; plus Salt grills and/or bars in Surfers Paradise, Jakarta, Singapore, Bali and Tokyo.
The Maldives group is headed by hotelier, Tom McLoughlin, who created the world’s first underwater spa at Huvafen Fushi and the first underwater nightclub at Niyama. The group has also hired Australian hospitality executive Michael Flynn.
Amilla Fushi is an island resort located in Baa Atoll located in the pristine UNESCO biosphere reserve. 
Trained by renowned chefs Michel and Albert Roux, Luke Mangan opened his first Salt restaurant in Darlinghurst, Sydney, in 1999. glass brasserie, situated in the Hilton Hotel in Sydney, opened in 2005.
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