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

<main data-perf-region="main">
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]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

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

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

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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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