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

jchancellor-FAypfDUnLy

Michael Hintze gets Rich List billionaire status, but Urs Schwarzenbach puts him in the shade with $24 million private art gallery

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A lawned courtyard 202 square metre garden plot, which fronts ordinary Chelsea houses in London, has been sold at Savills International auction for £84,000 (AU$151,000) to an international buyer
"Little bits of London, such as this, are in scarce supply and people want to get their hands on their own little piece of Chelsea," Savills auctioneer Chris Coleman-Smith said.
<a href="https://www.rightmove.co.uk/property-for-sale/property-43982548" target="_blank">The 0.05 acre plot of land with sundial</a>, accessed from Sprimont Place, sold for the equivalent of £1.68 million per acre.
It has no planning permission and no right of way, situated in Chelsea, one of Central London’s most affluent and highly sought after residential areas.
"City environments can easily change and so this could be a very long term investment bought with grandchildren and inheritance in mind – who knows what it might be possible to do with it in 20 years time," Chris Coleman-Smith said.
The garden was sold only eight months ago for £53,000 (AU$94,000).
Meanwhile Alan Titchmarsh’s departure as host of the BBC coverage of the Chelsea Flower Show continues to intrigue.
He has revealed he stepped down hurt, because his role as lead presenter was given to fellow gardener and Daily Mail columnist Monty Don.
Titchmarsh was the unofficial face of Chelsea Flower Show for three decades. 
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Chelsea, London flower garden plot with sundial sold as keepsake

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Buyers looking to stake their claim to Romania’s Bran Castle finally have the chance.
The castle was formerly the home of Vlad “The Impaler” Tepes, the member of the House of Draculesti who is said to have inspired Bram Stoker’s Count Dracula. However, rather than ruling the castle and terrorising local villagers, Vlad is thought to have stayed prisoner there for two months in 1462 after being captured by the Hungarian army. Also known by his patronymic name Drăculea, Vlad earned a reputation for torturing and maiming his victims. 
The castle is owned by Archduke Dominic Habsburg and his sisters, Elizabeth and Maria Magdalena. The Habsburgs were expelled from the castle when Dominic was 10 in 1948 when the area came under communist rule. Bran Castle was returned to the family in 2007.
But now it seems that maintaining the drafty old castle is becoming quite a drainer for the Habsburgs. Dominic, Elizabeth and Maria Magdalena are now all in their 70s and faced with operating the sprawling castle as a tourist venture. The family attempted to sell the castle in 2006 to the Romanian government for a reported A$94 million dollars, with no luck. They tried again to put the castle on the market in 2007, but again with no biters.
The castle has 57 rooms, with uninterrupted mountain top views. However, though the reported 560,000 visitors that walk through Bran Castle every year have access to bathrooms, there are none in the residential wing of the castle. They were reportedly ripped out by the communists when the castle was seized.
According to Fox News, current selling agent Mark Meyer from New York’s Herzfield and Rubin refuses to discuss the price. Meyer told the Telegraph that the Habsburgs are keen to see the castle continue as a tourist destination once it is sold.
“Archduke Dominic and his family care very much for the castle, and it's in far better shape now than it was when run by the government," Meyer said.
"The aim, though, is to take the whole thing a stage further, re-route the road and make Bran a destination, the kind of place people will stay for two or three days."
"We'd like whoever buys the castle to continue running it as a tourist destination. This isn't just a national monument, it's the largest and most significant attraction in Romania," he added.
Photo courtesy of Wikipedia/Creative Commons.
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jrichardson-uRX5hFdKfN

Dracula’s Transylvanian haunt up for sale

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Shane Warne and his former fiancé Liz Hurley have yet to decide what to do with their £6 million 13 bedroom UK purchase, Donnington Hall near Ledbury.
Donnington Hall is an <a href="https://www.propertyobserver.com.au/news/shane-warne-and-liz-hurley-to-renovate-their-uk-home-mostly-adding-ensuites/2013061662307?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus" target="_blank">impressive property</a> on 21 acres of woodland.
{qtube vid:=Zzjkjm7fz1g}
Together for almost three years, Shane Warne and fiance, Liz Hurley had started renovations before they parted ways in November 2013.
She has told the latest Hello magazine the future of Donnington Hall was "up in the air."
Hello Online does say Hurley "hints that she and Damian (her 12 year old son) may continue to live there."
The grade II-listed Donnington Hall is a Georgian mansion on the Gloucestershire-Herefordshire border.
She already owned in Gloucestershire.
<img src="/images/stories/2012/08/donnington2.png" width="470">
Donnington Hall (pictured above and below) is an impressive property that boasts a tennis court, fishing lake, Edwardian stables and open field, and housekeeper accommodation.
<img src="/images/stories/2012/08/donnington3.png" width="470">
It was in late 2011 when the local paper, the Ledbury Reporter revealed the house-hunting rumours when the couple strolled into Greggs the bakers on the High Street.
"The town was buzzing with rumours the couple were looking for property as Liz ordered a <a href="https://www.malverngazette.co.uk/news/9895327.Liz_and_Shane_buy___6m_mansion_near_Ledbury/" target="_blank" rel="nofollow">custard slice and Shane, two sausage rolls</a>," the Malvern Gazette wrote.
Donnington was bought without any registered mortatge in 2012.
<a href="/news/vic/shane-warne-secured-10-85-million-in-kilkerran-sale-so-no-brighton-record">Shane Warne sold his Brighton home</a>, Kilkerran late last year for $10.85 million, and is reported to have spent around $4 million on a four bedroom, two bathroom Kinane Street, Brighton home.
The heritage-listed property, Kilkerran was bought for $8.55 million in 2009 with his then-wife Simone Callahan.
It had been completely renovated to include a wine room, a gym, basement garage, tennis court, cinema and a pool with Warne's cricket number, 23, inscribed on the bottom of the pool.
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Shane Warne and Liz Hurley yet to decide on Donnington Hall mansion future

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Just in the past few weeks there has been a rapid turnover in prestige homes holding the mantle of the USA's most expensive residential property.
The latest was over the weekend when The New York Post reported the reputed US$147 million million sale of an 18-acre East Hampton property.
Property Observer lists the top five house sales with their nine figure prices. And throws in those that just fell short.
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The East Hampton beachfront estate of the Tweedy, Browne Company head Christopher H. Browne and his landscape architect partner, Andrew Gordon has been sold for the reputed $147 million. Browne left his entire estate to Gordon following his 2009 death at the age of 62, and Gordon, his partner of 10 year, lived at the property until his death from cancer aged 52 last September.  The New York Post reports that hedge fund manager Barry Rothstein of Jana Partners bought the 18-acre East Hampton property. It was 1996 when Browne bought the oceanfront estate which then had a 1950s house on the dunes. There is now an English country house in the center of the property, surrounded by formal English gardens and only remotely connected to the sea. The garden, with apple orchard near the road, and the ponds pre-date the house as on the purchase there had been an arrangement with the property’s previous owner, by which she could stay in the house for several more summers. The couple built <a href="https://www.nytimes.com/2007/10/04/garden/04chris?pagewanted=all&amp;_r=0" target="_blank" style="line-height: 1.3em;">a temporary 35-foot-tall observation platform</a> in the middle of the property to help them formulate their ideas for the overall design.  Gordon inherited the estate but only after a dozen of Browne's relatives, staff and friends dropped their court challenges to his 2008 will, accusing Gordon of taking advantage of Browne's alcoholism and diminished mental state. One lawsuit referred to Gordon as <a href="https://www.nydailynews.com/new-york/architect-andrew-gordon-control-boyfriend-260-million-estate-article-1.1267194" target="_blank" style="line-height: 1.3em;">"a cross between the American Gigolo and Claus von Bulow." </a>
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The US$120 million sale of Copper Beech Farm in Greenwich, Connecticut took place two weeks ago. It had been put on the market for $190 million but failed to secure the asking price. The sale of a waterfront mansion on 50 acres (18 hectares) in Greenwich was through <a href="https://www.davidogilvy.com/property/2630/address-not-available" target="_blank" style="line-height: 1.3em;">David Ogilvy &amp; Associates, the Christie’s International Real Estate affiliate</a><a href="https://www.davidogilvy.com/property/2630/address-not-available" target="_blank" style="line-height: 1.3em;">.</a> The 1898 neo-French Renaissance manor at at 499 Indian Field Road in Greenwich (pictured below) was sold by real estate mogul Stanley Kroenke.  <img src="/images/2014/05/05/3.jpg" alt=""> Copper Beech Farm was the home for seven decades of the Lauder Greenway family, co-founders of US Steel. With views across Long Island Sound, it is the largest waterfront estate on the coastline between Greenwich and New York City. The New York Times reported it last traded in 1981 for US$7.55 million when it was bought by timber magnate John Rudey, a timber magnate. <a href="https://blog.ctnews.com/propertyrounds/2014/04/11/breaking-copper-beech-farm-sells-for-120-million/#16190101=0" target="_blank" style="line-height: 1.3em;">The news of the sale was broken by the local paper</a>. It was featured in a 1986 coffee table book highlighting the town’s 46 most architecturally significant historic abodes. 
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The US$117.5 million nine-acre Silicon Valley estate in San Francisco sits in third place. It was bought by Softbank billionaire Masayoshi Son in late 2012. The Mountain Home Road, Woodside, California comes with 9,000-square foot <a href="https://sfluxe.com/2013/01/24/woodside-home-sells-for-117500000/" target="_blank" style="line-height: 1.3em;">neo-classical house</a>, a 1,117-square foot colonnaded pool house, a detached library, a retreat building, a swimming pool, a tennis court and formal gardens.  The mansion (pictured below) is roughly 9,000 square feet, and was designed by Virginia-based architect Allan Greenberg. <img src="/images/2014/05/05/woodside.jpg" alt=""> Photo courtesy of <a href="https://www.jaygraham.com/" target="_blank">Jay Graham</a>. Created by Virginia-based architect Allan Greenberg, it was featured in Extraordinary Homes California: An Exclusive Showcase of the Finest Architects, Designers and Builders in California, in 2009. Greenberg, who is a member of the Architectural Digest 100, described the house as sitting in “an elaborate hilltop garden”, and noted that, in the Palladian tradition, “it is planned around hyphens and dependencies and features a double volume, elliptical garden room.” It has a pool, nine-acres of property, and is surrounded by 360-degree views of the Woodside Mountains. The residence was never publicly listed for sale was previously owned by Tully Friedman of Friedman Fleischer and Lowe LLC, a San Francisco investment firm. 
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The US$103 million purchase of fund manager Ron Baron in 2007 for an undeveloped 40-acre estate, also on Further Lane, East Hampton ranks fourth. It is where the billionaire is building a 28,000 square foot house.  Ron Baron's purchase of the <a href="https://mlbpark.donga.com/mbs/articleV.php?mbsC=bullpen&amp;mbsIdx=175237" target="_blank" style="line-height: 1.3em;">Further Lane de Menil Estate</a> at 260 Further Lane in East Hampton (pictured below) through his 260 A LLC company came at the height of the market. <img src="/images/2014/05/05/east%20hamptons.jpg" alt=""> Photo courtesy of Doug Kuntz/Splash News/Newscom. Subsequent reporting suggest he has built himself a home on the western third of the property, but now hopes to divide the remaining land into two oceanfront parcels with adjacent lots for guesthomes. The street-to-ocean developed properties could fetch upwards of US$42 million each according to a local broker, using a 10 acre parcel as a model. 
</li>
<li>
Sitting in fifth place is the recent US$102 million sale of the Fleur de Lys Estate in Los Angeles’s Holmby Hills though not to Michael Milken <a href="https://www.forbes.com/sites/erincarlyle/2014/03/31/fleur-de-lys-estate-in-holmby-hills-sells-for-102-million-in-billionaire-bidding-war/" style="line-height: 1.3em;"></a>who denies it is him. So maybe it's a “highly secretive French billionaire”. Either way it is the most expensive home ever sold in L.A. County,<a href="https://www.latimes.com/business/money/la-fi-mo-fleur-de-lys-20140331,0,7233094.story#ixzz2xZG5fDYZ" target="_blank"> the Los Angeles Times</a> reported.
</li>
</ol>
Presumably the paperwork will show it exceded the 56,500-square-foot Aaron Spelling Manor in Los Angeles that sold for US$85 million in July 2011 when The The Manor in the Holmby Hills neighbourhood sold to the heiress Petra Eccleston, daughter of Formula One racing magnate Bernie Ecclestone.
{qtube vid:=Mu6pc0VexPQ}
Sold by socialite and philanthropist Suzanne Saperstein, Fleur de Lys has 12 bedrooms, 15 bathrooms, a ballroom, two kitchens, a massive movie theatre, a pool, tennis courts, and a nine-car garage. It had previously been listed for US$125 million.  <a href="https://www.businessinsider.com.au/fleur-de-lys-back-on-market-2011-7" style="line-height: 1.3em;"></a>According to the LA Times, the 4.6-acre N Carolwood Drive estate was sold after a three-way bidding war among international billionaires, and the winner closed in 10 days in an all-cash deal that included the home’s antique furnishings.<a href="https://en.wikipedia.org/wiki/Fleur_de_Lys_(Los_Angeles,_California)" target="_blank"> </a>
 All available now at $40,000 a week rental
There is always a little hyperbole and mystery regarding prestige sales. There were initial reports in 2011 that the Russian investor Yuri Milner, who made money from Facebook, spent US$100 million on a Silicon Valley real estate. But the <a href="https://www.mercurynews.com/real-estate-news/ci_17692966?nclick_check=1" target="_blank">local paper</a> with access to records of the Santa Clara County assessor subsequently reported it was US$75 million on the 25,500-square-foot mansion in Los Altos Hills.
The previous record was US$95 million in 2008 for Maison de L'Amitie, an estate in Palm Beach, Florida, though Dmitri Rybolovlev, the Russian billionaire who reportedly bought the former Donald Trump house had always denied owning — until conceding a linkage in his divorce deposition. His lawyer says Rybolovlev pays its taxes and upkeep expenses, but doesn’t own the beachfront house at 515 N. County Road, formerly the Gosman estate. The questions were lodged by attorneys representing Dmitri’s estranged wife, Elena. 
The Milner purchase was through La Paloma Property LLC, according to county records, a limited liability company registered in Delaware, where business laws protect the identities of the principals in companies and partnerships, but the blog TechCrunch had the buyer as Yuri Milner, the Russian venture investor who founded the investment fund Digital Sky Technologies, now known as DST Global.
Some suggested the transaction combined cash and stock. 
The seller was Evershine III's tech tycoon Fred Chan, founder of ESS Technology in Fremont, and his wife, Annie, who built the hilltop house, which sits on a main parcel of 11 acres with two adjoining parcels off La Paloma Road. The five bedroom, nine bathroom house comes with a tennis court and car wash following its 2003 construction.
Subsequent local assessor appraisals suggested it was less than the price reputedly. Santa Clara Country <a href="https://www.mercurynews.com/ci_20998327/russian-mogul-yuri-milner-silicon-valley-mansion-worth-half-its-price-100-million" target="_blank">assessor Larry Stone suggested the house's fair market value </a>was US$50,270,000. William Hablinksi, the architect, described the property on his website as an interpretation of the royal Chateau de Maisons and Anet. The total square footage rounds up to 30,000 square feet when you add in the 4,613-square-foot guest house. 
There have been other sales but of ranches including the Montana's Broken O Ranch sold at an unconfirmed price to billionaire St. Louis Rams owner Stan Kroenke, according to The Wall Street, in 2012 having been listed at US$132 million by the estate of the William Moore family, founders of Kelly-Moore Paint Co.  The sale price of this 124,000-acre operational ranch is undisclosed, but at least US$90 million plus.
Lesser sales include Gary Winnick’s US$94 million purchase of the Weber Mansion in Los Angeles in 2000 for 10644 Bellagio Road, Bel Air.
There was also a Malibu oceanfront sale of US<a class="exit_trigger_set" href="https://www.forbes.com/sites/morganbrennan/2013/01/07/billionaire-howard-marks-sells-75-million-malibu-mansion-in-record-breaking-deal/" target="_blank" style="line-height: 1.3em;">$75 million</a> by the billionaire money manager Howard Marks to Russian billionaires in 2013 of a 20,000-square-foot Mediterranean-style villa with eight bedrooms and 14 bathrooms. Marks and his wife purchased the property for US$31 million in 2002 from the estate of late Herbalife founder Mark Hughes. Coming with more than 300 feet of ocean frontage, the Pacific Coast Highway property is one of Malibu’s largest seaside parcels.
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The five most expensive US house deals above $100 million

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There were 48,000 completed foreclosures nationally across the United States in March 2014, down from 53,000 in March 2013, an annual decrease of 10%, according to CoreLogic, the leading global property information, analytics and data provider. 
But completed foreclosures were up 5.9% from the 45,000 reported in February 2014.
As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.
Since the financial crisis began in September 2008, there have been five million completed foreclosures across the country.
And as of March 2014, 720,000 homes in the United States were in some stage of foreclosure, known as the foreclosure inventory, compared to 1.1 million in March 2013, a year- over-year decrease of 37%.
The foreclosure inventory as of March represented 1.8% of all homes with a mortgage, compared to 2.8% in March 2013.
The foreclosure inventory was down 5.1% from February 2014, representing the 29th month of year-over- year declines.
“The inventory of homes in foreclosure and serious delinquency status are back to 2008 levels, yet remain elevated from a historical perspective,” said Mark Fleming, chief economist for CoreLogic.
“While getting healthier, the housing market is a long way from being fully recovered.
“The pathway to a full recovery in housing is proving to be a very long one, but lower distressed stock levels are one clear indicator that we continue to make slow-but-steady progress,” said Anand Nallathambi, president and CEO of CoreLogic.
It was pointed out that most states have made good progress clearing their foreclosure inventories but states that have a longer judicial foreclosure process such as Florida, New Jersey and New York, continue to struggle with elevated distressed stock inventories.
Some 36 states show declines in year-over-year foreclosure inventory of greater than 30% with Arizona, California and Utah experiencing declines greater than 50%.
The five states with the highest number of completed foreclosures for the 12 months ending in March 2014 were Florida (122,000), Michigan (49,000), Texas (39,000), California (34,000) and Georgia (33,000).These five states account for almost half of all completed foreclosures nationally.
The five states (including the District of Columbia) with the lowest number of completed foreclosures for the 12 months ending in March 2014 were the District of Columbia (57), North Dakota (414), West Virginia (516), Hawaii (683) and Wyoming (714).
The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were New Jersey (6.0%), Florida (5.8%), New York (4.6%), Maine (3.2%) and Hawaii (3.1%).
The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were Alaska (0.4%), Wyoming (0.5%), North Dakota (0.5%), Nebraska (0.5%) and Minnesota (0.6%).
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The five states with highest and lowest foreclosure homes in USA: CoreLogic

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Close to 100 countries have signed up to a new set of tax principles to govern how goods and services are taxed across borders.
But local retailers are unsure as to what kind of pressure the international consensus will have in Australia, where state and territory governments are yet to reach an agreement about changing the $1000 <a href="https://www.smartcompany.com.au/finance/tax/35217-lowering-the-gst-import-threshold-will-require-careful-political-management" target="_blank">GST threshold for online purchases</a> from offshore suppliers.
Representatives from 86 countries endorsed the guidelines from the Organisation for Economic Co-operation and Development in Tokyo, Japan, on April 18 as part of the OECD Global Forum on VAT.
The <a href="https://www.oecd.org/ctp/consumption/governments-endorse-new-oecd-guidelines-on-applying-vat-across-borders.htm" target="_blank">guidelines</a>, which represent the first internationally agreed framework for applying value-added tax across national borders, aim to help countries avoid both double-taxation and under-taxation. The guidelines relate to two areas: VAT neutrality and ensuring taxes on business-to-business trade is services are destination-based.
The level at which GST is applied to online purchases from offshore suppliers in Australia is a hotly-contested issue, with many local retailers arguing that lowering the threshold from $1000 to a much smaller amount such as $20 would create a more even playing field.
The Productivity Commission <a href="https://www.smartcompany.com.au/growth/economy/23452-20111209-productivity-commission-shoots-down-online-gst-argument-but-pushes-for-changes-to-postal-costs--trading-hours-and-zoning-laws" target="_blank">examined the issue in 2011</a> but found that the cost of collecting GST on online purchases at a threshold of $20 would far outweigh the benefit.
Australian National Retailers Association executive director Russell Zimmerman told SmartCompany while there has been “robust discussion” on the topic between the federal government and retailers, he is unsure as to how much pressure the OECD guidelines will have added to the local debate.
However, Zimmerman said the endorsement “does show that every country is concerned” about international tax arrangements.
Zimmerman said the OECD guidelines may have more of an impact on multinational companies who use corporate structures across various territories to attempt to avoid their tax obligations.
State and territory ministers were <a href="https://www.smartcompany.com.au/legal/politics/41170-push-to-lower-online-gst-threshold-re-intensifies-as-pm-meets-with-retail-chiefs" target="_blank">due to make a decision about the threshold in March</a> but an agreement was hampered by the elections in Tasmania and South Australia. “It’s fair to say that the issue will go to another cabinet meeting,” says Zimmerman of the next step.
Zimmerman said the ARA hopes the recent elevation to NSW Premier of former treasurer Mike Baird, a strong supporter of lowering the GST threshold, will spur the debate.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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Almost 100 countries sign GST agreement: Pressure mounts on Australian government

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If you've ever wanted to buy a haunted island then you're in luck. Poveglia is up for sale.
{qtube vid:=URbvSD0QdnA}
Possibly the only place near Venice that nobody wants to go to, the uninhabited Italian island has been put up for sale to help reduce the country’s public debt, according the the UK’s The Independent.
It was a quarantine station in the 18th century before apparently becoming a ‘dumping ground’ for plague victims, including children, and the 17-acre island was then home to a mental hospital where the doctor apparently undertook horrible surgeries, such as lobotomies, with hand drills, on the patients. Combining these aspects together, with current rumours that it’s now haunted, and you have the topic for one of the most nail-bitingly creepy films of all time.
That doctor then threw himself off the tallest tower. That hospital only closed in the late-1960s.
As they say, one man’s trash, another man’s treasure. Where some Property Observer readers will see “Personal Worst Nightmare” our property opportunists may instead consider it a “Private Island Holiday Destination”.
The Telegraph reports that the plan is to transform the building into a luxury hotel, however a campaign has been launched to stop privatisation of the lagoon. We imagine that creepy child plague-ghosts, one by the name of Little Maria, aren’t among the resort’s plans, but we could be wrong.
Closed to visitors in recent years by the Italian government, in what could be seen as a conspiracy against the worldwide findings-out of the devils beyond but is likely just a safety protocol, it has attracted paranormal investigators in the past.
If you’re in the market to buy a creepy island, then this is the perfect option. Bids for Poveglia close 6 May 2014.
The Daily Mail explains that a 99 year lease is in the offering for its redevelopment, but that a further four properties, including 15th Century castle and monastery, will be auctioned off freehold. Around 150 state-owned properties will go under the hammer with hopes of netting a 500 million euro total.
Australians can bid <a href="https://venditaimmobili.agenziademanio.it/AsteDemanio_FE/index.php/benioffertalibera/index" target="_blank">in the virtual auction</a>.
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Poveglia, haunted Venetian island up for sale, with hotel plans

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High net worth investors and sovereign wealth funds - potentially armed with billions of dollars - are set to put their stamp on Australia's commercial property market in the year ahead. 
Those two forces are expected to drive a year of change for Australia's commercial property market, with emerging investors being one of the major changes due to a rise of high net worth (HNW) individuals and sovereign wealth funds (SWF) increasing their investment in the Australian market.
In the Asia-Pacific alone, ultra high net worth (UHNW) investors - those with wealth of more than US$30 million - are estimated to be worth US$6.59 billion.
The sovereign wealth fund market today is estimated to be worth US$6.1 trillion - nearly doubling in size since 2007. 
The findings were released in JLL's latest report The year of the push and pull market, which states that Australia's commercial property market will continue to be subject to "divergent forces", with some new factors and some continuing from 2013.   
JLL's Australasian head of research and co-author of the report, Dr David Rees, Australasian, said "the push factors that will lead to increased capital flow into real estate in 2014 include the growth of HNW individuals, the expansion of SWFs, growth of funds under management (FUM) by superannuation funds, increasing portfolio allocations by investors to real estate and away from equity markets, low interest rates, a premium paid for market transparency and an ageing population."
Globally, he notes, that those UHNW individuals who have made their money from real estate continue to hold around 60% of their wealth in real estate.
“In 2014, development opportunities offering capital growth and often smaller capital value high yield opportunities are likely to be attractive to this category of investors", he said. 
Some of the ‘push’ factors identified in the report that will lead to increased capital flow into real estate markets are:
<ul>
<li>SWF funds expanding in number and size;</li>
<li>global growth of HNW investors;</li>
<li>continued growth of the nation's $1.7 trillion superannuation market, with property a key part</li>
<li>of its exposure, and</li>
<li>a portfolio allocation tilt toward real estate. </li>
</ul>
"A 1% shift away from equity and bond markets implies a 19% rise in real estate exposure if we measure the commercial real estate investable universe", the report said. 
Dr Rees said that although many funds had lifted their exposure to real estate, "many are still considered to be underweight in this area, so the potential for growth is strong.”
Dr Rees said the ‘pull’ factors in 2014 that would lead to increasing demand for real estate assets in selected markets were all about "new benchmark metrics that will become more relevant as the year progresses".
“It is all about spreads and if they are the new ‘normal’ or is there more adjustment to come in 2014?"
JLL is forecasting yield spreads between CBD markets to compress. 
It also believes yields spreads between prime and secondary grade assets will compress without reverting to pre-2008 levels and that incentives will contract but are likely to remain higher than historically. 
It is also tipping investor return expectations to adjust to a lower growth economy and the normal office market vacancy rates to be higher.   
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High net worth investors and soveriegn wealth funds to put their stamp on Australian commercial property

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