Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

Joel Robinson

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368856]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Liquidation

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There was movement on the title of the eastern suburbs trophy home of Tom Haikin and his wife, Lilly, as the Max Brenner’s Australian franchisee went into voluntary liquidation last week.
It’s been reputedly sold for more than $30 million, although the two caveats lodged on title involved unregistered loans, and were not from a mystery buyer.
The title had four formal mortgages, with the NAB as first mortgagee on the 3000 square metre holding which last traded in 2010 for $23 million.
Wentworth Capital is the second mortgagee, then Citadel Group, then Glenn Wein’s Zajasam Pty Ltd.
Last week, Yael and Amnon Weiler placed a caveat on the title pursuant to a late 2016 loan agreement. Prospa Advance also placed a caveat last week over a late 2017 loan.
The property was being offered to buyers for $33 million earlier this year.
This article was first published in the Sunday Telegraph.
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firstname1-iYD4UYzvBa

Eastern suburbs home of Max Brenner franchisees in the spotlight

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The registration of Justin James Cadman as a registered liquidator was cancelled on 13 June 2018 following orders made in the Federal Circuit Court of Australia, which resulted in Mr Cadman being declared bankrupt.
On 19 June 2018, ASIC appointed replacement liquidators to the fifteen (15) vacant external administrations previously administered by Mr Cadman.
ASIC Commissioner John Price said, ‘ASIC has moved quickly to exercise the new powers under the insolvency regime to appoint a replacement liquidator and appreciates the assistance of the replacement liquidators Ms Moira Carter of BRI Ferrier NQ and Mr Todd Kelly of BDO (Nth QLD).’
Below is a list of the external administrations and replacement liquidator’s contact details should creditors have any concerns.
Ms Moira Carter of BRI Ferrier NQ Phone (07) 4037 7000
<ul>
<li>Australian Vocational Learning Institute Pty Ltd ACN 097 453 828</li>
<li>Cairns Accident Repair Centre Pty Ltd ACN 077 729 367</li>
<li>Medisurg Pty Ltd ACN 113 077 982</li>
<li>MOJB Pty Ltd ACN 128 137 806</li>
<li>Phone Hospital Pty Limited ACN 112 320 386</li>
<li>Sinopoli Holdings Pty Limited ACN 107 341 499</li>
</ul>
Zanzoo Tiles Pty Ltd ACN 142 521 695
Mr Todd Kelly of BDO (Nth QLD) Phone (02) 4046 0000
<ul>
<li>Aborigines and Islanders Alcohol Relief Service Ltd ACN 010 064 374</li>
<li>Margach Builders Pty Ltd ACN 078 363 729</li>
<li>Barrier Leasing Pty Ltd ACN 104 014 002</li>
<li>Barrier Air Charter Pty Ltd ACN 108 788 147</li>
<li>Barrier Air Services Pty Ltd ACN 104 014 011</li>
<li>Barrier Aviation Pty Ltd ACN 056 643 531</li>
<li>Davryl Holdings Pty Ltd ACN 108 502 165</li>
<li>Lip-Air Pty Limited ACN 068 117 537</li>
</ul>
Background
Cairns-based Mr Cadman operated an insolvency and accounting practice firstly through a company called Mclaren Knight Pty Ltd (in liquidation), then later through another company called Mclaren Knight International Pty Ltd.
Mr Cadman had been a registered liquidator since August 2005.
Under section 40-20(1) of Schedule 2 (Schedule 2) of the Corporations Act 2001, a liquidator’s registration as a registered liquidator is automatically cancelled if a person becomes an insolvent under administration. Under section 40-111 of Schedule 2, ASIC may appoint another liquidator if a liquidator’s registration is suspended or cancelled. These new laws came into effect on 1 March 2017.
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j.ballantyne1990-6AQqhLzZaK

Cairns liquidator Justin Cadman loses registration

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The ATO is the biggest creditor after the collapse of the leading Australian boutique estate agency Unique Estates.
The agency ceased trading earlier this year with PPB recently appointed liquidator. 
BMW Leasing is the second highest of the known creditors, owed $351,000.
Express Commission Australia was owed $180,000, among the 27 creditors owned a $1.6 million total.
It was February when McGrath Nicol had been initially appointed joint managers by the NSW Department of Fair Trading with staff getting an email from its founder informing them of the agency collapse.
"It is with great sadness that I inform you that Unique Estates is going into liquidation today and you are to stop work straight away," founder, Nicolette van Wijngaarden emailed staff.
"Wages can not be paid tomorrow," she told the staff.
"I am very sorry it has come to this," she wrote.
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It had operations in Sydney, Melbourne and Byron Bay with 32 employees, whose creditor details are yet to emerge.
There is some concern on the quorum at the meeting of shareholders appointing PPB, so in order to resolve the matter, PPB have instructed solicitors to make an application to the NSW Supreme Court confirming their appointment as liquidators.
Creditors have been advised in early June the director is in the process of preparing a Report as to Affairs (RATA).
"The books and records of the Company are held by the Joint Managers and we are in discussion with them to obtain the books and records for our investigations.
"The director has co-operated with our enquiries into the company’s affairs," PPB noted. 
</div>
</div>
</div>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/15/nic_new.jpg" alt="">
The website listings extended from Hamilton Island to Cressy in Tasmania, all disappearing many now at other agencies.
The estate agency was founded in Byron Bay. Unique Estates operated seven offices including Albert Park, Double Bay, the Gold Coast, Melbourne and Hong Kong.
Unique Estates was founded in 2009 as a specialized company for dealing with VIP clients and luxury properties.
Van Wijngaarden also ran rentals and had recently launched a yacht and jet charter division.
The agency published the glossy Unique Luxury Magazine, distributed to Qantas Airways Chairman's, First Class &amp; Business Class Lounges both nationally and internationally. Ads cost $4500 per page.
Its founder Nicolette van Wijngaarden only entered the real estate game to help her partner, who had spent some frustrating time with established estate agents trying to sell his own Byron Bay hinterland property.
"Thankyou all so much for your tireless efforts to build our brand," she told the team.
"Please know that I did everything I could to prevent it," she concluded her email.
<div>The agency won a string of awards over the years including the Best Real Estate Agency Website for Asia Pacific 2017-2018 at the International Property Awards Grand Final Ceremony held in London recently. It had previously won awards in the categories of Best Real Estate Agency Website, Best Real Estate Agency Marketing and Real Estate Agency in the International Property Awards.</div>
No reason was given for the collapse, but the sale of trophy home properties have slowed to a crawl across Australia, amid low vendor listings.
The Domain website indicated the team at Unique Estates had sold 19 properties in the last 12 months, with an average sale price of $2.6 million. 
The team sold 17 houses and 2 blocks of land and rural properties by private treaty.
These properties were on the market for an average of 341 days.
Last September van Wijngaarden noted the biggest challenge facing her market was government restrictions on foreign buyers.
The highest recorded sale price was $4.3 million for 12 Brownell Drive, Byron Bay, a 2-bedroom house which sold by private treaty on last November having been on the market for 230 days.
Their longest and dearest offering was the <a href="https://uniqueestates.com.au/listings/residential_sale-276324-nanarup/" target="_blank">south WA coast property</a>, Maitraya set on the picturesque coastline of Nanarup, near Albany.
It is on 263 hectares fronting three ocean beaches.
The farmland property comfortably sleeps 30 people across an eight-bedroom sandstone manor, five-bedroom fisherman’s lodge and two-bedroom pilot cottage.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/8/nand2.jpg" alt="">
 
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ATO owed $933,000 after Unique Estates Australia collapse 

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Auction houses are understandably fielding inquiries as to whether they keep client money in an audited trust account ever since the collapse last December of Mossgreen.
Sotheby’s, Bonhams, Menzies and Deutscher and Hackett say they do – although there is no industry standard.
“Trust accounts should absolutely be a requirement,” Chris Deutscher of Deutscher and Hackett has told The Australian Financial Review.
“The law should be changed, we’ve just seen the reason why.”
The Australian Financial Review Magazine has revealed that Paul Sumner's Mossgreen lost money for five years before it went under last December.
Its client account, where funds from auctions were held before being disbursed to vendors, had a shortfall back to December 2013, it reported this week, having previously reported, in a 2016 Australian Financial Review profile, that Mossgreen's turnover had impressively grown from about $10 million in 2013 to $39.6 million in 2015. 
But the paper now reports Mossgreen’s competitors – Sotheby’s, Deutscher and Hackett, Menzies, Bonhams – had for years "wondered how the company was staying afloat and keeping on the lights in its sumptuous Melbourne and Sydney showrooms."
At its peak in early 2017, Mossgreen had 55 staff, almost double Sotheby’s which auctioned three times as much.
The paper suggested Mossgreen had some blockbuster auctions, that "raised only a few hundred thousand dollars, well below the $1 million that industry veterans say is needed for an auction to make money."
“It can cost you as much to auction off a $600 piece of Royal Doulton as it does to sell a $10,000 painting,” noted Mark Fraser, who suggested Mossgreen had spent too much on its premises.
“If you’ve got good stuff to sell, you can sell it in a tin shed, you don’t need fabulous auction rooms,” the former chairman of auction house Bonhams, Fraser, and now an independent art consultant said.
Sumner started Mossgreen in 2004 by briefly selling artworks from the walls of his rented Macleay Regis, Potts Point apartment, the same building as the Sydney society family, the Copplesons’ who were among his final auction content vendors.
Mossgreen contractually paid clients after 60 days, double the standard 30 days.
It used money in its client account as a spare line of credit with the shortfall, according to two of the AFR sources, growing.
An ownership change inside Mossgreen’s business in July meant the shortfall became a big problem, it noted.
It was when Jack Gringlas sought to stop funding its losses. By 2017 he had lent $6 million to Mossgreen.
In 2013 he invested $1.6 million into Mossgreen in return for 40 per cent equity. Charles Leski bought 20 per cent, leaving Sumner with the rest.
Last July Gringlas and Leski sold their combined 60 per cent to Sumner for $2.4 million, the same price they had paid.
Gringlas agreed he could pay in four years’ time and reportedly also gave Sumner two years to find new backers so Mossgreen could pay back the $6 million.
Documents obtained by Property Observer indicated Paul Sumner's auction house owes its auction vendors $6.8 million, which is $1 million more than administrators calculated ahead of the first creditors' meeting last month.
Toorak businessman Jack Gringlas​ remains the biggest secured creditor, being owed $6 million. 
The administration came December 21 following failed fundraising attempts.
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Sumner, who did not attend the first meeting, blamed the current circumstance on growing "a little bit fast."
There were 330 creditors initially identified at the meeting who were told no law required trust accounts for the auction proceeds.
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The names of the creditors are a who's who from across Australia, ranging from passionate collectors, socialites, low key business tycoons to deceased estates.
</div>
The biggest unsecured creditor stemmed from the auction of a book collection.
Some $1.75 million is owed to the family of <a href="http://www.mossgreen.com.au/content/event/the-collection-of-martin-copley-am/" target="_blank">the late wealthy insurance underwriter Martin Copley</a> who auctioned off the books in October.
His auction items included John Gould's monumental The Birds of Australia, a large folio in eight volumes with 681 hand-coloured lithographed plates, bound in dark green morocco by Riviere, an original subscriber's set, which sold at $446,400 including premium.
The second biggest client was another deceased estate, that of the late South Australian building industry icon Alan Hickinbotham and his late wife Margaret. 
It was billed as the highest value collection ever to be sold in Adelaide when auctioned in May by Mossgreen's chief, Paul Sumner.
Sydney's society Coppleson family were listed as owed $465,000, the third highest-owed creditor.
It followed the sale of the contents of the Macleay Regis penthouse, home of the late esteemed gynaecologist Professor Malcolm Coppleson and his late wife, Patricia, who was Vogue Living’s editor-at-large.
The 172 <a href="http://www.mossgreen.com.au/content/event/the-malcolm-and-patricia-coppleson-collection/" target="_blank">lots included </a>the sale of a $192,200 Ian Fairweather work which had an $80,000 to $120,000 price guidance. A Tim Maguire fetched $117,800.
Mossgreen's last auction on December 7 last year was the contents of the Sheehy family with just 274 of the 438 lots being sold. The family, who are owed $45,000, inquired at the meeting whether Sumner's passport would be surrendered.
</div>
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jchancellor-FAypfDUnLy

Mossgreen was losing money for five years before collapse

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"Bank accounts are frozen and there are no funds," was the blunt message to staff at a leading Australian estate agency today.
McGrath Nicol has been appointed joint managers by the NSW Department of Fair Trading over the national boutique estate agency, Unique Estates. 
Staff got an email from its founder informing them of the agency collapse.
"It is with great sadness that I inform you that Unique Estates is going into liquidation today and you are to stop work straight away," founder, Nicolette van Wijngaarden emailed staff.
"Wages can not be paid tomorrow," she told the staff, telling them to contact McGrath Nicol senior accountant Jordan Trovato, who has yet to confirm the official status of the estate agency.
"I am very sorry it has come to this," she wrote.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/15/nic_new.jpg" alt="">
The website ceased operating today, with listings from Hamilton Island to Cressy in Tasmania disappearing.
Staff, its 32 vendors, recent sellers and their solicitors were dismayed at the move, although had fears of its deteriorating situation for some time. The agency was showing signs of eratic decision making along with heightened staff departures.
The estate agency was founded in Byron Bay. Unique Estates operated seven offices including Albert Park, Double Bay, the Gold Coast, Melbourne and Hong Kong.
Unique Estates was founded in 2009 as a specialized company for dealing with VIP clients and luxury properties.
Van Wijngaarden also ran rentals ranging a night to $NZ20,000 a night for one property in New Zealand’s Queenstown.
She recently launched a yacht and jet charter division.
The agency published the glossy Unique Luxury Magazine, <a href="https://issuu.com/nickyvw/docs/ul17_-_issuu_final" target="_blank">a quarterly property and lifestyle publication</a> distributed to Qantas Airways Chairman's, First Class &amp; Business Class Lounges both nationally and internationally. Ads cost $4500 per page.
Its previously indefatigable founder Nicolette van Wijngaarden only entered the real estate game to help her partner, who had spent some frustrating time with established estate agents trying to sell his own Byron Bay hinterland property.
"Thankyou all so much for your tireless efforts to build our brand," she told the team of up to 42 staff today.
"Please know that I did everything I could to prevent it," she concluded her email.
<div>The agency won a string of awards over the years including the Best Real Estate Agency Website for Asia Pacific 2017-2018 at the International Property Awards Grand Final Ceremony held in London recently. It had previously won awards in the categories of Best Real Estate Agency Website, Best Real Estate Agency Marketing and Real Estate Agency in the International Property Awards.</div>
No reason was given for the collapse, but the sale of trophy home properties have slowed to a crawl across Australia, amid low vendor listings.
The Domain website indicated the team at Unique Estates had sold 19 properties in the last 12 months, with an average sale price of $2.6 million. 
The team sold 17 houses and 2 blocks of land and rural properties by private treaty.
These properties were on the market for an average of 341 days.
Last September van Wijngaarden noted the biggest challenge facing her market was government restrictions on foreign buyers.
The highest recorded sale price was $4.3 million for 12 Brownell Drive, Byron Bay, a 2-bedroom house which sold by private treaty on last November having been on the market for 230 days.
Their longest and dearest offering was the <a href="https://uniqueestates.com.au/listings/residential_sale-276324-nanarup/" target="_blank">south WA coast property</a>, Maitraya set on the picturesque coastline of Nanarup, near Albany.
It is on 263 hectares fronting three ocean beaches.
The farmland property comfortably sleeps 30 people across an eight-bedroom sandstone manor, five-bedroom fisherman’s lodge and two-bedroom pilot cottage.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/8/nand2.jpg" alt="">
Rick Fenny, the Perth businessman, had been seeking to sell his holiday retreat for $25 million. It had been listed since May 2015 with agent Nicolette van Wijngaarden, from Unique Estates.
Van Wijngaarden splits her time between a home in Sydney’s eastern suburbs near the harbour, a city apartment on the Yarra River in Melbourne and an apartment on the Gold Coast beach.
 
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Nicolette van Wijngaarden "very sorry" Unique Estates placed into liquidation

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The car racing property developer, Ash Samadi allegedly owes 19 tradies and businesses more than $900,000 from work on his Surry Hills residential/hotel project, Botanik.

Samadi, who races a $680,000 Audi, <a href="https://www.9news.com.au/national/2018/01/23/18/32/high-flying-developer-owes-nearly-one-million-dollars-tradies-claim" target="_blank">was exposed on last night's A Current Affair</a>, who spotted him coming out of Bunnings Clovelly wheeling a wheel barrow needed for one of his latest projects.

Builders, carpenters, electricians, and pavers are among those who say Samadi owes them collectively a $911,200 at Surry Hills.

[smartcode_project:default project_id=89193]

The liquidator's report advises that the company advised there were cost overruns on the project, "with a former director making unauthorised approval of a number of contract variations who had ignored the protocol of pre-seeking the consent to cover overruns from the Samadi Immobilier Trust."

Ash Samadi was described by the liquidator as a "shadow or de facto director."

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/24/sam0.jpg">

Confronted by A Current Affair, Samadi said the alleged complaints would have to be settled in court.

Rather than head off in his Mecedes Jeep, he alighted a bus towards the Junction, albeit without an Opal card.

One business did take on the Samadi Trust in court and won a judgement for $29,000, however, the Immobillier company where Samadi was a former director has been placed into liquidation and the money owed never paid.  

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/24/wheel.jpg">

The Samadi Group have four projects in Surry Hills, three next door to each other on Elizabeth Street, and the other nearby on Foveaux Street.

Samadi lives in a $16.5 million home in Sydney's Point Piper, which was briefly listed for sale last year. It was passed in at $16.5 million. It was bought in his mother's name.

The Samadi Immobilier company has made loans to Samadi, with a loan from his mother totalling just over $5.55 million. 

There is accordingly $5.95 million owing to creditors arising from the liquidation of the Samadi group.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/24/bus%20samadi.jpg">

The liquidator noted the complex arrangements, suggesting that as far as he was aware, there is no formal contract between the company and the owners of the Surry Hill development properties.

"Despite this the company may have a 'quantum meruit' claim against those entities. Quantum meruit is an action for payment of the reasonable value of services performed where there is no formal contract," liquidator Gavin Morton at Morton's Solvency Accountants told creditors.

Established in 1988, the Samadi group was formed as a small family business. 

Designed by Brenchley Architects and Quattro Interiors, the Botanik building was listed last year for sale through Miron Solomons, Gus Moors and Matt Pontey of Colliers International with a price guide of over $25 million.

Last year the SMH reported Apartment Hotels had signed a 10-year lease in the new development at 533-535 Elizabeth Street, Surry Hills.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/24/sam2.jpg">

It comprised 22 high-end apartments comprising a mix of one-, two- and three-bedroom apartments and two ground-floor retail tenancies and a rooftop terrace area with 15-metre pool and other facilities.

The operators have also committed to spending a further $1.7 million on furniture and fit out in the newly developed building, the newspaper reported.

It is next to the apartment block where the Samadi Trust cancelled its off the plan sales to prior buyers. 

Some of the apartments are currently <a href="https://www.realestate.com.au/property-apartment-nsw-surry+hills-126103530" target="_blank">for sale through BresicWhitney.</a>

 
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ACA exposes Ash Samadi allegedly owing nearly $1 million on Surry Hills project

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Revalu8, a Queensland startup that calls itself the “Uber of real estate”, has sunk into liquidation less than a year after launch.
Creditors decided to wind up the Queensland startup and appoint a liquidator at a meeting last week, with a software company that was developing its online platform owed more than $486,000 out of total debts of $687,938, according to the Business Insider.
The company also owes $13,000 to Broadband Solutions and $11,000 to the Australian Taxation Office. In addition,  OLJ Capital was listed in the creditors meeting as being $120,000 out of pocket
Revalu8 was launched last June with $1.5 million in seed funding.
Its mission was to connect buyers and vendors of residential real estate and bring transparency to the industry. The site contained comparison tools for potential buyers, as well as promising complete transparency on transactions and negotiations between the buyer and the vendor.
“The accepted practices of advertising and selling real estate in Australia favour the advertiser, agent and then the seller, while the buyer is almost forgotten – despite it being the buyer’s money,” founder and chief executive Chris Bilborough said at the time. 
“ReValu8 will bring a new level of transparency to the industry to empower purchasers – in particular first-home buyers and investors – to be able to make an informed decision… ReValu8 also gives buyers a fair share of fees that would otherwise go towards advertising costs and agent commissions.”
While the Revalu8 website is currently still running, filling in a contact form to “join the revolution” results in an error, according to the Business Insider. The company Twitter account has not been active since August.
The company’s website still says, ‘The Uber of real estate has arrived’ and says the company shares the sales commission when a property is sold.
The notice to place the company in liquidation was resolved on March 20.
There was no comment from liquidator Worrells and Revalu8.
According to CRN, a dispute between the startup’s directors and the software development firm Agile Software Services saw the developer withdraw Revalu8’s access to the programming code.
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jonathanchancellor-7SQnKwU6yx

Disruptor property startup in liquidation, owes $688,000

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The Pumpkin Patch receivers have begun closing the company's stores, with seven in New Zealand first to go.
The collapsed children's clothing retailer was placed in voluntary administration having debts of $NZ46 million ($43 million).
Pumpkin Patch was operating 43 stores in New Zealand before the closures in Posonby, Takapuna, Henderson, Te Rapa, Wanganui, Coastlands (branded as Charlie &amp; Me), and Hornby.
The 57 employees who lost their jobs will receive entitlements to the gross value of $NZ22,160. The stores will wind up trading by November 8.
Pumpkin Patch operates 117 stores in Australia, which are all continuing to trade on a business as usual basis.
Receiver Brendon Gibson said on Friday no stores closures in Australia have been confirmed.
Gibson previously suggested to SmartCompany the receivers will “be looking at accelerating” stores closures.
The receivers are seeking expressions of interest in the Pumpkin Patch business and its assets by November 8.
Included in the sale are the business’s trading activities, inventory, customer list, websites and intellectual property.
 
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Pumpkin Patch stores closing in New Zealand

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Bob Day, the Family First senator, has tendered his resignation effective immediately.
Day tendered his resignation to Senate President Stephen Parry this morning after his home building company went into liquidation.
“It has been an honour and a privilege to serve as a Senator for South Australia and I am sorry it has ended this way,” he said.
“I will now devote my time and energy to assisting those who have been affected by the company’s closure.”
In a statement, he said that potential investors would not be financing his Home Australia company.
"While a number of offers for various parts of the Home Australia business have been received, the major investor who has been examining the group's portfolio of assets over the past fortnight, has decided not to proceed," he said.
"Accordingly, I have today tendered my resignation to the president of the Senate effective immediately. It has been an honour and a privilege to serve as a senator for South Australia and I am sorry it has ended this way."
Day's company, Home Australia, was put into liquidation owing about $38 million to creditors. It also left around 200 homes unfurnished.
He said will now work to assist those affected by the closure of the company.
Day's former chief of staff Rikki Lambert has confirmed he will put his hand up for the vacant position.
 
 
 
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Home builder Senator Bob Day tenders his resignation effective immediately

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Liquidators have been appointed to Home Australia, with customers whose homes are under construction by any builders in the group urged to contact the insurer per the Insurance Certificate issued with their home building contract.
Construction on 207 properties around the country has been put on hold.
Home Australia is owned by Family First senator Bob Day, who has announced his resignation from Federal Parliament.
Home Australia operates in five Australian States under the brands:
<ul>
<li>Homestead Homes in South Australia (new homes presently under construction – 48); 
</li>
<li>Collier Homes in Western Australia (new homes presently under construction – 29); 
</li>
<li>Newstart Homes in Queensland (new homes presently under construction – 17); 
</li>
<li>Ashford Homes in Victoria (new homes presently under construction – 57); and 
</li>
<li>Huxley Homes in New South Wales (new homes presently under construction – 56).</li>
</ul>
Liquidators McGrathNicol said in cases where no Insurance Certificate has been issued, customers may have a claim against the relevant Home Australia entity which they contracted with.
"The Liquidators’ immediate objective is to work constructively with relevant insurers and customers in an effort to facilitate the orderly recommencement of construction of uncompleted homes by alternative builders. We will communicate with customers in writing in the coming days," McGrathNicol said.
"In accordance with the Liquidators’ duties, the financial affairs of Home Australia will also be investigated so that the Liquidators may report to creditors and to the Australian Securities and Investments Commission.
"The Liquidators’ invite parties interested in acquiring the businesses and/or assets of Home Australia in whole or in part to contact McGrathNicol on (03) 9038 3100.
"Meetings of creditors for each entity must be held within 18 days of the appointment of liquidators. The meetings of creditors will be convened for 4 November 2016 or earlier. Meeting notices setting out times and locations will be distributed to Home Australia’s creditors and customers at least seven days in advance of the meetings."
<a href="/images/2016/10/17/Annexure%20A.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/17/Annexure%20A.jpg" alt="">
Information for customers and creditors will be uploaded to the McGrathNicol website <a href="https://www.mcgrathnicol.com" target="_blank">here</a>.
 
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