<a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a> has announced that its <a href="https://www.apartments.com.au/new-townhouses/lovedale-farm-1054-1184-wine-country-drive-lovedale-nsw-2325">Lovedale Farm</a> residential, resort and golf project has secured $24.6 million in sales in just three weeks since the opening of its display home, underscoring the appetite for premium lifestyle property in the Hunter Valley countryside.

The sales milestone has been driven by a diverse mix of buyers, including owner-occupiers and investors from Sydney, Newcastle and the local Hunter region, purchasing both land-only lots and house and land packages across the development.

<img alt="Lovedale" data-entity-type="file" data-entity-uuid="e173edc9-e60e-4f19-a060-9dc4421a3233" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/LovedaleFarm_20250215-1.jpg?VersionId=1LY6CvOaD.Dzrt8tWpWxXtPyfchixNIo" />

&nbsp;

The result builds on the momentum generated at the display home opening on 22 March, which attracted more than 460 attendees.

With house and land pricing from $1.14 million, Lovedale Farm continues to attract strong interest from buyers seeking a premium lifestyle offering at a compelling price point. The development’s vision, a championship golf course, future epicurean village and access to the Hunter Valley’s celebrated wine country, has resonated with a broad buyer profile, from first-time investors to those looking to make the move and call the Hunter Valley home.

<img alt="Lovedale Farm records $21.4 million in sales in three weeks" data-entity-type="file" data-entity-uuid="b358e789-e1eb-40ed-8105-ed5c8297136f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/20260321LovedaleFarmDisplayHomeOpening--6.jpg?VersionId=6GUO8TNnxuELONrsM6n9imDB6oc82Bor" />

Jim Hunter, Managing Director of Capital Corporation said the response since opening the display home has been encouraging.

"To reach $24.6 million in sales in just three weeks speaks to the genuine demand for a lifestyle community of this calibre in the Hunter Valley," Hunter says.

"We’re seeing buyers from across the region and beyond, including investors who recognise the long-term value, and owner-occupiers who simply want to live somewhere truly special.

“Lovedale Farm is two decades in the making, and the market’s response is everything we hoped for. We’re excited to see these first buyers become part of the Lovedale Farm story from the very beginning."

<img alt="Lovedale" data-entity-type="file" data-entity-uuid="54d985cf-2ac2-400b-ac02-4401f3421ac7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/20260321LovedaleFarmDisplayHomeOpening--5.jpg?VersionId=3866bPoqpLZsm.3ACg9EafAr1W3miC_f" />

&nbsp;

Spanning 240 hectares on Wine Country Drive in <a href="https://www.apartments.com.au/developments/lovedale-nsw-2325">Lovedale</a>, the $1 billion development is expected to deliver around 1,250 jobs during construction and inject more than $300 million into the local economy. The first 200 homes and championship 18-hole golf course are anticipated for completion in late 2027.

Capital Corporation has also lodged development plans for the Lovedale Farm clubhouse, set to become a vibrant hub for residents and the wider Hunter Valley community. Further releases are planned for later this year.

[smartcode_project_cta:default project_id=14476]

Joel Robinson

Lovedale Farm display home opening triggers $24.6 million in sales in three weeks

Prominent Malaysian developer <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a> has unveiled <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">Aura</a>, the next stage of its $3.5 billion Melbourne Square precinct in Southbank, continuing its push into wellness-led, amenity-rich apartment living.

The $800 million tower, planned for 7 Hoff Boulevard, will rise 67 storeys and deliver 673 apartments, with COX Architecture drawing on both Japanese design principles and Australia’s natural landscape to shape the building’s identity. A rectangular grid aesthetic defines the building’s exterior, with COX drawing design cues from New York high-rises and Tokyo’s skyline.

Aura builds on a growing trend in high-density living, where wellness is no longer an add-on but central to the product. The development is structured around four key pillars, combining calm, minimalist residences with layered communal spaces, landscaped gardens, and a suite of wellness amenities designed to support both physical and mental wellbeing.

[smartcode_project:default project_id=151921 project_image_fid=367465]

At the core of the project is what OSK describes as a vertical wellness ecosystem, a multi-level approach to amenity that integrates health, lifestyle, and social spaces throughout the building rather than confining them to a single level.

The main resident hub, the Aura Club on level seven, will include a pool, cold plunge, spa, gym, Pilates and yoga studios, alongside more lifestyle-driven inclusions like a golf simulator, music rooms, library, and work-from-home spaces. Above, a series of higher-level amenity zones, including the Meridian Club and Cumulus Club, introduce more refined, social and retreat-style environments, with private dining, lounges, and premium wellness spaces positioned to take advantage of city views.

[smartcode_project:default project_id=151921 project_image_fid=367467]

The residences themselves will largely include balconies, a key design move in a market increasingly focused on natural light, airflow, and connection to the outdoors. Views will extend across the CBD, the Arts Precinct, Royal Botanic Gardens, and beyond.

Aura also introduces approximately 1,600 sqm of retail across the lower levels, further activating the Melbourne Square precinct, which already includes Kennedy Park, a Woolworths, childcare, and a growing mix of hospitality operators.

[smartcode_project:default project_id=151921 project_image_fid=367474]

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after <a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>," says&nbsp;OSK Property CEO Chong Boon Woon.

“We have been very encouraged by the market’s response to the BLVD offering, and we know there is a strong demand for the level of amenity, service and design that the Melbourne Square precinct is known for.

“Complemented by work-from-home lounges for professionals, family friendly outdoor garden spaces, and state-of-the-art fitness and wellness facilities, Aura will continue our focus on maximising physical, emotional, and mental wellbeing,” he said.&nbsp;

[smartcode_project:default project_id=151921 project_image_fid=367475]

The project follows the strong performance of BLVD, which is now around 80 per cent sold, and reinforces OSK Property’s long-term commitment to Melbourne Square as a fully integrated, mixed-use precinct.

Construction is expected to commence in late 2026.

[smartcode_project_cta:default project_id=151921]

OSK unveils AURA, the latest stage in Southbank's $3.5 billion Melbourne Square precinct

National developer Time &amp; Place appears to have settled on a design for its long-anticipated Potts Point project.

After several years of back and forth with local council and the NSW Government, the developer, which has spent seven years targeting the former The Chimes site on Macleay Street, has now progressed its plans.

Following a concept design submission last year by SJB, Time &amp; Place has lodged a full State Significant Development Application with the NSW Government, this time for a scheme designed by Kerry Hill Architects.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="504d2a27-d65f-4227-8189-1e35e3376e62" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.38.24%E2%80%AFAM.png?VersionId=_XqFKATYHF30KnVByPxhaI9UBzmkmfn7" />

The 16-storey proposal includes 44 apartments, 21 of which will be build-to-sell. These will comprise 19 three-bedroom apartments and two four-bedroom units.

More than 50 per cent of the development will be dedicated to affordable housing, with 23 studio apartments to be delivered in line with the NSW Government’s Housing SEPP.

Kerry Hill Architects said the proposal is driven by a strong response to place.

“Our proposal for a new residential building for Potts Point in Sydney is driven by a deep consideration of place,” the practice said in its submission.

“This operates on multiple levels, including a landscape approach that reinstates endemic flora of the Sydney peninsula and provides a ground-floor garden for residents, reconnecting the site to its pre-European history. A brick podium further strengthens this relationship to context, integrating planting and fine bronze detailing that references the predominant material language of Macleay Street.”

The three-level podium will be topped by a communal resident space, featuring a covered pool designed to receive direct afternoon sun in winter, a neighbouring reflection pool, dining and event areas oriented to maximise sunset views, and an outdoor exercise zone.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="8d3eedc1-babb-44a3-bd96-d8a42f3adf1f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.37.48%E2%80%AFAM.png?VersionId=Ii7.4dvqNatu5GQi6bhqNjAswrMB998." />

The design also incorporates highly crafted shopfronts and a clearly defined residential entry to activate the street. Juliette balconies to the podium residences will provide passive surveillance and a strong sense of habitation.

Above, the larger apartments are housed within a light-coloured masonry and bronze tower.

“The tower steps back in a series of gently curved volumes that reference the rich Art Deco context of Macleay Street,” the architects said. “Carefully calibrated vertical fins frame the views while providing privacy and a sense of refuge.”

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="6fab60f4-3140-4469-b47a-48c781e0a30b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.28.44%E2%80%AFAM.png?VersionId=e5XxrM3kzdASdKlcIACHAHbOSZhSKC9O" />

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in South Melbourne.

The developer has approval for The Burke, a mixed-use project in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;being delivered in partnership with Woolworths. The 60 apartments, positioned above a new Woolworths supermarket, are expected to launch in the coming months. Time &amp; Place is also progressing plans for the redevelopment of&nbsp;<a href="https://www.apartments.com.au/developments/northcote-vic-3070">Northcote</a>&nbsp;Plaza, and have recently submitted plans for a <a href="https://www.apartments.com.au/news/vic/time-place-unveils-plans-22-storey-south-melbourne-tower">22-storey tower</a>, another in South Melbourne.

In&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw">Sydney</a>, the developer has two projects in Manly: Two Tides, which is currently under construction, and an ultra high-end building on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach. It is also continuing to work through the redevelopment of The Chimes building on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as Marlborough House, the redevelopment of the original David Jones warehouse building in&nbsp;<a href="https://www.apartments.com.au/developments/surry-hills-nsw-2010">Surry Hills</a>.

First look: Time & Place settles on design for The Chimes, Potts Point redevelopment

<a href="https://www.apartments.com.au/developers/develotek">Develotek</a> is joining the likes of TOGA, Deicorp, and One Global Capital, betting on a boom in Five Dock ahead of the 2032 mooted opening of the Five Dock Metro Station.

Develotek, which is currently developing Bianca on the Drummoyne waterfront and has plans approved for a tower in Chatswood, has filed a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/79-81-queens-road-five-dock-nsw-2046">two-building project in the evolving Kings Bay precinct</a>.

The buildings, one more boutique just five storeys and the other 26 storeys, will rise from an 3,158 sqm site across&nbsp;79–81 Queens Road and 2–8 Spencer Street, will home 134 one-, two-, and three-bedroom apartments, above ground-floor retail and five basement levels of parking.

A key component of the proposal is the inclusion of 15 per cent of residential floor space as in-fill affordable housing, unlocking additional height and density under the Housing SEPP.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="3ee31bf7-75ba-4bc5-b190-49885193219f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_2.png?VersionId=730UbrduuwK3C1sO28RHjiLPUPqXqjkh" />

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, the scheme adopts a podium-and-tower configuration, with a five-storey street wall along Queens Road transitioning to a 26-storey tower set deeper into the site. The ground plane prioritises activation and permeability, with retail frontages and a new through-site link connecting Queens Road to Spencer Street.

At the upper levels, the tower façade has been conceived using a modular system to support prefabrication and reduce construction waste, while improving build efficiency. The splayed form draws on the geometry of surrounding industrial rooftops, reinterpreting the area’s heritage in a contemporary expression while also helping to reduce solar heat gain to east and west-facing apartments.

“This project aspires to transform a former industrial site into a connected, resilient and people-focused urban community, grounded in Country, shaped by history, and designed to enrich everyday life within the evolving Kings Bay Precinct,” said John Walsh, Principal at Plus Studio.

The proposal reflects the broader transformation of the Kings Bay Precinct under the Parramatta Road Corridor Urban Transformation Strategy, marking a shift from its industrial past to a higher-density, mixed-use urban neighbourhood.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="abde734c-1e31-4a97-a1d2-fa9bcf31c380" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/building%20podium.png?VersionId=fNUupP6u146yEytQT31kKVRxwtACgPpP" />

Develotek is emerging as an active participant in the state’s affordable housing-led uplift pathway. The developer recently secured approval for a 34-storey mixed-use tower in Chatswood, where it similarly leveraged the in-fill affordable housing provisions to increase scale and deliver a 101-unit scheme with dedicated affordable apartments.

Their entry into Five Dock places them alongside a growing list of developers targeting the suburb ahead of its anticipated transport uplift, with Sydney Metro set to extend into the area. Major players including TOGA, Deicorp, and One Global Capital are all progressing large-scale precinct-style developments nearby, collectively reshaping the low-rise industrial fabric into a higher-density mixed-use corridor.

The Five Dock site sits within the Kings Bay Precinct, a key renewal area under the Parramatta Road Corridor Urban Transformation Strategy, where planning controls support significant uplift tied to affordable housing delivery. The consolidated 3,158 sqm site is currently occupied by low-rise industrial uses, including warehouses and vehicle workshops, earmarked for transition.

First Look: Develotek joins in Five Dock apartment boom

Ascot’s Racecourse Road continues to be a hive of activity for Brisbane developers.

Following Fortis and GRAYA, which are both preparing new projects along the key strip connecting Kingsford Smith Drive and Eagle Farm Racecourse, local developer <a href="https://www.apartments.com.au/developers/skyhold">Skyhold</a> is the latest to lodge plans for its own development.

The group is proposing One One Two Residences, a boutique project comprising just seven apartments, named after its address at 112 Racecourse Road.

The proposal outlines a five-storey building on an 810 sqm site. The built form slightly exceeds the four-storey expectation under the neighbourhood plan, aligning instead with the emerging character of the strip. As the planning report notes, “the locality is characterised by a transition toward medium-rise residential development, with a number of recent developments… above the stipulated height limits.”

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="ec577631-8c51-4163-960e-e7b3a77d655b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot.png?VersionId=iAzQ46D4Uu1UqiS0mVnlcy9jeFKBpJIj" />

Designed by 111 with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/paul-bangay-garden-design">Paul Bangay Studio</a>, the scheme adopts a layered architectural approach with strong articulation and a subtropical response. Deep balconies, integrated planters, and a mix of masonry and textured finishes define the façade, while upper-level setbacks reduce perceived bulk. The architectural statement describes “a series of horizontally expressed layers, defined by deep balconies and a consistent robust material palette,” aimed at delivering a refined streetscape presence.

Apartments are configured as large-format residences, including multiple three-bedroom layouts and a full-floor penthouse, supported by ground-level parking. A rooftop terrace will provide communal amenities including a pool and landscaped recreation areas. The design prioritises privacy, natural ventilation, and greenery, with planting integrated across all levels to soften the building form and contribute to the public realm.

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="1e1219bd-b45a-4d7f-bbc7-7207d7b2fc94" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot%20entry.png?VersionId=JIoUOLMgQ5xWpEF0etEI3ffIoIVjD7gO" />

The proposal sits within the Racecourse Road precinct, a key mixed-use spine in Ascot that continues to attract renewed development interest.

Later this year national developer Fortis will launch its own boutique development, which, pending council approvals, will be 16 apartments designed by Koichi Takada Architects, just down the street.

“Racecourse Road is going through a massive revitalisation and we’re proud to be a part of that transformation,” said Fortis's QLD General Manager, Dan Boman.

Nearby, GRAYA is advancing its larger-scale The Gallery, a mixed-use shop-top housing project designed to act as a “catalytic project for Racecourse Road.”

First Look: Racecourse Road, Hamilton revitalization to continue as Skyhold joins the party

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.
<div title="Page 5">
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.
<div title="Page 5">
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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