Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Joel Robinson

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;

Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;

"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;

"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365782]

Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;

“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;

"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365785]

Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;

Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;

Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;

Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365767]

A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;

Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;

"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;

[smartcode_project:default project_id=108274 project_image_fid=365771]

Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;

"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;

"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;

There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.

[smartcode_project_cta:default project_id=108274]

Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

National property developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has appointed BINAH as its construction partner for Quartet, its new Brisbane apartment development in the undersupplied suburb of <a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>.

Located just two kilometres from the Brisbane CBD and moments from key 2032 Olympic precincts, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet</a> will deliver 131 one, two, three, and four-bedroom apartments priced from $1 million to $4.2 million, combining elevated design with a wellness-focused lifestyle offering.&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=368000]

Goldfields’ Chief Executive Officer, Lachlan Thompson, said the appointment of <a href="https://www.apartments.com.au/builders/binah-constructions">BINAH</a> marked an important milestone for the project.&nbsp;

“Bringing BINAH on board as our construction partner will allow us to bring our vision for Quartet forward with a team that has a proven track record of delivering high-quality residential projects,” Thompson said.&nbsp;

“We’ve taken a considered approach to progressing the site because we wanted to deliver the whole package. Buyers ultimately back great developers, great projects and great builders, and with Quartet, we’ve made sure all three line up.

“People want certainty, they want to know the project will be built, that the homes will be delivered as promised, and that the developer stands behind the quality of what they create. That’s something Goldfields has built its reputation on over many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367993]

BINAH’s Managing Director, Khalil Hafza, said the company was proud to be partnering with Goldfields to deliver Quartet.&nbsp;

“Quartet is an exciting project to bring to life, particularly given the level of detail in the residences and the extensive rooftop amenity planned for the building,” Mr Hafza said.&nbsp;

“Our focus is on delivering a high-quality build that brings that design vision to life and creates homes residents will enjoy for many years.”&nbsp;

[smartcode_project:default project_id=108736 project_image_fid=367999]

The facilities at Quartet have been feared towards the roof, with a&nbsp;25 metre lap pool, spa, sauna and cold plunge, and a communal barbecue area and alfresco.

Town planning was designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by Melbourne-based architecture firm Cera Stribley.

<a href="https://www.apartments.com.au/interior-designers/cera-stribley">Cera Stribley</a> Co-Founder and Managing Principal, Dom Cerantonio, said the project responds to both its riverside setting and Brisbane’s evolving urban character.&nbsp;

“Quartet has been designed to sit comfortably within its riverside context, offering a refined take on urban living through well-planned, generously proportioned residences that will stand the test of time,” Mr Cerantonio said.&nbsp;

“An emphasis on natural light, natural textures and carefully selected finishes from timber and marble to premium appliances, creates calm, considered interiors designed for comfort and long-term liveability.”&nbsp;

Construction of Quartet will commence in July 2026, with completion anticipated in Q4 2028.

[smartcode_project_cta:default project_id=108736]

Construction to commence on 131-residence tower designed around wellness-focused living

Goldfields appoints BINAH for Quartet apartments in Milton

Mcgrath

<html><body>
Having announced a potential earnings downgrade of up to 25 percent, shares in real estate company McGrath have tumbled in ASX trading this morning.
There has been some consolidation in the last hour, bouncing up from its record 45 cent low earlier in the day to a slightly more stable, 51 cents.
The shares dipped from closing at 61 cents on Friday. It was a $2.10 share on listing.
<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/2017/11/7/McGrath%20shares.jpg" alt="">
The stock exchange was told company does not expect to reach Bell Potter's estimate of $16.6 million EBITDA for the 2018 full year. It is not the first profit downgrade for the listed estate agency.
In a statement today the McGrath agency said the company has completed the first four months of trading for FY18 but has fallen short of expectations at both the revenue and EBITDA levels.
"The underperformance is largely in company owned sales and is influenced by several factors including continued lower volumes of listings in most markets they serve, lower agent numbers and a significant slow‐down in the traditionally volatile project marketing segment," the statement read.
<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/2017/11/7/McGrath3.jpg" alt="">
<div title="Page 1">
It noted McGrath has completed the first four months of trading for FY18.
"The underperformance is largely in Company Owned Sales, and is influenced by several factors including continued lower volumes of listings in most markets we serve, lower agent numbers and a significant slow‐down in the traditionally volatile Project Marketing segment.
"Government policy changes around foreign buyers and developers coupled with tightened lending requirements have particularly affected this segment."
It said its Franchise and Property Management businesses are performing largely at expectations, and both have new management with significant relevant experience.
McGrath has not given earnings guidance for FY18, but notes equities research by Bell Potter which gives a full year estimate of $16.6 million EBITDA.
"The Board believes it prudent to assume continued subdued market conditions, especially in Project Marketing.
"Accordingly, it is assessing a range of measures including the optimal level of cost reductions, balancing shareholder earning requirements with longer term objectives.
"McGrath is committed to maintaining market leading service to vendors, landlords and borrowers, while improving its service to its franchisee partners and agents.
"In order to deliver a result that would align with forecasts in the market of $16.6 million EBITDA in FY18, we would be required to make significant cost cuts that may not be in the best interests of the business in the long term.
"We do not believe that is in the best interests of McGrath or its shareholders."
<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/2017/11/7/700_john.jpg" alt="">
Balancing short and long term objectives, the Board and Executive are finalising a Plan which:
Recognises that the M&amp;A activity anticipated at the time of its 2015 listing on the ASX is unlikely to eventuate;
Recognises that the current market environment does not support expansion of Company Owned Offices in the near term;
Continues to support and strengthen the Franchise and Property Management businesses as they are;
Allows for appropriate cost controls resulting from the above factors, while not damaging the long term prospects for the business.
The Board and CEO will have progressed this work and will update investors at the upcoming AGM.
The preliminary plan, which will be discussed with major shareholders between now and then, is to remove $5 million of annualised costs from the business at a one‐time restructuring cost of $1.4 million to $1.6 million.
Most of these savings will be achieved by restructuring the Board, Executive and Leadership Team, removing management associated with M&amp;A and Company Owned Office expansion activities and non‐revenue generating roles across the organisation.
"Our objective is to at least maintain, if not improve, service delivery to our Sales Agents, Property Managers and Principals."
“We are one of Australia’s largest residential real estate services companies and we continue to leverage the underlying strength of the McGrath brand, quality of its sales agents and network reach”, McGrath CEO, Cameron Judson said.
“Our aim has been to grow the relative contributions of each of our annuity businesses in Property Management, Franchise and Oxygen and de‐risk the volatility of our earnings in Project Marketing and Company Owned Sales.”
He noted the short term imperatives demanded of a listed real estate services company are often at odds with long term capacity building and market share growth.
At the level of cost out contemplated above, FY18 earnings could be 20% to 25% lower than the current analyst estimate, due to high restructuring charges and a partial year of cost savings.
</div>
</body></html>

jrobinson-rf4aSBido9

McGrath shares tumble after 25 percent earnings downgrade possibility

<html><body>
Jordan Andonovski is the latest McGrath agent to head over to The Agency.
Andonosvki, who's regional real estate business has dominated the Illawarra region of NSW, has spent the last eight years at McGrath.
Last financial year the Wollongong office was ranked the second top regional office, and Jordan Andonovski the 20th top sales agent, in the entire McGrath Estate Agents network.
The Illawarra operation sold around 400 properties in 2016.
The McGrath Group had signalled there was a dispute with the franchises in the Illawarra region last week.
Partnering with The Agency, Jordan Andonovski brings a team of 52 staff and approximately 800 properties under management.
In conjunction with this partnership, a number of new agents have signed on to Jordan’s operation, including high-profile agent and auctioneer Justin Sydenham, formerly of Bevans Thirroul.
Matt Lahood said Andonovski embodies the type of people we want in our business.
"Client focused, staff focused and passionate about delivering the best service via the best platforms," Lahood said.
"A local all his life - the town, his team and the community mean an enormous amount to Jordan and we want to support him, support his community.
"Jordan's business joining our business marks a strong ethical alignment."
Andonovski said he is excited to join a growing brand.
“Joining The Agency, our business has joined forces with an elite group of professionals, this signifies new energy and we are focused on giving our clients and employees the best experience on a professional level,” he said.
“The Agency is a growing brand, yet it retains a stylish and boutique feel in its marketing. It provides us with a flexible environment where we can market and run our business in the most responsive way to local demand.”
Last week 23 year McGrath veteran Michael Glynn left the company for The Agency.
 
 
 
 
 
</body></html>

Another McGrath defection as Jordan Andonovski joins The Agency

<html><body>
The McGrath Estate Agents network has decided to terminate its franchise agreements for its three Illawarra offices in Wollongong, Shellharbour and Thirroul.
They close on October 23 after McGrath’s head of the franchise network, Christopher Mourd, said the closures are due to a dispute.
“This is an unfortunate situation between two partners of a McGrath franchise, resulting in a dispute between the two franchisees,” said Mourd.
"While we have tried to help resolve the issue and have encouraged mediation, we now have no choice but to terminate the franchise agreements.”
Mourd said McGrath was still securing other franchise partners.
“We continue to believe that the region offers a highly desirable lifestyle choice for Sydney commuters, downsizers and holiday-home buyers.”
McGrath has operated in the Illawarra area south of Sydney since 2009.
</body></html>

j.ballantyne1990-6AQqhLzZaK

McGrath seeks new Illawarra franchise offices

<html><body>
The Agency has expanded its national operation into Queensland with veteran local agent John Natoli holding a key role in the brand’s soon-to-be-opened Broadbeach, Gold Coast office.
John Natoli is a highly awarded agent, including the REIQ’s Gold Coast Salesperson of the Year from the mid-1990s.
<a href="https://propertyobserver.com.au/forward-planning/investment-strategy/property-news-and-insights/76198-shark-loving-estate-agent-john-natoli-calls-time-at-mcgrath-surfers-paradise" target="_blank">The local paper</a> had recently advised that the veteran Surfers Paradise agent John Natoli had told clients on his departure from McGrath that he intended to pursue his passion for underwater photography. He didn't rule out a return to property sales.
His clients include the founders of Smorgon Steel, the Smorgon family and motorcycle legend Mick Doohan. “John Natoli brings a wealth of knowledge to The Agency’s Gold Coast operation, he is the foremost authority on the Gold Coast’s prestige market,” says Matt Lahood, CEO The Agency. John Natoli has previously worked closely at McGrath with The Agency’s CEO Matt Lahood and its now the director of sales/chief auctioneer Thomas McGlynn and The Agency’s James Ledgerwood.
"The re-unification of this record-breaking team is incredibly exciting for The Agency," Matt Lahood said.
John Natoli will be joining agents Paul and Charmaine Ledgerwood and The Agency’s Projects team in the Broadbeach office, located in the The Wave building. “I’m very excited about embarking on the same process that we began seven years ago launching McGrath," Natoli said.
"But this time, we benefit from all the learnings and will streamline the process. It was an amazing period of growth and I look forward to this new opportunity with The Agency,” explains John Natoli.
“Watching The Agency in the market, I have been impressed and like what I see – the growth, the ethos and the new way The Agency is doing business.”
Along with sales, John Natoli will be focusing on the mentoring and training of the next generation of agents joining the The Agency team, a challenge John highly anticipates, “I am now in a position where I can share my experience and knowledge with others, another exciting step!”.  With a high proportion of properties on the Gold Coast sold to Melbourne and Sydney-based purchasers, The Agency’s national referral network will assist Natoli.
The McGrath agency pointed out to The Australian that it has over 2300 people in its network with 936 in its sales team.
“All businesses see movement within management and staff and the real estate sector is no different," a spokeswoman said.
“In recent times, McGrath has been fortunate to not only attract key management to positions within the company, but has also seen many return to us, which is reflective of our culture.”
 
</body></html>

jchancellor-FAypfDUnLy

John Natoli joins The Agency on the Gold Coast

<html><body>
 The high-profile Sydney Inner West agent Michael Glynn has moved to The Agency, which claims to be Australia’s fastest growing agency network.
It comes after <a href="https://www.realestate.com.au/agent/michael-glynn-68688" target="_blank">23 years with McGrath</a> Estate Agents.
"Michael has an uncanny ability to calmly and confidently guide his clients to the best outcome and is renowned for these results,” Matt Lahood, CEO The Agency said.
Michael Glynn has focused on Sydney’s high-end, western inner city fringe markets, responsible for selling some of the most expensive and historically important homes within these postcodes such as Glebe.
Glynn said The Agency presented an exciting path with the view of delivering a better level of service to the market.
"I knew my clients would respond to and benefit from this service,” Michael Glynn says.
“I’ve worked with many of the people behind and at the forefront of the business, and so I have the confidence and belief that we can work in a meaningful, positive and genuine way together.”
According to Michael Glynn, many companies pay lip service to collaboration but in reality agents end up siloed.
The Agency strongly encourages referrals between agents, Lahood said.
“We have many agents who have never worked together before sharing referrals and even co-listing.
“This is The Agency’s culture – supportive, collaborative and cohesive – and it is how we deliver the best service to clients and give agents the best experience.”
The announcement follows the decision of Bethwyn Richards to leave McGrath for The Agency which is expected to be announced later this week.
The Agency is part of Ausnet Financial Services, formerly Namibian Copper which provides finance broking, real estate services, settlement services, property management, project marketing, insurance and financial services.
It was initially based just in the Western Australian market with an aim to be rolled out nationally.
After relisting on the ASX late last year it is trading at just below its 2 cents issue price with a $10 million market cap.
</body></html>

Michael Glynn quits McGrath for The Agency

<html><body>
The mooted departure of McGrath agent Bethwyn Richards to The Agency is expected to be formally announced today.
Specialising in Sydney’s beachside suburbs from Bondi to Coogee, Bethwyn Richards, who has a who's who client list, had some loose ends to tidy up which meant her much delayed exist.
She takes with her a client book built up over the decades that includes Deb Hutton, Anthony Bell, Peter Overton and Jessica Rowe, Mark Carnegie, cricketers Shane Watson and David Warner and the former Swans coach, Paul Roos.
One of her recent sales was when the Footy Show's Erin Molan bought.
One of her most celebrated sales was the Bronte home of the late Heath Ledger. She sold the Bayview Street home overlooking the beach for $7 million after it traded for $4.45 million just two years before.
With the backing of mortgage broker John Kolenda, and Ausnet Financial Services, she joins other veteran McGrath agents who've launch as The Agency including Matt Lahood and Ben Collier.
The McGrath rebels teamed together last month selling their combined near 15 per cent stake for 65¢ a share to institutional investors.
Beth­wyn Richards joined the sell-off.
The group, which was headed by the former chief operating officer Geoff Lucas who had a 4.3 per cent stake, had hoped their block trade would attract a premium offering, but instead settled for deal struck at a discount below the 73 cent closing price.
The sale was less than one-third of the $2.10 a share the company was floated at in December 2015. Stock worth $42.8 million at the time of the float changed hands at $13.2 million.
The block was held by well-known agents including Ben Collier, Shad Hassen, Matt Lahood and Brad Gillespie, former McGrath agents who now work for The Agency.
The escrow condition had prevented the former McGrath insiders from offloading their shares since it listed in December 2015 at $2.10 a share.
This article was first published in the Sunday Telegraph.
 
</body></html>

Real estate agent industry turmoil continues

<html><body>
McGrath Limited has announced the appointment of Glynn Wright as its chief financial officer.
Wright joins McGrath from Bras N Things, where he held the positon of CFO and, before that, from Woolworths Limited, where he was head of finance transformation.
Wright is a qualified chartered accountant and brings extensive experience in strategy, planning and transformation.
The current CFO, Paul Hauenschild will remain with McGrath to provide an appropriate handover to Wright. The board thanked Hauenschild for his contribution over more than 10 years, including assisting the company through the period of its initial public offering. 
<h4 class="heading"> </h4>
</body></html>

Glynn Wright replaces Paul Hauenschild as McGrath CFO

<html><body><div class="cq-article-content-paras section">
The listed fund managers Perpetual and Argo have lifted their stake in real estate group McGrath, acquiring shares offloaded by rebel former company executives and sales agents.
Perpetual Limited, the biggest institutional backer of McGrath, acquired an additional six million shares on Tuesday taking its overall stake to 14.16 per cent from a previous 10.05 per cent.
Third ranked Argo Investments increased its stake to 7.18 per cent from just over 5 per cent on Tuesday after the escrow period lapsed.
John McGrath remains as the top shareholder.
Both bought shares at 65 cents, a third of McGrath's $2.10 a share December 2015 IPO value
Shares in the company traded Thursday at 64 cents. 
</div></body></html>

McGrath's two major institutional shareholders take more equity

<html><body>
The McGrath rebels ended up selling their combined near 15 per cent stake yesterday for 65¢ a share to institutional investors.
The listed agency had faced the prospect of alleged activist investors picking up the stake but the stock was instead placed with Australian institutions who likely back the group’s management.
The sale was handled stockbroker Wilsons, which last week lodged a substantial shareholding notice for a 14.66 per cent McGrath holding.
The sale was less than one-third of the $2.10 a share the company was floated at in December 2015. Stock worth $42.8 million at the time of the float changed hands yesterday at $13.2 million.
The group, which included former chief operating officer Geoff Lucas who had a 4.3 per cent stake, had hoped their block trade would attract a premium offering, but instead settled for deal struck at a discount below the 73 cent Monday closing price.
The block was held by well-known agents including Ben Collier, Shad Hassen, Matt Lahood and Brad Gillespie, former McGrath agents who now work for The Agency.
The escrow condition had prevented the former McGrath insiders from offloading their shares since it listed in December 2015 at $2.10 a share.
Another of the holders, Beth­wyn Richards, currently works for McGrath, while Geoff Lucas has since moved to ­artisan bakery group Sonoma.
Shares hit a low of 54¢ in June, but lifted recently as there was talk of private equity firms circling.
Mr Lucas, who left McGrath in August last year after a seven-year stint, told The Australian Financial Review that as an investor he had to be properly aligned with the board, management and strategy of the company he invested in.
"I can't say [the McGrath] strategy is satisfying me at the moment," he said.
</body></html>

McGrath rebels sell at 65 cent with swipe from Geoff Lucas on departure

<html><body>
Trading in McGrath shares were without fanfare this morning despite speculation there could be some serious activity today.
There were just four small trades in the first two hours.
Any block trade was likely to come after the trading closed, after market today, rather than as massive special.
Despite the perceived overhang, the share price has gone up a touch in recent days. 
TRADING SUMMARY
<a href="https://www.propertyobserver.com.au/images/2017/09/08/Screen%20Shot%202017-09-08%20at%2012.07.11%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/08/Screen%20Shot%202017-09-08%20at%2012.07.11%20PM.png" alt="">
A block trade, which is being handled by stockbroker Wilsons, was to become available for purchase after some 46.3 per cent of shares in the company was due to come out of escrow.
The Drummoyne-based activist investor Matthew Donnellan was reputedly lining up to acquire a designated 15 percent stake.
The shares are being mostly offered to the market by former McGrath agents and senior executives.
The 14.66 percent stake would make the second biggest shareholding behind founder John McGrath.
The 14.66 per cent combined stake in McGrath was created by the shares of former McGrath director of sales Matt Lahood, Geoff Lucas the former McGrath chief operating officer who has since moved to artisan bakery group Sonoma, and former agents Ben Collier, Stephen Chen, the Leichhardt agent Shad Hassen and Brad Gillespie, along with a remaining McGrath agent Bethwyn Richards.
The rival real estate agents - now at The Agency - hope selling the shares as a block could achieve a premium price.
McGrath CEO Cameron Judson previously advised McGrath remained a "a long-term holder of stock" but didn't advise further on any future purchasing or privatisation plans.
More than half of the shares set to come out of escrow are owned by founder John McGrath.
Later this month another 7 per cent of shares owned by Shane Smollen and other Smollen associates come out of escrow .
Last month, The Australian Financial Review's Street Talk column reported that Anchorage Capital, Adamantem Capital, Advent Partners and Crescent Capital Partners were among firms taking a close look at the country's third-biggest real estate sales group.
The shares floated at $2.10 in the initial public offering in late 2015. 
McGrath shares closed at 76 cents on Thursday and we at 78 cents today.
Perpetual and Argo rank as third and fourth largest shareholders.
</body></html>

Mcgrath

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Mcgrath

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News