<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

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The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
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Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

Mcgrath

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The Drummoyne-based activist investor Matthew Donnellan emerged yesterday as lining up to potentially acquire a 15 percent stake in McGrath this Friday.
The shares are being mostly offered to the market by former McGrath agents and senior executives.
The stock has been offered through Wilson, seemingly volunteering Donnellan as the likely raider.
The press advised the 47-year old Donnellan had once acquired a similar stake in then struggling pub owner, Lantern Hotel Group, "before forcing out the management and instigating a turnaround in its strategy that delivered strong returns to investors through an asset sell down."
The 14.66 percent stake would make the former Allphones CEO sit as the second biggest shareholder behind founder John McGrath.
The press were tipped off that Donnellan was "an admirer of the McGrath business and brand, but not the performance of its board."
"I don't own any shares in McGrath so I have nothing to say at this stage," Donnellan oddly told the press.
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 shares floated at $2.10 in the initial public offering in late 2015.
The block trade, which is being handled by stockbroker Wilsons, will be available for purchase from Friday when 46.3 per cent of shares in the company come out of escrow.
A document filed to the Australian Stock Exchange said each of the parties intended to act in a "co-ordinated manner in relation to any sale of their shares in McGrath Limited".
What they hold
Geoff Lucas 6.7 million shares
Bethwyn Richards 2.78 million
Shad Hassen 2.78 million
Steven Chen 2.78 million
Matt Lahood 2.78 million
Ben Collier 2.78 million
Brad Gillespie 760,000 shares
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 advised McGrath remained a "a long-term holder of stock" but didn't advise further on any future purchasing or privatisation plans.
McGrath shares closed down 2 percent at 77 cents on Wednesday, and this morning was trading at 78 cents.
In 2016 Donnelley paid $8.05 million through Ward Partners for his Drummoyne harbour front house which had been marketed with $6.5 million hopes.
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jchancellor-FAypfDUnLy

McGrath rebels join forces to sell 14 percent stake

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Real estate agent McGrath’s profit fell sharply for the year ended June 30 and the company announced a share buyback to support its sliding share price.
The full-year underlying earnings in the year ended June 30 falling 5 per cent to $15.6 million and underlying earnings were slightly below market forecasts of $16 million though net profits were slightly higher than a forecast $4.5 million.
Shares were at 77 cents during morning trading on the ASX today. McGrath’s shares have tumbled more than half since their ASX float at $2.10 per share. There was a 54 cents low earlier this year.
The share buyback is expected to be in effect on or after September 8, McGrath said though the number of shares to be bought back will depend on the stock’s price and other market factors. The buyback could go on for 12 months, it said.
It has more than 139 million shares on issue.
Net profit after tax fell 42 per cent to $4.9 million from $8.4 million in the previous financial year, hit by low listings and sales.
Revenue rose a modest 7 percent to $129.4 million.
<a href="https://www.propertyobserver.com.au/images/2017/08/24/McGrathRevenue.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/24/McGrathRevenue.png" alt="">
Chief executive Cameron Judson described market conditions as challenging during the results presentation.
“Notwithstanding the challenging market environment, particularly as a result of the low volume of listings and sales throughout the financial year, and the loss of a number of high performing sales agents in the Company Owned segment in December 2016 and January 2017, the strength of our business model saw us deliver $15.6 million EBITDA,” said Judson.
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"Disappointingly, listing in our company-owned offices were down 11 per cent," Mr Judson told an investor briefing.
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<div>Earnings fell 42 per cent to $15.5 million from McGrath's 28 company owned sales offices which account for two-thirds of its earnings.</div>
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<div>Its revenue and earnings increased across McGrath's franchise business, property management and mortgage broking businesses.</div>
<a href="https://www.propertyobserver.com.au/images/2017/08/24/McGrathResults.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/24/McGrathResults.png" alt="">
McGrath added 15 offices to its network during the reporting period -- three company-owned in NSW, and 12 franchise offices in NSW and Victoria. 
It has 102 offices, of which 28 are company owned.
The company had earlier dismissed talk that it was facing an exodus by its franchisees, following exits by senior executives.
McGrath said its market share by sales value was constant at 3.4% nationally.
<a href="https://www.propertyobserver.com.au/images/2017/08/24/McGrathMarketShare.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/24/McGrathMarketShare.png" alt="">
Judson said McGrath was exploring new revenue opportunities in adjacent property services. 
“Our aim is to continue 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 Company Owned Sales,” he said.
The investor appetite for McGrath shares will be tested shortly when around 46 per cent of its shares come out of escrow, with a significant number held by Mr McGrath, who remains the biggest shareholder of the company with his name, with a 27 per cent stake, though he has indicated he won't ever be a seller.
The company declared a final dividend of 1 cents.
 
 
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jonathanchancellor-7SQnKwU6yx

McGrath profit tumbles 42 percent on low listings, announces buyback

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John McGrath has raised the spectre that the NSW State Budget stamp duty cuts and grants for young buyers will "ultimately raise property prices due to higher competition."
But with Sydney and Melbourne at their peak pricing, McGrath suggests softening market conditions might balance out any price effect from greater first home buying activity.
'Especially if there are fewer investors in the market due to tighter lending restrictions," McGrath told his Switzer readers.
CoreLogic quoted recent ABS statistics showing that first home buyer activity in NSW hit a record low of 7.5 percent of new owner occupier mortgages last September and had increased only marginally since then to 8 percent in March this year.
"The long term average is 17 percent, so we’re a long way off that," McGrath said.
McGrath added he was concerned by the good initiative be funded largely by disincentivising investor activity and foreign ownership.
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j.ballantyne1990-6AQqhLzZaK

John McGrath thinks NSW FHB incentives will assist in balancing property market

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The historic Millers Point Workers Dwellings have been listed for sale by Property NSW on behalf of Family and Community Services.
The 33 three storey apartments, located between 30 Lower Fort Street and 4 Trinity Avenue, were built by the Sydney Harbour Trust around 1910 to house wharf labourers, storemen, stevedores and gasworks hands.
The listing marks the largest number of apartments for sale at one time as part of the Millers Point Sales program and is marketed through McGrath Estate Agents.
They are offered in one line, 33 apartments, (Lot 1), or as four separate lots as outlined below:
Lot 2 - 9 Apartments
Lot 3 - 6 apartments
Lot 4 - 6 apartments
Lot 5 - 12 apartments
Proceeds from the Millers Point sales program so far total over $390 million.
Early April four properties sold under the hammer including two terrace homes, two side-by-side terraces sold in one line, and a landmark seven-bedroom residence which was originally built as the “Hit &amp; Miss” hotel.  
Five Millers Point properties were sold in March for a total of $25.5 million
Expressions of interest close June 22, 2017.
For more details please visit <a href="https://www.rediscovermillerspoint.com.au" target="_blank">www.rediscovermillerspoint.com.au</a>.
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33 historic workers apartment dwellings in Millers Point listed for June sale

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McGrath Estate Agents today announced David Imrie has rejoined the agency, on the company owned sales team.
Imrie will service the key suburbs of Newtown, Chippendale, Redfern, Alexandria and Erskineville.
He brings with him a wealth of experience across many diverse industries including real estate, corporate and not-for-profit.
Imrie began his real estate career in New York more than 20 years ago. He worked at Rowley Banks Real Estate in the late 1990s, then Di Jones for around four years, then joining McGrath until 2007.
He returns to McGrath as a sales agent in its Newtown office having previously worked at the company’s Eastern Suburbs location.
Imrie brings many years of experience as an auctioneer, industry trainer and speaker.
In 2008, he was appointed to Chair of the Board of the Sydney Gay &amp; Lesbian Mardi Gras.
Since then he has served as National Executive Officer of the Australian Veterinary Association, Chief Executive of not-for-profit organisation Keep NSW Beautiful and interim Chief Executive of Keep Australia Beautiful.
Mr Imrie said his decision to return to the real estate industry was a very considered move.
“Real estate is such a dynamic industry, combining people and property. 
“During my real estate career, I formed many important and lifelong friendships and this aspect of the industry has always been a strong attraction for me.
“However, it was important that the timing was right.
“The industry has been through significant change in recent years and I believe now is an exciting time to again be a part of it.”
On his decision to return to McGrath, Mr Imrie said it was an easy choice.
“McGrath is a great company and the support, training and leadership is second to none.
“I believe McGrath is an industry leader and I am excited about returning.”
 
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David Imrie rejoins McGrath Estate Agency

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Real estate agent McGrath, whose shares plummeted to a record low last week, has dismissed reports that it was facing an exodus by its franchisees.
McGrath shares fell on Thursday to 58 cents, after rumours spread about five franchisees leaving the company, prompted a compliance query from the Australian Stock Exchange.
It was unchanged at 58 cents in morning trading today on the ASX.
In its response to the ASX query, McGrath said the company was not “aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities”.
Earlier, a newspaper report claimed that five franchisees that "account for about 50 per cent of the group's earnings" could quit McGrath.
The McGrath letter said “we have no information regarding any franchisees intending to leave the company other than one franchisee — Ascot in Queensland — whose franchise agreement expires on May 30”.
“We note that this franchisee and McGrath mutually agreed not to renew the franchise agreement back in late 2016 and can so no reason why this would trigger any publicity at the current time,” it continued.
Shares in McGrath, which was hit by high-profile agent exits earlier this year, listed in late 2015 at $2.10 and has gone into a decline ever since. 
They opened 2017 at 90 cents, then fell in January this year after it signalled weak revenues.
The company has previously blamed the summer defection of a number of high-profile agents in part for for its woes.
McGrath also said the "unprecedented low volumes of listings" had emerged as high prices had discouraged some sellers from putting properties on the market, fearing that prices could rise too far before they could acquire their next property.
The letter to ASX said the company was “not aware of any other reason for the recent trading in its securities”.
McGrath has 72 franchise offices, and the media report that five of those would leave the company, would unlikely have a huge material impact on the real estate company as about two-thirds of its earnings come from company-owned offices, they advised shareholders.
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McGrath says not aware of franchisee exodus, only Ascot in Brisbane

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Shares in high-profile real estate agency McGrath are trading at new lows.
The Thursday close was 59 cents, having traded at 58 cents.
Real estate agent McGrath, whose shares plummeted to a record low, has dismissed reports that it was facing an exodus by its franchisees.
McGrath shares fell on Thursday to 58 cents, after rumours spread about five franchisees leaving the company, prompting a compliance query from the Australian Stock Exchange.
They opened 2017 at 90 cents, then fell in January this year after it signalled weak revenues.
The company has previously blamed the summer defection of a number of high-profile agents in part for for its woes.
McGrath also said the "unprecedented low volumes of listings" had emerged as high prices had discouraged some sellers from putting properties on the market, fearing that prices could rise too far before they could acquire their next property.
The shares were $2.10 when it went public.
In December 215 McGrath, Australia's first real estate agency to list on the stock exchange, fell 8.6 percent from its initial public offering price on debut.
The shares have never traded above $2.10.
The latest share price movement comes as CoreLogic foreshadowed April housing market results will show regulatory measures have had a dampening effect on housing market conditions. 
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McGrath Estate Agency shares trading at record low

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McGrath Estate Agents, a division of McGrath Limited, today announced the opening of its 100th office in Toukley on the New South Wales Central Coast.
McGrath founder John McGrath said the opening of our 100th office was "an exciting and important milestone for McGrath."
“We opened our first office in Paddington, Sydney, 29 years ago.
"Over that time, we have strategically grown our footprint throughout the East Coast of Australia, targeting both emerging property and premium lifestyle markets.
“As we continue to grow, it remains important that we partner with high quality business operators who share our core values of honesty, transparency and integrity.
“It is serendipitous that the principals of our 100th office were also our very first franchise partners, when we opened on the Central Coast more than 10 years ago.
I am delighted that we can share this pinnacle with both Jaimie and Mat as they have played such an important role in the business over the years,” said Mr McGrath.
Jaimie Woodcock and Mat Steinwede, both currently in McGrath’s Top 10 agents ranking, will lead the team at McGrath Toukley.
Mr Woodcock and Mr Steinwede opened their first McGrath office in Terrigal in 2005, the company’s first franchise office and first regional office outside of Sydney.
Mr Woodcock said opening our fifth office in the region demonstrates our ongoing commitment to this important market.
Toukley is a natural extension from our existing office locations and an area experiencing strong and sustained growth.”
Steinwede said “It has been an amazing journey.
Located at the northern end of the Central Coast, Toukley is an affordable lifestyle destination.
The beachside suburb has experienced healthy growth with house prices increasing by 9.5 percent over the past 12 months to $460,000.
<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/2017/04/10/McGrath%20Toukley%20L-R%20%20Mat%20Steinwede%20Jaimie%20Woodcock%20John%20%20McGrath.jpg" alt="">
Woodcock said in Toukley and its surrounds, it is still possible to purchase a freestanding house with a backyard for less than $500,000, "which is exceptional value for money in today’s market.
“With significant investment in infrastructure and services in recent years, I believe demand in the region will continue to strengthen with price growth to follow,” said Mr Woodcock.
The new office is located at 248 Main Road, Toukley. 
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Mat Steinwede helps McGrath reach its 100th office milestone

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McGrath Estate Agents, a division of McGrath Limited, has opened a new office in the bayside suburb of Sans Souci.
McGrath Sans Souci will be led by Matthew King and Kieran Bresnahan.
This is the fourth franchise office under King and Bresnahan’s leadership including the already established Brighton-Le-Sands office, which has been serving the local area for the past seven years.
It will focus on Sans Souci, Ramsgate, Dolls Point, Sandringham and Kogarah Bay.
McGrath founder and executive director John McGrath said the new office located at 333 Rocky Point Road, Sans Souci was the 99th NSW franchise office.
Sans Souci, with its leafy bayside location, recently saw a home sold in excess of $9 million which surpassed the previous suburb record by more than $3 million.
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McGrath opens 99th franchise office at Sans Souci

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McGrath Property has come second on a national list behind Kogan and ahead of General Pants of 'mobile ready' brands.
MDEX determined each brand’s mobile performance against five dimensions: mobile optimisation, discoverability, navigation and content, utility and usability, and driving desired actions.
MDEX aims to benchmark a brand’s mobile performance according to Scott Player, chief executive officer at Ansible Australia.
Ansible, is the mobile marketing and technology agency of IPG Mediabrands and conducted the survey in partnership with international market research agency YouGov.
Results of the study were unveiled at Mobile World Congress as part of The Digital Economy Keynote Session. 
The Top 10 Most “Mobile Ready” Australian brands are:
1.       Kogan
2.       McGrath Property
3.       General Pants Co
4.       The Iconic
5.       Lion Corporation
6.       David Jones
7.       Ten Networks
8.       Nine Entertainment
9.       Myer
10.   Billabong
Scott Player, chief executive officer at Ansible Australia  said the MDEX’s framework was built and developed over a six-month period, beginning in July, with field studies occurring in January 2017.
"Over 2,000 brands were surveyed across four global regions in 15 major markets including Argentina, Austria, Australia, Brazil, Canada, Chile, Germany, India, Malaysia, Mexico, Philippines, Singapore, United States, United Kingdom and Uruguay," he said.
"Global brands were defined by large, multinationals that had at least some presence in multiple key markets. Market-specific brands were smaller brands that may only be present in a single market."
The Top 10 Most “Mobile Ready” Global brands are:
 
1.       Facebook
2.       Amazon
3.       7-Eleven
4.       Hyundai
5.       Microsoft
6.       Nike
7.       Google
8.       Adidas
9.       OLX
10.   Target
 
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