<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.
</section>

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;

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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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McGrath chief executive Geoff Lucas has listed in Cremorne after he bought in Bellevue Hill where he secured half a Palladian villa.
It has been listed for August 17 auction through McGrath agent Claudia Portale.
Lucas had previously listed his Wonga Road property (above and below) in early 2018 when its failed to sell when listed by the now departed McGrath agents Adrian Bridges and Michael Coombs.
It was listed with <a href="/news/wonga-road-cremorne-offering-by-former-mcgrath-executive">$6 million to $6.6 million hopes</a> in February 2018.
Lucas paid $3,425,000 for the home in 2005, snapping it up pre-auction after just 12 days.
<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/2019/7/25/Geoff%20Lucas%20Wonga%202.jpg" alt="">
He owns 1/100th and wife, Nicola the 99/100ths.
The Victoria Road, Bellevue Hill duplex (below) was bought after being passed in at June auction at $5.825 million.
The four-bedroom, three-bathroom Mediterranean-style mansion (above and below) was built in 1992 on its 725 sqm block with views over Royal Sydney Golf Course to the harbour and the ocean. 
The Briggs family had bought it for $3.525 million in 2002.
The property comes with pool and tennis court, which is shared with the neighbour.
<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/2019/6/26/Geoff%20Lucas%20Bellevue%20Hill%203.jpg" alt="">
It was listed for Sothebys auction in April last year with overly ambitious $7 million to $7.5 million price guidance.
<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/2019/6/26/Geoff%20Lucas%20Bellevue%20Hill.jpg" alt="">
Lucas returned to McGrath, the ASX listed company in February last year as its chief executive.
Its lower north shore office has been ravaged by agent departures.
The office lists just three agents including William Manning who has been based in Sydney's east.
 
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firstname1-iYD4UYzvBa

McGrath chief executive Geoff Lucas lists in Cremorne after buying half a Palladian villa in Bellevue Hill

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Ben Cannon, who was at Ray White, has joined McGrath Estate Agents in its Brisbane office at Bulimba.
Cannon has been an agent for 16 years having worked in the Inner South East of Brisbane for his entire life.
He is a licensed agent and auctioneer. 
Cannon has been ranked an Elite Performer Ray White Group for three recent financial years.
He was ranked in the network's top 2% of agents in Australia.
Ben is joined by fellow property specialist Jade Loch and Gunther Behrendt in his transition to McGrath Bulimba. 
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j.ballantyne1990-6AQqhLzZaK

Ben Cannon quits Ray White for McGrath in Brisbane

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McGrath chief executive Geoff Lucas has bought in Bellevue Hill securing half a Palladian villa.
The Victoria Road duplex was bought after being passed in at auction at $5.825 million. There has been no sale price reveal yet among the increasingly-garrulous, but so-called tight lipped eastern suburb agents and buyers' agent.
The four-bedroom, three-bathroom Mediterranean-style mansion (above and below) was built in 1992 on its 725 sqm block with views over Royal Sydney Golf Course to the harbour and the ocean. 
The Briggs family had bought it for $3.525 million in 2002.
The property comes with pool and tennis court, which is shared with the neighbour.
<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/2019/6/26/Geoff%20Lucas%20Bellevue%20Hill%203.jpg" alt="">
Not sure what the arrangement is but when ad man Michael Ball and wife Daria owned it in the mid-1990s, they played tennis on odd days of the month, with the plastic surgeon Ted Gibson and wife Barbie playing on the even days when they owned the southern half of the Lucienne de Mestre-designed villa. 
It was offered through Steven Zellner of L&amp;S Double Bay who has been involved in its first sale in 1995 at $2.1 million.
It was listed for Sothebys auction in April last year with overly ambitious $7 million to $7.5 million price guidance.
<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/2019/6/26/Geoff%20Lucas%20Bellevue%20Hill.jpg" alt="">
Lucas will relist his Wonga Road, Cremorne property, which he owns with wife Nicola.
It struggled to sell when listed for the now departed McGrath agents Adrian Bridges and Michael Coombs.
It was listed with <a href="/news/wonga-road-cremorne-offering-by-former-mcgrath-executive">$6 million to $6.6 million hopes</a>.
Lucas paid $3,425,000 for the home in 2005, snapping it up pre-auction after just 12 days.
He owns 1/100th and wife, Nicola the 99/100ths.
Lucas returned to the ASX listed company in February last year as its chief executive.
He had left his role as McGrath Ltd chief operating officer in 2016 to briefly take a job at the NSW bread maker and café group, Sonoma after being at the estate agency for almost eight years.
Lucas had a 4.3 percent shareholding in the McGrath Group on his departure, with the 5.7 million shares then sold, according to the 2018 annual report.
On his return the McGrath shareholders were advised Lucas was entitled to a total fixed annual base salary of $500,000 (inclusive of statutory superannuation).
Lucas was also eligible to participate in McGrath's short term incentive plan, up to 50 percent of base salary per annum, subject to the satisfaction of key performance indicators.
Lucas was to be eligible for securities valued at up to 50 percent of base salary per annum pursuant to a new McGrath Equity Incentive Plan being developed by the company, which is likely to include vesting over a three year period and financial targets, subject to Lucas' continuing employment with McGrath during the period.
His employment contract includes a restraint of trade period of 18 months preventing him from competing with McGrath should he leave again.
The board granted 2,500,000 share options to Lucas as part of the CEO LTI Program in May 2018. The options have a grant date fair value of $0.092 per option.
The shares are trading at 24 cents.
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McGrath chief executive Geoff Lucas buys half a Palladian villa in Bellevue Hill

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The bellwether listed estate agency McGrath Limited has told shareholders that continued subdued 2019 market conditions have further hit its financial profitability.
With improved sentiment yet to translate into increased listings, and sales, McGrath Ltd says it now expects a full year earning's loss of $6 million to $6.5 million due to headwinds across the nation's housing markets.
The forecast loss is up on <a href="/news/mcgrath-estate-agents-dip-in-earnings-worsens">the envisaged $4.5 million EBITDA loss advised in its March update</a> for the first eight months of the financial year.
McGrath shares have slipped from its $2.10 listing price in December 2015.
The shares were trading at 27 cents before and after this morning's update.
The ASX-listed realtor said today market conditions for FY19 had been challenging with transaction volumes and property values in Sydney, Brisbane and Melbourne further subdued in the 12 months to May.
"While we have seen a general improvement in interest and enthusiasm in the market, we are yet to see this translate to an increase in listings," chief executive Geoff Lucas said in a statement. He did detect signs that sellers are now more prepared to meet the market.
While property market sentiment has started to improve following the federal election and house price declines have started to ease, McGrath chief executive Geoff Lucas said market conditions for FY2019 "have been challenging".
McGrath lost its <a href="/news/kon-stathopoulos-departs-mcgrath-estate-agents">head of sales Kon Stathopoulos</a> last week.
"While we have seen a general improvement in interest and enthusiasm in the market, we are yet to see this translate to an increase in listings," Mr Lucas said.
"However, with the elections now behind us, there is evidence of rising confidence in the property market and broader  economy.
"We are seeing significantly increased buyer engagement at auctions, both from owner-occupiers and investors, buoyed by the recent interest rate cut by the RBA - the first since August 2016, and APRA’s decision to lower the mortgage assessment criteria for new loan serviceability.
“There is certainly more activity in the housing sector and we expect more favourable conditions will flow through to an improved performance in the next financial year”,
McGrath will announce its full year FY2019 results on August 26.
In a separate announcement McGrath advised appointment of Howard Herman as chief financial officer, effective June 24 after its former CFO Glynn Wright resigned after just 18 months with the company earlier this year.
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Herman has over 25 years commercial experience most recently as chief financial officer of global apparel business Naked Brand Group Limited, listed on NASDAQ and previously of Speciality Fashion Group, an ASX listed fashion retailer. 
His experience in the property sector includes finance roles with, Bovis Lend Lease in Sydney and Anglo American Properties in Johannesburg, South Africa.
Mr Herman said he was thrilled to join the team at McGrath. 
"The company is entering an exciting new phase and I look forward to playing an integral role in its future growth, working closely with Geoff and the Board to execute on our strategies to generate long-term sustainable value for our shareholders.”
Mr Herman holds a Bachelor of Commerce (University of Cape Town) and is a qualified chartered accountant (South Africa and Australia).
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McGrath continues to focus on its cost base and noted its strong balance sheet position at 28 February 2019, featuring no debt and $14.3m million in cash.
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McGrath forecast bigger losses as improved housing market sentiment yet to boost revenues

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McGrath Estate Agency intends to depart its long-time Edgecliff head office in Sydney's east and take space in inner-city Pyrmont.
But there is some muted internal backlash since staff were advised of the move last friday.
It could see the agency set up a small Double Bay office.
For its head office, McGrath has taken the lease of a refurbished 1500 sqm ground floor space at 100 Harris Street, Pyrmont from late October. 
One insider reportedly suggested the new digs enabled McGrath to "continue its brand renewal."
The gross annual market rent in the former 1890s wool store sits was $600 to $700 a square metre, giving McGrath savings in lease expenses, according to the Nine Entertainment website.
McGrath will share the building with Domain and WeWork.
The agency had reduced the Edgecliff office size required on <a href="https://www.raywhite.com/nsw/edgecliff/1718420/" target="_blank">New South Head Road</a> last year with its executive suite advertised for lease.  
It moved to the current New South Head Road premises around 2002.
Its previously had its office at Goodhope Street, Paddington terrace and then Juniper Hall on Oxford Street, Paddington.
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Pyrmont headquartered McGrath likely to open small Double Bay office

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Kon Stathopoulos, the head of sales, has departed McGrath Estate Agents.
Stathopoulos is no longer listed on website showing the McGrath management team.
He had been with McGrath since the beginning of 2014.
He became head of company sales in October 2016 when he was elevated from being McGrath’s general manager of sales, NSW.
He took on the current role when McGrath Limited lost its longtime head of sales, Matt Lahood to The Agency, <a href="/news/mcgrath-group-loses-head-of-sales-matt-lahood-after-two-decades">with the Lahood departure and Stathopoulos appointment announced to the stockmarket</a>.
He was listed among the agencies' top earners in the 2018 company annual report with a $625,000 annual renumeration, including bonuses, up from $560,000 in the 2017 financial year and $413,000 in 2016.
Lahood had been on $679,000 in the first year after the McGrath float.
The mid-week departure has not been notified to shareholders, nor any replacement details.
He joined the Sydney office in 2014 when he moved into real estate from Melbourne, and took 12,000 shares in the group in the late 2015 IPO grant to executives, and 77,000 shares in the 2017 grant.
He'd previously been in sales for almost 14 years, starting off as a teenager as a telemarketer for Neopost Australia, a mail and logistics company.
He advanced to manage revenue, profit and their entire Australian sales team at Neopost, which included culture, strategy, training and recruitment.
 McGrath was a client.
On his 2016 appointment the then chief executive Cameron Judson announced he was "excited about the energy and enthusiasm that he brings."
Stathopoulos has previously explained his enthusiasm was that "real estate has always been in my DNA."
He'd purchased his first home at 22 and second at 29, both in Melbourne.
He'd noted proudly that the McGrath agency had superstar agents.
"One of my favourite roles is being able to celebrate the agents who have committed and been loyal to the business for many many years," he recently said.
McGrath will shortly be leaving its long-time head office in Edgecliff in Sydney's eastern suburbs and heading to inner-city Pyrmont.
It has taken the lease of a refurbished 1500 sqm ground floor space at 100 Harris Street from late October. 
One insider reportedly suggested the new digs enabled McGrath to "continue its brand renewal."
The gross annual market rent in the former 1890s wool store sits was $600 to $700 a square metre, giving McGrath savings in lease expenses, according to the Nine Entertainment website.
McGrath will share the building with Domain and WeWork.
The agency had reduced the Edgecliff office size required on <a href="https://www.raywhite.com/nsw/edgecliff/1718420/" target="_blank">New South Head Road</a> last year. 
Initially developed in 1989, and expanded in the early 2000s, the Edgecliff building has five levels of commercial office space a total lettable area of 3,500 square metres as well as basement parking for 67 cars.
The building sold last month for $41 million back to Anka Eastern Pty Ltd.
It had previously sold in 2005 to long-time Mirvac chief Bob Hamilton who paid $19.26 million reflecting a sale yield of 7.75 per cent when it was bought from Anka Property Group, directed by Andrew and Vera Boyarsky.
Anka Property Group had paid $10.6 million in 2001, it having been the temporary offices of Woollahra Council.
It was leased on its 2001 sale to McGrath and data warehousing firm Tacoma, with the price translating to a sale yield of more than 9 per cent when sold by mainland Chinese investor Grand Ocean, which bought the building in 1995 for $10.8 million. 
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jchancellor-FAypfDUnLy

Kon Stathopoulos departs McGrath Estate Agents

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McGrath Limited has secured the services of Richard Shalhoub, who has been operating as Sydney Sotheby’s International Realty - CBD and Pyrmont.
It marks a return of the high performing sales agent who was prominent in the Walsh Bay precinct, the home turf of McGrath founder John McGrath.
He returns to the McGrath agency where he previously worked for nine years between 2007 and 2016.
The ASX was advised that McGrath entered into an in agreement to acquire the business and assets, including a rent roll, of a business owned and operated by Shaloub.
The total consideration is expected to be $1.6 million.
It will be settled in cash, with the binding agreement expected to be completed in early July 2019.
McGrath CEO Geoff Lucas said Richard Shaloub's return to McGrath earmarked the importance of the Sydney CBD precinct.
It would complement the company’s presence in a key market that has been serviced by its Eastern Suburbs sales office.
“Richard returning to McGrath is a win-win for us both and is in line with our overall strategy to increase market share in key markets with the recruitment of exceptional agents who have the desire to be part of a well-resourced and well established brand.
“Not only is Richard an outstanding agent with an unparalleled depth of knowledge of Sydney’s CBD and northern CBD residential precincts, he brings with him an intrinsic understanding of the prestige market that has been transformed by the substantial infrastructure, lifestyle and work precincts seen at Barangaroo and Millers Point,”Mr Lucas concluded.
Shalhoub has established himself as one of the CBD’s leading agents over the past 15 years.
He was instrumental in the company first being appointed by Property NSW in 2014 as their exclusive selling agent for the Millers Point program, and involved in the success of the Government selloff.
He left the McGrath in August 2016 to become principal of Sydney Sotheby’s International Realty - CBD and Pyrmont.
“There has been a clear shift in market sentiment and conditions over the past 12 months in the CBD as we have transitioned to a more subdued marketplace," Shaloub said.
"As a result, I feel that to best represent our clients we need to be aligned with a respected and dominant brand with strong referral networks. 
“I believe there will be a growing desire for small agencies to consolidate so they can focus on servicing their clients and grow market share rather than the day to day running of a business.
"We are clearly seeing a transitioning market over the last 12 months – and despite changing market sentiment, there is still plenty of activity in the prestige sector and opportunity in a highly desirable area of Sydney for buyers who are actively seeking luxury residences."
He points to sales including Penthouse 28A, Stamford Residence, 171 Gloucester Street, The Rocks for $13.5 million; 73 Windmill Street (block of 11 apartments) for $10,050,000; 11-13A Dalgety Road Millers Point sold at $5 million; and 5-7 High St Millers Point sold at $5,605,000.
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McGrath McGrath Millers Point | Sydney CBD will be located at 27 Kent Street, Sydney.
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Richard Shalhoub returns to McGrath as agency grows Sydney CBD footprint

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McGrath's biggest institutional backer, Perpetual has further reduced its shareholding in the listing estate agency.
It has sold shares between May 6 and May 29 which took its shareholding down to 7.48 percent.
It had been sitting on 9.04 percent.
Its sale of the 2.6 million shares caught a recent spike following the post election property optimism.
Its shares have risen from a record 20.5 cents low, just before the election, to its current 28 cents level, where it has been since last Wednesday.
In March last year Perpetual sold almost 2.5 million McGrath shares that reduced its stake to 11.6 percent from 14.2 percent.
There has been no advisory from Perpetual on its declining stake.
No doubt one recent factor has been the initial listing stockbroker Bell Potter ceasing its coverage of the estate agency, which means analysis of the stock is no longer done by any stockbroker. 
It was in the 2015 float at $2.10 that Perpetual emerged as a surprise major backer of the McGrath Estate Agents’ initial public offering.
McGrath began public life as a company worth $282 million, which has dipped, along with property prices and fewer star agents, to $47 million.
At $2.10 per share, it equated to 8.8 times forecast earnings before interest, tax, depreciation and amortisation for fiscal 2016.
The fund managers liked McGrath’s cashed-up position, and its opportunities to expand in a highly fragmented industry.
McGrath shares slumped to $1.72 on its second day of trade in late 2015 with Perpetual taking so-called advantage to increase its shareholding to 9 percent from its initial holding of about 6 percent. 
In September 2017, when McGrath shares were trading at 64¢, Perpetual, along with fellow fund manager Argo, lifted their stake in the real estate group.
The 2017 acquisition saw Perpetual acquire six million shares, taking its overall stake to 14.16 percent from a previous 10.05 percent.
The biggest shareholder remains John McGrath, followed by Aqualand and Tony Denny.
With the company now capitalised at $47 million, McGrath's personal stake is worth a little over $10 million given his near quarter holding.
The float allowed him to pocket $37 million, some of which he quickly spent buying further shares in the agency.
Last March the Central Coast-based property developer, Tony Denny amassed a 5 percent shareholding as a "passive long-term investment" paying around 40¢. Denny <a href="/news/for-3-million-central-coast-entrepreneur-tony-denny-buys-5-percent-stake-in-mcgrath">spent $3 million on 7.2 million shares</a> in March last year which took his holding to five percent. 
Aqualand took its stake in <a href="/news/mcgrath-secure-10-7-million-strategic-investment-from-aqualand">June last year</a>.
They paid 42.5 cents a share for their 25,189,880 shares which totalled $10.7 million.
 
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McGrath's biggest institutional backer, Perpetual reduces its shareholding 

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McGrath Limited's presence on the lower north shore of Sydney has expanded through an agreement to acquire the real estate business owned and managed by John McManus (currently operating as LJ Hooker Willoughby/Artarmon).
Its ASX shareholders were told the total consideration is expected be $2 million.
“We are excited to welcome John back to McGrath where we expect that he will make a significant contribution to our Lower North Shore business,"McGrath CEO Geoff Lucas said.
"John is without doubt an elite performer within our industry, and has an outstanding depth of knowledge with respect to the Lower North Shore market, where he has lived for over 20 years.”
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Mr McManus returns to McGrath having been their No. 1 agent in FY2011, and ranking in their Top 10 for several years.
Mr McManus left the company to become principal and licensee of LJ Hooker Willoughby/Artarmon in January 2014, where he was awarded the title of Top Sales Agent for NSW/ACT in 2018 and No. 1 World Champion Sales Person for their International division.
McGrath Willoughby will be located at 150 Mowbray Road, Willoughby.
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Lucas advised the acquisition was "consistent with our previously announced corporate strategy of maintaining our presence in the lower north shore of Sydney and expanding our rent roll assets organically and by acquisition."
"The company has entered into an agreement to acquire the business and assets, including rent roll, of a real estate business owned and managed by John McManus (currently operating as LJ Hooker Willoughby/Artarmon)," the announcement said.
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McGrath expand on Sydney's lower north shore 

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McGrath Estate Agents have expanded their reach, opening a new office in Ballarat in regional Victoria.
Their move, which is part of the focus to expand into key regional areas in the state, comes after they opened a Geelong office, their first regional
John McGrath, the founder and executive director of McGrath, said Ballarat is an important growth area of Victoria.
“We earmarked Ballarat over two years ago in our McGrath Report as an important key regional market that has transformed itself from an industrial hub to an attractive lifestyle centre that offers more affordable housing, employment opportunities, a strong sense of community and a relaxed way of life," McGrath said.
"Ballarat is a prime example of a regional city that is no longer the sleepy second tier town but conversely, one that has come of age as thriving economic centre and community.”
McGrath Ballarat will service the area of from Ballarat North to Durham Lead in the south; and Cardigan in the west to Warrenheip in the East. Key suburbs will include Ballarat Central, Solders Hill, Wendouree, Canadian and Ballarat North.
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Christopher Mourd, head of franchise network for McGrath, said Ballarat has been on our radar for some time. 
"As the third largest city in Victoria, it is one of Australia’s fastest growing and most liveable regional cities with diversified manufacturing, tourist, education and professional services in abundance," Mourd said.
“Ballarat is a well-planned city that is steeped in history from the days when it was at the heart of the gold rush, and then a manufacturing town.”
McGrath Ballarat will be led by principals Daniel Nestor (above on the left) and Sean Toohey (above on the right) who have been involved in a sales and operational level with various real estate agencies in Ballarat.
Most recently they were both directors of Ballarat Property Group.
Nestor said Ballarat deserves a premium brand with the highest quality people servicing the market.
"We want our clients, both vendors and buyers, to benefit from the best marketing, knowledge and customer experience that we can offer," Nestor said.
 
 
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