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

Joel Robinson

Parcel delivery is joining the apartment amenity checklist

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

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

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

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

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

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

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

Goldfields appoints BINAH for Quartet apartments in Milton

The first partnership between national developer <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> and Adelaide-based developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> has made a strong start, with the pair securing $21 million in unconditional sales at <a href="https://www.apartments.com.au/new-apartments/one-four-four-hutt-adelaide-144-hutt-street-adelaide-sa-5000">One Four Four Hutt</a>&nbsp;on the edge of the Adelaide CBD.

Over a third of apartments have been snapped up in the boutique 44-apartment project on the corner of Hutt Stret and Wakefield Road. Local downsizers and owner-occupiers wanting to remain in Adelaide's tightly-held southeast quarter have been the most prominent purchasers.

The DKO-designed, mixed-use development is one of the few new apartment projects in the precinct, an area where new housing supply has remained limited despite continued demand from buyers wanting to stay close to the CBD, Victoria Park and Adelaide's established east-end amenities.

[smartcode_project:default project_id=151233 project_image_fid=375378]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

"The level of early commitment reflects the confidence local buyers have in the Hutt Street precinct," Dendrinos said.

"Many purchasers are long-term east-end residents who love the area and want to stay connected to the neighbourhood. They recognise the value of a well-designed, well-located development.

"Our partnership with Otello has been central to this success, and the number of unconditional sales at this stage only strengthens our confidence in the South Australian market."

[smartcode_project:default project_id=151233 project_image_fid=375379]

Otello Director Daniel Harris said the sales result also highlighted the lack of new apartment opportunities within the Hutt Street precinct.

"One Four Four Hutt has clearly resonated with buyers, with strong early sales reflecting both the appeal of the Hutt Street corridor and the lifestyle on offer," Harris said.

"The activated ground-floor retail has also been a key drawcard, with purchasers responding to the vision of a more vibrant and connected streetscape, not just the residences themselves."

One Four Four Hutt will deliver 44 one, two and three-bedroom apartments, alongside a collection of penthouses, above a ground-floor retail offering designed to further activate the Hutt Street precinct.

Construction is scheduled to commence in the third quarter of this year, with completion anticipated in 2028.

[smartcode_project_cta:default project_id=151233]

Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

Fortis makes Adelaide debut with Otello as One Four Four Hutt records strong early sales

Mcgrath

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McGrath Estate Agents has appointed James Hayashi to a newly created role of regional sales leader for its sales team across Sydney’s Eastern Suburbs.
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Hayashi has more than 13 years experience from sales, auctioneering, recruitment and sales management.
He worked initially in real estate at BresicWhitney, but says he really kicked off his career at Cooley Auctions, and then more recently for his three years at Phillips Pantzer Donnelley (PPD).
Kon Stathopoulos, head of company sales at McGrath, said this was a very considered and important appointment.
He said it was one that has been met with much enthusiasm within the three offices under the Eastern Suburbs footprint – Edgecliff, Coogee and Maroubra. 
“When searching for someone to lead such an experienced and high performing sales team, we were committed to finding a person of outstanding calibre that would without a doubt add value to each of our agent’s businesses," Stathopoulos said.
"James will provide the leadership, support and coaching required for our current sales teams, and will be charged with growing our agent numbers across the three offices. 
“James comes to us with a wealth of real estate experience, having worked himself as an agent and more recently as a coach and sales manager. He’s an outstanding auctioneer, having been trained by Damien Cooley, and I believe will be a great addition to the incredible talent pool we have with our exclusive auctioneers.” 
In joining McGrath, James said he was attracted by its current leadership and management team, and the company’s focus on learning and development. 
“McGrath is a truly iconic and respected brand and this is a fantastic opportunity for not only my own personal development, but where I’m provided with the support systems necessary to drive internal growth and focus on external recruitment. I plan to hit the ground running,” said James.
The Cranbook educated agent recently appeared in the <a href="https://www.youtube.com/watch?v=FBccBF8TQQg" target="_blank">first Carpool Proptech video</a> when he indicated one of the relentless PPD principals had made 400 landline phone connections within a recent three day period to seek listings.
"The more people you connect with.... the more listings and sales you make," Hayashi noted.
Hayashi advised that many agents started out like this, then get a reputation, "then drop off from connecting with the data base...they feel they don't need to put the hard work in."
McGrath's eastern suburbs top performer has been pinpointed as Peter Starr, who was placed 12th in the REB top 100 this year.
The next highest McGrath eastern suburbs agent was the 32nd placed Lorraine Crawford.
  
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jrobinson-rf4aSBido9

James Hayashi joins McGrath to regrow eastern suburbs footprint

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McGrath’s most difficult days are behind it, according to the listed McGrath estate agency boss Geoff Lucas.
But the board will not pay a final FY18 dividend saying McGrath’s dividends will be reinstated as soon as it is deemed prudent.
“With the new board and senior leadership team settled in, the last quarter of FY18 saw the beginning of a period of stabilisation, and we are in the midst of a business turnaround.
"We are already seeing good progress in culture and agent recruitment, and critically we are seeing some strong sales results within our key markets,” Lucas maintained.
However weak real estate industrywide conditions impacted sales volumes.
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And their revenue was impacted by many internal factors including lower agent numbers and a decline in offices, particularly within the franchise network.
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Agent numbers were down 99 to 558 with 8,065 sales from franchises during FY18 compared to 8,337 sales during FY17.
The number of company-owned offices declined to 26 from 28 over FY18.
The number of franchisee offices decreased to 69 from 74 in the prior year. 
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There was a slowdown in the project marketing business with tightening regulatory conditions impacting investment demand.
There was also lower numbers of properties under management in the company owned network.
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Managed properties declined to 7,215, driven by challenging conditions across the East Coast residential market.
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The number of Oxygen Loans settled were at four year lows. 
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At the end of FY18 there were 31 mortgage brokers supporting the network, a decline of five.
Even its industrywide AREC conference didn't exceed past record attendance levels.
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The update to shareholders unveiled snippets of the strategy to turn the business around pinpointing a desire for agency growth in Victoria, Queensland and Western Sydney.
"Due to the difficult market conditions, lower sales volumes, and the departure of some of McGrath’s sales agents over FY17 and FY18, group revenue was down 23 percent to $99.2 million (compared to FY17)."
The lower revenue reduced underlying EBITDA to $5 million (before $4 million of one-off costs and $59.4 million of goodwill impairments), achieving market guidance.
"The ability of the business to generate positive earnings even after a $30.2 million reduction in revenue is testament to the robustness of the McGrath brand and position in the real estate industry," Lucas said, after a tumultuous year.
"The current property market conditions are challenging," he said. The revenue of company owned agents was down 32 percent.
"We will be concentrating our growth in predominantly franchised offices along the eastern seaboard, with particular focus on Victoria and Queensland.
"We will also be strengthening our presence in our existing company owned offices with an additional focus on the growth precincts around Western Sydney”, he added.
''We do believe the most difficult days are behind us, notwithstanding the current challenging residential market,'' Mr Lucas said.
The press release advised the new board and management team had put in place an operational plan that is "stabilising" the business, with early signs of positive momentum repositioning the business for a return to growth.
The shares were trading at 38 cents, edging up to 40 cents during morning trade having been floated in late 2015 at $2.10.
The FY18 (vs FY17) results overview:
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  Revenue down 23% to $99.2 million
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  Reported results reflect the impact of one-off restructuring costs ($4 million) and impairment charges ($59.4 million) – EBITDA of $1.0 million, and loss after tax of $63.1 million
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  Underlying EBITDA of $5 million; achieved guidance
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  Balance sheet with no debt and $10.9 million cash
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  After the departure of some of McGrath’s sale agents, market share based on value was constant at 3.1% (source: CoreLogic, 30th June 2018).
 Over $12 billion of properties were sold by McGrath in FY18 with property sales volumes decreasing 14% to 11,067, impacted by the reduction in the number of agents.
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During the reporting period, the board announced a number of changes to its composition which included:
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  the resignation of Non-Executive Directors Cass O’Connor, Elizabeth Crouch, Nigel Dews and Cath Rogers;
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  the appointment of independent Non-Executive Directors Peter Lewis and Andrew Robinson; and
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  the appointment of Non-Executive Director Wayne Mo. John McGrath is not considered independent as he is an executive director and Wayne Mo is not considered independent as he is the CEO of AL Capital, a substantial holder of the company via Aqualand.
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jchancellor-FAypfDUnLy

McGrath Group revenue down 23 percent as estate agency says most difficult days are behind it

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McGrath’s domination in the recent annual Real Estate Business Top 100 Agents ranking with 27 of the Top 100 agents in Australia was spotlighted when the listed estate agency reported its latest financial update.
<a href="/news/mcgrath-on-track-to-reach-forecast-earnings-despite-weakened-overall-property-market">The financial results</a> showed some signs of consolidation and recovery despite the weakened overall property market.
"Importantly, 37% of the female agents in the Top 100 ranking work with our company,” said Geoff Lucas, CEO of McGrath Estate Agents. 
Betty Ockerlander (pictured above) leads the agency's female agents in the sales list.
REB put her annual sales tally at $215 million, which ranked her the 15th best selling agent on the <a href="/news/alexander-phillips-lead-narrows-at-top-of-the-highest-selling-residential-estate-agents">top 100</a>.
The McGrath Epping agent has been president of Epping Rotary as well as the long standing position as the secretary of the Epping Chamber of Commerce. She also has a strong connection with the local schools.
Operating her own agency for over 20 years within Epping, North Epping, Eastwood and Beecroft, she is now ranked as the #3 agent in McGrath Australia 2017.
Around half her sales were through auction. 
Ockerlander's highest recorded sale price over the past year was $2.7 million for 15 Barellan Avenue, Carlingford, a four bedroom house which sold by auction in March.
Lorraine Crawford (pictured below) was in 32nd place with $170 million in annual sales.
She is based at McGrath's head office in Edgecliff specialising in the suburbs of Bondi Junction, Queens Park, Waverley, Bondi and Millers Point.
She has worked and lived in these suburbs over the past 11 years, having been involved in sale over the past 17 years.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/7/31/lorraine.jpg" alt="">
Her record sales have occurred in suburbs including Queens Park, Bondi Junction and Malabar.
Lorraine's highest recorded sale price over the past year was $6.3 million for 46-48 Argyle Place, Millers Point, a five bedroom house.
Teena Vaughan (pictured below) was the third best selling McGrath agent on the REB top 100, with over 20 years experience.
She secured $124 million in sales. Her highest recorded sale price in the past year was $4.5 million for 4 Hillside Crescent, Epping, a six bedroom house sold by private treaty last December.
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McGrath's top selling agent was Matt Steinwede with $271 million in sales followed by Peter Chauncy with $207 million in sales.
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j.ballantyne1990-6AQqhLzZaK

Women leading the McGrath agency recovery

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McGrath is on track to achieve its targeted $1 million in full-year earnings for 2018.
In a note to the ASX this afternoon, the listed real estate agency said it would achieve earnings before interest and depreciation of $5 million but would then have $4 million in one-off expenses.
There will also be a further $35 million write down of goodwill for the company-owned agencies, which the business acquired in 2015 ahead of its float, leading to a net loss for the full year.
The $35 million write-off is in addition to the $21.8 million impairment to company-owned agencies incurred at its half year.
There was also another $1.1 million goodwill impairment of property management rights.
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<div>"The past 12 months have been very challenging for McGrath," McGrath chief executive Geoff Lucas said.</div>
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<div>"While reduced sales volumes during 2018 impacted the performance of the business, I am pleased with the recent initiatives and the positive rebuilding of the business we have seen."</div>
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More details on the conditions and outlook will be provided at the annual results presentation on August 20.
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<a href="/news/who-is-aqualands-jin-lin-the-second-biggest-shareholder-in-the-mcgrath-estate-agency">Aqualand</a> will eventually take a 15 per cent stake in the company.
Shares in McGrath were trading unchanged at 38¢ at market close.
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"Since I returned to the company in February, we have done a lot of work looking at the coalface of the business and stabilising staff and operations," Fairfax Media reported Lucas saying.
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<div>"I'm pleased that it is paying off and we are generating interest in our recruitment of new staff."</div>
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McGrath on track to reach forecast earnings despite weakened overall property market

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McGrath Estate Agents has terminated the employment of David Imrie, a high profile sales agent operating from its Newtown office.
It came after he pleaded guilty to offences incurred in his previous employment, as Keep Australia Beautiful NSW chief executive.
The Daily Telegraph reported Imrie processed dodgy payments for himself from February 2015 to December 2016 at KAB.
Imrie used the charity’s money to pay off personal debts, book a seaside resort in Thailand, buy $47,700 of shares in racehorses and spend $1056 on a meal at Tetsuya’s, a top Sydney restaurant.
Imrie was arrested last August and recently pleaded guilty to 17 fraud charges in the NSW Local Court.
Magistrate Suzanne Seagrave found Imrie had betrayed the trust placed in him by the charity and sentenced him to 18 months in jail, with a minimum non-parole period of 10 months. He was ordered to compensate the charity by $89,829.
David Hastings Imrie, 49, launched an appeal against the severity of the sentence in the NSW District Court last Thursday.
An agreed statement of facts obtained by the News Corp newspaper, <a href="https://www.dailytelegraph.com.au/newslocal/inner-west" target="_blank">The Inner West Courier</a> detailed how Imrie used cheques, transfers and credit card payments to swindle the organisation.
His last property sale was July 1 at $970,000 in Eskineville.
His sales record suggests he sold nine inner west properties <a href="/news/david-imrie-rejoins-mcgrath-estate-agency">since he rejoined the McGrath agency last May</a>.
Following the decision by the court, his employment was immediately terminated, with Imrie no longer associated with the estate agency. 
“McGrath is committed to its high professional standards and code of conduct and as such, have acted appropriately and swiftly in this matter," Kon Stathopoulos, head of sales for McGrath’s company owned offices said.
"McGrath has provided access to the company’s employee assistance program and counselling support throughout," he noted.
Magistrate Seagrave noted the guilty pleas entered by Imrie and he had no past criminal convictions.
Imrie’s appeal returns to the court in September.
Police submitted that Imrie “made no effort to reimburse” Keep Australia Beautiful NSW, which relies on donations and grants for its conservation efforts.
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David Imrie departs McGrath Estate Agency after pleading guilty to stealing from Keep Australia Beautiful 

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Two McGrath offices in the Hunter region – Charlestown and Hunter Valley – have joined Belle Property.
Anthony Di Nardo saw a gap in the local market for a brand that he thinks will offer a more personalised and tailored approach but with the backing of a full suite of real estate services. 
“We wanted to create a better experience for our clients,” said Di Nardo.
“The Belle Property brand is progressive, accessible and flexible and we truly believe that the systems, processes and beautiful marketing that Belle Property has is the right fit for us and our clients.”
The Charlestown and Hunter Valley are well-established businesses, with Matthew McBrearty, Peter Kunov and Larissa Bridge leading the teams. 
Peter Hanscomb, CEO of Belle Property said the Newcastle and Hunter Valley region were going through a huge transformation.
."The growth in the market and the amount of investment that is coming into the area is staggering,” he said, adding the region has become increasingly popular for Sydneysiders looking for a more affordable lifestyle, yet still within reach of Sydney, beaches and vineyards.
Belle Property Charlestown is located at 325 Charlestown Road, Charlestown, and Belle Property Hunter Valley is located at 43 Elgin Street, Maitland.
Meanwhile The Agency is further expanding into regional NSW with Charlie Lund and her team, the number one agent in Aberglasslyn in both 2017 and 2015.
“Charlie Lund and her team have been running an extremely successful and highly regarded real estate business in the Hunter Valley region for over a decade,” Matt Lahood, CEO of The Agency, said.
“Charlie is a passionate local resident who holds a great deal of trust and respect in the community, this has led to an extraordinary level of referral and repeat business."
"A multi-talented agent, both auctioneer and licenced stock and station agent, we are truly privileged Charlie has decided The Agency is the best fit for her business moving forward.”
Charlie Lund has made 135 sales in the last 16 months.
She has been achieving above average sale prices in the region.
The median sale price in the following Hunter Valley suburbs were Aberglasslyn $465,000; Ashtonfield $565,000; Bolwarra $628,000; Lorn $588,000; Morpeth $499,500; Paterson $710,000; and Rutherford $392,250.
* 22 Arrowgrass Street, Aberglasslyn (pictured below) $711,000.
<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/2018/6/29/Lund%201.jpg" alt="">
* 69 Ballydoyle Drive, Ashtonfield $780,000.
* 55 Kensington Road, Bolwarra $1,150,000.
* 6 Stuart Street, Lorn (pictured below) $795,000.
<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/2018/6/29/Lund%202.jpg" alt="">
* 76 High Street, Morpeth $800,000.
* 13 Duke Street, Paterson - sold at Auction for $931,000.
* 7 John Verge Drive, Rutherford (pictured below) $710,680.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/29/Lund%203.jpg" alt="">
Having been part of a McGrath franchise office to date, she said that her decision, “was based on being able to join Australia’s fastest growing brand that is attracting the top performers in the industry,”
“I am excited to be in control of the business I am building, the quality of service that I can provide to my clients and the choices that affect my clients, my future and that of my team".
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McGrath Charlestown and McGrath Hunter Valley rebrands to Belle Property

Apartment developer Aqualand - which this week signed up to become the McGrath estate agency&#39;s second biggest shareholder - is controlled by the Lin family.

Scion &quot;Jim&quot; Jin Lin heads the business.

Lin hit the headlines when the family acquired the $52 million mansion Villa Igiea in Vaucluse.

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Villa Igiea,&nbsp;the&nbsp;magnificent European style villa, was bought from Dr Wayne Burt, during the final business hours of 2015.

There were headlines again when he lodged plans for a $22 million renovation that would see the neighbouring house rebuilt as a three-storey residence with the two properties joined via a basement and shared carpark.

Permission was given in April this year on the November 2016 Tzannes Architects proposal which involved 1800 sqm of excavation.

The two Queens Avenue homes covering 2900 sqm are registered in the name of Lin&rsquo;s mother, Yunhui.

<img alt="" src="https://www.urban.com.au/images/2018/6/22/vaucluse.png" />

Lin is the Chinese-born, 28 year old in charge of residential developer&#39;s $5 billion apartment pipeline.

Aqualand, which was launched in 2013, has projects at Lindfield and North Ryde on Sydney&#39;s north-side. Another of its projects include Blue at Lavender Bay, the residential conversion of an 18 level commercial office building.

There&#39;s also the ultra-luxury 46-unit project, The Revy, at the heritage-listed waterfront warehouse adjacent to the Seven Network headquarters in Pyrmont, where designer Blainey North was commissioned to undertake its interiors.

It has plans for a mixed-use residential complex of nearly 1200 units over five hectares, in Melrose Park, Meadowbank, along Sydney&#39;s Parramatta River.

Apartment developer Aqualand has been very active and recently made former Mirvac head of residential John Carfi its new chief executive.
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Their stake in McGrath cost around $10.7 million.

[smartcode_project:default project_id=24323]

Aqualand is also a vested corporate citizen, sponsoring sporting and cultural initiatives such as The Australian Ballet, Sydney Film Festival, Sculpture by the Sea (Bondi), and the Western Sydney Wanderers.

Aqualand is backed by capital from its parent company, Shenglong Group which has $25 billion in investments and development in China, Europe, the US and Australia.

He is the only son of Chinese property mogul Yi Lin, head of Shanghai-based property group, Shenglong.

The two are reportedly close, speaking three to four times a day.

Lin senior was a sub-contractor but started his own development company in 1999 in their hometown of Fuzhou in the southern province of Fujian in China.

The company has developed 30 million square metres of property.

The younger Lin, a finance graduate from Macquarie University in Sydney, went to his father&#39;s construction sites every day as a child.

The Lin family migrated to Australia 16 years ago.

Their hillside Vaucluse mansion, inspired by the grandest of villas in Palermo, Sicily, dates back to the 1920s when built for the Grace retailing family (below).

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The property&#39;s prior owner was Charlotte Sargent, whose&nbsp;husband George Sargent, the founder of Sargent&rsquo;s Pies, named their then house, Hartley Hope.
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The photographs taken at the property by Sam Hood in 1939 at the pre-wedding cocktail party for Mr Grace and Miss Miller, hosted by Isabel Grace, show the property.

In 1939 Sam Hood took a photograph entitled Pre-wedding cocktail party for Miss Miller and Mr Grace, given by Mrs I Grace at her home, &quot;Villa Igiea&quot;, Vaucluse.

Source: State Library of NSW, Sam Hood Collection.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/22/vaucluse3.jpg" />
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Villa Igiea was the long-time home of the late TNT transport tycoon Sir Peter Abeles and then his widow, Lady (Kitty) Abeles.

Its first update came during the McWilliam family&rsquo;s ownership, then its contemporary refurbishment by Paris designer India Mahdavi which featured in the April 2013 Vogue.

Dr Burt had paid $17.37 million in 2005, then adding an adjoining 800 sqm property with house in 2009 costing $4.9 million, which was anticipated as a tennis court block.

Source: State Library of NSW, Sam Hood Collection.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/22/vaucluse2.jpg" />

For a time James Packer was interested in buying Villa Igiea but instead bought La Mer in 2009.

Set above Hermit Bay, Villa Igiea was built on its 2200 sqm block in the Riviera Liberty style to a design by Neville Hampson, the architect who also designed Boomerang at Elizabeth Bay.

It became one of Sydney&#39;s leading short term luxury rentals, occupied by Texan billionaire Jim Clark and his wife, Kristy Hinze-Clark as their Sydney to Hobart race-winning bolthole.

Villa Igiea, which had enough space to host Angelina Jolie, Brad Pitt&#39;s wife, and their six children, could command up to $70,000 a week.

[smartcode_project:default project_id=5770 project_image_fid=24110]
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Who is Aqualand's Jin Lin, the second biggest shareholder in the McGrath estate agency

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Real estate agency McGrath have advised they are looking at subdued earnings in the current period.
It told shareholders their results would be at the bottom end of their forecasted earnings.
They made the brief statement when announcing their link with Aqualand.
The update read "the performance for the financial year ending 30 June 2018 will be at the lower end of the previously provided guidance."
This is in reference to the earlier guidance they had to halve in March.
They said they have anticipated the lower earnings after having regard for recent trading and real estate market conditions. 
They said the underlying EBITDA is expected to be $5 million, but $4 million in one-off costs will bring that down to $1 million.
 
 
 
 
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McGrath set to announce subdued earnings

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McGrath has secured a strategic equity investment from Aqualand Group, one of Australia’s premier residential property development and investment groups.
The significant stake achieves "strategic commercial alignment" between McGrath and Aqualand, with Aqualand entitled to appoint a director to the board.
Aqualand has also agreed to grant McGrath the first right to discuss being appointed as an agent for new Aqualand projects expected to come to the market in future years, or provide property management services for leased apartments within new projects.
Aqualand was established in Australia in 2014 and has since generated a portfolio of 18 sites, with a collective gross development value of approximately $5 billion. Its project include Blue at Lavender Bay, the residential conversion of an 18 level commercial office building. 
Aqualand, along with Grocon and Scentre Group, were selected earlier this year to deliver the Central Barangaroo precinct. 
Aqualand Australia has former Mirvac head of residential, John Carfi, running its Sydney-focused operations.
Aqualand is also a vested corporate citizen, sponsoring sporting and cultural initiatives such as The Australian Ballet, Sydney Film Festival, Sculpture by the Sea (Bondi), and the Western Sydney Wanderers.
Aqualand has advised McGrath that CEO of AL Capital, Wayne Mo, is their nominee to the board of directors of McGrath. 
The placement of 25,189,880 shares at $0.425 per share will take place in two tranches, with the second tranche of 11,568,042 shares subject to ordinary shareholder approval.
Following completion of both tranches, Aqualand will be the second largest shareholder of McGrath with a 15% relevant interest.
Under the first tranche, which has now completed, Aqualand has acquired an initial stake of 8.7% in McGrath.
The second tranche, which is conditional on McGrath shareholder approval, will give Aqualand a further interest of 6.3% in McGrath.
The agreement has an initial term of five years and can be renewed for two further terms of three years each by agreement between the parties.
The ASX update said the agreement would be terminated on a change of control of McGrath or if John McGrath ceases to have a substantial holding in McGrath and ceases to be actively involved in the management of McGrath.
John McGrath who founded the company, remains the largest shareholder and executive director.
He said the partnership showed confidence in McGrath.
“The addition of a new strategic shareholder in Aqualand, represents a great vote of confidence in the future of McGrath Limited.
"Aqualand is one of Australia’s highest quality property developmentand investment groups and its addition as a major shareholder and board representation provides McGrath the opportunity to continue to grow our Project Marketing expertise and develop even stronger ties with the inbound investment.”
McGrath CEO Geoff Lucas said its is an opportunity to grow the business.
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“The Australian real estate market is becoming more sophisticated and relationships and channels are more important than ever before," Lucas noted.
"Working closely with a major shareholder like Aqualand, which owns some of the best residential development sites in the country, represents a great opportunity to grow our business in project marketing. 
"The capital raised in the placement will also allow us to take advantage of any strategic acquisition opportunities that arise over the next couple of years. 
"McGrath is currently in a stabilisation and turnaround program and this transaction and relationship underpin our momentum to return to being Australia’s pre- eminent residential property brand.” 
AL Capital CEO Wayne Mo said Aqualand is pleased to enter into the strategic relationship with McGrath.
"We have observed McGrath for some time and have developed a positive view of the overall business operation and the capability of the McGrath leadership team. We believe McGrath has good potential for future growth and that this growth will only be enhanced by our new strategic relationship.” 
Earlier this year stockbroker Bell Potter called McGrath share's a sell, shortly after it bottomed at a then all time low of 50 cents a share.
The share price plummet and internal divisions on future directions prompted John McGrath to take back over the reigns of the agency.
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McGrath secure $10.7 million strategic investment from Aqualand

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<div>Melbourne auctioneer and agent, Aaron McDonald has been welcomed back to Ray White. </div>
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<div>Mr McDonald had been running his own business, before joining a local agency where he was awarded the number 1 sales agent from 2014-2017 across Melbourne's eastern suburbs. </div>
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<div>Ray White Group chairman Brian White welcomed Mr McDonald back home. </div>
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<div>“It’s always a great compliment when agents of Aaron’s calibre come back to our group. If you want to go fast, go alone but if you want to go far, go together," Mr White said. </div>
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<div>McDonald was selling homes in Whitehorse, in particular the suburb of Blackburn.</div>
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<div>Domain indicated Aaron McDonald from McGrath Blackburn had sold 11 properties in the last 12 months , with an average sale price of $1.2 million and total sales valued at $13.3 million. Aaron worked with Grant Lynch, Ian van Eijk and Rachel Lau on three of these sales.
Aaron sold 9 houses and 2 apartments with 1 sales by private treaty and 10 by auction, and these properties were on the market for an average of 25 days.
Aaron's highest recorded sale price was $2.3 million for 11 Jeffery Street, Blackburn, a 5-bedroom house which sold by auction last October.
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