For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Middle Park

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A modern Middle Park trophy home sold prior to its weekend auction for $3.9 million, well above its pre-auction expectations.
The home at <a href="https://www.realestate.com.au/sold/property-house-vic-middle+park-134809230" target="_blank">56 Patterson Street</a> was offered through Greg Hocking Real Estate whose price guide had been $3.5 million to $3.7 million.
The $840,000 build came in 2009 after the 400sqm block was bought for $1.78 million in 2007, according to CoreLogic.
<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/2020/NOV/30/Middle%20Park%202.jpg" alt="">
The tuckpoint-brick Victorian retains its original front verandah, overlooking the front rose garden.
It was extended over a decade ago to add a rear kitchen, dining and family space which flanks a swimming pool. 
The result continues a string of post-lockdown sales including a $3.62 million sale on the previous weekend, after having been listed with $3.4 million vendor hopes.
It was a two-bedroom 93 Harold Street offering.
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jchancellor-FAypfDUnLy

Middle Park trophy home sold for $3.9 million

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Alder, a federation style period home in Middle Park, Victoria has been offered for sale for the first time since 1964.
It has been listed with a price guide between $5.8 million to $6.3 million. 
The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-vic-middle+park-132905282" target="_blank">117 Harold Street</a>. 
Set on a 795 sqm allotment, the freestanding house comprises nine principle rooms including living rooms, kitchenettes and roof attic. 
<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/2020/2/24/middle%20park%202.jpg" alt="">
Alder comes with sun-drenched backyard and established front garden entrance plus double garage. 
Other features include high ceilings, open fireplaces, bay window and bluestone foundations and three street frontages. 
<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/2020/2/24/middle%20park%203.jpg" alt="">
The house is located only 100 metres from the beach and moments to Albert Park Lake, villages, public transport and schools. 
Simon Carruthers and Michael Szulc of Cayzer Real Estate Albert Park have the listing. 
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j.ballantyne1990-6AQqhLzZaK

Middle Park federation style trophy home hits the market 

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A Middle Park Edwardian house situated close to beach and trams has hit the market.
It has been listed for sale with $3 million to $3.3 million hopes. 
The three bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-vic-middle+park-132908626" target="_blank">163 Richardson Street</a>. 
It was a former corner shop.
Set on a 332 sqm block, the home comes with sitting room, modern kitchen, casual living and dining room and north-facing garden. 
Other features include large workshop, off street parking and open fireplace.
The dual lots on the one title provide an opportunity to create two residences (STCA). 
The house is situated within walking distance to Middle Park Village, Albert Park Lake and schools.
Oliver Bruce and Sarah Wood of Marshall White Port Phillip have the listing. 
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Middle Park Edwardian former shop home hits the market 

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Billionaire Computershare co-founder Chris Morris has sold his renovated Art Deco Middle Park trophy home.
It is believed to have sold between $12 million and $13 million.
The Beaconsfield Parade property on 925 square metres was an Art Deco block of flats before Morris converted it to a family home.
<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/2019/7/31/middle%20park%201%201.jpg" alt="">
He commissioned Chamberlain Javens Architects to create the three storey property with four bedrooms, five bathrooms and formal and informal living and dining areas.
In the gardens is a swimming pool and a self-contained apartment above the garage.
It sold through Kay &amp; Burton South Yarra agent Michael Armstrong and Cayzer's Geoff Cayzer with interiors by Kerry Phelan Design Office,
Morris founded share registry company Computershare with his sister Penelope Maclagan in 1978.
This article was first published in the Weekend Australian. 
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Billionaire Computershare co-founder sells Middle Park trophy home

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A north-facing Edwardian residence at Middle Park has been listed via an expressions of interest campaign.
It has been offered by Darren Lewenberg and Ross Savas from Kay Burton South Yarra.
They expect $7 million to $7.7 million.
The home at <a href="https://www.domain.com.au/64-nimmo-street-middle-park-vic-3206-2014987654" target="_blank">64 Nimmo Street </a>consists of four bedrooms, four bathrooms, a swimming pool and a separate self-contained apartment.
The interiors feature of the family home include sitting room, north-facing open plan living and dining, kitchen with high end design, main bedroom with walk-in robe and three further fitted bedrooms. 
The property last traded at $3,155,000 in 2009.
<img src="https://www.urban.com.au/images/2019/3/5/middle%20park%202.jpeg" alt="">
Additional highlights include air conditioning, integrated speaker, gas open fireplace, sheer walls of glazing, and crafted oak wall cladding.
It's within a few minutes’ walk of the beach and Middle Park village, and convenient to Albert Park Lake, schools, light rail, library and Melbourne Sports &amp; Aquatic Centre.
<img src="https://www.urban.com.au/images/2019/3/5/middle%20park%203.jpeg" alt="">
The expressions of interest campaign ends on March 9. 
The suburb's median house price sits at<a href="https://www.domain.com.au/64-nimmo-street-middle-park-vic-3206-2014987654" target="_blank"> $2.55 million</a> according to CoreLogic.
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Edwardian Middle Park home listed with $7 million plus hopes

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Melbourne's highest weekend sale was $5.44 million in Middle Park through Cayzer Real Estate.
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It was an <a href="https://www.realestate.com.au/property-house-vic-middle+park-128298970" target="_blank">original Edwardian residence</a>, with Little Page Street along its side, offered for the first time in over 60 years. 
It was sold by Michael Szulc and Geoff Cayzer from Gayzer Real Estate.
<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/2018/6/5/middle%20park%202.jpg" alt="">
The 80 Nimmo St house comes with four bedrooms, combined living/dining, kitchen incorporating meals, bathroom and sunroom.
Its location with Little Page Street along its side allowing abundant natural light and easy access.
<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/2018/6/5/middle%20park%203.jpg" alt="">
Its price guidance was based on other comparable sales.
A recent sale nearby is a Canterbury Road six bedroom house.
It was sold at $5.575 million on February 24.
<a href="https://www.realestate.com.au/sold/property-house-vic-middle+park-127461722" target="_blank">The 33 Canterbury Rd </a>house comes with five bedrooms, gourmet kitchen, light-filled living and dining area and private garden.
Another<a href="https://www.realestate.com.au/sold/property-house-vic-middle+park-126188014" target="_blank"> 136 Page St </a>five-bedroom house in Middle Park was traded at $6.4 million last year. 
The suburb's median house price sits on $2.2 million, according to CoreLogic. 
 
 
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Middle Park trophy home fetches $5.44 million

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The London-bound Zeger Degraeve, the former Dean of Melbourne Business School, sold his Middle Park home mid-week.
<a href="https://www.realestate.com.au/property-house-vic-middle+park-127640598" target="_blank">The two level modernised 1900s Victorian</a> cost Degraeve $1.72 million in 2012 when it was bought from the former Melbourne AFL player Alistair Nicholson, turned chief executive officer of the Australian Cricketers' Association, and wife Julia.
Its extension was designed by Matt Gibson and shortlisted in the Australian Institute of Architects’ National Architecture Awards.
Featuring a classic arched hallway entrance, the four bedroom home was listed through Cayzer Real Estate Albert Park agent Simon Carruthers who had a guide of $2.4 million to $2.6 million for its auction last weekend. It was subsequently sold at $2.65 million.
<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/2018/4/5/middle%20park%202.jpg" alt="">
Degraeve announced his retirement as the Dean last year after spending six years in the role. 
He completed his PhD at the University of Chicago Booth School of Business before taking roles at the universities in his home country of Belgium then London.
<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/2018/4/5/middle%20park.jpg" alt="">
<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/2018/3/28/MIDLLE%20PARK%203.jpg" alt="">
This article first appeared in The Weekend Australian.
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Former Melbourne Business School Dean sells in Middle Park

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A near-new home on the seaside strip at Middle Park, designed by Bojan Simic Architecture to resemble a ship, has been listed for sale.
The luxury residence at <a href="https://www.realestate.com.au/property-house-vic-middle+park-126396874" target="_blank">203 Beaconsfield Parade</a> has been listed by Chisholm &amp; Gamon, Elwood, agent Torsten Kasper.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/06/Middle1.jpg" alt="">
After its three year construction project, it was finished in February and now listed as the owners, the Moreno family are spending most of their time overseas.
Offered are due October 9, with a price guide of $6.9 million to $7.5 million for the three bedroom home with 150sq m of terraces and 370sq m of internal space.
This article was first published in The Weekend Australian property section.
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Middle Park home designed like a ship listed for sale

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An Edwardian Middle Park house has sold for $6.4 million making it Melbourne’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-middle+park-126188014" target="_blank">136 Page Street</a>, the renovated 553 sqm property has three street frontages.
Built in 1920 it last sold in 2015 for $5.5 million.
It features a formal and informal living and dining spaces with period features.
There is also a rear garden that includes a pool and second courtyard.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/10/136%20Page%20Street-2.jpg" alt="">
The garaging is rear access via Little Page Street.
The property was offered through Marshall White agents Kaine Lanyon and Oliver Bruce.
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Edwardian Middle Park house sold for $6.4 million

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The recently retired Crown Resorts Melbourne boss Rowen Craigie has sold his 1920s Middle Park home.
He and wife Susan Byrne have secured a reputed $7 million for the home that they paid $2,221,000 for in 2006, just before Craigie took the top job at Packer's casino empire.
Its reputed buyer is NAB boss Andrew Thorburn, who recently sold his St Kilda Road penthouse in the Royal Domain Tower.
The Middle Park home on a 550 sqm corner parcel is positioned between the Lake and the Bay.
Thorburn paid $3,235,000 for his apartment (below) in 2014 when he came from New Zealand to be NAB's managing director and group chief executive officer.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/07/Thorburn1.jpg" alt="">
Set on the 21st floor of the landmark building, the apartment has three bedrooms and three bathrooms.
Kay &amp; Burton South Yarra agents Grant Samuel and Ross Savas sold the apartment in under a month on market.
Craig, who stepped down as the chief executive of Crown after 10 years in February, retains a Blairgowrie retreat. 
 This article first appeared in the Weekend Australian Mansion Australia section.
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