<p>Kokoda Property Group has announced the Sydney-based Versatile Construction as the builder for its landmark $1.5 billion <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> precinct.</p>

<p>Construction of the 17,612 sqm site is scheduled to commence in December 2025 and is expected to be delivered in stages from 2028. Once complete, <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> will comprise 212 residences across four architecturally distinct buildings, alongside Brisbane’s first Kimpton Hotel, extensive retail, hospitality, and wellness amenities.</p>

<p>[smartcode_project:default project_id=139896 project_image_fid=295098]</p>

<p>Kokoda Property Group Founder and Managing Director, Mark Stevens, said appointing Versatile Construction marks a significant milestone for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.</p>

<p>“Partnering with Versatile Construction gives us confidence in delivering a precinct that sets a new benchmark for luxury living, curated experiences and vibrant riverfront activation," Stevens said.</p>

<p>"Together, we will bring the vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> to life, creating a destination that residents and visitors will enjoy for generations."</p>

<p>Throughout the construction phase, more than 2,000 jobs will be created, supporting hundreds of local contractors and suppliers.</p>

<p>[smartcode_project:default project_id=139896 project_image_fid=352274]</p>

<p>Marco Fahd, Chairman &amp; CEO at Versatile Group, said the company is looking forward to&nbsp;expanding their footprint in the state, taking on their inaugural project in Brisbane.</p>

<p>"We are proud of the unwavering commitment our team of experts have to quality and certainty in delivery and are excited to work with Kokoda to bring their vision for this unique project to life," Fahd says.</p>

<p>Sales reached $285 million on the launch of <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>, with sales momentum continuing to "exceed all expectations."</p>

<p>Stevens says the overwhelming response from buyers validated the group’s vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.</p>

<p>“The demand for a luxury product in this enclave has been extraordinary, we’ve never seen anything like it before. It reinforces everything we’re doing around quality, design, and creating genuine lifestyle precincts. Buyers are recognising the enduring value of Brisbane’s riverfront and are responding to the opportunity to live within a world-class destination that celebrates both place and lifestyle.”</p>

<p>[smartcode_project_cta:default project_id=139896]</p>


Joel Robinson

Kokoda appoints builder for $1.5 billion Teneriffe Banks waterfront precinct

<p data-end="246" data-start="85">Castle Hill’s booming development market is set for another boost, with builder-developer Buildex proposing a new mid-rise apartment building near Castle Towers.</p>

<p data-end="467" data-start="248">Buildex has submitted plans to The Hills Shire Council for a <a href="https://www.apartments.com.au/new-apartments/197-old-northern-road-castle-hill-nsw-2154">nine-storey building comprising 57 apartments</a> on Old Northern Road. The company acquired two adjoining sites earlier this year, totalling more than 2,683 sqm.</p>

<p data-end="597" data-start="469">Texco Design has prepared the scheme, which includes five one-bed plus study apartments, 37 two-bedrooms, and 15 three-bedrooms.</p>

<p data-end="836" data-start="599">Castle Hill has become a hotspot for developers in recent years, undergoing significant transformation driven by the opening of the Hills Showground Precinct to development and the introduction of two metro stations servicing the suburb.</p>

<p data-end="1053" data-start="838">Developers including Deicorp and Kassis Homes have already completed projects, and are progressing future developments, while Meriton, Arada, and Ellipse are currently delivering new projects in the rapidly evolving area.</p>


Staff Writer

First look: Buildex plans 57 apartments near Castle Towers

<p>Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/immerse-projects">Immerse Projects</a>&nbsp;has unveiled what it intends to deliver at its recently acquired Toowong site, its debut apartment development in Brisbane.</p>

<p>Immerse, founded by John Kearney who is also the founder of regarded construction company Greyburn, secured the prime Sylvan Road site <a href="https://www.apartments.com.au/news/qld/first-look-immerse-projects-moves-into-brisbane-apartment-market-with-toowong-site-acquisition">earlier this year</a>, in an area which has historical significance to Kearney who&nbsp;studied at the nearby University of Queensland.</p>

<p>"It feels like a full circle moment," Kearney told&nbsp;<a href="https://www.apartments.com.au/" target="">Apartments.com.au</a>.&nbsp;</p>

<p>“I spent many nights at the Regatta Hotel just down the road, as have most people in&nbsp;<a href="https://www.apartments.com.au/developments/brisbane-qld" target="">Brisbane</a>. It’s one of the city’s most well-known hotels, and with several cafes, restaurants, and a CityCat stop nearby, it’s become an even more attractive place to live.”</p>

<p>He is planning a <a href="https://www.apartments.com.au/new-apartments/22-24-sylvan-road-toowong-qld-4066">15-storey project with 88 apartments</a> above an activated ground plane with a shop and hospitality spaces.</p>

<p><img alt="Toowong podium" data-entity-type="file" data-entity-uuid="c350436b-9d64-46cc-ab6f-defc009e1b65" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_0.png?VersionId=zt7A0_14M62TkZ61YHnGmEck9KM9HqDA" /></p>

<p>The architecture, led by <a href="https://www.apartments.com.au/interior-designers/bda-architecture">BDA Architecture</a>, presents a tower massing that responds to the area's evolving mid-rise context. The scheme incorporates podium and rooftop communal spaces, while the commercial elements aim to activate the Sylvan Road frontage and enhance the site's interface with the adjacent parkland.&nbsp;</p>

<p>Landscaping plans by Ivy May Landscape Architects include subtropical planting and deep soil zones to support stormwater management and visual integration.</p>

<p>Supporting documentation from Mewing Planning Consultants notes that "the proposed development will deliver a mixed-use outcome that enhances the vibrancy of the Sylvan Road corridor" and highlights its proximity to high-frequency public transport and community facilities.</p>

<p><img alt="First look: Immerse Projects moves into Brisbane apartment market with Toowong site acquisition" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/22-24%20Sylvan%20%20Rd%20Toowong_Markups.jpg?VersionId=u4_IGzpYLPFfAZSsgCZynov3bm7umwJ." /></p>

<p>&nbsp;</p>

<p>There's been little new apartment development in Toowong in recent years. The most notable is Consolidated Properties two-tower Monarch Residences, which is approaching completion with nearly all of its 224 residences sold.</p>

<p>Kearney describes&nbsp;<a href="https://www.apartments.com.au/developments/toowong-qld-4066" target="">Toowong</a>&nbsp;as a suburb with real depth.</p>

<p>"The suburb attracts everyone, from students to retirees, and that's what makes it interesting."</p>


First look: Immerse Projects reveals debut Brisbane apartment development in Toowong

<p><a href="https://www.apartments.com.au/developers/hyecorp-property-group">Hyecorp</a> is down to its final three-bedroom apartments at Audrey, the developer’s parkside St Leonards South project, pairing the remaining homes with a limited-time offer.</p>

<p>The developer is extending a five per cent deposit and a $50,000 settlement rebate on selected apartments, aiming to help owner-occupiers secure one of the final homes ahead of move-in in early 2026.</p>

<p>[smartcode_project:default project_id=110379 project_image_fid=311393]</p>

<p>Located on Canb​erra Avenue opposite Newlands Park, <a href="https://www.apartments.com.au/new-apartments/audrey-st-leonards-13-19-canberra-avenue-st-leonards-nsw-2065">Audrey</a> comprises 102 residences, including a mix of three-bedroom residences and a double-storey, five-bedroom terrace with two outdoor areas.&nbsp;</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> and delivered by <a href="https://www.apartments.com.au/builders/north-shore-property-construction">North Shore Property Construction</a>, the project reflects Hyecorp’s focus on owner-occupier planning, with open-plan layouts, extensive storage integration, and a material palette built around stone, oak timber flooring and bespoke joinery. Many of the three-bedroom apartments capture views toward the city and Harbour Bridge.</p>

<p>[smartcode_project:default project_id=110379 project_image_fid=207373]</p>

<p>Hyecorp’s internal design team, Jackson Teece, has emphasised a consistent level of specification across the building, including Miele appliances, integrated refrigeration, brushed metal tapware and large-format stone detailing that conceals cabinetry.</p>

<p>The Tiffany Collection, crowning the development on Levels 12 to 15, features added luxury of fluted standalone baths, heated bathroom floors, custom walk-in robes and upgraded appliance packages across its spacious 155 to 159 sqm homes.</p>

<p>[smartcode_project:default project_id=110379 project_image_fid=301367]</p>

<p>Beyond the private residences, Audrey carries a strong amenity focus. Residents have access to an indoor lap pool and spa, personal training studio, private cinema, music room and private dining room.</p>

<p>A landscaped rooftop terrace with CBD views anchors the communal offering, complemented by an onsite café and an integrated daycare centre within the project.</p>

<p>[smartcode_project:default project_id=110379 project_image_fid=198680]</p>

<p>The location continues to be a drawcard for buyers, with new retail additions at Mall 88, including Coles, alongside Woolworths and the established offerings of Forum Plaza. St Leonards Station and Crows Nest Metro is within easy reach, as are local health precincts such as the Royal North Shore Public and Private Hospitals. Nearby green spaces include Newlands Park, Gore Hill Oval and Naremburn Park, supporting strong day-to-day amenity for families and downsizers alike.</p>

<p>Hyecorp is expected to welcome residents to Hyecorp in early 2026.</p>

<p>[smartcode_project_cta:default project_id=110379]</p>


Audrey St Leonards nears completion – settlement bonus now available

<p><a href="https://www.apartments.com.au/developers/freecity">Freecity</a>&nbsp;has been given the green light to develop its flagship mixed-use project in the Crows Nest metro precinct.</p>

<p>The NSW Government's Housing Delivery Authority approved the 40-storey tower, aligning with the NSW Government's Transport Oriented Development (TOD) agenda to deliver more homes in highly connected, high amenity locations.</p>

<p>The $600 million tower, at 378-398 Pacific Highway, will comprise 178 apartments with resident amenities, two levels of commercial offices, and a curated retail offering. Freecity will also dedicate a 10 percent Affordable Housing Contribution, supporting the Governments broader housing objectives.</p>

<p><img alt="Freecity Crows Nest" data-entity-type="file" data-entity-uuid="4de9b03b-e8aa-4929-b3f1-6747acbe6b73" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20Crows%20Nest%20Project.jpg?VersionId=oWwFWxGj_oUFEYX4j_qRFdSzcShLw3DG" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the tower will offer a diverse residential mix, from one-bedroom homes to expansive four-bedroom penthouses, all crafted to maximise light, views and liveability.</p>

<p>Lawrence Zheng, Co-Founder and Joint CEO of Freecity Group, said the approval represents a significant step forward for both Crows Nest and Freecity.</p>

<p>"We are proud to be delivering a landmark project that brings new homes, new amenity and new economic activity to one of Sydney’s most strategically connected locations,"&nbsp;Zheng said.</p>

<p>"With our $6 billion pipeline of 12 mixed-use projects, this development reinforces Freecity’s commitment to helping deliver the housing supply and transport-integrated precincts the Government is championing.”</p>

<p>Michael Romano, Executive Director of Development, said the companies focus is on "creating places that genuinely enhance how people live day to day - communities that balance accessibility, amenity and neighbourhood vibrancy.”</p>

<p>“This project reflects the future of urban living - design led, highly liveable and seamlessly connected to the city’s major transport, employment and education hubs. Being directly opposite the Crows Nest Metro means residents can access the best of Sydney with unrivalled convenience."</p>

<p>&nbsp;</p>


Freecity secures approval for Crows Nest metro precinct tower

Millionaire

<html><body>
<p><span style="line-height: 1.3em;">According to </span><span style="line-height: 1.3em;">Time Magazine</span><span style="line-height: 1.3em;">, second citizenships are very popular among the wealthy of the world.</span></p>
<p><span>But where do they choose to move to?</span></p>
<p><span><strong>Net inflow of millionaires 2000 to 2014</strong></span></p>
<p><span>UK - 125,000</span></p>
<p><span>US - 52,000</span></p>
<p><span>Singapore - 46,000</span></p>
<p><span>Australia - 35,000</span></p>
<p><span>Hong Kong - 29.000</span></p>
<p><span>UAE - 18,000</span></p>
<p><em>Source; Time Magazine</em></p>
<p><span>Some of these locations will remain popular due to their favourable tax legislation.</span></p>
<p><span>Others will become more sought after due to them being desirable places to live.</span></p>
<p><span>I expect to see Australia moving up this list, particularly becoming a country of choice for with the wealthy of Asia. </span></p>
<p><span>We even have a visa system which encourages this. </span></p>
<p><span>Where would you move to, if you could live anywhere?</span></p>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
<p><span> </span></p>
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pwargent-M4siyDbqQY

The international flow of millioniares: Pete Wargent

<html><body>
<p><span>Despite global wealth growth of 2.6% during the past year, Australia's wealth per adult fell $U<span>SD 28,670, largely due to exchange rate effects and the falling Australian dollar, according to the latest Global Wealth Report from Credit Suisse.</span></span></p>
<p><span><span>They found that the composition of household wealth in Australia is skewed toward non-financial assets, which average $USD 275,420 and form 58% of gross assets. The high level of real assets reflects a large endowment of land and natural resources relative to the population, but also high property prices in the largest cities.</span></span></p>
<p><span><span>Therefore due to the recent fall in property values, that has in turn caused a decline in the per capita wealth of Australians, when factoring in exchange rates it is close to its 2011 level of $USD 384,640.</span></span></p>
<p>Despite the exchange rate effects, Australia’s wealth per adult is fourth highest in the world in US dollars. In terms of median wealth, it ranks second after Switzerland.</p>
<p>However the decline in average wealth in Australia still resulted in 124,000 fewer millionaires.</p>
<p><img src="https://www.urban.com.au/images/2019/10/22/Aussie%20Wealth.JPG" alt=""></p>
<p>Credit Suisse said, "the proportion of those with wealth above USD 100,000, at 66%, is one of the highest in any country and about six times the world average. With 1,307,000 people in the top 1% of global wealth holders, Australia accounts for 2.6% of this top slice, although it is home to just 0.4% of the world’s adult population."</p>
<p>"Household wealth in Australia grew quickly between 2000 and 2012 in USD terms, except during 2008. The average annual growth rate of wealth per adult was 12%, with about half due to exchange-rate appreciation against the US dollar. The exchange-rate effect went into reverse after 2012, with the Australian dollar declining 33% relative to the US dollar."</p>
<p>"Notably only 7% of Australians have net worth below USD 10,000. The latter figure compares with 17% in the United Kingdom and 27% in the United States," they concluded.</p>
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j.ballantyne1990-6AQqhLzZaK

124,000 fewer Australian millionaires due to property dip and the lower $AUD

<html><body>
<p>Sydney's millionaire tech heads love prestige waterfront property for their family compounds.</p>

<p>The Sutherland Shire-based tech richlister David Greiner has splashed out big time on an prized Cronulla beachfront site consolidation.</p>

<p>He has quietly spent $23 million plus on The Esplanade (above).</p>

<p data-gtm-vis-first-on-screen-7770372_137="102749" data-gtm-vis-has-fired-7770372_137="1" data-gtm-vis-recent-on-screen-7770372_137="102749" data-gtm-vis-total-visible-time-7770372_137="4000">Greiner is half of the publicity-shy duo from the Shire quietly who built one of Australia's most exciting technology companies over the past decade.</p>

<p>His property play highlights the passion for property held by Sydney's young tech heads.</p>

<p>Only last month the Atlassian co-founder, tech billionaire Mike Cannon-Brookes bought Australia’s most expensive house, the harbourfront jewel, Fairwater at Double Bay in Sydney's east for close to $100 million.</p>

<p>Cannon-Brookes 1.12 hectare acquisition followed his Atlassian business partner Scott Farquhar paying $71 million, without any mortgage next-door for another Fairfax family home, Elaine last year with plans for an architectural makeover by <span>Rome-based expat architect </span><span>Carl Pickering.</span></p>

<p>Greiner's off market purchases are at the southern end of Cronulla beach with the five acquisitions on a combined 1,175 sqm land holding. </p>

<p>His known purchases have ranged between $2.5 million and $8 million so far, with one further acquisition expected.</p>

<p>All but one are in Greiner's own name, with one purchased through a related company. </p>

<p>With the site consolidation not quite complete, his final outlay remains undisclosed, along with whether he intends to build a luxury family home or undertake apartment redevelopment plans in the long term.</p>

<p>Founded by Greiner and Ben Richardson, Campaign Monitor was billed as the next Atlasssian when it shot to prominence in 2014 selling a $348 million stake to US venture capital firms.</p>

<p>It makes software for email campaigns, with over two million customers at more than 200,000 businesses, with staff in Sydney, San Francisco and London. </p>

<p>Having started out in a garage in the Sutherland Shire, their most recent shared net worth was suggested as $600 million, second only to the billionaire tech head duo at Atlassian. </p>

<p>David and wife Renee live in Caringbah South, and own a Mollymook Beach weekender where last year they spent $2 million extending the Mitchell Parade holding, quickly securing approval for a tennis court.</p>

<p>Ben Richardson is building a luxury home at Shearwater Landing, on a 3350 sqm holding in the coastal Cronulla master-planned residential precinct.</p>

<p>He and wife Inger have no registered mortgage on the four building blocks that cost $12.6 million.</p>

<p>Friends since they were five-year olds, their company success emerged from their web design business which the pair launched when they were students in the late 1990s studying at the University of Wollongong.</p>

<p>In mid-2017 <span>Greiner and Richardson, the company's two Australian-based founders, relinquished all operational duties, but remained on the board on the company.</span></p>

<p>"As parents with young kids, they're taking the time they didn't have when building Campaign Monitor over the past decade to spend more time with their family," the spokesperson said at the time in a statement.</p>

<p data-gtm-vis-first-on-screen-7770372_137="102749" data-gtm-vis-has-fired-7770372_137="1" data-gtm-vis-recent-on-screen-7770372_137="102749" data-gtm-vis-total-visible-time-7770372_137="4000">Nautilus, built on Burraneer Bay for soft drink scion, Steve Shelley, is regarded as the Shire's most expensive home build.</p>

<p><span>The seven bedroom, six-storey mansion comes with its own bowling alley, home cinema and bar.</span></p>

<p><span>It was </span><span>crowned the Australian Home of the Year in t<span>he </span>2016 HIA-CSR Australian Housing Awards.</span></p>

<p><span>This article was first published in the Daily Telegraph.</span></p>

<h2><strong><span>Properties selling now in Sydney:</span></strong></h2>

<p>[smartcode_project:default project_id=29359]</p>

<p>[smartcode_project:default project_id=24323]</p>
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firstname1-iYD4UYzvBa

Shire tech head David Greiner secures Cronulla beachfront blocks

<html><body>
<div>2017 saw another large increase in global wealth, increasing by 6.4 per cent or (USD) $16.7 trillion to $280 trillion, driven by equity prices and non-financial assets, including housing.  </div>
<div> </div>
<div>Global wealth is projected by Credit Suisse to hit $341 trillion by 2022, driven largely by rapid growth in countries such as China and India. </div>
<div> </div>
<div>The US continued an unbroken run of gains since the financial crisis in 2017. </div>
<div> </div>
<div>The Eurozone saw the creation of 620,000 new US dollar millionaires as the currency picked up, and Australia once again punched above its weight in adding a further 202,000 millionaires, taking the total up from 958,000 to 1.16 million. </div>
<div> </div>
<div>Switzerland's wealth per adult has increased by by a thunderous 130 per cent since the turn of the century in US dollar terms to $537,600, albeit largely due to shifts in the exchange rate, according to the Credit Suisse 2017 Global Wealth Report. </div>
<div> </div>
<div>Among the countries in the world with available figures over the long term, Switzerland stands alone in seeing no decline in wealth inequality over the past century. </div>
<div> </div>
<div>Home to just 0.01 per cent of the global population, Switzerland alone accounts for some 1.7 per cent of the top 1 per cent of global wealth holders, with several thousand ultra-high net worth individuals with personal wealth in excess of $50 million. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Lucky country</span></strong></div>
<div> </div>
<div>Switzerland is something of an exceptional case as a tax haven, but next in line comes Australia with a mean wealth per adult of $402,600, partly driven by "high property prices in the capital cities", somewhat perversely.</div>
<div> </div>
<div>Australian household wealth gains have averaged 12 per cent per annum since the turn of the century, and the average debt to assets ratio is surprisingly low at only 20 per cent. </div>
<div> </div>
<div>68 per cent of Australian adults have a net worth of above $100,000, which is some eight times the world average. </div>
<div> </div>
<div>Meanwhile, New Zealand's wealth per adult moved ahead of Norway into fourth place in 2017. </div>
<p> </p>
<div class="separator"><img src="https://3.bp.blogspot.com/-oAbxOVJ3duU/WhAVKmtzpKI/AAAAAAAAnE4/mChi9Lws_5IQxWjWNSvVkAruPutHLyuhwCLcBGAs/s640/Australia.jpg" width="640" height="394" data-original-height="829" data-original-width="1340"></div>
<div> </div>
<div><span>Wealth inequality is relatively low in Australia, with a far smaller share of the population having a net worth of under $10,000 than the United Kingdom or US. </span></div>
<div><span> </span></div>
<div><span>Indeed, when measured in median terms Australia's wealth per adult of $195,417 is not too far off the highest in the world, with only Switzerland edging us out at $229,059. </span></div>
<div><span> </span></div>
<div><span>There are now 36 million high-net worth individuals in the world with a net worth of $10 to $50 million.  </span></div>
<div><span> </span></div>
<div><span>Some 2 million of them are located in China - nearly 40 times as many as at the turn of the century - with a further 6.3 million in India and other Asia-Pacific countries.  </span></div>
<div><span> </span></div>
<div><span>Perhaps not unrelated to this, Australia is projected to be home to 1.7 US dollar millionaires by 2022, up from 1.16 million today.</span></div>
</body></html>

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