Holiday home buyers who have long gravitated to Queenstown’s alpine setting are increasingly looking for low-maintenance apartments that allow them to lock up and leave, while still generating income when they’re away.

For Wendy, who had spent years visiting the Queenstown and Arrowtown region, <a href="https://www.apartments.com.au/developers/safari-group">Safari Group</a>’s Mountain Oak Apartments provided the opportunity to formalise what had previously been a recurring holiday pattern.

“We always had Queenstown in the back of our minds to buy something there as a holiday home,” she says. “We love the Queenstown and Arrowtown area.”

<img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/658d4f_48c3ec1ae5df4a2cab7d23c07c7f51b3~mv2.jpg?VersionId=27K8oQ4ExDN8Yu70VHDa9Olq59XU36m3" />

Time spent visiting her sister-in-law, who owns in Arrowtown, along with regular stays at Millbrook Resort, had already shaped a strong personal connection to the region.&nbsp;

Rather than approaching the purchase purely as an investment play, Wendy’s starting point was lifestyle.

“We were more thinking about ourselves and where we could stay, and then the rental aspect was second.”

Mountain Oak Apartments, located within the masterplanned Remarkables Park precinct in Frankton, aligned with that thinking. The ability to secure the apartment with a deposit and settle on completion made the timing work.

“The fact that we could put a deposit down with the balance on completion was a bonus for us,” she explains.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/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/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Wendy selected a two-bedroom, two-bathroom penthouse, a configuration that supports both private use and guest flexibility.

“The two-bedroom, two-bathroom configuration appealed from both a rental viewpoint and for the ability to have friends stay while we are there,” she says.

Across the development, two-bedroom apartments range from 64sqm to 78sqm, with two-bedroom plus flexi options from 71sqm to 75sqm, each with an allocated car park. The flexi layouts introduce an additional space suited to work or hobbies, reflecting demand from buyers who split their time between leisure and remote work.

Apartments include underfloor heating in bathrooms, heat pumps to living areas, and joinery positioned to maximise natural light and mountain outlooks. The Remarkables Park precinct is known for its extended winter sunshine hours, water frontage and open views toward The Remarkables.&nbsp;

Units come in light and dark interior colour schemes.

<img alt="Mountain Oak Apartments draws holiday home buyers to Queenstown" data-entity-type="file" data-entity-uuid="fd685a22-3b95-43a1-87cb-48fdd42bb4ba" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_f9f89107c2704ebbbe5a6b36da508cb3~mv2.jpg?VersionId=MigFIEm6b.mrANANwxSmwHvC4RdJUuyR" />

While lifestyle was the primary driver, the fundamentals of the Queenstown market added reassurance.&nbsp;

“Proximity to the airport and tourism being the main attraction all year round,” Wendy says, when asked what stood out from an investment perspective.

Mountain Oak sits just eight kilometres from Queenstown’s CBD and around a two-minute drive from Queenstown Airport.&nbsp;

For Wendy, that airport proximity carries practical value.

“The airport proximity is a bonus, we think that being so close will be an attraction for the convenience side.”

Residents are also a short drive from Coronet Peak, Jack’s Point Golf Course, New World Supermarket, Five Mile Shopping Centre, and the dining, medical, gym, cinema and library amenities within the town centre, as well as the seasonal Remarkables Market.

Importantly, the purchase does not lock owners into a single use. Mountain Oak offers the flexibility to opt for short-term visitor accommodation or longer-term residential rental management, with 365-day visitor accommodation consent in place. Owners can utilise Safari Group’s 24/7 on-site management service or appoint their own provider, and do not need to decide on a strategy immediately.

“It was a bonus that we can rent it out as well as use it for ourselves,” she says.

Additional buying options, including furniture packages and storage units available for purchase within the building, further support a lock-and-leave model suited to interstate and overseas owners.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Mountain Oak Apartments comprises 141 residences, ranging from one-bedroom configurations through to larger apartments and penthouses. One-bedroom apartments are currently priced from NZ$639,000, with three-bedroom options from NZ$1,299,000.

With 365-day visitor accommodation consent, the development is structured to respond to Queenstown’s established four-season tourism economy, spanning winter ski traffic and summer hiking, cycling, golf and lake-based activity.

Although Wendy acknowledges the strength of rental demand, her approach remains long term.

“We’re not planning to sell it anytime soon, so we are keen to hang on to it, but the passive income will be a bonus.”

Confidence in the developer also influenced her decision. Before proceeding, Wendy sought feedback within the local building community.

“We asked around and Safari Group had a good reputation,” she says.

Safari Group has delivered more than 2,000 hotel units and residential apartments across over 18 developments nationwide, with more than 25 years’ experience in the sector.

With completion anticipated by mid-2027, Mountain Oak is attracting a cross-section of buyers, from yield-focused investors to lifestyle purchasers seeking a foothold in one of New Zealand’s most tightly held alpine markets.

For Wendy, it represents both a future holiday base and a long-term asset within Queenstown’s year-round tourism economy.

Joel Robinson

How Mountain Oak Apartments draws holiday home buyers to Queenstown

Eduard Litver's Capitel Group is seeking to redevelop Chatswood's Mandarin Centre in the heart of the burgeoning suburb.

Capitel Group, in a joint venture with Metis Group, has filed a State Significant Development Application (SSDA) to demolish the Mandarin Centre and construct a 32-storey tower designed by Skidmore, Owings &amp; Merrill (SOM) with 325 apartments.

The 3,524 sqm site at 61A-65 Albert Avenue will also home extensive retail amenity, both at street-level and across a four-level podium.

<img alt="First look: Metis and Capitel unveil $1.2bn+ plan to redevelop Chatswood’s Mandarin Centre" data-entity-type="file" data-entity-uuid="905976ea-08cd-409f-8a4c-33a3fb8bf351" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1771923441002.png?VersionId=f_xI2ejpxQvEm4fPqGji01RY9_AWVY6O" />

In its early stage Design Report submitted to the NSW Government's Housing Delivery Authority, SOM describes the ambition for the project as one that “aims to revitalise and reactivate an important corner of the Chatswood CBD.”

The architects note that the existing shopping centre “has a lack of vertical connection between its five levels of retail and a cumbersome pedestrian access from the street to the second-level transit connection,” framing the redevelopment as an opportunity to reconfigure circulation and better integrate with surrounding transport infrastructure.

The design adopts a single tower configuration, shaped through early testing to respond to neighbouring buildings and key public spaces.

Retail activation is concentrated at ground and lower podium levels, with a focus on food and beverage, lifestyle and wellness tenancies. The intent is to create a more permeable ground plane and improve connections between Albert Avenue, Victor Street and the Chatswood transport interchange, located within walking distance of the site.

<img alt="First look: Metis and Capitel unveil $1.2bn+ plan to redevelop Chatswood’s Mandarin Centre" data-entity-type="file" data-entity-uuid="b1e0c8cb-ee9b-41c1-97ac-0455c043b9e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1771923442914.png?VersionId=y.Kbo.9bzLIbOabeygYts8Uf9imI.Dqh" />

The site occupies a prominent position on the southern edge of the Chatswood CBD core, bounded by Albert Avenue and Victor Street. It sits near the rail and metro interchange and within close proximity to Chatswood Chase, Westfield Chatswood, Chatswood Oval and a range of commercial office towers and residential buildings.

Chatswood has been one, and continues to be, of the most popular suburbs for developers in recent years. The most recent tower to launch is Hyecorp's Celine on Archer Street, which followed The Anderson by Changfa and Huirong.

Soon to launch is Coronation's Archer &amp; Albert nearby the new proposal.

Chatswood boom continues with Capitel and Metis’s $1.2 billion Mandarin Centre redevelopment

Apartment development applications continue to tally up in Rose Bay following the NSW Gov's 2025 update to the Low and Mid-Rise Housing Policy.

&nbsp;

Some $200 million worth of developments were filed in the space of four weeks at the back end of last year, with the likes of Fyve, HSN, Luxcon and Fortis all seeking to creating new apartment buildings.

The latest plans are for an amalgamated 3,105 sqm site across Conway Avenue, Fernleigh Avenue, and Carlisle Street. Developer Mathieson Property is planning <a href="https://www.apartments.com.au/new-apartments/dian-2-6-conway-avenue-rose-bay-nsw-2029">Dian</a>, 70 apartments across a new eight-storey building, perched on a ridgeline within walking distance of Rose Bay Town Centre.

The State Significant Development Application (SSDA), includes one-, two-, three- and four-bedroom configurations. Over 15 per cent will be dedicated as affordable, as per the NSW Government's push for affordable housing. The 17 apartments will be managed by a community housing provider for 15 years following completion of the building.

<img alt="First Look: Mathieson Property unveils eight-storey infill housing proposal ‘Dian’ in Rose Bay" data-entity-type="file" data-entity-uuid="f99c21d9-e69d-4a23-ae35-3244cfa0b4ae" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Rose%20Bay%20site_0.png?VersionId=67KSZfecJ3fvn1ewo9xxKrneRT.Nsjwd" />

MHNDU has designed the building around three central cores, with lower-level apartments arranged to maximise corner balconies and cross-ventilation. Upper levels are configured with dual north–south aspects to capture harbour views and solar access.

Private open space is a key feature of the scheme, with generous balconies and terraces throughout. Five ground-floor apartments would include private pools, while one upper-level residence will feature a rooftop terrace and pool. A communal room and adjoining landscaped outdoor terraces provide shared open space for residents.

<img alt="First Look: Mathieson Property unveils eight-storey infill housing proposal ‘Dian’ in Rose Bay" data-entity-type="file" data-entity-uuid="dd2e275f-c270-4eb1-9a02-2b573b8eb540" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Rose%20Bay%20front_0.png?VersionId=Us5jNEG6iLFLLMfQSzVBVdILYobBj.g9" />

The site sits around 365 metres walking distance of Rose Bay Town Centre and around 312 metres from regular bus services on New South Head Road, meeting the accessible area criteria under the Housing SEPP.

In early 2025, the NSW Government implemented significant changes to its Low and Mid-Rise Housing Policy, altering planning controls to allow greater density for new apartment projects within an 800-metre walking distance of stations and town centres in the&nbsp;<a href="https://www.apartments.com.au/developments/woollahra-nsw-2025">Woollahra</a>&nbsp;Local Government Area, overriding existing local controls. Buildings are now permitted to rise up to six storeys within 400 metres of a station or centre, or eight storeys where affordable housing is incorporated, and up to four storeys within the 401 to 800 metre radius, which can increase to six storeys with affordable housing.

Mathieson Property unveils Dian Rose Bay apartment development

Lower North Shore developer <a href="https://www.apartments.com.au/developers/hyecorp-property-group">Hyecorp</a> is preparing to launch <a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine</a>, its new apartment development in Chatswood.

Set within a blue ribbon location on Archer Street, Celine will rise on a quiet, tree-lined enclave on the edge of the South Chatswood Heritage Conservation Area, a short walk from the connectivity which Chatswood is famous for.

Celine will deliver 122 one, two, three, and four-bedroom residences, designed to accommodate a broad range of buyers, from owner-occupiers to investors.

[smartcode_project:default project_id=149594 project_image_fid=362610]

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/fuse-architecture-0">Fuse Architects</a>, the 29-storey tower has been shaped to respond to its Archer Street setting, with a defined podium and slender upper levels.&nbsp;

The building incorporates a two-storey residential lobby at the corner, double-height retail fronting Bertram Street, food and beverage tenancies along a through-site link, and two levels of commercial office space.&nbsp;

A landscaped pedestrian connection between Archer and Bertram streets will provide a publicly accessible link through the site, extending activity at ground level beyond the building footprint.

[smartcode_project:default project_id=149594 project_image_fid=362606]

Inside, Hyecorp is emphasising scale and flexibility. Most residences will incorporate multipurpose rooms, allowing buyers to configure additional living, study or guest space within their floorplan.&nbsp;

Kitchens have been designed with proportions more commonly associated with standalone homes, complemented by Gaggenau and Miele appliances, integrated refrigeration, Miele laundry appliances, Taj Mahal stone and bronze tapware.&nbsp;

Buyers will also have the option to tailor aspects of their home through the developer’s “Live Your Way” personalisation service.

Resident amenity will include an outdoor pool, gym and sauna, as well as barbecue and lounge areas designed for shared use. Upper levels are oriented to capture eastern outlooks towards the Sydney CBD and surrounding greenery.

[smartcode_project:default project_id=149594 project_image_fid=362633]

The location places future residents within 800 metres of Chatswood Interchange, providing access to metro and rail services, and within walking distance of Westfield, Chatswood Chase and the Chatswood Concourse. Parks including Chatswood Park and Beauchamp Park are nearby, along with a cluster of schools and private hospitals.

Celine continues Hyecorp’s focus on the Lower North Shore. The Australian, family-owned developer has been operating locally for more than 30 years, with recent projects including Audrey in St Leonards, now nearing completion, and Juliet in Roseville. With registrations expected to open soon, Celine represents the group’s latest addition to the Chatswood apartment market.

[smartcode_project_cta:default project_id=149594]

Hyecorp unveils Celine, a striking new apartment tower in the heart of Chatswood

International development company <a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> has kicked off construction of the $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a>, one of the highest value developments to get underway on the Gold Coast in more than a decade.

Located on a 1.15ha site stretching from Surfers Paradise Boulevard to Ferny Avenue, Paradiso Place, when completed, will deliver 845 residences across three residential towers. &nbsp;

Paradiso Place has been several years in planning by SPG, which has now pushed the green light on construction to meet pent-up demand from investors and owner occupiers.

&nbsp;

[smartcode_project:default project_id=106566 project_image_fid=185858]

The move follows minor amendments to the original design to cater to buyer demand, including the provision of more premium residential amenity, including private dining, lounge and events spaces for residents to entertain guests.

The three towers, comprising 41, 40 and 44 levels, will bring to the market 845 apartments with each tower boasting its own podium level interconnected skybridge to create a unique elevated ‘beachside village’ for residents.

[smartcode_project:default project_id=106566 project_image_fid=362500]

The <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed development will bring a broad range of residences to the market, most offering ocean views and all enjoying five-star hotel amenities with world-class facilities and the convenience ground level retail precinct.

&nbsp;

Construction of Paradiso Place has been made possible by SPG’s newly established SPG Built division partnered with experienced project management group Eastview Australia, a company that has supported the development of a raft of major projects on the Gold Coast over the past two decades.

[smartcode_project:default project_id=106566 project_image_fid=362499]

“It’s a very exciting time for Paradiso Place as we start construction,” said SPG Land Chairman David Wang.

“We have spent our energy refreshing design and assembling the best team and waiting for what we believe is the right time to start construction on one of the most exciting mixed-use developments to proceed on the Gold Coast since Oracle in Broadbeach and Circle on Cavill in Surfers Paradise. &nbsp;

“The local and interstate downsizer market is getting stronger, and we see Paradiso Place as the right project for our times right now. Our company has the capacity to deliver large-scale projects, and we are thrilled to be bringing this vision to reality.”

&nbsp;

[smartcode_project:default project_id=106566 project_image_fid=185861]

SPG Invest, a company founded in Australia in 1998 with a focus on high-end real estate and premium hospitality assets, has delivered 56 projects in the Asia-Pacific region over the past twenty-five years, including The Peninsula Hotel Shanghai and the Global 188 twin-tower project in Suzhou and Cambridge Residences at Robina.

Paradiso Place will deliver a range of new apartments with two-, three- and four-bedroom layouts, as well as a collection of sub-penthouse and penthouse apartments across three levels. Prices start from $950,000.

[smartcode_project:default project_id=106566 project_image_fid=185852]

“We have a very strong vision for Paradiso Place – we are creating a unique beachside residential community where contemporary design &amp; architecture and luxury materials combine with five star residents’ amenities and the convenience of a premium retail precinct on the ground floor”, said SPG Land CEO Dr Ying Rao&nbsp;

“We are confident that the community will recognise that this is more than just another development. Paradiso Place will bring a much-needed retail precinct and lifestyle hub to northern Surfers Paradise with premium retail, lifestyle and food and beverage options,” Said Dr Rao&nbsp;

“The retail precinct is critical to enhancing the lifestyle amenity for residents and guests, so SPG will retain control of this precinct to curate a premium retail offering that will support this thriving new community.

“SPG will also retain short-term holiday letting to control premium and luxury outcomes in line with our vision.”

Construction of Stage 1 Paradiso Place is expected to be completed by end of 2029.

[smartcode_project_cta:default project_id=106566]

Construction commences on $1.5 billion Paradiso Place development in Surfers Paradise

Nicolette Van Wijngaarden

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Nicolette van Wijngaarden, 45, the founder of the boutique estate agency Unique Estates, has been sentenced to more than three years in jail for trust fund account fraud.
<div>
Van Wijngaarden was charged after she went to NSW Fair Trading who then calculated she misused $3.69 million between 2016 and early 2018.
Van Wijngaarden was sentenced to three years and six months jail by Judge John Pickering on Thursday, with a non-parole period of one year and nine months.
Van Wijngaarden – whose main offices where in Byron Bay, Sydney and Melbourne – told the court she made “the very stupid mistake” when taking money from the trust account out of desperation not to let anyone down.
Judge Pickering noted he wanted the real estate industry to know that those committing trust account offences would not escape jail time. 
Her amount was the biggest real estate fraud in New South Wales real estate history.
"There has to be conformity before the law and there has to be general deterrence," Judge Pickering said.
Her clients included Chris Hemsworth and Collette Dinnigan, who was among the victims.
Unique Estates was started in 2009.
Van Wijngaarden will be eligible for parole on August 20, 2021.
“I stupidly thought I could pay it back,” she told the court in September.
She faced up to 10 years in jail.
Thinking the cash flow issues were short-term and seasonal, she claimed any lavish expenses, including the cars, flowers and travel were tied to the business.
“I’m completely devastated that I’m sitting here today, horrified that people have been let down,” she said.
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j.ballantyne1990-6AQqhLzZaK

Nicolette van Wijngaarden jailed for trust fund account fraud

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<div class="storysegment2 segmentContentFull">
Estate agent Nicolette van Wijngaarden told her pre-sentence hearing last Friday that an unnamed Byron Bay billionaire had pulled out of his proposed bailout of her boutique agency just days before its February 2018 collapse.
Van Wijngaarden has pleaded guilty to trust account fraud, with the Crown saying she misused $3.69 million of client funds from May 2016 to February 2018.
“I stupidly thought I could pay it back,” she told the court. She will be sentenced in Sydney’s Downing Centre District Court in late November, when she faces up to 10 years in jail.
Thinking the cash flow issues were short-term and seasonal, she claimed any lavish expenses, including the cars, flowers and travel were tied to the business.
“I’m completely devastated that I’m sitting here today, horrified that people have been let down,” she said.
Fashion designer Collette Dinnigan was one of van Wijngaarden’s clients who was caught up in the agency’s collapse, with the deposit on the sale of her South Coast property not in the trust fund when the NSW Fair Trading Department stepped in.
Van Wijngaarden told the court she only paid herself $12,000 in commissions in the nine years after founded Unique Estates in 2009.
She was entitled to commission from 94 of the company’s 115 sales over the following years, she told her barrister Frank Coyne.
He said van Wijngaarden had made every effort to address the shortfalls; forgoing commission – she estimates she kept only $12,000 commission over almost nine years – seeking bank loans and equity from investors.
When she could not fix the problem she reported herself to NSW Fair Trading and assisted the authorities. The court also heard the ordeal had ruined her marriage and any lavish expenses were tied to the business.
She told the court the billionaire had backed out of the $4 million bailout after speaking to his solicitor.
The global businessman, who had been a client of the estate agent and then a friend, had also been hesitant as he had been subject to his own issues with the ATO.
The estate agency had a $5 million turnover in its final year, the court was told.
Van Wijngaarden’s is the largest case of real estate trust fraud in NSW history, with victims including property sellers and rental property landlords — who have since received their entitlements from the NSW taxpayer-funded compensation fund.
Her trust account fraud - being an real estate agent - was not as serious breach of trust as that committed by lawyers and accountants, the court heard from her barrister.
</div>
Her barrister made a submission to his honour that it was not as "clear cut" as other frauds.
Coyle argued the case “was one of those rare occasions where greed was never the motivation.”
“Greed takes all forms,” Judge John Pickering responded quickly.
"A motivating factor was a continuation of her business … it wasn’t as if there was no benefit to her,” his honour said.
“It’s not the worst form of greed you see in some of these fraud matter but there is still an aspect of self-gratification to it all,” he said, noting there was a certain level of "ego" being the head of a boutique high-end real estate agency.
"It's a complex matter and I do agree it has some unusual features to it as she [Ms van Wijngaarden] isn't the classic single-minded fraudster," said Judge John Pickering in the Sydney district court.
"But when you sell or buy Sydney homes, an extraordinary amount of money is put in the trust of real estate agents and for most people never in their lives would they trust that much money to anyone ... so I wonder why a breach of trust by a solicitor is more serious than a breach of trust by a real estate agent?"
Judge Pickering noted the NSW taxpayers had to pay for the lost funds.
The prosecution noted that every dollar van Wijngaarden took from the trust funds was “a dollar she needn’t have considered spending from her own pocket”.
Ms van Wijngaarden's lawyer said she used trust deposits between 2016 and 2018 to "save" her cash-strapped business and had every intention of repaying the money by raising funds through investors.
Ms van Wijngaarden said she turned herself in, then assisted with investigations and tried to sell the business' assets, including a $1.2 million luxury holiday home rent roll, an act that should reduce her sentence, her lawyer said.
She alleged the administrators scuppered attempt to sell the rent roll, and the sales business, which she through had a $2 million value.
The Crown solicitor said Ms van Wijngaarden had turned herself in only to save herself from being sued by angry buyers whose deposits had disappeared.
She gave evidence that her actions were a desperate attempt not to let staff and clients down.
“I made the very stupid mistake of taking money from the trust but I genuinely felt I was going to be able to put that back,” she told the court. “It was out of pure desperation to not let anyone down,” she later said.
“Everything I’ve ever done I’ve done for other people,” she said.
After she turned to the trust fund in May 2016, she avoided having the business audited.
“When I first did it I knew it wasn’t the right thing to do, but I thought I’d be able to put it back,” she said.
But “it snowballed”.
The prosecution emphasised that the agent knew what was the right thing to do having seen her first business endeavour, a marketing company collapse after her main client failed to pay its account.
 
 
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jchancellor-FAypfDUnLy

Estate agent Nicolette van Wijngaarden explains her trust fund fraud

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The luxury real estate agent Nicolette van Wijngaarden has pleaded guilty to real estate trust fund fraud.
She will be sentenced next month at the Sydney Downing Centre.
Van Wijngaarden founded Unique Estates in 2009 which specialized in luxury property, particularly around Byron Bay, before the boutique agency expanded across the country.
Fashion designer Collette Dinnigan was caught up in the messy February 2018 collapse of the Unique Estates Australia agency following the sale of her NSW South Coast property.
The 5 percent deposit for Dinnigan's Milton $2.1 million was unaccounted for, with the NSW Fair Trading Department stepped in cover the $105,000 deposit that Vaucluse buyers had paid into the trust fund.
All NSW vendors are covered by the Property Services Compensation Fund.
After the company collapsed in February 2018, van Wijngaarden faced charges following an investigation by forensic accountants.
She faces up to 10 years in prison having allegedly misused $3.69 million.
Her bail included her surrendering her two passports under strict bail conditions.
The agency published the magazine Unique Luxury, which was distributed in Qantas lounges across the country.  
<div>
The agency collapsed with restructuring specialists McGrathNicol app­ointed as joint managers by the NSW Department of Fair Trading.
NSW Fair Trading and McGrathNicol reported to creditors that there were "insufficient funds to pay amounts outstanding and in these circumstances there is a statutory compensation fund that may cover your outstanding claims.”
This article was first published in the Daily Telegraph.
 
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Estate agent Nicolette van Wijngaarden pleads guilty to trust fund fraud

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The founder of Unique Estates, Nicolette van Wijngaarden, faces up to 10 years jail if found guilty of the fraud charges following the collapse of her national estate agency.
The 15 charges were laid after an investigation by forensic accountants.
The NSW Department of Finance told The Echo, her local Byron Bay newspaper, that Ms van Wijngaarden, 44, was currently on bail, due to appear for mention in Sydney’s Downing Centre local court on November 8.
It was front page news today in the town newspaper.
<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/2018/10/25/echo.jpg" alt="">
The 44-year-old faces five counts under section 211(2) of the Property, Stock and Business Agents Act 2002, allegations that relate to fraudulently converting money from a business for a person’s own individual use.
Ms Winjgaarden is also facing 10 charges of fraud under the NSW Crimes Act 1900.
The Department of Finance said the total quantum of money involved in all charges alleged is in excess of $3.5 million.
Unique Estates was founded by Ms van Wijngaarden in Byron Bay in 2009 as a boutique agency dealing with luxury properties.
It expanded significantly in the ensuing years to include offices in Albert Park, Double Bay, the Gold Coast, Melbourne, and Hong Kong.
The agency published the magazine Unique Luxury, which was distributed in Qantas lounges across the country.
The agency collapsed in February.
The ATO emerged among the biggest creditors.
"Bank accounts are frozen and there are no funds," was the blunt message to staff as McGrath Nicol was appointed joint managers by the NSW Department of Fair Trading
The agency had won a string of awards over the years including the Best Real Estate Agency Website for Asia Pacific 2017-2018 at the International Property Awards Grand Final Ceremony held in London.
It is not the first time a high-flying Byron agent has been caught up in trust account issues.
The now defunct Byron Bay real estate agency Belle Property was the subject of an earlier investigation by the Department of Fair Trading.
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Nicolette Van Wijngaarden

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Developments

New apartments

New townhouses

News