Brisbane-based <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co Developments</a> has officially launched its $250million COMO apartment development in Varsity Lakes, while simultaneously commencing construction.&nbsp;

Building work is now underway at COMO following the appointment of <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a> as contractor to deliver the boutique development which will rise on a 2857 sqm site overlooking Lake Orr at 22 Lake Street.

When completed, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels located in the heart of Varsity Lakes.

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The project, which will sit alongside Bond University, will deliver a diverse array of apartment designs comprising one-, two- and three-bedroom residences that have already attracted interest from local and interstate investors as well as an array of owner occupiers looking to gain a foothold in the precinct.

Red &amp; Co, which has largely focused on the Brisbane market in recent years where it has delivered more than 500 apartments and townhouses across 26 projects, has designed COMO to combine tranquil, lakeside living with the vibrant urban convenience of the vibrant Varsity Lakes village.

“We’re thrilled to announce a start to construction of COMO in conjunction with the official launch of the project, our first for the Gold Coast,” said Red &amp; Co Director and Co-Founder David Laverty.

[smartcode_project:default project_id=135546 project_image_fid=363509]

“COMO is superbly positioned to capture the essence of the Varsity Lakes village lifestyle and its thriving café and dining precinct, while delivering a much-needed diverse supply of premium residences for the local market.

“Pre-launch inquiries have been strong among both local and interstate investors and owner-occupiers, including downsizers and upgraders who appreciate the value proposition that COMO represents.”

Prices at COMO start from $1,000,050.

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Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the COMO development incorporates an extensive range of amenities for residents including a 25-metre rooftop lap pool, sundeck, barbecue and dining areas, as well as multiple rooftop pickleball and paddleball courts, a wellness and activity centre, gym, sauna, plunge baths and landscaped gardens.

“COMO presents a rare opportunity to secure a stylish, lifestyle-focused home in one of the Gold Coast’s most sought-after neighbourhoods,” added Laverty.

“The rooftop will be the epicentre of fun for residents with an array of amenities for residents that are quite unique for a boutique project such as this, all while offering spectacular vistas across the Gold Coast as far north as Southport and south to Burleigh.”

[smartcode_project:default project_id=135546 project_image_fid=363514]

&nbsp;

Red &amp; Co has chosen the Varsity Lakes site for its proximity to top-tier schools, major shopping hubs, such as Robina Town Centre and its CBD offering, as well as key Gold Coast transport links, including Varsity Lakes Train Station.

COMO will be located just a short walk to shops, cafes and restaurants in Varsity Lakes and just a 10-minute drive to the Burleigh Heads beachfront.

With construction currently underway, Red &amp; Co anticipates COMO will be completed in 2028.

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Joel Robinson

Red & Co to launch debut Gold Coast development Como Varsity Lakes as construction commences

Longstanding Gold Coast developer Raptis has acquired a prime development site on Surf Parade for its next Broadbeach apartment project.

Progressing towards completion of <a href="https://www.apartments.com.au/new-apartments/the-sterling-broadbeach-6-8-george-avenue-broadbeach-qld-4218">The Sterling Broadbeach</a>, 90 apartments on nearby George Avenue, <a href="https://www.apartments.com.au/developers/raptis">Raptis</a>, led by second-generation family man Evan Raptis, has picked up a block on the corner of Surf Parade and First Avenue.

The site had been earmarked for a luxury apartment project with 33 full-floor apartments across a 37-storey tower. Raptis will go back to the drawing board and create a building more appropriate for the site. The development application will be lodged later this month.

Evan Raptis told Apartments.com.au the site ticks all the boxes.

"Broadbeach is a suburb we've developed several buildings over the years. Surf Parade ticks all the boxes for the type of apartment development we want to deliver."

Raptis had several pre-lodgement meetings with council to ensure they are aligned in the development.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="f0d58573-07a4-47a8-9f5e-fbf35fb03dc3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-05%20at%204.58.23%E2%80%AFPM.png?VersionId=iczZEd_4_o4UL0PHMPJGfy_q3tv96J5i" />

Surf Parade has emerged in recent years as one of the most popular streets in Broadbeach for development.

South East Queensland developer Mosaic Property Group kicked it off with Marella by Mosaic. Bassar Group sold out Infinity on the street, while for its&nbsp;first Gold Coast development, Polycell grabbed a Surf Parade site for <a href="https://www.apartments.com.au/new-apartments/the-rochester-broadbeach-143-surf-parade-broadbeach-qld-4218">The Rochester</a>, which is nearly sold out.

Melbourne-based developer Hirsch &amp; Faigen recently launched its fourth Gold Coast project on the exclusive strip. The Eveleigh Broadbeach will have 100 apartments across a 31-storey building designed by Rothelowman.

GV Property Group site development specialists Antonio Mercuri and Luke Reaby, who both amalgamate sites and sell shovel-ready sites to developers up and down the Gold Coast, sold Surf Parade to Raptis.

Raptis secures prime Surf Parade site for next Broadbeach apartment development

Less than two years after breaking ground, Gardner Vaughan Group is celebrating the topping out of Bask, its second development in the exclusive coastal enclave of Bokarina on Queensland’s Sunshine Coast.&nbsp;

Located only minutes from the beachfront, the two seven-storey luxury apartment towers, known individually as Mydas and Caretta, offer a selection of one-to-four-bedroom residences with views of Lake Kawana, the Glasshouse Mountains, and Bokarina Beach.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333359]

Gardner Vaughan Group Commercial Director Sam Gardner said the milestone marks the home stretch for construction, with first residents expected to be able to move in from Spring 2026.&nbsp;

“This is a significant milestone in bringing this development to life and represents our confidence in this region’s long-term growth and appeal,” Gardner said.&nbsp;

“With 85 per cent of apartments already sold, buyers are joining an established, coastal village that offers the very best of the Sunshine Coast – seasonally patrolled surf beaches, renowned restaurants, and links to established health and retail.&nbsp;

“The final collection of three- and four- bedroom apartments range in size from 127sqm to 300sqm, each with two or three secure car parks and storage, and with construction fast approaching completion we don’t expect the last few apartments to remain on the market for long.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333362]

Local restaurateur Luke Stringer, who co-owns and manages the award-winning Bocca Italian and Playa Mexican restaurants in Bokarina, has lived in the beachside suburb for 18 months and worked there for more than three years, and said the beachside suburb was thriving.&nbsp;

“It’s fair to say Bokarina is finally stepping into the sun and there’s a lot to love about the place,"&nbsp;Stringer said.

"It’s such a great community, where you see the same smiling faces every morning and everything’s within easy reach – it’s the perfect hub in the middle of the Sunshine Coast.

“When we first opened Bocca Italian, we were the lone restaurant, but it’s been amazing to see how the area has grown. The more venues that open, the busier it gets for everyone. When Playa Mexican opened its first Saturday night, Bocca had a record night and Playa was packed too, which blew us away how everyone is thriving.&nbsp;

“There’s a great energy around the place now, and people are really embracing Bokarina as a food and lifestyle destination.”&nbsp;

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Stringer joined other buyers at Bask Bokarina and the Gardner Vaughan Group team to celebrate the topping out at a special event in February.&nbsp;

Located in Kawana Waters, midway between Caloundra and Maroochydore, Bokarina locals enjoy scenic walking paths around Lake Kawana, playgrounds, beachfront boardwalk and parklands, alongside all the convenience of a masterplanned beachside community.&nbsp;

“You see people jogging or swimming in the morning, then grabbing coffee at the cafes, people are really embracing the area and all this growth is bringing more people to Bokarina,” Stringer added.&nbsp;

To take advantage of the vistas, each of the 135 apartments at Bask is designed with full size windows and high ceilings that provide an abundance of natural light.&nbsp;

Prices for the remaining three-bedroom apartments start at $1,599,000 and four-bedroom apartments start at $3,149,000.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363369]

The mixed-use development also features ground-level retail space for cafés, dining options and boutiques, including the soon-to-be-opened ‘Corner Shop’, by the team behind Noosa’s well known ‘Organika’.

Sam Gardner said Gardner Vaughan Group’s 37-year history building and developing across South East Queensland has contributed to the success of its second development in Bokarina, which follows the recently completed Zinc Apartments.&nbsp;

“We care how people live and this is reflected in the way we approach the design and delivery of every development,” he said. “Furthermore, as a builder-developer we have full control over the construction program and our 100 per cent completion rate is something people can draw confidence from.”&nbsp;

Founded by civil engineers Guy Gardner and Darryl Vaughan in 1989, the family-owned business has evolved from a consultancy firm to an award-winning builder-developer, with projects across the Sunshine Coast, Moreton Bay, Brisbane and the Gold Coast.

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Gardner Vaughan Group tops out Bask Bokarina apartments

Prolific Melbourne developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has launched its fourth new Gold Coast development in as many years.

<a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>, led by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum, has unveiled The Eveleigh, on a prime 1,100 sqm site at 7-9 Surf Parade in the heart of Broadbeach.

<a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a> will deliver 100 apartments across 31 levels, making it the company’s largest Gold Coast project to date. It builds on the success of its three earlier developments, <a href="https://www.apartments.com.au/buildings/hemingway-1267-1273-gold-coast-highway-palm-beach">The Hemingway in Palm Beach</a> and <a href="https://www.apartments.com.au/buildings/emerson-kirra-100-musgrave-street-coolangatta">The Emerson at Kirra</a>, both completed, and <a href="https://www.apartments.com.au/new-apartments/yves-mermaid-beach-7-9-mermaid-avenue-mermaid-beach">Yves Mermaid Beach</a>, which is nearing completion.

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The announcement of The Eveleigh affirms the company’s sustained confidence in the Gold Coast market which continues to remain undersupplied. It also increases the value of Hirsch &amp; Fa​igen’s Gold Coast development portfolio to more than $700 million since the company first entered the market in 2021 with Hemingway.

The company has enlisted its preferred architecture firm Rothelowman to design The Eveleigh, which will offer a thoughtfully curated lifestyle, including a substantial wellness precinct, communal recreation areas, children’s play spaces, work-from-home facilities, and shared lounge and dining areas.

[smartcode_project:default project_id=149670 project_image_fid=360965]

Designed for the prime market demographic of downsizers and interstate lifestyle investors in mind, The Eveleigh has been crafted to offer an increasingly rare blend of affordable luxury in a tightly held market. Uniquely positioned in the heart of the Gold Coast’s most sought-after lifestyle suburb of Broadbeach, the project will also boast uninterrupted beach and hinterland views.

The Surf Parade site is just a short walk to the bustling Broadbeach dining and retail precinct, Pacific Fair, The Star Gold Coast and convention centre, and an easy stroll to Kurrawa Beach and the recreational amenity of Pratten Park on the Broadbeach foreshore.

[smartcode_project:default project_id=149670 project_image_fid=360975]

“We’re excited to be proceeding with our fourth project on the Gold Coast in what is certain to become the new luxury precinct in Broadbeach,” says Anthony Bueti, the CFO of Hirsch &amp;a​mp; Faigen and a shareholder of the group.

“With the likes of Mosa​ic and Abedian &amp;a​mp; Co also launching quality projects in the area, the transformation will cement Broadbeach as the premier lifestyle and amenity suburb on the Gold Coast.

"After four years in the Gold Coast market, and with three successful projects completed, The Eveleigh is the product of everything we have learned to love about the Gold Coast and it will be an incredible addition to our growing portfolio in one of the most vibrant property markets in the country. We continue to remain very confident in the high-end Gold Coast property market.”

Urban Activation Director Matt George is handling sales for The Eveleigh, having sold out The Emerson, The Hemingway, and Yves, all before construction was completed.

Melbourne builder MAXCON has already commenced construction on The Eveleigh. They are forecasting a mid-2028 completion.

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Hirsch & Faigen unveils The Eveleigh in Broadbeach

Two years after securing development approval for the final stage of its award-winning Thornton Precinct on the doorstep of Penrith Station, Urban Property Group is set to launch <a href="https://www.apartments.com.au/new-apartments/mayfair-on-penrith-172-lord-sheffield-circuit-penrith-nsw-2750">Mayfair on Penrith</a>, around 400 apartments designed to reflect two of Sydney’s most iconic structures.

The builder-developer has continued refining the design plans for the two-building development on a significant 8,280 sqm site on Sheffield Circuit, recognising the importance of the prime parcel as one of the closest developable sites to the station.

UPG enlisted architecture firm SJB to design the project. The team said they drew inspiration from both the General Post Office in Martin Place and East Circular Quay to help shape the design. The two-level colonnade, in particular, reflects the famous GPO building, which dates back to the 1860s.

[smartcode_project:default project_id=136726 project_image_fid=362014]

There will be one-, two-, and three-bedroom apartments on offer, with interiors by Cox Architecture. Residences will sit above a retail podium featuring hospitality and lifestyle operators such as One Playground and Volcano’s Steakhouse, contributing to an activated ground plane within the broader Thornton precinct.

A communal rooftop with a pool and views towards the Blue Mountains will provide shared open space for residents. The development is positioned between Ron Mulock Oval and Westfield Penrith, with the Nepean River and Great River Walk also nearby, placing daily amenity and green space within walking distance.

&nbsp;

[smartcode_project:default project_id=136726 project_image_fid=362015]

Mayfair is being delivered by Urban Property Group, a family-owned developer and builder with nearly 40 years’ experience across Sydney. The project will be the first in Penrith to be offered with Resilience Insurance’s 10-year Latent Defects Insurance (LDI) policy, which Urban Property Group has adopted across a number of its recent developments. The developer also has a 4.5-star iCIRT rating, one of the best ratings in market providing further confidence to buyers.

Urban Property Group CEO Patrick Elias said providing additional assurance to off-the-plan buyers has become increasingly important.

“Anything we can do to give confidence in our product is a plus,” Elias told Apartments.com.au.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. They’re making their single large investment, which is their home, and providing confidence is something that we feel is paramount.”

[smartcode_project:default project_id=136726 project_image_fid=362020]

The LDI policy provides a 10-year warranty covering structural defects, with independent inspections carried out during construction and protection for owners if defects arise post-completion.

Mayfair represents Urban Property Group’s sixth and final development within Thornton, consolidating the masterplanned precinct immediately east of the station.

The developer, which builds its own projects, has already commenced construction. SRM Residential is handling the sales campaign.

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Urban Property Group to close the curtain on award-winning Thornton precinct with Mayfair on Penrith release

Prime Minister

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The five-storey longtime Northbridge home of the late former prime minister Bob Hawke and his wife Blanche d’Alpuget was touted as having been sold for about $15 million.
But the price on settlement emerged as $9.2 million.
Hawke and his then-wife Hazel paid $1.23 million for the three-bedroom knockdown overlooking Sugarloaf Bay in 1991, just seven months before he lost the top job to Paul Keating.
After their marriage ended, the property was kept by Bob and transferred to Blanche’s name in 1999.
Blanche has bought in One30 Hyde Park development for $3.6 million.
This article first appeared in The Daily Telegraph. 
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Bob Hawke's Northbridge home sells at $9.2 million, not $15 million

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The five storey longtime Northbridge home of the former Australian prime minister Bob Hawke and his wife Blanche d’Alpuget has been sold reportedly for around $15 million.
Hawke and his then wife Hazel paid $1.23 million for the three bedroom knockdown house overlooking Sugarloaf Bay in 1991, just seven months before he lost the prime ministership to Paul Keating who suggested at the time it signalled Hawke was preparing to move on from the top job.
During construction on the 960 sqm block, the Hawkes stayed at Birchgrove in the townhouse of adman John Singleton and then lived at the then Ritz Carlton Hotel in Double Bay. It was completed in late 1993.
In 2013 Australia’s longest-serving Labor Prime Minister secured Willoughby Council approval for his plans for a rooftop pergola, decking and synthetic turf entertaining area able to be used as a putting green.
After their marriage ended the property was kept by Bob Hawke and transferred in Blanche’s name in 1999.
No estate agent has yet taken credit for the sale - or its reported price by Domain - which ranks as the third highest in Northbridge, behind a $21 million top sale from 2017.
Selling agent Chris Downie of Richardson &amp; Wrench Northbridge declined to comment on the sale.
The house set on the north shore’s Middle Harbour was constructed on a bushy block with views from one of the suburb’s best streets.
The original modest three-bedroom brick house came with jetty, sandy beach and harbour pool.
Hawke and his then wife, Hazel had sold their 1940s Melbourne home in Sandringham in 1986 for $430,000, three years after the family moved to The Lodge in 1983.
Hawke, Australia’s 24th Prime Minister, was born in South Australia’s Bordertown in 1929 and lived there until 1935.
The downsizing couple secured their whisper quiet off market sale with plans to soon relocate to an apartment overlooking Hyde Park in the Sydney CBD. Hawke, who turned 89 last December, has said his health has been “terrible.”
They are believed to have bought in the One30 Hyde Park development where off the plan settlements are due in coming weeks.
The couple borrowed $4.25 million using the Minibah Road Northbridge home as collateral for the financing of the switch.
The 38-storey tower has been developed by Hong Kong-listed developer Aoyuan Property Group in a joint venture with Ecove, the developer behind the controversial Opal Tower building at Olympic Park.
Developer Aoyuan International subsequently sought assurances of quality of the build at One30 Hyde Park at 130 Elizabeth Street. 
Prices in the luxury development started for two-bedroom apartments from $2.1 million and three-bedrooms starting at $3.1 million.
News of the move comes shortly before d’Alpuget’s next book, The Lions’ Torment is published, which her agent described as “Game of Thrones meets Hilary Mantel”.
This article was first published in the Daily Telegraph.
 
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Bob Hawke sells Northbridge home

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EXPERT OBSERVER
Yet another new Prime Minister in Canberra. Does this mean it’s time to check our smoke alarms? It’d be comical if it wasn’t so concerning.
The frequent changes in leadership and constant mud-slinging through the media, many people tune out of daily political news.
As prices fall in markets across the country, tuning out of politics is simply not an option for the astute property owner with much at stake in the coming election.
Ignoring Canberra and its politics can be a costly mistake as the various proposed policy changes from both the Australian Labor Party (ALP) and The Liberal Party of Australia (Liberal) camps will make a huge impact on our property landscape – affecting home-owners and investors.
The ALP unleashed a media storm when it burst out of the policy box and promised to abolish negative gearing for all properties except new housing – with a tidal wave of opposition among the investment community.
Any property owner should be very concerned about this proposal and its impact on prices.
There has been considerably less attention to other significant property-related policies that ALP has tabled such as increasing capital gains tax – which could have a monumental impact on all property sales.
Liberal’s policies have been deemed more investor-friendly – particularly keeping negative gearing in its current form and just removing travel expenses as a deduction.
A policy already implemented. So what is best for property investors – ALP or Liberal policy? There is no blanket solution and what is best will vary depending on each individual investor’s age, retirement plans and financial position.
One thing is clear – if Labor implements its new negative gearing regime – the winner will be the new housing market as any investor wanting to minimise their tax burden will snap up to new developments - new houses and new apartments.
Conversely investment in existing properties will take a nosedive as it will be far less appealing with no negative gearing benefits.
Prime Minister Scott Morrison has this week foreshadowed a “housing market crash” as a likely result of Labor’s property policies including abolishing negative gearing and halving the 50 per cent capital gains tax discount.
With an election due by the end of May next year property investors will have greater certainty about any changes to the market.
In the meantime it’s important to continue to monitor what is coming out Canberra to ensure investors are best placed to protect and grow their portfolio.
Keeping up-to-date with the proposed changes is a minefield but is best summarised in this table.
<img src="https://www.urban.com.au/images/2018/9/20/Nihilism%20table.JPG" alt="">
James Nihill (pictured above) is the Managing Director at the real estate agency Patrick Leo
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Politics of property, What does it mean for property owners: James Nihill

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The former prime minister Julia Gillard has joined the board of Liberman family-backed CVS Lane.
It is a Melbourne-based property finance and investment company established in 2011.
Since inception it has raised over $600 million across 75 transactions with an end value of over $4 billion.
Earlier this year former Prime Minister Paul Keating took a similar board role with MaxCap, a rival property finance house, also based in Melbourne.
<div>
Both finance companies are looking for growth beyond being backed by a local wealthy investors in the expanding opportunity of residential development debt which has emerged as the banks curb their exposure under pressure from the regulators.
"I'm intrigued by the work that it does, property financing," the Adelaide-based Ms Gillard told the AFR.
"That is a microcosm of understanding what's happening with the Australian economy and what's happening with global trends.
"I thought I could value-add, not by being a property finance expert – I'm never going to match it with these guys on that depth of knowledge – but by bringing to the table that broader perspective and broader expertise."
Gillard has been on the board for five months having already completed an Asia roadshow.
The former prime minister is the first independent director on the board alongside its founders including Joshua Liberman.
Gillard is also on the board of a New York based educational software group and an adviser to a US venture capital outfit, alongside her philanthropic activity including chair of mental health charity beyondblue. "I'm leading this portfolio life now, which is quite different to my old life of the one big job," she said.
The Collins Street, Melbourne-based investment house manages a range of investments, including a property partnership with Don O'Rorke's Consolidated Properties Group.
Last week CVS Lane Capital Partners and Consolidated Properties Group confirmed settlement of the sale of Casuarina Village Shopping Centre to the Sydney based investor, Whistle Funds Management for $27.4 million which represented a yield of 5.90%.
CVS has provided a first mortgage facility to assist in the acquisition of the Coburg Quarter property.
It also provided a first mortgage facility for <a href="http://www.pamada.com/oslo" target="_blank">Pamada</a> on the Oslo Apartments site, located 5km northeast of the Brisbane CBD, which will comprise 160 apartments and a retail premises upon completion.
Lee Centra is its managing director with Jason Henry, the chief financial officer. Andrew Vasarelli is the head of credit and asset management.
Its directors include Michael Goldman, Nick Pettigrew and Ari Bergman.
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jchancellor-FAypfDUnLy

Julia Gillard joins CVS Lane property financing board

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Former prime minister Paul Keating has joined leading commercial financier MaxCap as a stakeholder and board member, as it looks to fill the gap in commercial lending left by banks' tightening criteria. 
MaxCap, which manages more than $3 billion of commercial real estate mortgages, claims to be leading the charge on super funds investing in lucrative commercial real estate lending.
MaxCap managing director and founding partner Wayne Lasky was cited by Fairfax Media as saying that Keating was providing strategic advice and had invested in the business.
Keating, who was PM from 1991 to 1996, recently said if a decision was taken to allow young Australians to access their superannuation to buy a house, it would “rob them” of savings later in life and called it an “irresponsible idea” in an opinion piece on Fairfax Media.
MaxCap group recently teamed up with Australia’s biggest industry super fund, Australian Super, to offer large $100 million-plus loans direct to developers.
Keating joined MaxCap late last year as a director.
The former PM's government was behind the 1992 creation of Australia's compulsory employer contribution scheme that now looks after $2 trillion in superannuation retirement savings.
"If a former head of state seeks to take an investment in a business, they do even more due diligence than institutional investors. Paul carefully guards his legacy, and rightfully so. Having done that work with us, he wanted to get a stake. We're happy to accommodate it," Lasky said.
"It's a big shot in the arm to the sector. When you've got the big instos [institutional investors] participating and you've got the former prime minister participating, you can see where it's moving to in the future."
MaxCap focuses on filling the gap in commercial lending left by the banks after the Australian Prudential Regulatory Authority tightened rules in the wake of the global financial crisis.
Lasky said Australia's commercial property lending was a $220 billion market, with more than 80 per cent of funding dominated by the big four banks.
APRA's imposition of stricter international Basel banking requirements will shrink the bank's market share and open up a $30 to $40 billion funding gap, he said.
"There's a structural dislocation which has been taking place since the crisis. If you've got the capital, there's pretty good lending to be done," Lasky said.
MaxCap placed $300 million in private funds through first mortgage lending over six months to December last year.
It also raised and placed $50 million in the first tranche of a $100 million first mortgage fund, with another raising expected in the next two months, he said.
A spokesman for Keating said the former PM believed it was the right time to invest into MaxCap's platform which was well placed to take advantage of the structural opportunity as the banks were obliged to withdraw from commercial funding due to Basel III and IV guidelines.
The MaxCap website is <a href="https://www.maxcapgroup.com.au" target="_blank">available here</a>.
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jonathanchancellor-7SQnKwU6yx

Former PM Paul Keating takes stake, joins board of commercial financier MaxCap

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GUEST OBSERVER
The Prime Minister’s statement yesterday that there will be no changes to capital gains tax (CGT) on housing has the full support of the residential building industry. 
New housing is one of the most highly taxed commodities in the Australian economy.
In the lead up to last year’s election there were a range of proposals from reducing CGT on investment properties to applying the tax on the family home. Yesterday’s categorical statement by the government provides continued certainty to the industry and to investors.
The housing industry has opposed changes to the way capital gains are currently treated on investment properties. It would mean investors pay even more tax.
Right now, around two dollars out of every five that an individual pays for a new home is tax. 
Buyers pay those taxes. And then they pay taxes on the taxes. They pay stamp duty on top of taxes, including the GST. And when they eventually sell the property, if they make any money, they pay tax on that. 
Housing cannot be asked to pay even more taxes. It would simply have the opposite effect. 
When it comes to improving housing affordability, the focus should be on increasing supply year on year. This won’t happen by removing the incentives to build new homes and placing pressure on existing housing prices to meet demand.
Graham Wolfe is deputy managing director, HIA, and can be contacted <a href="https://hia.com.au" target="_blank">here</a>.
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PM’s capital gains tax decision the right one: HIA's Graham Wolfe

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The Edgecliff office block - tenanted in part by Prime Minister Malcolm Turnbull as his electorate office - has been sold.
It fetched $15.67 million having been bought from Telstra for $3.865 million in 2001. 
The 287-289 New South Head Road building was formerly the Edgecliff Post Office, a landmark building at the busy corner.
It was offered by the Scarf family as a rare opportunity to own a freestanding, mixed use property.
It is a freestanding, four storey, mixed use property, offered fully leased with a NLA 1,405 sqm.
Its net income was $955,144.74 pa.
There was secure car parking for 15 cars plus a large outdoor deck area with harbour views.
The initial marketing by Ray White Double Bay suggested there was future potential for residential conversion.
It was bought by the Spyrides family from Vaucluse. 
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Malcolm Turnbull gets new office landlord in Edgecliff

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Prime Minister Malcolm Turnbull and wife Lucy were spotted post-election viewing an apartment in Point Piper, however it was not intended for them.
They were looking for their expat Singapore based son, Alex, a hedge fund manager, his wife, Yvonne Wang and their one year old daughter, Isla.
They dropped by <a href="https://www.belleproperty.com/buying/NSW/Eastern-Suburbs/Point-Piper/Apartment/64P3245-3b-8-st-mervyns-avenue-point-piper-nsw-2027" target="_blank">the unrenovated 1960s apartment</a>, (above) apparently on the spur of the moment, while taking an early afternoon stroll around their blue-ribbon neighbourhood.
They didn't turn up to the auction where 14 parties registered to bid from the 27 potential buyers who took contracts.
Last traded in 1966 at $60,200, it was knocked down to buyers who came from Kangaroo Point.
Lucy later told friends they weren't really in the market for an apartment and certainly not that expensive, as it sold for $4.3 million, some $1.2 million over reserve.
With the highest price in the block previously being $3.8 million next door, Belle Property Double Bay agent Albert Sassoon had marketed it as a 'house-sized apartment'.
It has three bedrooms, two bathrooms and a large balcony with views of the Sydney Harbour.
Alex has recently launched a mobile phone application 'GoCatch' with Seek co-founder Paul Bassat. The taxi booking app has been backed by casino tycoon James Packer.
Alex worked for Goldman Sachs before joining a private equity firm in Singapore.
This article was first published in the Saturday Daily Telegraph.
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Malcolm and Lucy Turnbull walk into pricey Point Piper open for inspection

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The former Kew home of the longest serving prime minister Sir Robert Menzies has been snapped up pre-auction having been listed with $4.5 million hopes. 
<a href="https://www.propertyobserver.com.au/https://www.jelliscraig.com.au/property-details-74-Charles-Street-Kew/376402">Talgai, the 1890s property on leafy Charles Street</a>, played home to the Menzies family in the early 1920's.  
Their time in the five bedroom, three bathroom property was brief however as by 1924 the family had moved into their newly built Grange Road, Culdares, a reference to the eponymous Scottish seat of the Menzies clan.  
Jellis Craig agents Campbell Ward and Richard Winneke secured the sale of Talgai which last sold in 1985 for $322,000 when bought by the Curtin family.  
The property, which was rented from the printer and engraver, Charles Shugg, was where Bob and Pattie's second son, Robert was born. 
Winneke has also sold other Melbourne houses lived in by Menzies – in nearby Howard Street and in Reid Street in Balwyn. 
After his 1966 retirement, Sir Robert and Dame Patti Menzies famously lived at Haverbrack Avenue, Malvern. Witty Menzies dubbed Haverbrack Avenue "have a look avenue" on taking up residence.
This article was first published in the Weekend Australian Mansion Australia property section.
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 Former Kew home of Sir Robert Menzies sold pre-auction

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GUEST OBSERVER
Business confidence slipped in October, offsetting most of the gains made in the previous month in response to the new Prime Minister. Although it is still early days for the new government, this is a disappointing result. On the other hand, current business conditions remained at their high level, reflecting the general improvement in the non-mining economy. 
After business confidence rose sharply in September, we noted the importance for both the government and the broader economy of sustaining this increase. Today’s data suggest that this is not going to be a straightforward task. However, the fall is somewhat surprising given solid increases in consumer confidence and in the government’s poll results over the same period.
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 That said, the fall in the NAB measure of business confidence brings it broadly back into line with the Roy Morgan business confidence series, which had been weaker previously.
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 It appears that Australian businesses are still sensitive to overseas conditions. Australian business confidence has tracked the softening in the global PMI which is a good proxy for global growth (Figure 2).
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 In more positive news, current business conditions remained elevated and are supportive of further solid growth in the non-mining economy in the near term (Figures 3 and 4).
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 The details were also encouraging. While profitability has eased a little, it remains at a high level and bodes well for near-term employment growth (Figure 4). Capacity utilisation continued to slowly improve, but our view is that ample spare capacity remains in the economy, limiting upward pressure on inflation, despite the risk that we see some belated pass-through from the lower AUD to tradables inflation (Figure 7). 
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Daniel Gradwell is economist and Justin Fabo is senior economist <a href="https://www.anz.com/corporate/research/" target="_blank">ANZ Research</a>.
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