Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <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, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Joel Robinson

Red & Co unveils amenity-rich Como development in Varsity Lakes

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.

The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.

The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.

The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" />

BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.

At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.

The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" 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/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" />

The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-36" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-17" dir="auto">
Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.
</section>

[smartcode_project_cta:default project_id=150260]

Big Projects secures approval for Glenelg Residences in Mermaid Beach

Sherpa Group is ramping up its investment in the southern Gold Coast by lodging a development application for <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, a new $350 million project in Coolangatta.

The move comes after the group’s $27 million acquisition of the 2,029 sqm site on the corner of Griffith and Warner Street, last year.

They will develop 194 apartments across a 26-storey tower, which will become Sherpa’s largest project to date.

Viveré will be the next chapter in the Flourish story, following closely behind Amargo, Oasis, and the Avenues in Palm Beach, as well as Symphony in Brisbane, all designed to deliver affordable housing in lifestyle-rich locations, giving locals a real chance to secure a residence close to the beachfront.

The HAL Architect-designed project will offer a diverse range of residences, from one-, two, and three- bedroom apartments to the premium Canopy range to luxury penthouses.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c85f5a7e-a22f-4745-8def-400adb3c0b35" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.43%E2%80%AFAM.png?VersionId=OY.chur3BPExn1exQ2q8clHqWnW_CaBi" />

“The Gold Coast is undergoing a period of immense growth, with more people drawn to the incredible 
lifestyle that’s available, leading to strong growth in property prices,” said Christie Leet, founder of Sherpa 
Group.

“Our goal at Sherpa is to ensure locals are not priced out of the market in prime locations, which is why we 
created the Flourish collection.

“Flourish Vivere will form the next chapter in our portfolio, and we are so excited to be lodging the DA, marking our first project in Coolangatta.”

A signature of the Flourish developments is the communal rooftop. Flourish Vivere will showcase a private resident’s lounge, outdoor dining with barbecues and pizza ovens, heated pool, fully-equipped gym, and a wellness centre with sauna and steam room.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c09372cc-aae6-4458-af2e-f291bd19a5e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.49%E2%80%AFAM.png?VersionId=Sc_RLXl5jiff.tnadogXjQJ_WIpDjf3p" />

The project is strategically located to offer a walkable lifestyle, with the Strand shopping centre, cafes, restaurants, shops and the beach, all just a short stroll away.

“We have meticulously planned Vivere to build on the Flourish legacy, creating a truly special project,”&nbsp;Leet added.

“Wellness, lifestyle and community are at the forefront of every decision we make, and that has not 
changed for Vivere.”

With the DA now lodged with the Gold Coast City Council, Sherpa has moved quickly to secure LPS Group as the builder, offering buyers a level of certainty that is rarely seen in today’s market.

Sherpa has delivered 16 residential projects over the past seven years with a pipeline of $1 billion, with more under construction.

Sherpa takes Flourish brand to Coolangatta, lays plans for Flourish Vivere 

S&amp;S Projects is boosting its investment at Rainbow Bay to more than $1 billion after the prolific Gold Coast developer acquired a new site for $20.25 million and immediately laid plans for a new luxury apartment project in the sought-after precinct.

The site, which is the company’s fifth acquisition at Rainbow Bay in the past four years, will be home to the company’s largest project to date after delivering 3 sold-out projects and construction progresses on Radia worth a combined $215m. 
S&amp;S Projects is currently finalising plans for its latest strategic acquisition, a 1,518 sqm site located 209-213 Boundary Street in Coolangatta, with a development application expected to be lodged within weeks.

The luxury residential development will build on the company’s highly successful projects at Rainbow Bay, comprising Flow, Awaken, Esprit and Radia, with Radia currently under construction by Hutchinson Builders.

“We have been unflinching in our commitment to Rainbow Bay and the transformation we have helped drive in this incredible part of the Gold Coast, which is among the city’s most desirable residential locations,” said S&amp;S Projects founder and director Paul Gedoun.

“Our fifth project will reflect the best of what we have done so far to create a lifestyle precinct that is second to none.”

The latest development, which has yet to be named, is proposed to accommodate 88 luxury apartments in a design that will immerse residents in a unique wellness lifestyle that expands on the legacy of S&amp;S Project’s earlier developments at Rainbow Bay.

The development will feature an expansive rooftop garden and wellness centre with a resort- style pool, among a host of lifestyle amenities planned for residents.

“Rainbow Bay, with its beautiful, protected beach and alongside one of the world’s best surf breaks at Snapper Rocks, is the natural wellness heartland of the Gold Coast,” said Gedoun.

“We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden.”

The latest acquisition comes as S&amp;S Projects is at the completion of Esprit and construction continues on Radia, which are part of their significant portfolio undertaken by the company at Rainbow Bay since 2022.

The $215 million Radia, which comprises 38 apartments, is currently the flagship development by S&amp;S Projects at Rainbow Bay which is expected to be completed in 2027.

Jayde Pezet, of Pezet Matheson, which has managed sales and marketing for S&amp;S Projects across their Gold Coast portfolio, emphasised the developer’s commitment to continuous improvement and excellence.

“S&amp;S Projects continue to elevate the benchmark of luxury with each development," Pezet said.

“We have worked with S&amp;amp;S on their 4 other projects in Rainbow Bay and their approach reflects a team that is constantly learning, refining, and pushing the standard higher.

“Their hyper-local knowledge and deep expertise within the luxury property sector are what truly set them apart, allowing them to deliver projects that feel both globally sophisticated and authentically connected to their coastal environment”

S&amp;S Projects plans to officially launch its latest project at Rainbow Bay in the second half of this year.

“As we embark on our largest project yet, we have pulled out all stops to create another landmark development that truly reflects the relaxed southern Gold Coast lifestyle,” Gedoun added.

S&S buys $20m Rainbow Bay site for fifth beachside apartment project

Japandi, an emerging design trend that combines Scandinavian functionality with Japanese rustic minimalism, remains relatively untested in Australia’s residential development market.

As developers look to differentiate their projects and offer something distinct to buyers, Brisbane-based developer Lantona has embraced the hybrid style for its recently launched Toowong apartment project, <a href="https://www.apartments.com.au/new-apartments/koya-residences-6-josling-street-toowong-qld-4066">Koya Residences</a>, with early response to the design proving positive.

Lantona entrusted Red Door Architecture and interiors practice Luma Design Co with delivering the Japandi brief. The approach blends Japanese minimalism with Scandinavian functionality, emphasising warm, restrained interiors, natural materials and clean lines. Drawing on the Japanese concept of wabi-sabi (beauty in imperfection) and the Scandinavian principle of hygge (comfort and cosiness), it creates serene, uncluttered and sustainable living environments.

These design principles are expressed throughout the Josling Street development, both in its exterior form and across the 40 one-, two- and three-bedroom residences within.

[smartcode_project:default project_id=150787 project_image_fid=366229]

Koya reflects a deliberately scaled approach, with the five-storey form designed to align with the surrounding residential streetscape rather than dominate it.

“Koya is conceived as a building that sits comfortably within its surroundings. Every decision, from material selection to spatial planning, has been guided by long-term liveability and enduring relevance,” the developer said.

[smartcode_project:default project_id=150787 project_image_fid=366243]

Positioned within an established inner-west neighbourhood, the development sits near riverfront parklands and the Bicentennial Bikeway, while remaining within walking distance of Toowong Village and multiple public transport options connecting to the CBD, St Lucia and West End.

Lantona said the location was central to the project’s conception, pointing to Toowong’s balance of green space, transport access and proximity to major education institutions.

“<a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> combines river access, walkability, immediate CBD connection and a strong educational presence. That balance made it the obvious setting for Koya.”

[smartcode_project:default project_id=150787 project_image_fid=366230]

Communal amenity is concentrated on the rooftop, where a shared retreat will include a pool, dining areas and outdoor spaces oriented towards neighbourhood and city views. The design allows for both private use and small gatherings, extending the living environment beyond individual apartments.

Koya enters the market at a time when smaller-scale developments are becoming less common in established suburbs, with many recent projects in the suburb shooting for the sky.

In a nod of confidence,&nbsp;<a href="https://www.apartments.com.au/builders/brisbane-builders">Brisbane Builders</a>&nbsp;has already commenced construction on the building, which is slated for completion in early 2027. Keenan &amp; Byrne is marketing Koya.

[smartcode_project_cta:default project_id=150787]

Japandi-inspired Koya Residences launch in Toowong

Residential Auction

<html><body>
A record $8.4 million has been paid on the Brisbane riverfront at auction last night.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/27/bulimba%202.jpg" alt="">
The riverfront home at Bulimba ranks as the city’s most expensive property ever sold under the hammer.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/27/bulimba%203.jpg" alt="">
The five-bedroom European-style mansion at 95-99 McConnell Street saw two families compete after the initial $5.5 million offer.
The prized north-facing 1473 square metres of land comes with 32 metres of river frontage.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/27/bulimba%204.jpg" alt="">
The 95-99 McConnell Street, Bulimba offering sold through Sarah Hackett of Place Estate Agents Bulimba.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/27/bulimba%205.jpg" alt="">
Brisbane’s most expensive auction sales
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td>
Address
</td>
<td>
Brisbane Suburb
</td>
<td>
Year
</td>
<td>
Auction Price
</td>
</tr>
<tr>
<td>
95-99 McConnell Street
</td>
<td>
Bulimba
</td>
<td>
2019
</td>
<td>
$8.4 million
</td>
</tr>
<tr>
<td>
39 Griffith Street
</td>
<td>
New Farm
</td>
<td>
2019
</td>
<td>
$7.75 million
</td>
</tr>
<tr>
<td>
22 Sandford Street
</td>
<td>
St Lucia
</td>
<td>
2009
</td>
<td>
$7.75 million
</td>
</tr>
<tr>
<td>
29 Laurence Street
</td>
<td>
St Lucia
</td>
<td>
2010
</td>
<td>
$7 million
</td>
</tr>
<tr>
<td>
78 Jilba Street
</td>
<td>
Indooroopilly
</td>
<td>
2007
</td>
<td>
$6.1 million
</td>
</tr>
<tr>
<td>
20 Scott Street
</td>
<td>
Hawthorne
</td>
<td>
2017
</td>
<td>
$5.6 million
</td>
</tr>
<tr>
<td>
22 Langside Road
</td>
<td>
Hamilton
</td>
<td>
2016
</td>
<td>
$5,385,000
</td>
</tr>
<tr>
<td>
34 Quay Street
</td>
<td>
Bulimba
</td>
<td>
2016
</td>
<td>
$5.33 million
</td>
</tr>
<tr>
<td>
14 Otway Street
</td>
<td>
Holland Park
</td>
<td>
2016
</td>
<td>
$5,225,000
</td>
</tr>
<tr>
<td>
9 Griffith Street
</td>
<td>
New Farm
</td>
<td>
2013
</td>
<td>
$5.2 million
</td>
</tr>
</tbody></table>
Source: Domain Group (results based on sales made on the auction day under the hammer only).
The previous record auction was $7.75 million, back in 2009 at Sandford Street, St Lucia, which was then equalled in March this year when 39 Griffith Street, New Farm sold under the hammer.
It was purchased by Ben Seymour, the grandson of Queensland rich-lister and developer Kevin Seymour.
 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Bulimba riverfront takes Brisbane auction record mantle

<html><body>
Canberra was the hottest capital city weekend auction market, but one of Sydney's last remaining clifftop cottages took the top sale price.
The Canberra sales ranged between $376,000 at Calwell to $1.34 million in a pre-auction sale at Ainslie.
The top sale was a 1959 weatherboard, with brick fireplace at <a href="https://www.realestate.com.au/property/75-tyson-st-ainslie-act-2602" target="_blank">75 Tyson St, Ainslie</a>. It had last sold at $439,950 in 2002.
Canberra's top result was a close-run race as there was <a href="https://www.realestate.com.au/property-house-act-deakin-127604842" target="_blank">a $1.325 four bedroom Deakin home sale</a> and a $1.31 million sale at <a href="https://www.realestate.com.au/sold/property-house-act-o%27connor-127589942" target="_blank">O'Connor of another 1950s home</a>.
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/12/cap%20city.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/12/cap%20city.jpg" alt="">
Canberra's cheapest $376,000 sale was a three bedroom townhouse with 98 sqm living space at <a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/32-36-fink-crescent-calwell-canberra/1317494664811" target="_blank">32/36 Fink Crescent, Calwell</a>. It had last sold at $360,000 in 2010.
A three bedroom Queensland mortgagee offering was the nation's top weekend result.
The <a href="https://www.realestate.com.au/property-house-qld-caboolture+south-127555274" target="_blank">51 Rosemary St, Caboolture South</a> home (below) fetched $210,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/12/caboolture.jpg" alt="">
It previously sold at $255,000 in 2008 shortly after which it became a $255 a week rental.
Sydney scored the weekend's top sale when Belle Property sold a Queenscliff home (top) for $5.55 million at a packed auction with over 100 locals attending.
<a href="https://www.realestate.com.au/property-house-nsw-queenscliff-127534742" target="_blank">The 17 Pavilion Street offering</a> was marked by Belle Property Manly agent Anthony Calacoci as Sydney's last original clifftop house.
The guide for the clifftop property was $4.8 million.
With views north and south over the ocean, it was a one-bedroom cottage without parking on 340sqm of land.
It hasn’t traded for four decades having beeb built for a fisherman.
The next highest across the country was when $4 million was paid pre-auction for a home in Clontarf.
The three level hillside <a href="https://www.realestate.com.au/sold/property-house-nsw-clontarf-127538802" target="_blank">24 Peronne Avenue, Clontarf home</a> (below) was offered through LJ Hooker. It had been initially listed last October with $4 million hopes.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/12/clontarf.jpg" alt="">
It was a relatively quiet auction weekend in Melbourne due to the Labour Day public holiday.
The highest result was <a href="https://www.realestate.com.au/property-house-vic-malvern+east-126733202" target="_blank">a two house, 1650 sqm consolidation</a> at 1399-1401 Dandenong Road at Malvern East at $4.66 million.
It was tipped to fetch $4.4 million to $4.6 million.
Melbourne's dearest house sale was $2.465 million when <a href="https://www.realestate.com.au/property-house-vic-port+melbourne-127569918" target="_blank">172 Clark Street, Port Melbourne</a> was offered.
It was a three bedroom brick home which was marketed as a likely knockdown with a $2 million to $2.2 million price guidance.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/12/melb.jpg" alt="">
Melbourne's cheapest sale was $245,000 at Footscray.
The <a href="https://www.realestate.com.au/property-unit-vic-footscray-127481458" target="_blank">8/18 Eldridge Street, Footscray</a> one bedroom apartment was expected to have fetched between $250,000 and $275,000.
The 55 sqm apartment needed to be renovated.
<div>CoreLogic calculated the capital city preliminary clearance rate rose to 67.3 per cent, with auction activity across the capitals significantly lower.</div>
<div> </div>
<div>There were 1,721 auctions held across the combined capital cities, significantly lower than the 3,026 held last week.</div>
<div> </div>
<div>"The fall in auction volumes this week is due to the fact that four of the eight states and territories have a public holiday on Monday," CoreLogic auction analyst Kevin Brogan said.</div>
<div> </div>
<div>"The preliminary clearance rate across the combined capital cities rose to 67.3 per cent this week, up from 63.6 per cent last week, although this will revise as more results are collected over the week.</div>
<div> </div>
<div>"Over the same week last year, the clearance rate was recorded at 75.1 per cent," he said. </div>
<div>
<div> </div>
<div>The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise, with Sydney at 66.6 per cent across 936 auctions and Melbourne at 72.2 per cent across 447 auctions.</div>
<div> </div>
<div>Looking at results by property type, units outperformed houses again across the capitals with 70 per cent of units selling at auction, while 66 percent of houses sold.</div>
</div>
</body></html>

Queenscliff cottage sells at $5.55 million at weekend auction

<html><body>
Artist James Powditch’s converted Annandale warehouse was passed in at weekend auction.
The $2.85 million opening bid was followed by a vendor bid of $3.7 million.
When <a href="https://www.domain.com.au/9a-albion-street-annandale-nsw-2038-2013608848" target="_blank">mixed-media artist James Powditch</a> and his wife, graphic designer Diane Adair bought their Annandale home, it was just an empty shell of a warehouse.
It was marketed as one of the best warehouse residences in Sydney. 
BresicWhitney agent Chris Nunn had a $3.5 million price guide for the 320 sqm building.
The couple paid $1.05 million before its conversion in 2010 into 500 sqm of internal living space, including five bedrooms.
</body></html>

Big gap between buyer and seller at artist's Annandale warehouse auction

<html><body>
Retired AFL footballer Darren Jolly and his designer wife, Dea, now professional renovators, have listed in Kew East with an October 8 scheduled auction.
<a href="https://www.realestate.com.au/property-house-vic-kew+east-123577366" target="_blank">It is the home</a> they rebuilt after demolishing their heritage-protected house without permission.
<a href="https://www.realestate.com.au/property-house-vic-kew+east-119169183" target="_blank">It was bought for $1,395,000</a> in June last year and they want $2.6 million. 
Dea Jolly, now a Fairfax Media columnist, once confessed she had an addiction to renovating.
The house comes with underfloor heating in the bathrooms, 100 percent wool carpets and 100 percent linen curtains, engineered European Oak flooring, bespoke made handles, plantation shutters on the windows, Velux solar-powered and rain sensing opening skylights plus landscaped gardens with irrigation and lighting. 
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The Block's Darren and Dea Jolly list Kew East cottage

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The last winter weekend sees around 550 homes set to be offered under the hammer on Saturday across Sydney. 
More than last weekend’s 492 and the highest weekend offering since the pre-election rush of 632 recorded on June 25.
But the weekend’s auctions are much less than the record 811 auctioned over the same season-opening Saturday last year.
Domain's senior economist Dr Andrew Wilson said Saturday’s numbers are similar to the auctions on the last weekend of August in 2014 and 2013.
"So far this year there have been 4653 fewer weekend auctions," Dr Wilson advised which is a steep fall of 24.3 percent compared with the same period last year.
Randwick is Sydney’s most popular auction suburb this weekend with eight offerings followed by Chatswood, Marrickville and Wahroonga each with seven.
This weekend nearly 900 Melbourne homes are set to go under the hammer - the highest number since the pre-election rush of 901 auctions on June 25.
Saturday’s listings will be significantly higher than the 653 offered last weekend but below the 1046 auctioned over the same Saturday last year.
Auction numbers in Melbourne have fallen away over winter compared to last year with 1732 fewer auctions conducted – a fall of 7.5 per ent over winter last year. 
Melbourne’s weekend auction market has now recorded four weekends with clearance rates above 75 percent for the first time.
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Sydney weekend auction stock down 24 percent year to date

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A surviving Surfers Paradise cottage which has been in the family for more than 50 years has been listed for sale.
Set just 150 metres from the beach, the modest two-bedroom cottage at <a href="https://www.realestate.com.au/property-house-qld-surfers+paradise-122422534" target="_blank">204 Surf Parade</a> sits in a high-density development area near the Crown Plaza resort.
The cottage sits on 405 square metres of land bought for a reputed $8,000 in 1965 remaining through three generations, and transferred in 1984 internally at $40,000. 
McGrath Broadbeach agent Greg Washington and Elizabeth Taylor puts it under the hammer on May 14 on site.
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Rare Surfers Paradise home auction offering

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Sydney recorded a preliminary clearance rate of 69 percent at weekend auctions compared to 67 percent in the prior week.
The weekend’s top performing Sydney sub-region was the Eastern Suburbs with a clearance rate of 87 percent, followed by Sutherland on 84 percent and North Sydney and Hornsby at 80 percent. 
Sales across Sydney ranged from $340,000 for a one bedroom Surry Hills unit to a pre-auction $5.775 million sale of a five bedroom Woollahra house.
CoreLogic RP Data had advised there were 330 scheduled Saturday auctions given reduced school holiday activity. 
Sydney's clearance rate in April last year was well above 80 percent. 
CoreLogic figures have now put the Sydney clearance rate at below 70 percent for the past five weeks after a strong February start. 
Strathfield was Sydney's busiest auction suburb yesterday with the preliminary results showing four of the five offerings finding buyers.
Some 880 Melbourne residential homes were taken to weekend auction with a preliminary clearance rate of 71 per cent, falling from 73 per cent last week and lower than one year ago when it was 79 per cent. 
The busiest auction activity was held in the inner region where 170 homes went to auction and 73 per cent of reported auctions were successful.  
Melbourne's results ranged between a $260,000 Ormond one bedroom flat and $4,375,000 for a <a href="https://www.realestate.com.au/property-house-vic-brighton-122191682" target="_blank">1960s Brighton home</a> (above) on an 830 sqm Middle Crescent block, that reportedly fetched $900,000 over reserve.
The cheapest house was $267,000 at Drysdale, on the outskirts of Geelong.
The REIV noted the Melbourne outer suburbs have seen a significant increase - about 25 percent - in the number of properties sold at auction this year. 
Reservoir had the highest number of auctions listed with 17, followed by Glen Waverley with 13. Of the 15 reported results, only two of the Reservoir offerings did not sell. Some four did not sell at Glen Waverley's 13 results. 
The preliminary clearance rate across Brisbane was 53 percent, up from 47 per cent and also higher than the 46 percent last year.
Some 145 Brisbane auctions were held, but with the two upcoming public holidays, it is expected that Brisbane’s auction market will be relatively quiet over the next two weeks. 
Adelaide saw 99 auctions with a clearance rate of 66 percent.
Preliminary results for Canberra show the clearance rate for this week sitting at 71 percent, sharing the lead as best selling mainland capital with Melbourne.
The nation's cheapest weekend sale was $67,500 for a one bedroom 40 sqm Eagleby villa on the Gold Coast. It last sold at $85,000 in 2010. 
This week saw 1,667 capital city auctions held.
Preliminary results show that 68 per cent of the national auctions were successful, marking the third consecutive week of auction clearance rates below the 70 per cent mark. 
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Melbourne still strong, but Sydney's auction success rate settles sub-70 percent 

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The retired footballer Braith Anasta missed out when a coastal Sydney apartment went to auction yesterday.
But acclaimed Kiwi film director, Dame Jane Campion scored when five of the 10 registered bidders competed for the Tamarama offering.
She managed to sell her 241 sqm investment property for $2.55 million through Bethwyn Richards of McGrath. 
The recenty separated Braith Anasta attended the auction, and was the underbidder at $2,545,000 at the onsite auction held on the apartment balcony.
Anasta attended with his mother, Kim who is downsizing after selling recently at Malabar. Anasta’s long-time friend and real estate agent, Jason Black from Black Lifestyle Property, who did the bidding was reluctant to give any details surrounding the family's attendance. Anasta moved into his mother's house after his separation from Jodi Gordon.
The walkup apartment has three bedrooms, two bathrooms and outdoor terraces and decking.
Bidding opened at $2 million with Anasta's buyers agent lodging a first bid at $2.2 million.
It was indicated as on the market for sale at $2.4 million.
Campion, who was there sitting inside on a white couch, paid $1.2 million for the two level property in 2001. She was heard to say "wow" after the hammer came down.
She retains a home in Paddington, a terrace house bought after she sold her Alex Popov-designed Castlecrag home.
In 1994 she became the first female to win the Palme d'Or, Cannes Film Festivals most prestigious prize.
Campion recently confirmed she would be co-directing and co-writing a second season of drama series Top of the Lake with the action to be filmed in Sydney and Hong Kong.
Jane rose to fame through a series of short films before her feature debut with Sweetie in 1989.
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