A wave of investment, renewal and precinct growth continues to shape the northern edge of Macquarie Park, where daily life is supported by a rare combination of university activity, corporate employment, major retail, and expansive green corridors. It’s this convergence of amenity and connectivity underpins the setting for <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>’s <a href="https://www.apartments.com.au/new-apartments/la-vera-94-talavera-road-macquarie-park-nsw-2113">La Vera</a>, which has now topped out and is tracking toward completion in mid-2026.

Within this pocket of the precinct, residents move easily between the area’s key anchors. Macquarie Centre, home to more than 360 retailers, fresh food offerings, dining and entertainment, sits at the heart of local convenience and functions as a major transport interchange. The Metro, T1 rail line and extensive bus network place much of Sydney within quick reach, while surrounding arterial links support direct access to neighbouring districts.

[smartcode_project:default project_id=134951 project_image_fid=5829]

Green space remains a defining feature of the immediate environment. Lane Cove National Park stretches along the northern boundary of the precinct, offering bushland trails, cycling routes and quiet riverfront pockets. Shrimptons Creek and the campus grounds of Macquarie University extend these recreational networks, softening the urban setting and creating a daily connection to nature that informs the project’s architectural response.

<a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> have shaped La Vera around these contrasts. The building’s northern elevation adopts an organic, curvilinear form that mirrors the natural topography of the national park. Three sculpted forms soften the tower’s profile and encourage a stronger transition between indoor living areas, balconies and the broader landscape.

[smartcode_project:default project_id=134951 project_image_fid=223737]

Cox Director Felipe Miranda says the building’s outlook played a central role in the design process.

“The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park… The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies,” Felipe Miranda of Cox Architecture said.

Toward the city-facing side, the design shifts to a more urban expression. A gridded facade and extensive glazing capture CBD views, creating a dual strategy that blends ecological outlooks with metropolitan orientation.

[smartcode_project:default project_id=134951 project_image_fid=5827]

La Vera delivers 169 residences across one- to four-bedroom layouts, reflecting the needs of young families, downsizers, first-home buyers and investors seeking long-term certainty within a high-amenity location. From the project, residents can walk to Macquarie University, Macquarie Hospital and nearby corporate offices, reach national park trails within minutes, and enjoy retail and dining without relying on a car.

The project is delivered by Urban Property Group, a 4.5-star iCIRT-rated developer-builder with more than three decades of experience. The company has become a leader in adopting 10-Year Latent Defects Insurance (LDI), first introduced on its Parq Bexley development and now embedded into its pipeline.

[smartcode_project:default project_id=134951 project_image_fid=223727]

La Vera is the first development in Macquarie Park approved to offer this 10-year LDI policy, adding another layer of protection for purchasers and reinforcing the transparency of the construction process.

Urban Property Group CEO Patrick Elias says this assurance has become increasingly important for buyers navigating the off-the-plan market.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been… Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share,” Urban Property Group CEO Patrick Elias said.

Urban Property Group's in-house construction team is forecasting a mid-2026 completion, with <a href="https://www.apartments.com.au/project-marketer/home789">HOME789</a> appointed as the project marketer.

[smartcode_project_cta:default project_id=134951]

Staff Writer

La Vera delivers a nature-connected address within Macquarie Park’s core

<a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA</a>&nbsp;doesn’t just rise over North Sydney, it redefines it. Now in its final release, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>’s $1 billion architectural statement is not just complete, but already reshaping the way people live, connect and dine in this rapidly evolving harbourside CBD.

Positioned beside the new Victoria Cross Metro Station and boasting panoramic views across Sydney Harbour, Aura’s 386 residences crown a mixed-use precinct designed with unapologetic ambition. The curvaceous sandstone-inspired form by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, paired with <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richard Stanisich</a>’s understated interiors, sets a design tone that’s both monumental and intimate.

At its peak, literally, the two penthouses so spectacular they command their own names; La Davina and Il Magnate. The residents are spread across the&nbsp;entire top floor, offering what many consider the most refined residences ever built in North Sydney. Designed by Richard and Kirsten Stanisich, each four-bedroom home is meticulously crafted to evoke calm, space, and permanence.&nbsp;

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/VB70993aG-I?si=adRBlXQliYmYvaSz" title="YouTube video player" width="560"></iframe>

The kitchens are fully wrapped in natural stone, with integrated Gaggenau appliances, Sub-Zero fridges, concealed sculleries, and even a zip hydro tap delivering boiling, chilled and sparkling water on demand. A linear stone fireplace anchors the open-plan living space, dividing lounge and dining zones with quiet sophistication.&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292861]

The master suite, meanwhile, feels more like a private retreat, complete with a custom stone makeup vanity, walk-through dressing area, and spa-inspired ensuite with heated stone floors, a freestanding Villeroy &amp; Boch tub, and timber veneer joinery throughout.

Kirsten Stanisich, Director of Richards Stanisich, said the penthouses offer incredible scale reflective of a single residence.&nbsp;

“We sought inspiration for these remarkable residences from the classic top-floor Parisian apartment," Stanisich said.

"We looked at what made these French apartments so elegant and found it really came down to their scale. It was ultimately this generosity of space that we used for the AURA penthouses, where we’ve designed considered rooms with deep large-scale proportions."

[smartcode_project:default project_id=30959 project_image_fid=310337]

Everyday living at Aura feels no less elevated. A dedicated 24-hour concierge, Technogym fitness centre, sky dining terraces, and a resort-style pool serve a lifestyle designed to rival luxury hotels.

At street level, Aqualand’s own hospitality arm, Etymon Projects, curates a precinct of LA-style bistros, Japanese fine dining, and local wine bars, all seamlessly integrated into the building’s sculptural podium.

[smartcode_project:default project_id=30959 project_image_fid=310337]

This final chapter, aptly dubbed The Finale, is more than a sales phase, it’s an invitation to two of the most exclusive apartments ever to be built in North Sydney.

With limited residences remaining, buyers can access curated incentives including stamp duty rebates, rental guarantees, legal fee coverage, and even $20,000 towards dining within the precinct.

From generous one-bedders to The Icons, two singular penthouses priced well into prestige territory, Aura’s offerings reflect a scale and calibre rarely seen in urban Sydney. And with move-in now immediate, this is no longer a promise of future luxury. It’s happening.

[smartcode_project_cta:default project_id=30959]

Aqualand unveils penthouse collection at AURA By Aqualand in North Sydney

There’s no sign of the development wave that began several years ago slowing along Old Burleigh Road.

Around 10 new apartment developments are either underway or preparing to launch along the 800-metre strip stretching from the southern edge of Surfers Paradise towards the heart of Broadbeach, collectively adding just shy of 1,000 new apartments to the beachfront corridor.

The latest plans propose a further 30 apartments to replace an original six-unit walk-up on a 658 sqm site at <a href="https://www.apartments.com.au/new-apartments/20a-old-burleigh-road-surfers-paradise-qld-4217">20A Old Burleigh Road</a>. The 14-storey building has been designed by Ferro Chow Architecture, which recently joined the Elevation Architecture Group.

The developer behind the project is Geoffrey Booth, whose Future Liv In has focused on delivering rental accommodation across regional Australia.

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="99d393e7-d404-43bc-80cb-6255c39b83d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.44%E2%80%AFPM.png?VersionId=ZFT8F3mOny4M4ut.kFF3woC9WH9oR5gT" />

The Old Burleigh Road development will comprise 18 two-bedroom apartments, 10 three-bedroom apartments, and a single four-bedroom residence occupying the entirety of level 12. Above, the building will be crowned by a two-storey penthouse with its own private lift, several multi-purpose rooms, and two rooftop terraces — one featuring a puppy lawn and spa, the other offering a private swimming pool, sunset deck, and built-in barbecue.

Resident amenities will be located on the second level and include a pool with adjoining spa, cabana, and pool deck, along with an indoor residents’ lounge featuring a bar and an alfresco barbecue kitchen.

In the architectural statement submitted by Elevation Architecture, the project is referred to as “UMI”, which the firm says has been “inspired by the majestic hinterlands and shaped by the coastal climate”.

“It is an exemplar of how community living can still feel at one with nature, breathable, and deeply connected in place,” the architects noted.

They added that the site benefits from established building separation to adjoining towers, helping to maintain privacy, sunlight, and residential amenity, while still offering direct beach access within an urban setting.

“Drawing inspiration from the Gold Coast hinterlands and the region’s natural landscape, the podium and tower detail highlights the contrasting elements of treetop green and cliff-face peach. The vibrant texture and materiality shaped by time has a richness in depth and character.”

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="b3d6c923-a0ab-4d74-86da-177313447e8e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.38%E2%80%AFPM.png?VersionId=i2fygmoVQM6hWpbATTAW_yTitoMTrnI1" />

Old Burleigh Road has become a hotspot for developers, with the three-tower Jewel development kickstarting a wave of projects up and down the strip when it was completed in 2020.

Currently under construction and approaching completion is <a href="https://www.apartments.com.au/new-apartments/faro-broadbeach-123-old-burleigh-road-broadbeach-qld-4218">FARO Broadbeach</a> by 5Point and Bottega, 21 large-scale half- and full-floor apartments. 5Point is also behind the recently launched <a href="https://www.apartments.com.au/new-apartments/lumara-108-old-burleigh-road-broadbeach-qld-4218">Lumara</a>, another 37 apartments to add to the pipeline.

Luxury builder GRAYA is progressing construction on <a href="https://www.apartments.com.au/new-apartments/enclave-by-graya-118-old-burleigh-road-broadbeach-qld-4218">Enclave</a>, its first Gold Coast tower, while Polycell remains the most active developer on the street. They are preparing to launch <a href="https://www.apartments.com.au/new-apartments/sandpiper-broadbeach-155-old-burleigh-road-broadbeach-qld-4218">Sandpiper</a>, a 50-storey redevelopment of the former Sandpiper Holiday Resort that will deliver around 200 apartments alongside extensive resident amenity. The group also has another 130-apartment project approved nearby, as does <a href="https://www.apartments.com.au/news/qld/dvb-approved-for-second-broadbeach-apartment-development">Dean Gallagher’s DVB Projects</a>.

Joel Robinson

First look: Old Burleigh Road apartment development wave continues

Sunshine Coast developer Habitat Development Group continues to position itself as one of the region’s largest new apartment developers.

Its latest project is in Maroochydore, where it is currently delivering <a href="https://www.apartments.com.au/new-apartments/the-millwell-2-millwell-road-east-maroochydore-qld-4558">The Millwell</a>. Adjacent to the new 53-hectare Maroochydore City Centre project, Habitat is planning a further 180 apartments on a 3,468 sqm site at <a href="https://www.apartments.com.au/new-apartments/132-136-aerodrome-road-maroochydore-qld-4558">132–136 Aerodrome Road</a>. The site was purchased with approval for a smaller 13-storey, 103-unit building.

Habitat will demolish the two existing retail centres, currently home to the Salvation Army Family Store and Neighbours Aid, and replace them with an 18-storey building featuring the significant rooftop amenities that have become a hallmark of Habitat developments in recent years. The rooftop will include both indoor and outdoor spaces, anchored by an infinity swimming pool.

<img alt="Maroochydore" data-entity-type="file" data-entity-uuid="ad434d07-666b-4614-b33e-530ad6a2d261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.33%E2%80%AFAM.png?VersionId=7pyLsPWKQuwv0us3_v.9DmbzEc2VZe9Z" />

There will be a mix of one- to four-bedroom apartments.

The Development Assessment Report, submitted to the Sunshine Coast Council, says the proposal&nbsp;is not speculative, but a response to both zoning intent and demonstrated housing need.

“The proposed development represents an appropriate and logical intensification of the site, consistent with the planning framework and the intended urban outcomes for the locality.”

Across the Sunshine Coast, councils are increasingly scrutinising not just height or yield, but whether new projects genuinely align with the long-term structure plans underpinning growth corridors. The&nbsp;ASTP Planning Report&nbsp;reinforces the approach, noting that the project has been shaped around site responsiveness rather than generic typology.

“The development has been designed to respond to the physical constraints and opportunities of the site, while delivering a high-quality residential outcome that integrates with the existing and emerging urban context.”

<img alt="Habitat" data-entity-type="file" data-entity-uuid="3a03fc54-4ca5-4868-88d0-eeced70604e2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.28%E2%80%AFAM.png?VersionId=1pkK3lJrrZjkghTLBReM2zatcas4Nc4B" />

In mid-2025, Habitat, a developer that also builds its own projects, commenced construction on The Millwell, located just over one kilometre from the new proposal. The Millwell will comprise more than 200 apartments across two eight-storey buildings.

Habitat also has two projects on Lake Kawana in Birtinya: <a href="https://www.apartments.com.au/new-apartments/st-clair-birtinya-930-931-waterside-retreat-birtinya-qld-4575">St Clair</a>, a 200-unit, two-building development launched last year and set to welcome buyers this year; and Esperance, a 175-apartment project currently progressing through the development approval process.

First look: Habitat continues to bolster Sunshine Coast apartment pipeline with Maroochydore development plans

John Camilleri, the breeder of legendary racehorse Winx, is set to deliver a landmark two-tower beachfront development that would redefine the Surfers Paradise skyline.

Camilleri, who spent around $100 million acquiring development sites across the Gold Coast in 2025, has lodged plans for two new towers on the dress-circle stretch of Garfield Terrace, just two days before Christmas.

In assembling the site, Camilleri's Celestino Developments has effectively acquired the 71 Garfield project by Iris Capital and AALTO by Weiya Holdings, creating an unrivalled <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">4,000 sqm beachfront holding along Garfield Terrace</a>.

The proposal comprises two residential towers of 55 and 48 storeys, linked by a dramatic skybridge which will home “exclusive VIP and wellness amenities.”

In total, the development would deliver 275 two-, three- and four-bedroom apartments across the two towers, rising above a shared landscaped podium that incorporates a central green space and a beachfront swimming pool stretching more than 90 metres.

<img alt="DBI" data-entity-type="file" data-entity-uuid="097900f3-6bef-4919-b168-b08f2f762876" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.37.58%E2%80%AFAM.png?VersionId=et0SpmcvaPPVrexI_zWi46BVFtZBxAzx" />

Architecture firm DBI, in documents submitted to Gold Coast City Council, said the project at 63–79 Garfield Terrace would “establish a new benchmark for beachfront residential living on the Gold Coast.”

"The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience. Together, the 48-storey North Tower and 55-storey South Tower form a distinctive twin-tower composition whose dynamic silhouette will make a significant contribution to the Surfers Paradise skyline."

DBI said the architectural language draws inspiration from the fluidity and movement of the coastal landscape.

"Each tower is defined by organic, curving forms and continuous balcony ribbons that wrap the buildings, providing deep shading, enhancing environmental performance, and reinforcing the rhythmic, sculptural expression of the façade. These balcony forms also reduce the apparent mass of the towers while maintaining strong visual continuity from podium to summit. Sculpted reflective downturns run along the western spine of both towers, shifting and lifting as they extend upwards to frame service zones and open eastward to maximise ocean views."

<img alt="Garfield" data-entity-type="file" data-entity-uuid="a2a00ce3-a0e9-45d6-b4b5-b7baed592ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.53.40%E2%80%AFAM.png?VersionId=DnruWV1dhLrtXOeElwekyd7vPq2gw55t" />

The project’s most striking feature is the skybridge at level 45, which will house executive lounges, formal dining spaces, wellness facilities and panoramic ocean-facing views.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI added.

The podium will host an extensive suite of recreational amenities, including resident lounges, private dining rooms, a large open green lawn, and the signature 90-metre pool stretching along the beachfront. The pool is divided into lap, lounge and children’s zones.

The southern end of the podium will accommodate additional wellness facilities, including a gymnasium, plunge pools, treatment rooms and a dedicated yoga lawn.

<img alt="Garfield" data-entity-type="file" data-entity-uuid="ee1b4f25-231f-4804-83b1-a573a1481962" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.55.47%E2%80%AFAM.png?VersionId=zObzIA3D5w7EwqPsHjr2pKrA4vbB28zL" />

There will be 127 apartments in the North Tower and 148 in the South Tower, including multiple penthouses, while the Enderley Avenue and Oceanway frontages will be activated by a series of food and beverage tenancies.

Camilleri emerged as the most active site acquirer on the Gold Coast in 2025. He spent just over $30 million acquiring Pacific Point, a 10-level Surfers Paradise apartment block and an adjoining three-level duplex, from fellow racing identity and Aquis billionaire Tony Fung. Plans are now underway for a 93-apartment, 40-storey tower on the 1,682 sqm site.

He also paid $53.65 million for the 1,500 sqm Garfield Terrace site previously marketed as AALTO by Weiya Holdings, before acquiring the adjoining parcel from hotel billionaire Sam Arnaout’s Iris Capital, the developer behind V&amp;A Broadbeach.

First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge

The Agency

The Agency Port Phillip agent&nbsp;Michael Paproth says every prospective apartment buyer he is speaking&nbsp;to at the moment is interested in knowing what&nbsp;the star rating of the building is, or whether there is EV charging.

&quot;Most buyers don&rsquo;t have an EV but understand that they soon will have,&quot; Paproth says, with buyers&nbsp;planning well ahead with their off t​he plan purchases.

Urban recently caught up with Paproth to discuss the trends emerging in the apartment market.

JC: How have you viewed the performance of the of​f the plan market in 2021, and what are the strongest positive and negative factors that will influence outcomes in 2022 and 2023?

MP: The off t​he plan market has been incredibly resilient in 2021. To consider that we threw a pandemic and statewide lockdown and lock out at it shows that Melburnians &ndash; the local market &ndash; have an insatiable appetite for new, low maintenance living.

The strongest positive factors for this market ironically are the lack of approvals for new development that have slumped and are only showing very slight improvement in numbers which will mean a drastic lack of supply into 2023/24. Coupled with the eye watering construction costs due in part to material shortages to lack of apprenticeships the market will absolutely lap up what little availability there is. 
&nbsp; 
The negative factors that will influence the market are all centred around immigration to and migration out of the state. My hope is that Melbourne will once again be seen as the safest and most beautiful City in the world to come and work and study in. As we open back up to the international students and expats return home to avoid the European winter I think we can expect that demand for new and off th​e plan will be extremely strong.

If we miss this opportunity then the sector may struggle. 
&nbsp; 
JC: What trend (short term or long term) has prompted your greatest enthusiasm for the apartment market, and what is the issue of most concern to you and or your clients?

MP: The short term trend that I have great enthusiasm for is seeing buyers embrace what they didn&rsquo;t know they wanted. Melbourne developers have stepped it up in relation to amenity and now buyers are enjoying life in 6 star hotel like accommodation.&nbsp; 
&nbsp; 
The longer term trends are the home as the central hub of entertainment and for work. Work from home is a now a thing and employees are showing flexibility as the pandemic rolls as the risk of a infecting a team or entire office means the flexibility remains. That is translating into studies and spaces for that within residences. We are also seeing things like Chairmans Lounges at Saint Moritz or Vaults at Rondure House which are dedicated, on title work spaces. 
&nbsp;&nbsp; 
JC: Has urbanisation stalled amid the rush to the regions and what will it look like over the decade ahead?

MP:&nbsp;Over 2021 I have sold numerous apartments to families who are maintaining an apartment close to the City in the villages of South Melbourne, Collingwood Elwood &amp; Brighton whilst making the family home on the Peninsula, West coast or Macedon Ranges. That&rsquo;s why we have seen those markets rise to extraordinary levels also. So I sense that the urbanisation may have stalled and a line has been drawn. Buyers want the City for dining, study, work, sports and enterntainment and the regions to enjoy time with family and space to unwind. Covid has taught us that none of us are getting out of life alive so we have to enjoy it. 
&nbsp; 
The next decade I think the trend will only get stronger. I think we will see our regional communities grow and our loved holiday getaway spots become family home towns for traditional City dwellers. WFH is now a thing rather than a stopgap and the ease of commuting with the onset of autonomous driving and better rail and transport infrastructure will ensure that to commute is not only palatable but enjoyable. The City will be a thriving hub of work, education, entertainment and sports. 
&nbsp; 
JC: How important do you view the push for sustainability practices in the apartment market, and what initiative has seized your interest or focus?&nbsp; 
&nbsp; 
MP: I love what Gurner, Hip V Hype and Millieu in particular are doing with their focus on sustainability and industry leading strategies in the new developments market. We are now seeing individual activism in the sustainability space where I think we have worked out that marching in the streets and holding up traffic is really doing nothing in changing politicians minds to act on climate change. &nbsp;We are seeing market led change as buyers are consuming what leaders of the industry are now implementing.

I think we all want to be environme​ntally conscious and our developers are showing us how to do it! History will show that it wasn&rsquo;t government virtue signalling, but the entrepreneurs and developers who effected the most amount of change. 
&nbsp; 
Every (and I mean EVERY) buyer I speak with is asking what star rating is the building and is there EV charging? Most buyers don&rsquo;t have an EV but understand that they soon will have. This is again a situation where our visionary developers are building what we don&rsquo;t even know we need yet. It&#39;s market led. It&#39;s happening now.

"Most buyers don’t have an EV but understand that they soon will have," Paproth says, with buyers forward planning as to what the future holds

jchancellor-FAypfDUnLy

Energy rating and electric vehicle charging on the apartment wishlist: Five Minutes with The Agency's Michael Paproth

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The ASX-listed real estate firm The Agency have entered a trading halt on Thursday morning, pending an announcement which expects to see them ask for further investment.
The group say that to continue as a going concern, they are principally dependent on a raise of $5 million from the issue of convertible notes, which will be subject to shareholder approval.
They're also principally dependent on the execution of an amended deed with their main financier Macquarie Bank. 
The Agency still have a $12 million debt registered to Macquarie, which has been c<a href="/news/the-agency-gets-funding-extension-until-after-easter">ontinually extended from its initial March deadline</a>.
It had been due September 30, but that has now been pushed six weeks to November 14. The $5 million raise will be used to pay down its Macquarie debt.
They say they will need the continued support of creditors.
And whose to suggest a large portion of their capital raise won't be coming from the west of the country, where the last two injections of cash have come from.
It was back in May that the prominent Perth horse owner and breeder Bob Peters invested $1 million in the company through Peters Investments.
Shares will be halted until Monday. 
It comes after The Agency <a href="/news/the-agency-pursue-joint-venture-opportunities-posting-revenue-spike-but-continued-losses-due-to-write-downs">posted further losses in FY2020</a>, but The Agency advised the losses were mainly due to depreciation and amortisation and impairment of goodwill.
The total losses grew to $10.36 million, up on its $9.26 million loss in 2019.
 
 
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jrobinson-rf4aSBido9

The Agency enter trading halt ahead of $5 million capital raising 

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Jason Roach is joining The Agency spearheading the brand’s presence on the Upper North Shore of Sydney.
Jason Roach (pictured left) has 20 years of banking experience, including senior roles at Macquarie Bank and as National Head of Real Estate Services with the Westpac Banking Corporation. 
While managing real estate services at Westpac, Jason Roach worked with The Agency’s CEO Matt Lahood in a financial capacity. 
“I've known <a href="https://theagency.com.au/team/matt-lahood" target="_blank">Matt Lahood</a> for more than 15 years and the team he has assembled was very appealing to be a part of,” Jason Roach says.
“The Agency’s unique model offers operational and network opportunities that are unhindered by the traditional franchise model. Both my banking and real estate backgrounds helped me identify this model was the way forward.” The Agency’s expansion to the Upper North Shore of Sydney will further expand the brand’s extensive referral system across its existing metro-based agents.
Jason Roach has built a successful real estate business over the last six years.
In the first three years of his operation he was placed in the top two per cent of his former brand’s global network of more than 100,000 agents. And in the last three years, he was placed in the top one per cent globally and awarded both Centurion and Double Centurion status with Century 21.
“I have known Jason Roach for many years, both as a banking professional and a real estate professional, he is an outstanding business person and agent, and operates to the highest standards. I am honoured Jason will be representing and spearheading our operation on the Upper North Shore of Sydney,” Matt Lahood (pictured right), The Agency’s CEO says.
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j.ballantyne1990-6AQqhLzZaK

Former Macquarie banker Jason Roach heads up The Agency Upper North Shore of Sydney

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The Agency West Coast have offloaded their rent roll for $3.6 million to Managex Funds Management, a private company chaired by Crown Perth chairman John Poynton.
The deal involves an ongoing partnership with Managex, who are looking at further rent roll acquisitions with The Agency.
The WA rent roll business is currently 1,173 managements.
The sale does not include The Agency Group's east coast property management business which consisted of 3,665 properties under management at the end of June 2020.
"The Agency reaffirms its commitment to East Coast property management business, which remains integral to the Company", The Agency advised.
Managex will use The Agency Group brand in WA under a licence agreement and will focus on retaining property management staff.
They will refer sales leads to The Agency, with The Agency in turn referring property management leads to Managex.
The Agency will accomodate Managex at its Perth office.
Poynton, who sits on the board at Future Fund, recently established Managex alongside Emerald Capital managing partner Kim Slatyer, who is Managex's managing director.
Managex secured debt funding for the acquisition from Judo Bank which recently established an office in Perth headed up by managing director Ben Tuszynski.
The deal is expected to be completed by the end of Q3 CY2020.
On the formation of the strategic partnership and the sale of the West Coast rent roll, The Agency Group’s managing director Paul Niardone, said the sale of the WA rental roll business will improve their balance sheet and facilitate greater alignment to their core business.
“The Agency continues to develop its unique busines model which attracts and incentivises the best real estate sales talent," Niardone said.
"This sale increases our focus on developing this model while simultaneously increasing our referral power and overall business flexibility.
“The benefit to our sales agents is that they will have access to a larger pool of sales leads from the growing Managex owned rent roll and they will also be rewarded for referrals of property managements.”
 
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The Agency sell $3.6 million West Coast rent roll to Managex Funds Management

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The listed real estate firm The Agency slumped to further losses in FY2020 as they announce they are actively pursuing a joint venture.
The Agency advise it will help drive agent recruitment and sales revenue.
There was certainly some goods news from The Agency's financial update.
Their EBITDA of $711,714 was the first time the company posted a positive EBITDA, a $4.9 million turnaround from the FY19 EBITDA loss of $4.25 million.
Annual group revenue rose 48 per cent from $28.34 million to $41.86 million, mainly down to the 26 per cent increase year on year in combined gross commission income.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/8/31/Annual%20Group%20Revenue.jpg" alt="">
Sales were up to 3,153 over FY20, from 2,419 in FY19.
The total losses however grew to $10.36 million, up on its $9.26 million loss in 2019.
The ASX note to shareholders advised however that losses were primarily impacted by depreciation and amortisation (over $6 million) and impairment of goodwill ($5.3 million).
"The board has taken a conservative view on the review of its goodwill on historical acquisitions and believed it was appropriate to impair by $5.3 million for FY2020, in light of market uncertainty as a result of COVID-19", the ASX update said.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/8/31/New%20listings.jpg" alt="">
Salaries and employment costs blew out over the year, up from $24 million in FY19 to $31 million in FY20.
They secured $1.08 million in government assistance which was lower than the McGrath benefit of $2.2 million.
The Agency Group’s managing director Paul Niardone said he is proud of the company performance over the year.
"To report a maiden EBITDA profit, positive cashflow, a strong gain in revenue and other key metrics is a major achievement and testament to the hard work and dedication of our agents and our staff, especially when considering the impact of COVID-19", Niardone said.
“Our quick response to COVID-19 has placed us in an enviable position, allowing us to rebound strongly in key markets.
"We have generated a strong sales pipeline which has flown through into the first quarter FY21 with a record 446 listings for July 2020."
The Agency shares last traded at 2.8c. 
 
 
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The Agency pursue joint venture opportunities, posting revenue spike but continued losses due to write-downs

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Former Screaming Jets drummer, auctioneer and sales agent Craig Rosevear, aka ‘Rosie’, has taken the helm of The Agency’s Newcastle operation. 
Craig Rosevear, joined by his wife Belinda, have decades of property experience between them and are much-loved local identities. “I am so excited about Craig and Belinda Rosevear joining The Agency and representing us in Newcastle. Their varied creative talents, property market knowledge and community networks are quite extraordinary,” Matt Lahood, The Agency’s CEO, explains.
 “They are wonderful people with the community at heart and have been passionate about property for 20 years. Craig is an extremely talented auctioneer and licensed agent, Belinda has been successfully flipping houses for 15 years.” 
In the 90s Craig Rosevear travelled the world with the Screaming Jets, eventually landing in Los Angeles. 
Two things happened when Craig and Belinda Rosevear returned to Newcastle in 2005, they set up Rosie’s School of Rock to teach young people the art of music and give them confidence in life, and they purchased their first property in Hamilton North. This was the beginning of their love affair with property.  Rosie’s School of Rock grew to a team of 23 and became a local institution. Belinda Rosevear focussed on flipping Newcastle-based properties, while Craig Rosevear became a licensed agent and auctioneer in 2016, joining Damien Cooley’s highly-awarded Cooley Auctions’ team.
On top of all of this, Craig Rosevear also became a TV presenter on the 9NBN property lifestyle show, Location...Lifestyle...Living.
“Belinda and I have always been passionate about property, when Covid-19 took hold earlier in the year, we decided to close Rosie’s School of Rock and focus on real estate,” Craig Rosevear says. 
As Matt Lahood shares, the connection with Craig Rosevear was a fortuitous alignment, given Cooley Auctions became our key NSW auctioneering partner in July this year.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/8/24/Craig%20Rosevear%20Rosie%20Screaming%20Jets%20and%20now%20The%20Agency%20Newcastle.jpg" alt=""> “Craig had already been calling The Agency’s Newcastle auctions for some time, he was our first choice. Then Damien Cooley and his team became our official auctioneering partners in July, strengthening our already close relationship with Craig.
"And now, he and Belinda will be leading The Agency sales charge and building an amazing local team!” Matt Lahood says. 
Craig and Belinda Rosevear will be focused on building The Agency brand and team in Newcastle. The duo are already in discussions with key individuals who fit the premium property market they will be targeting.
According to Craig Rosevear, it was The Agency’s positive energy, vibrancy and close-knit team that drew him and Belinda to the brand.  “The agents connected with the brand have always seemed so supportive of each other and there’s a general ‘abundance’ mentality within the brand,” Craig Rosevear shares. 
“We’re Newcastle born and bred, but having lived in Sydney and LA, we truly understand the unique appeal of where we live. In recent years Newcastle has transformed from a town to a city and I’ve never been a prouder Novocastrian.
"Covid-19 has shown that you can successfully work remotely, or perhaps a hybrid of work from home and a couple of days in the office. Newcastle’s role as a satellite town to Sydney has never been more appealing.”
 
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Rockstar, auctioneer and agent Craig Rosevear leads The Agency Newcastle

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The Agency has partnered with real estate coach Claudio Encina, who will reportedly be providing a tailored and on-call coaching service to company's east coast team. “I have known Claudio Encina for close to 40 years, both professionally and personally, he is an outstanding coach who genuinely cares about the welfare and success of the agents he is coaching. He individualises his service to every agent, there is nothing cookie cutter about Claudio’s approach,” Matt Lahood, The Agency’s CEO explains.
“No one can downplay the challenges everyone has experienced through this pandemic and we all need a support network. I will be back working closely with our agents providing guidance and mentorship and I am thrilled I will have Claudio Encina by my side working so closely with our agents also.” Claudio Encina has been coaching agents for more than ten years, and has been in the industy for 25 years.
“My first step with The Agency is to work closely with the agents on creating a strong position in the post-Covid market. At first it was about pivoting and quickly adapting to the necessary changes Covid required, but now we need to shift the needle on their businesses,” Claudio Encina says. “This includes the 12-week sprint to spring and strategic planning around the five critical drivers within an agent’s business.” 
According to Claudio Encina, agents can sure up their business’s future with a pro-active project management approach addressing the five critical drivers.
He describes these critical drivers as: lead generation; nurture (client ecosystems); conversion; vendor expectations and buyer management.  “I am honoured to work with The Agency and alongside Matt Lahood who I have known for 40 years. It is a prestigious brand with an impressive stable of agents. I am looking forward to providing support and proactively helping the agents grow and flourish professionally and personally,” Claudio Encina concluded.
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The Agency partners with real estate coach Claudio Encinas

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James Ledgerwood has quit The Agency at Bondi Beach to join Ray White Double Bay.
Before moving back home to Sydney, he started his real estate career selling property at Surfers Paradise for Ray White.
His real estate career started in 2004 and then from 2011 with McGrath on the Gold Coast.
Over the past year realestate.com.au data suggests he sold 24 properties, with 20 houses at a $4 million medium and four units at a $1 million median. 
His most recent sale was in early June at Bondi with a $1.045 million apartment preceded by an $855,000 Bondi sale in early April.
Some of his sale results during his time at The Agency have included;
<ul>
<li>307 ‘Pacific’ 186 Campbell Pde, Bondi Beach - $6,000,000</li>
<li>13 Darley Road, Randwick - $5,550,000</li>
<li>Lighthouse 516 ‘Pacific’ 186 Campbell Pde, Bondi Beach - $4,550,000</li>
<li>6 Kings Road, Vaucluse - $4,100,000</li>
<li>310 Bondi Road, Bondi - $3,800,000</li>
<li>90 Ocean St, Bondi - $3,738,000</li>
</ul>
 
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James Ledgerwood quits The Agency

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The Agency have again pushed back their debt repayment with their major funder Macquarie.
Earlier this week The Agency, set up in 2017 by a band of former McGrath agents, updated shareholders that they negotiated a two week extension on their debt repayment to their tier one funder.
It pushed the March 31 payment to April 9.
The Agency have negotiated a further extension, with the repayment date now pushed until after Easter, April 14.
"The Board will provide a further update to the market closer to the conclusion of the extension period", the ASX update advised.
The Agency's share price has dropped 20 per cent since the initial announcement, with shares now trading at ¢4, down from ¢5.
In their first debt payment extension notice, The Agency advised it had been in discussions with other credible debt providers regarding refinancing of its primary bank debt.
All non-commissioned staff at The Agency will see their hours cut, effective mid-April, given the reduced workloads due to the ongoing COVID-19 pandemic. 
 
 
 
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The Agency gets funding extension until after Easter

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The Agency have renegotiated their debt repayment terms, with a repayment due today extended by two weeks.
They advised their shareholders that their current funder, Macquarie Bank, "remained supportive of the company and expressed an interest to extend the current debt facility."
The repayment will now be due April 9.
The Agency have also been in discussions with other credible debt providers regarding refinancing of its primary bank debt, with an update expected near the next repayment date.
All non-commissioned staff at The Agency will now see their hours cut, effective mid-April, given the reduced workloads due to the ongoing COVID-19 pandemic. 
Things have never been busier given they have 4500 tenants.
The Agency thanked the Federal Government for the new Job Keeper program which allows companies to access $1,500 per fortnight per employee should The Agency's turnover decline by 30 per cent.
They may well be bracing for the prospect, with The Agency's managing director Paul Niardone saying the new initiative will assist them in keeping their team employed and potentially lessen the time they will be working to reduced hours.
Mr Niardone said it is clear there is a need for immediate measures so The Agency continue to deliver their selling and management goals.
“We do not want to follow the example of other large companies and stand down the workforce to ride this crisis out", Mr Niardone said.
"We want to avoid staff reduction as much as possible and avoid causing anyone the additional stress of having to find a job in what is already a trying time.
"What we do want to do is work together to ensure that we support each other and remain in employment.” 
They advised the business continuity measures have been supported by the "vast majority of its staff".
“It is not just about ensuring the business and all its staff can successfully navigate this period of uncertainty, but that we use this time to reinforce our systems and practices and ensure we are well positioned to take advantage of what in time will become an improving market," Niardone said.
The Agency's share price spiked last week, up ¢2 to ¢6 a share. Shares are currently trading at ¢5, reflecting a $15 million market capitalisation.
The Agency boasts a rent roll valued at $23.5 million and mortgage book valued at $5.2 million.
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