Construction has commenced&nbsp;<a href="https://www.apartments.com.au/new-apartments/kew-palm-house-bellevue-hill-88-birriga-road-bellevue-hill-nsw-2023">Kew Palm House</a>, marking a significant milestone for the boutique Bellevue Hill apartment project on one of the suburb's best streets.

Developer <a href="https://www.apartments.com.au/developers/kew">KEW</a> recently hosted the traditional ground-breaking ceremony, joined by key project partners, officially turning the soil on what will become one of Bellevue Hill's most impressive new developments in one of&nbsp;Sydney’s most tightly held residential markets.

[smartcode_project:default project_id=133966 project_image_fid=352214]

Set across two low-rise buildings on the dress circle Birriga Road, Kew Palm House will deliver a mix of 16 two-, three-, and four-bedroom residences, including whole-floor homes and penthouses, responding to sustained demand from downsizers and owner-occupiers seeking high-quality apartment living without leaving the suburb.

The project occupies an amalgamated 3,000 sqm site bordering the Royal Sydney Golf Club, a rarity for new apartment development in <a href="https://www.apartments.com.au/developments/bellevue-hill-nsw-2023">Bellevue Hill</a>.

Architecture by Woods Bagot takes a townhome-inspired approach, with finely detailed façades and layered massing designed to sit comfortably within the established streetscape.

[smartcode_project:default project_id=133966 project_image_fid=352216]

The buildings are surrounded by landscaped gardens by <a href="https://www.apartments.com.au/landscape-architect/dangar-barin-smith">Dangar Barin Smith</a>, with communal pathways leading to a pool house and shared alfresco spaces intended to support a quieter, more residential form of apartment living.

Interiors will feature natural materials including travertine, stone and engineered timber, alongside V-ZUG kitchen appliances, with layouts prioritising generous proportions, privacy and indoor-outdoor connection.

Each residence has been designed to maximise natural light while maintaining separation from neighbouring homes.

[smartcode_project:default project_id=133966 project_image_fid=352222]

Kew Palm House forms part of KEW’s growing Eastern Suburbs portfolio under the Positive Investment Enterprise group. It follows the completion of Kew Bondi on Bondi Road, with Kew Hillcrest in Rose Bay also currently under construction. Palm House reflects the developer’s longer-term commitment to Bellevue Hill, where opportunities for new, design-led apartment projects remain limited.

Kew Palm House is targeting completion in late 2027, with construction to be delivered by Harvestland Construction. KEW also has Kew Hillcrest in Rose Bay under construction, just five luxury apartments near the beach.

[smartcode_project_cta:default project_id=133966]

Staff Writer

Construction commences at Kew Palm House in Bellevue Hill

Brisbane-based <a href="https://www.apartments.com.au/developers/spyre-group">Spyre Group</a> is continuing to bolster its impress SEQ development pipeline with one of its most ambitious projects to date.

The developer, led by Daniel Laruccia and Andrew Malouf, is planning just over 300 apartments across three towers on the prized beachfront side of Main Beach Parade in Main Beach.

The prized 3,344 sqm site at&nbsp;<a href="https://www.apartments.com.au/new-apartments/3640-main-beach-parade-main-beach-qld-4217">3640-3642 Main Beach Parade</a> also fronts Stafford and Montgomery Avenue and will offer street-level hospitality.

<img alt="3640 Main Beach Parade, MAIN BEACH QLD 4217" data-entity-type="file" data-entity-uuid="18bfcdb3-b958-4b20-a85b-c61e3dbf81b9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Spyre%20DA%20pers.png?VersionId=QvGNOHg6KDoScJZw2nAkvbun0DT2gUn1" />

The project has been designed by New Zealand-based architecture firm Monk Mackenzie, whose scheme references the fluidity of coastal forces. The smallest tower will be 37 storeys, with the other two topping out at 41 storeys. The sculptural form intends to "resonate with the site's unique peninsular position between the Coral Sea and the Broadwater."

The southernmost tower will have just 59 four-bedroom apartments, above two food and drinks venues. Towers two and three, the tallest, will have 125 two- and three-bedroom apartments in each.

“The towers stand not in opposition to the dynamic coastal landscape, but in dialogue with it,” the architects wrote in their Design Report.

“Like tide posts embedded in sand, they register change. The movements of water, light, air, and human circulation gather and disperse around them”.

<img alt="3640 Main Beach Parade, MAIN BEACH QLD 4217" data-entity-type="file" data-entity-uuid="cb2f3eb7-c517-47e5-afc8-01685c658a82" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/spyre%20podium.png?VersionId=hYe0w7UBEVNY7LPcoK9PnO9myEGn_xES" />

The podiums of each tower will feature landscaped communal open spaces, pools, and active wellness zones with spas, saunas and gyms with outdoor areas, as well a cinema and dining spaces.

Spyre's application describes the site as “uniquely positioned” to accommodate such scale, noting its separation from other towers, underutilised status, and alignment with the Gold Coast’s Light Rail Urban Renewal overlay. The staging strategy allows the towers to be delivered independently. Before it's amalgamation to make it a larger site, Spyre had approved plans for MARI, a 19-storey building with 15 apartments

<img alt="3640 Main Beach Parade, MAIN BEACH QLD 4217" data-entity-type="file" data-entity-uuid="ef40ca57-1c77-4568-a8aa-91c742334bef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/spyre%20amenities.png?VersionId=BcaHvU4UeLkabtNlqydmvkuTEyuYmpft" />

Spyre’s wide-ranging portfolio includes Watts &amp; Wright in Bulimba, Moray House in New Farm, and ARC Residences in Toowong, all of which are approaching completion. It also includes Hampden Ltd in Melbourne’s Bayside, marking the company’s first project in Victoria’s capital.

Spyre has previously achieved significant success on the Gold Coast, setting region-breaking records at Glass House by Spyre in Burleigh Heads, where apartments sold for $24 million and $24.54 million. Cala Dei in Coolangatta also sold out in record time.

Spyre will soon launch Echo by Spyre, a boutique development of just nine villas in Tugun.

Joel Robinson

Spyre's three-tower beachfront plans for Main Beach

IPM Property is progressing plans for its third development in Mona Vale in Sydney's Northern Beaches, and its latest will be the biggest yet.

IPM, led by Steven Sroba and Chris Webster, has filed a State Significant Development Application to the NSW Government's Housing Delivery Authority for 82 apartments on a prime 6,122 sqm site stretching across <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and just under 800m from Mona Vale town centre.

They've had <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> draw up the plans for the three-building development which will offer a mix of 26 two-bedroom units and 56 three-beds with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a>.

According to the Design Report by PBD, the built form "responds to the site’s natural fall, solar orientation, and established vegetation, creating a layered architectural expression that balances scale, materiality, and landscape”.

<img alt="159-167 Darley Street West, Mona Vale" data-entity-type="file" data-entity-uuid="44040ed2-13c6-4f18-8326-a51467cb8532" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mona%20vale%20pers.png?VersionId=4H1gEiyyCX2yT_fYV6kAdWaaVlCttC6P" />

The proposal aims to maximise passive design outcomes, with the site’s northern orientation supporting solar access and cross-ventilation. Building footprints have been shaped to preserve high-retention trees and accommodate an overland flow path, which runs diagonally through the rear of the site.

The development includes several sustainability initiatives, such as full electrification, EV charging provisions, and generous communal open spaces integrated across the ground and rooftop levels. As outlined in the planning documents, the buildings have been stepped in both plan and elevation to reduce bulk and provide separation to adjacent dwellings, in line with the Apartment Design Guide and local controls.

The project site falls just within the 800-metre radius covered by the NSW Government’s Low and Mid-Rise Housing Reforms, which entered their second stage in February 2025. These reforms introduce specific planning controls that significantly increase the potential for medium-density housing growth within 800 metres of the Mona Vale town centre.

<img alt="159-167 Darley Street West, Mona Vale" data-entity-type="file" data-entity-uuid="5df61e6d-0696-4c1e-81c2-8d3535228878" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_9.png?VersionId=vWjI2oCZhAkCPKv4xMEVLdVNkn.keD6_" />

IPM has been active in the local market for several years. Its recent projects include Maya on Bungan Street near the town centre, a 33-apartment development completed in late 2024, and Iluka on beachfront Golf Avenue, a boutique project of just 14 apartments. Iluka set a local record in 2021 when a full-floor, three-bedroom apartment sold off the plan for $4.775 million.

Nearby in Palm Beach, IPM is also delivering Snappermans, a collection of just five luxury apartments designed by Koichi Takada Architects, located steps from Pittwater. The developer has also recently completed Como Coogee, a 20-apartment development on Carrington Road.

First look: IPM plans third Mona Vale project

With demand for high-quality family homes in the inner west continuing to rise, young families are increasingly turning to new forms of multi-generational living.

At <a href="https://www.apartments.com.au/buildings/ashbury-terraces-ashbury-165-171-milton-street-ashbury-nsw-2193">Ashbury Terraces</a>, Nikki Pham and Danny Lai are among the growing number of residents choosing the precinct for its space, design integrity and strong sense of community.

For Nikki and Danny, purchasing a three-storey terrace was about securing a long-term home for their young family. Having spent most of their lives in the inner west, they first discovered the project while it was under construction.

“We walked past and had a look during the build and instantly felt the vibe. It had everything we were looking for,” said Nikki.

A return to green, open spaces was a major drawcard after living closer to the CBD.

“We like going for walks, and here it feels like a mini oasis while still being central to everything we need,” she said.&nbsp;

[smartcode_project:default project_id=112253 project_image_fid=354944]

Inside, the couple were immediately drawn to the craftsmanship.&nbsp;

“I love the Calacatta marble and timber detailing. If I’d designed it myself, these are exactly the fittings and fixtures I would have picked,” Nikki said. “There’s actually very little I’d change.

“We’ve found the craftsmanship has been great and I believe the beautiful arches and curves, including on our stunning staircase, are all made by hand.”

Since moving in with their seven-month-old baby in mid-August, the family has been making the most of the amenities, especially the pool.&nbsp;

“We love using the shallow area with the baby. It’s great for kids, and the sunbeds are perfect when it’s not too hot,” Danny said.

[smartcode_project:default project_id=112253 project_image_fid=354939]

The home features kitchen, living and dining areas on the ground floor with courtyard access to the pool, two bedrooms and a study on the middle level, and a master suite on the top floor. The proximity to local parks, childcare, and schools also made it an easy choice.

Nikki has noticed the project is sparking interest from the extended families of new residents.&nbsp;

“Several of our neighbour’s parents have now bought here too. It’s ideal for multi-generational living because everyone has their own space but you’re still close by.”

<h2>A growing trend in the inner west</h2>

Aras Labutis, Head of Urban Transformations at <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>, said families like Nikki and Danny’s reflect a broader shift.

“Ashbury Terraces was designed for families at different life stages who want to stay connected to the inner west, including multi-generational households," Labutis said.

"Some terraces even include lifts, which make them ideal for older residents who want to remain independent while living close to children or grandchildren."

[smartcode_project:default project_id=112253 project_image_fid=354936]

Recent ABS data shows around one in five Australian households is now multigenerational, following a 22 per cent rise in the five years to 2021.

“The demand we’re seeing aligns with broader national data showing ongoing growth in multi-generational living as families look for practical, long-term solutions in well-connected suburbs.”

<h2>Milton Estate launches as the precinct’s next chapter</h2>

Following this strong response, Coronation is now registering expressions of interest for Milton Estate, the next evolution of the precinct. Strong sales and sustained interest in family-focused inner west homes have underpinned the decision to bring this next stage to market sooner than anticipated.&nbsp;

[smartcode_project:default project_id=112253 project_image_fid=358839]

The new collection continues the same design principles, quality materials, heritage sensitivity and family-focused layouts, and its launch reflects demand from both local buyers and extended families who want to remain part of the growing community at Ashbury Terraces.

<h2>A new neighbourhood taking shape</h2>

Designed by award-winning architects <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, and brought to life with landscaping by <a href="https://www.apartments.com.au/landscape-architect/360-degrees-landscape">360 Degrees</a>, Ashbury Terraces comprises 136 residences across five low-rise buildings, supported by amenities including a pool, gym and landscaped communal spaces.

For Nikki and Danny, it already feels like a place to grow for years to come.

“We’ve found great childcare nearby, and Ashbury Primary and Trinity Grammar are within easy reach. There are other excellent public and private school options too,” Nikki said.

“It’s hard to find something like this in the Inner West,” she added. “It’s certainly unique in <a href="https://www.apartments.com.au/developments/ashbury-nsw-2193">Ashbury</a>. We’ve got everything we need here and it already feels like home.”

[smartcode_project_cta:default project_id=112253]

Ashbury Terraces proves a perfect fit for growing families and multi-generational living

An exclusive collection of luxury Sky Homes featuring sweeping water views, each with their own private rooftop terrace and marina berth, are part of the latest release at Lewis Land’s visionary <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplanned community.&nbsp;

The Sky Homes, which sit within the Signature Collection, have been designed by&nbsp;<a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>&nbsp;and&nbsp;feature contemporary light-filled coastal interiors, accented by natural textures of timber and stone. The homes range from 282 sqm to 367sqm and offer three bedrooms, three bathrooms, multiple living zones, three car parks, large private balconies, and their own rooftop terraces. &nbsp;

[smartcode_project:default project_id=113271 project_image_fid=359204]

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the three double-storey Sky Homes occupying the &nbsp;upper levels of The Waterline apartment building formed part of the masterplan’s Signature Collection of &nbsp;luxury residences. &nbsp;

“The exclusive Sky Homes are more than penthouses, they are double-storey homes featuring expansive living spaces and outdoor terraces,” Mr Long said.&nbsp;

“Located on levels five and six of The Waterline, each Sky Home includes its own private marina berth with direct Broadwater access and carefully curated high-end finishes throughout.”&nbsp;

&nbsp;

[smartcode_project:default project_id=113271 project_image_fid=359206]

The launch of The Signature Collection coincides with the milestone topping out of The Waterline, the first of three residential collections being delivered in the first stage of Harbour Shores.&nbsp;

Residents will also have access to a private pool and other resident-only amenities including a large &nbsp;lagoon pool, social clubhouse, tennis court, gym, yoga and sauna facilities. &nbsp;

Prices for the Sky Homes start from $3.65 million. &nbsp;

&nbsp;

[smartcode_project:default project_id=113271 project_image_fid=290031]

The Signature Collection also features The Residences, an exclusive release of six premium waterfront villas, positioned directly on the 1.2km waterfront boardwalk.&nbsp;

The Residences offer more than 350 sqm of contemporary living with premium finishes throughout and &nbsp;dining spaces that flow seamlessly to the outdoor entertaining area on the ground floor. Each have their own private plunge pool overlooking the water, and a private marina berth.

All villas include two secure car parks and residents have access to the extensive amenities within the broader precinct. Prices start from $3.05 million. &nbsp;

[smartcode_project:default project_id=113271 project_image_fid=290030]

Harbour Shores is a resort-style community focused on lifestyle and wellness where neighbourhoods &nbsp;are connected by extensive landscaping, green spaces and pedestrian networks, including a 1.2- kilometre waterfront boardwalk.&nbsp;

Boasting a 6 Star Green Star Communities V1.1 rating, the highest level of sustainability of any project &nbsp;on the Gold Coast, Harbour Shores will deliver more than 2,000 homes over the next decade.&nbsp;

Colliers is marketing Harbour Shores, and has seen significant demand from local owner-occupiers.

[smartcode_project_cta:default project_id=113271]

Lewis Land unveils Harbour Shores’ double-storey sky homes with private marina berths

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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