ANZ believes the Reserve Bank is in no rush to move again.

Following the release of the May Monetary Policy Board Minutes, ANZ has taken the view that the RBA is now firmly in a holding pattern, with the cumulative impact of previous rate hikes giving the Board scope to assess how the economy evolves from here.

That positioning, in ANZ’s view, makes a June rate hike unlikely.

The bank continues to expect the cash rate to remain unchanged at 4.35 per cent for an extended period, with the RBA adopting what is effectively a wait-and-see approach.

The Minutes point to a Board that sees financial conditions as already restrictive, but without a clear read on just how restrictive they are. That uncertainty has shifted the focus away from immediate policy action and toward monitoring both domestic conditions and global developments, particularly the conflict in the Middle East.

As ANZ interprets it, the Board is deliberately avoiding strong forward guidance.

Instead, it is allowing itself flexibility, acknowledging that monetary policy has limited ability to influence the near-term trajectory of inflation, while also recognising that economic growth is likely to remain below potential for some time.

Despite that pause in momentum, ANZ notes that the Board still carries a tightening bias.

The Minutes reveal that, in weighing up its decision, the Board seriously considered another 25 basis point increase. The key debate centred on the trade-off between inflation and activity, particularly in the context of global uncertainty.

Ultimately, most members leaned toward the inflation side of that equation.

Underlying inflation is still expected to remain above target for an extended period, regardless of how external risks evolve. That has led to a view within the Board that the risks to its inflation objective have increased, and that the current cash rate may not be sufficiently restrictive to fully contain those pressures.

That’s important.

While the decision, for now, is to hold, the underlying tone of the Minutes suggests the door to further tightening has not been closed.

ANZ also points to commentary from Assistant Governor (Economic) Sarah Hunter, who highlighted the risk that inflation could pass through the economy more quickly and broadly than in previous cycles. Both Hunter and a majority of the Board expressed concern that inflation expectations could become less anchored after such a prolonged period above target.

That combination, persistent inflation and the risk of expectations shifting, is what continues to underpin the RBA’s cautious stance.

However, where ANZ diverges from the RBA is on the outlook for activity.

The Board appears relatively comfortable with current spending patterns, effectively downplaying recent declines in business and consumer sentiment. It notes that sentiment has historically been only weakly correlated with actual spending, and that feedback from its liaison program has not yet pointed to a meaningful slowdown in consumption.

ANZ is less convinced.

The bank believes the link between household disposable income, sentiment and spending is more direct than the RBA is currently acknowledging. With inflation continuing to erode real incomes, ANZ expects household spending to soften more materially than the central bank is forecasting.

That divergence matters because it shifts the balance of risk.

If activity weakens more than expected, the trade-off between inflation and growth changes. In ANZ’s view, that would reduce the need for further tightening and reinforce the case for the RBA to remain on hold.

It also suggests that the current policy setting may already be doing more work than the Board fully appreciates.

The broader takeaway from ANZ’s interpretation is that the RBA is walking a narrow path.

On one side sits the risk of inflation remaining elevated for longer than expected. On the other is the growing pressure on households and the potential for a sharper slowdown in activity.

For now, the Board is choosing to wait.

But it is a pause that still carries an underlying tightening bias, rather than a clear pivot toward easing.

In practical terms, that leaves the cash rate anchored at 4.35 per cent for the foreseeable future, with the next move still uncertain.

For borrowers, it reinforces the reality that relief is not imminent.

And for the broader economy, it highlights the delicate balance the RBA is trying to strike, between bringing inflation back to target and avoiding an unnecessarily sharp slowdown in growth.

According to ANZ, it is a balance that is becoming increasingly difficult to maintain.

Joel Robinson

RBA to hold rates for "prolonged period" rather than hikes: ANZ

<a href="https://www.apartments.com.au/developers/venturecrowd-property-projects">VentureCrowd</a> is down to the final Canopy Villa release at Cumulus Grand Villas in Carrara, as construction continues on the 59-residence gated community positioned above 100 hectares of natural savanna on the Gold Coast.

The remaining Canopy Villa forms part of one of four collections within the <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>-designed community and has attracted interest from buyers seeking larger-format homes that combine privacy, security and low-maintenance living. Positioned within a private cul-de-sac and facing a protected black she oak forest, the four-bedroom villa includes a large private outdoor area suited to pet owners and families wanting more flexible space.

<a href="https://www.apartments.com.au/new-townhouses/cumulus-grand-villas-carrara-17-baltimore-court-carrara-qld-4211">Cumulus Grand Villas</a>, located at 17 Baltimore Court, comprises a mix of three and four-bedroom villas across the Skyline, Canopy, Savanna and Broadview collections. Prices currently range from $1.455 million to $1.895 million, with the final Canopy Villa priced from $1.825 million.

[smartcode_project:default project_id=135663 project_image_fid=360477]

The Canopy Collection villas offer four bedrooms, 2.5 bathrooms and approximately 245 sqm of internal space, alongside double garages and landscaped private areas. Expansive glazing, open-plan living spaces and private balconies have been designed to maximise natural light and outlooks toward the surrounding savanna landscape.

Construction is now underway across the fully funded development, which VentureCrowd says has become an increasingly important consideration for buyers assessing off-the-plan opportunities on the Gold Coast. The project is being delivered by <a href="https://www.apartments.com.au/builders/devcon">Devcon Property Group</a>, which has operated in South East Queensland since 1993 and delivered more than 1,000 homes across the region.

VentureCrowd Director of Property David Whitting previously said the project responds to changing buyer priorities in the prestige Gold Coast market.

“Flexible floorplans have proven particularly relevant for purchasers aged between 40 and 65, including next home buyers, downsizers and investors,” Whitting said.

[smartcode_project:default project_id=135663 project_image_fid=360505]

The buyer profile at Cumulus has reflected that shift toward owner-occupier-driven demand. Stuart Towns and Tracey Loynes recently purchased a Canopy Villa, drawn to both the lifestyle offering and the flexibility the home provided for their next stage of living together.

The couple, who met three years ago, sold their Robina home earlier this year after identifying what they saw as strong long-term investment potential at Cumulus while remaining within the same Gold Coast market. The villa’s private backyard was a major drawcard for their dog Luna, while proximity to golf courses including Emerald Lakes also aligned with their lifestyle interests.

Beyond the residences themselves, the community has been planned around shared lifestyle and recreation amenities. The Infinity Terrace will include a 20-metre heated pool, barbecue facilities, alfresco dining spaces and elevated retreat areas overlooking the surrounding landscape. Walking trails, a private nature reserve, orchard and herb garden are also integrated into the masterplan.

[smartcode_project:default project_id=135663 project_image_fid=360473]

BDA Architecture Director Darren Greenaway said the design approach was heavily influenced by the site’s outlook and secluded setting.

The practice sought to create what Greenaway described as a “little piece of paradise,” drawing inspiration from the elevated views, surrounding greenery and quiet location.

<a href="https://www.apartments.com.au/developments/carrara-qld-4211">Carrara</a> continues to attract buyers seeking larger homes within proximity to the coast but without direct beachfront pricing. Cumulus sits within easy reach of Broadbeach, Pacific Fair, Robina Town Centre and the M1, providing connections north to Brisbane and south toward the Gold Coast Airport and northern New South Wales.

The first stage of Cumulus Grand Villas is targeting completion in 2026.

[smartcode_project_cta:default project_id=135663]

VentureCrowd nears sell-out of Canopy Collection at Cumulus Grand Villas in Carrara

Waverley Council has made a call that many councils have been reluctant to make publicly. Growth is coming, regardless of who controls it.

The release of the Bondi Junction Vision and Master Plan is less about whether the Eastern Suburbs’ primary centre will change, and more about how that change is shaped, funded, and ultimately experienced on the ground. Waverley Council has released a 100-page plan which is effectively the first comprehensive blueprint for Bondi Junction in over two decades, and in doing so, signals a clear shift in how councils are positioning themselves in the current planning environment.

For the past 18 months, the conversation across New South Wales has been dominated by the State Government’s Low and Mid-Rise Housing reforms and the emergence of the Housing Delivery Authority pathway. Both have created faster, more centralised avenues for development approvals, particularly in well-located, infrastructure-rich areas like Bondi Junction.

Waverley Council’s response has been to move early, and decisively.

Rather than react to individual proposals as they come through the HDA or broader State-led reforms, Council has sought to establish a clear, place-based framework that sets the terms for how Bondi Junction evolves. The underlying position is relatively straightforward: if densification is inevitable, it should be tied to infrastructure, public domain improvements, and a cohesive vision for the centre, not delivered piecemeal through ad hoc applications.

<img alt="bondi junction" data-entity-type="file" data-entity-uuid="7f1f729c-ed99-4c6c-bf87-ffbce6991941" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-19%20at%209.58.16%E2%80%AFAM.png?VersionId=ULX4OlXKjeJ5BvNCNGL86evgXCjCfMih" />

At its core, the document is attempting to reposition Bondi Junction from what it largely functions as today, a transport interchange anchored by a major retail centre, into something far more layered. The ambition is to transform it into what the plan describes as the “civic and cultural heart of Sydney’s East,” a place that is active beyond commuting hours and capable of supporting a broader mix of uses, experiences and communities.

That repositioning is built around four key ambitions.

The first is to create a true destination. Bondi Junction already attracts significant foot traffic, with more than 86,000 daily transport users and millions of annual retail visits, but much of that activity is transient. People pass through, rather than stay.

The Master Plan seeks to change that dynamic. It leans heavily into the idea of an “18-hour economy,” extending activity well beyond traditional retail hours through dining, cultural programming, events, and a more active night-time offering. This is not just about adding more hospitality venues, but about fundamentally shifting how the centre operates, from a daytime shopping destination to a place that functions across the full span of the day and into the evening.

Oxford Street Mall sits at the centre of that shift.

Long seen as underperforming relative to its potential, the Mall is identified as one of the key catalyst projects in the plan. It is to be reimagined as a day-to-night spine, combining retail, dining, wellness and cultural uses in a way that creates a continuous flow of activity. Outdoor dining, rooftop venues, laneway activation and a curated events program are all part of the strategy, alongside significant public domain upgrades that aim to improve comfort, safety and usability.

&nbsp;

The second ambition is to transform Bondi Junction into a world-class interchange.

Despite being one of the most heavily used transport nodes in Sydney, the current experience is fragmented. Connections between the station, Westfield, Oxford Street Mall and surrounding streets are often unclear, and major roads create physical barriers that disrupt pedestrian movement.

The Master Plan proposes a more seamless, people-focused network. That includes clearer pedestrian links, improved wayfinding, better integration between transport modes, and a rethinking of how arrival into the centre is experienced. The aim is to shift the perception of Bondi Junction from a place people move through, to a place they arrive in.

The third ambition focuses on greening and open space.

One of the more consistent pieces of community feedback throughout the Vision phase was the need for more greenery, better public spaces, and a more comfortable urban environment. Despite being surrounded by major parks, Bondi Junction itself has relatively limited accessible open space, with much of the public realm dominated by hard surfaces and traffic infrastructure.

The plan responds with a network of new and upgraded public spaces, increased tree canopy, and what it terms the “Parkline,” a green link connecting Waverley Park through to Centennial Park. This is not just about aesthetics. It is about addressing heat, improving liveability, and ensuring that increased density is matched by access to high-quality outdoor space.

The fourth ambition is perhaps the most important from a development perspective: growth that gives back.

Bondi Junction is already the primary location for new housing supply in the Waverley LGA, and that is expected to continue. The area carries a target of 2,400 new dwellings by 2029, with further growth projected beyond that as demand for well-located housing continues to rise. The Master Plan does not seek to limit that growth. Instead, it attempts to shape it.

New housing is to be concentrated around transport, with stepped building heights designed to protect the character of surrounding neighbourhoods. At the same time, the plan introduces a more explicit link between development uplift and public benefit. This is where value capture becomes central.

The document outlines a framework where increased development potential is tied to contributions that fund public domain improvements, community infrastructure, open space, and affordable housing. It is an approach that recognises that much of the transformation of Bondi Junction will be delivered by the private sector, but seeks to ensure that the benefits of that growth are shared more broadly. The Civic Precinct is a key part of that equation.

Leveraging Council-owned land, the plan proposes a consolidated civic and cultural hub centred around Ebley Street. This would include new community facilities, cultural spaces, and potentially a new Council Chambers, creating a focal point for civic life that currently does not exist in Bondi Junction at scale.

It is one of several catalyst projects identified in the Master Plan, alongside the Oxford Street Mall transformation. These projects are intended to anchor change, acting as early interventions that unlock broader investment across the precinct.

Importantly, the Master Plan is not just a design document. It includes a delivery framework that sets out how these ambitions are intended to be realised.

Council is explicit in acknowledging that it cannot deliver the transformation alone. Implementation will require coordination between State agencies, private developers, landowners and the community, with a mix of planning agreements, infrastructure contributions and direct delivery mechanisms used to fund and stage improvements over time.

The plan outlines a mix of short-term, medium-term and long-term actions, from immediate public domain upgrades and planning controls, through to larger-scale projects that will unfold over the next decade or more. In practical terms, the next 12 to 24 months will be the most important.

This is when the Master Plan will move through exhibition, refinement and eventual adoption. It is also the period in which Council will seek to embed the framework into its planning controls, giving it weight in the assessment of future development applications.

Council officers have indicated that once the Master Plan is in place, it could be used as a benchmark when assessing Housing Delivery Authority proposals, and potentially reduce the need for further HDA declarations within Bondi Junction. In effect, it is an attempt to bring planning control back to the local level, while still aligning with State housing targets.

That tension between State-led reform and local planning control is not unique to Waverley. It is playing out across Sydney.

&nbsp;

&nbsp;

&nbsp;

If delivered as intended, Bondi Junction will become denser, more active, and more complex. It will support more residents, more workers, and a wider range of uses, extending beyond its current retail core into a more layered urban environment.

“The civic and cultural heart of Sydney’s East”: Bondi Junction masterplan revealed

Toorak's dress circle St Georges Road, home to some of the city's priciest homes, is set for a rare new apartment development.

Blood Diamond Group, an entity tied to Tina Brandi, wife of David Brandi who has been a prolific bidder on The Block over the years, has filed plans for an ultra-exclusive development across an amalgamated 3,662 sqm site at <a href="https://www.apartments.com.au/new-apartments/104-106-st-georges-road-toorak-vic-3142">104 and 106 St Georges Road</a>.

The proposal would replace two existing homes on the riverfront site with a five-level apartment building cascading down the steeply sloping land toward the Yarra River. Designed by Charles Wright Architects, the development has been carefully shaped around the site’s topography and river environs, with the upper levels stepping back to reduce visual bulk from both St Georges Road and the Yarra corridor.

Planning documents describe the proposal as “a site layout and building typology that is consistent with the emerging character of the area and which provides exceptional amenity for future residents without compromising that of neighbouring properties.”&nbsp;

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ea19a17e-7528-4fa8-b727-05f2f7c025e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20a_0.png?VersionId=rZ2IjdoUL_UrRl1sZ4wZHnQXbYUaEmUQ" />

The scheme comprises 12 apartments, including 10 three-bedroom residences, one one-bedroom apartment, and a substantial split-level five-bedroom penthouse. A 624 sqm communal rooftop terrace will crown the building, while three undercroft levels embedded into the hillside will accommodate apartments and basement parking.

The design leverages the site’s dramatic northern outlook across the Yarra River, with living areas and balconies oriented toward the water. A central atrium running the full height of the building is intended to draw natural light deep into the residences and improve internal amenity.

Landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo Design &amp; Landscape</a> will play a major role in softening the built form, particularly along the river edge where significant setbacks have been introduced. The proposal includes a minimum 30-metre setback from the Yarra River boundary, preserving a substantial landscaped buffer between the development and the waterway.

While a mature English Oak near the front of the site is proposed for removal, the plans retain a large English Elm closer to the riverfront, alongside other established vegetation in the lower section of the property.

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ed3bf19b-5bc7-482f-bde7-41f709a13c3a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20b.png?VersionId=SG_kBGu4rOaSPY8FtVcmPJfSCrstuOfg" />

Architecturally, the building adopts strong horizontal forms with expansive glazing and curved balcony edges facing the river. Planning documents note the upper levels “adopt a receding form” to ensure the building responds appropriately to the Yarra River environs overlay controls.&nbsp;

The surrounding streetscape is characterised by large contemporary homes embedded into the hillside, many presenting as modest one or two-storey forms to the street before expanding toward the river frontage below. The planning report notes this established pattern heavily influenced the massing strategy for Toorak Pavilion.&nbsp;

Until the recent sale of the landmark Clendon Road mansion Coonac for around $130 million, St Georges Road held the state's most expensive home, the $80,000,088 derelict "Ghost House" mansion that was bought by crypto king Ed Craven.&nbsp;

Blair House, also on St Georges Road, sold for $74.5 million in 2022.

First look: Toorak Pavilions slated for dress circle St Georges Road

Six months after a development site on Kangaroo Point’s Shafston Avenue sold for $6.55 million, plans have been lodged for a 23-storey apartment tower.

A company named JMT Mega Capital, understood to be interstate investors when the 1,222 sqm double block traded late last year through Patona Property, is proposing an 84-apartment development in place of the existing low-rise buildings.

The slender tower at <a href="https://www.apartments.com.au/new-apartments/212-220-shafston-avenue-east-brisbane-qld-4169">212–220 Shafston Avenue</a>, overlooking the Brisbane River, has been designed by <a href="https://www.apartments.com.au/architects/aplus-design-group">Aplus Design Group</a>. It will comprise a mix of one-, two- and three-bedroom apartments above six basement levels, topped by rooftop resident amenities.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="7e17ba9e-553e-42ef-92b6-22081671521a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_3.png?VersionId=hlVUf99vrOjUs.vhQs0qV0DhOncUy9T8" />

The development has been designed as a vertically articulated tower with recessed balconies, curved façades and planted edges intended to soften its scale within the evolving Shafston Avenue skyline. In the submitted Urban Design Report, Aplus Design Group said the tower had been “shaped with a slender vertical expression, articulated façades, recessed balcony zones, integrated planting and a clearly defined podium relationship, helping to reduce perceived bulk and create a more elegant contribution to the Shafston Avenue streetscape and broader Kangaroo Point skyline.”

The scheme comprises 84 apartments, including 25 one-bedroom units, 34 two-bedroom apartments and 25 three-bedroom residences. A total of 104 car spaces are proposed across six basement levels, including resident, visitor and accessible parking.

Residents will have access to rooftop communal open space and shared amenities, while the development also incorporates deep planting zones and subtropical landscaping throughout the podium and tower levels. The project includes 35 per cent communal space coverage across the site and a 17.5 per cent deep soil zone allocation to support urban greening outcomes.

The application exceeds the mapped building height under the Kangaroo Point Peninsula Neighbourhood Plan and is being assessed under Brisbane City Council’s impact assessment pathway. The design team argues the additional height is supported by the site’s strategic inner-city location, existing high-density zoning, and proximity to transport and employment hubs.

“The design has been developed to make better use of a well-serviced urban site within an established high-density residential setting, while improving the street presentation and overall quality of the public realm interface,” the report states.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="1ab44b1e-ff45-4bf3-8da8-8aa0cd79db33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_10.png?VersionId=tSxeGekZOqj1e9g3PEn_yFoC3taKDp3U" />

The proposal adds to a growing pipeline of apartment developments reshaping Kangaroo Point ahead of the 2032 Brisbane Olympic Games, with demand continuing to strengthen for new housing supply in well-connected inner-city precincts.

Mosaic has nearly sold out its under-construction <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford by Mosaic</a>&nbsp;and <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a>,&nbsp;while Pikos recently completed <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye Residences</a> nearby. Pikos is also delivering <a href="https://www.apartments.com.au/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point-qld-4169">Gaia</a>, over 230 three- and four-bedroom apartments on Lambert Street.

First look: 23-storey Kangaroo Point apartment tower planned for Shafston Avenue riverfront precinct

The Rocks

The near 500 sqm in The Harrington Collection, the development in The Rocks by Golden Age Group and Hannas, has hit the market for $40 million.

The Harrington Collection consists of 58 premium apartments and terraces, as well as the 483 sqm penthouse, which spans two levels, gazing upon iconic views of the Sydney Harbour Bridge, the Opera House and Circular Quay.

The penthouse also includes its own 140 sqm private rooftop terrace. Construction on the project wrapped at the end of 2021.

[smartcode_project:default project_id=5946 project_image_fid=195399]

The sprawling penthouse features three-bedrooms, all with their own ensuite, plus a multipurpose room on the upper level with the ability to be customised as a media room, home office or fourth bedroom according to the buyer’s desire.

The living spaces are equally generous, encompassing an expansive lounge area, dining space and fireplace, kitchen complete with premium Sub-Zero and Wolf appliances and full butler’s pantry, and a private lift to carry residents up to their private entertainment space where a wet bar, barbecue, landscaped gardens and a spa awaits.

The $350 million Harrington Collection by Hannas and Golden Age Group is one of the only large scale mixed-use residential projects to have gained government approval in the precinct in the last eight years, offering buyers a vanishingly rare opportunity to secure contemporary luxury in one of the city’s most esteemed pockets.

Highland has been appointed as lead sales agents on the jaw-dropping penthouse which officially hits the market on Thursday the 14th of April.

[smartcode_project:default project_id=5946 project_image_fid=195402]

“We are very eager to open the doors to The Harrington Collection penthouse so that prospective buyers can experience first hand the level of luxury and vantage on offer,” David Highland said.

“This penthouse is the absolute pinnacle of luxury apartment living actualised among world class views. Never again will a product of this calibre be delivered to such an iconic Sydney destination, positioning the Harrington Penthouse as one of most exclusive residential addresses Sydney was ever welcomed,” he added.

Designed by international design firm FJMT, The Harrington has been influenced by the&nbsp;heritage elements of the Harrington Street site.

[smartcode_project:default project_id=5946 project_image_fid=195403]

The $350 million Harrington collection encompasses 58 one, two and three-bedroom apartments atop a ground floor collection of terrace homes delivered in two design collections – a contemporary Manhattan Soho range, and a historic collection of refurbished terraces that originally occupied the site.

A selection of the display apartments within the development have been furnished and styled by Australia’s leading interior designer, David Hicks.

“This spate of high-end apartment sales that we have facilitated really underpins the rising trend towards luxury apartments as a primary residence,” Highland added.

“When you pair premium location with the highest standard of residential design, it becomes hard to conceive a better home than The Harrington Collection penthouse. This particular address merges seclusion with connectivity in a way that few projects can offer. The Rocks is a bustling area filled with character, without the raucous nightlife. The Harrington Collection is perfectly positioned so that its residents can slip in and out of the nearby amenities in complete privacy.”

Construction on the Harrington Collection is now complete, with 75 per cent of the 58 residences already sold to a blend of local business entrepreneurs and holiday homemakers.

&nbsp;

[smartcode_project_cta: project_id=5946]

The Harrington Collection consists of 58 premium apartments and terraces, as well as the 483 sqm penthouse, which spans two levels, gazing upon iconic views of the Sydney Harbour Bridge, the Opera House and Circular Quay.

alisonwarters@gmail.com

Inside Hannas and Golden Age Group’s The Rocks’ $40 million penthouse 

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A penthouse in the Harrington Collection, the luxury off the plan development in The Rocks precinct in Sydney, has hit the market with a $39.8 million price tag.
The Harrington Collection by Hannas and Golden Age Group is one of the only residential projects to have gained government approval in the precinct in the last eight years.
Designed by Australian design studio Francis-Jones Morehen Thorp, the four-bedroom penthouse boasts a total area of 485sqm.
Of the 485 sqm, 140 sqm is a dedicated rooftop terrace with views of the Harbour Bridge and Opera House.
The apartment's kitchen features a butler's pantry and a stone island bench. 
In the apartment is a wet bar, spa, fireplace and movie room.
Laver Residential’s Dennis Vertzayias and Sam Elbanna <a href="/buildings/the-harrington-collection-75-85-harrington-street-the-rocks">are marketing the apartment</a>.
“The architectural design and quality of the finish represents a once-in-a-lifetime opportunity”, Vertzayias said.
The project includes more than 1,000sqm of commercial office space, as well as eight retail and hospitality spaces.
Both local and offshore interest is expected for the luxury residence.
The property is due for completion in mid-2021.
For the Harrington Collection brochure, click here.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Near $40 million dollar penthouse in Sydney's The Rocks listed

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It comes as no surprise that <a href="https://www.walkscore.com/AU-NSW/Sydney" target="_blank">Walk Score's list</a> rates Sydney as the most walkable large city in Australia. 
The waterfront city has also been deemed <a href="https://images.arcadis.com/media/0/C/0/%7B0C0BECF6-FA5B-49B2-B332-900D50833DEE%7DAAP_MOBILITY%20INDEX_spread.pdf?_ga=2.141593266.1201163471.1579477286-416334874.1579477286" target="_blank">the second most transit-friendly</a> in the country behind Brisbane and in-front of Melbourne. Sydney provides a wide range of transport with ferries, trains, metro and the recently welcomed light rail amongst the many options available. 
Opportunities to cycle have also risen as the city's biking infrastructure has improved in recent years. Significantly more councils have bike lanes with <a href="https://www.cityofsydney.nsw.gov.au/explore/getting-around/cycling/dockless-bike-sharing" target="_blank">stationless shared bikes</a> located and accessible across the city.
<a href="https://mobike.com/au/download" target="_blank">Mobike</a> and <a href="https://www.li.me/en-us/home">LimeBike</a> operate in multiple suburbs and can be tracked and paid on their website and app. LimeBike have, since late 2018, provided <a href="https://www.li.me/electric-assist-bike" target="_blank">electric assisted bikes</a> which has helped encourage more users. 
Sydney is also diverse, home to nearly 200 nationalities, and offers a unique cultural experience with its range of cuisine, museums, galleries, and beaches. 
These are all of metrics Walk Score takes into account when deciding the rankings for each of Sydney's neighbourhoods. Without further ado, here are the <a href="https://www.walkscore.com/AU-NSW/Sydney" target="_blank">top neighbourhoods</a>. 
<h2>1. Haymarket </h2>
Walk Score: 99 | Population: 5,365
"Haymarket is a Walker's Paradise", states Walk Score. "Daily errands do not require a car in Haymarket Sydney." 
Adjacent to Darling Harbour, Haymarket includes much of Sydney's Chinatown, Thaitown and Railway Square localities. 
<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/2020/1/20/1_HAYMARKET%20PADDYS.jpg" alt="" width="557" height="338">
Amongst the neighbourhood's many perks, the proximity of restaurants, bars and coffee shops is highly regarded. There are about eight restaurants, bars and coffee shops, and people in the area can walk to an average of two restaurants, bars and coffee shops in five minutes. 
<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/2020/1/20/2_Haymarket.jpg" alt="" width="557" height="338">
Source: WalkScore 
<h2>2. The Rocks </h2>
Walk Score: 98 | Population: 683
This neighbourhood of historic laneways in the shadow of Sydney Harbour Bridge, has a diverse cluster of people. Interaction mainly takes place at the open-air Rocks Market where street food and handmade items are sold. 
<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/2020/1/20/2_THE%20ROCKS%20MARKET.jpg" alt="" width="553" height="336">
Source: <a href="https://www.timeout.com/sydney/things-to-do/the-rocks-night-markets" target="_blank">TimeOut</a>
The Rocks is home to Sydney's oldest pubs and many upscale harbour-view restaurants. 
This hub of culture is an urban stage of buskers who perform live along the harbour front promenade. The Museum of Contemporary Art offers local and international exhibits. 
<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/2020/1/20/2_Rocks.jpg" alt="" width="555" height="337"> 
Source: WalkScore 
 
<h2>3. Sydney </h2>
Walk Score: 98 | Population: 14,287
<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/2020/1/20/3_Sydney.jpg" alt="" width="550" height="334">
Source: WalkScore 
 
<h2>4. Ultimo</h2>
Walk Score: 98 | Population: 7,106
Located in the inner-city suburb of Sydney, Ultimo is only 2 km south-west of CBD. Broadway is amongst the many attractions of the neighbourhood as well as a range of heritage listed buildings. 
The corporate headquarters and Sydney studios of the Australian Broadcasting Corporation (ABC) are located in Ultimo Centre which houses an auditorium and recording stood. TCS, NITV and Aurora are also located at Ultimo Centre. 
<img src="https://www.urban.com.au/images/2020/1/20/3_Ultimo.png" alt="" width="552" height="335">
Source: WalkScore 
 
<h2>5. Surry Hills </h2>
Walk Score: 97 | Population: 15,379
A constantly evolving area, Surry Hills is notorious for its in-trend scene and cafe culture.
Hip coffee joints, fashion boutiques and global eateries can be found in terraced houses on Crown and Cleveland streets.
<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/2020/1/20/4_SURRY%20HILLS%20CAT%20WALL.jpg" alt="" width="552" height="335">
Source: <a href="https://www.piqsels.com" target="_blank">Surry Hills Cat Wall</a>
This trendy neighbourhood is home to pubs, wine bars, galleries and the Surry Hills Library. 
There is a Surry Hills Market held once a month where street food and vintage goods can be found. 
 
<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/2020/1/20/4_Surrey%20Hills.jpg" alt="" width="553" height="336">
Source: WalkScore 
 
<h2>6. Chippendale </h2>
Walk Score: 97 | Population: 4,069
<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/2020/1/20/6_Chippendale.jpg" alt="" width="545" height="331">
Source: WalkScore 
 
Following shortly behind are the following:
<h2>7. Millers Point </h2>
Walk Score: 96 | Population: 1,742
<h2>8. Darlinghurst </h2>
Walk Score: 96 | Population: 10,096
<h2>9. Newtown</h2>
Walk Score: 95 | 14,142
<h2>10. Rushcutters Bay </h2>
Walk Score: 94 | Population: 2,378
 
 
 
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Sydney's most walkable neighbourhoods

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The New South Wales Government are selling the heritage-listed Science House in The Rocks.
They are selling it on a 99 year lease hold.
The historic seven storey property at <a href="https://www.realcommercial.com.au/property-offices-nsw-the+rocks-503277002" target="_blank">157-161 Gloucester Street</a> was designed by Peddle Thorp and Walker and built by master builders John Grant and Sons.
It is a rare example in NSW of the Interwar Commercial Palazzo architectural style.
There are three classic bands over six storeys, a sandstone ashlar coursed base at street level and a top level marked by a strong cornice and ornamented frieze to both street facades.
<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/2019/8/6/Scien%20House%20The%20Rocks%20Two.jpg" alt="">
 
The building was built in the early 1930s, opened in 1931 and awarded the Sir Sulman Medal for architectural design in 1932.
It was used by three cultural institutions up until 1976 as a centre of learning and inquiry.
The building is now 95 percent leased to a number of tenants including the New York University which occupies most of the building for its only Australian campus.
There is 2,075 sqm of office space which fully leased would generate over $911,000 per annum.
Its current 95 percent lease generates around $840,000.
CBRE selling agents Kenny Duncanson and Harry George have the listing.
 
 
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jrobinson-rf4aSBido9

Science House in The Rocks listed

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The former Rawson Institute for Seamen building has hit the market in Sydney.
The four level building at 100 George Street in The Rocks was built as a mariners' church in the 1850s.
It was a missionary effort by the Bethel Union which followed two similar sites in Darling Harbour and Circular Quay.
After initial success, the Bethel Union fell on hard times at the turn of the 20th century, and in 1895 the Church was leased to the Missions to Seamen.
Around two decades later the building was extended by Sir Harry Rawson, the former NSW Governor.
In 1981 the build became home to the Craft Council of NSW for nine years.
In 2011 it changed hands again and Bar100 took over as the tenant.
The property is currently home to Appetito Ristorante, and a number of the function rooms retain grandeur from a bygone era.
The Rawson Room has seven metre high pressed metal ceilings and sandstone walls. An 18 metre long brass bar draws focus to a marble centre piece which is shaped in a submarine fairwater.
The restored Chapel has maintained the cathedral ceiling and some of the original stain-glass windows.
Savills Australia’s David Hickey, Nick Tuxworth and Tom Tuxworth have been appointed to sell the heritage-listed building, suggesting the offering was highly exclusive.
“Vacant Sydney CBD buildings are as rare as hens’ teeth in the commercial property market so the owners have decided to take full advantage of the current market conditions and divest,” Hickey said. 
The ground floor is leased long term to Appetito Restaurant for 22 years and generates a total rental income of $614,937 per annum. 
Hickey said that buyers would have the flexibility in orchestrating multiple uses for the remaining three levels, while maximising rental 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/2018/10/16/rocks2.jpg" alt="">
“We feel the property provides a blank canvas for investors, alternative property syndicators and hotel operators, to reposition and activate the former Bar 100 into a venue or working space that the public is screaming for in The Rocks,” he said.
“The building underwent $16million worth of capital upgrades in 2010 and is fully fitted out for bar, restaurant and function centre purposes, with other options possible due to the substantial building area, including retail, office or childcare facilities.” 
Nestled at the foot of the Sydney Harbour Bridge, Mr Hickey said the building enjoyed a prominent position within close proximity of the city’s infrastructure boom.   
“The northern end of the CBD is undergoing major infrastructure works, including residential, hotel, office and retail development, which will service strong trade and significant pedestrian foot traffic,” he said.  
“About 2.7 million international and domestic overnight guests visited The Rocks in 2017 and this building occupies 23 metres of frontage across George Street and 26 metres across Circular Quay Way, positioning it to really capitalise on the passers-by.” 
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Former Rawson Institute for Seamen building in The Rocks listed through Savills

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The three level penthouse atop the Harry Seidler-designed The Cove in The Rocks has been listed for sale.
The Cove was one of the legendary architect's last Sydney residential projects.
The 2004-built skyhome, one of the largest penthouses in Sydney, has been owned by Europe-based businessman Graham Hellier, who paid $10 million in 2006 when it was sold by receivers after creditors foreclosed on the mortgage fraudster Kovelan Bangaru.
The apartment had been stripped back by aggrieved tradies who'd not been paid.
Hellier spent around $3 million refurbishing the space which comprising 485 sqm internal area and 180 sqm of terraces. 
Commanding a $7,500 a week rental in recent years, the 43rd floor glass wrapped lounge and dining zones offer 270 degrees views of the Sydney harbour backdrop. There's an imposing staircase up to four  bedrooms and a rooftop terrace with a spa pool.
McGrath Edgecliff agent Craig Donohue has the listing which has $30,000 quarterly strata levies.
Last year Magellan Asset Management executive chairman, Brett Cairns paid $7.5 million for the three bedroom sub-penthouse on the 41st floor.
This article was first published in the Weekend Australian. 
 
 
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firstname1-iYD4UYzvBa

Cove, Sydney penthouse listed for sale

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GUEST OBSERVATION
More people are becoming heavily indebted by buying rental properties and shared accommodation is flourishing, as third party tech platforms help people find a place without a real estate agent.
A new report from the Australian Housing and Urban Research Institute explains how the private rental market is changing over time for both landlords and tenants.
Over the 10 years to 2016, the number of renters grew 38% - twice the rate of household growth. More renters now are couples, or couples with children, so it seems the sector is shaking its image of unstable housing or perhaps these people are left with few other options.
Households by type, 2006 and 2016
The report analyses data from the 2016 Census, the 2013-14 Survey of Income and Housing and the 2014 Household, Income and Labour Dynamics in Australia (HILDA) Survey. It also draws on interviews conducted with 42 people involved in all aspects of the private rental sector: financing, provision, access and management.
Rental property ownership also grew. We found the number of households with an interest in a rental property grew and the number that own multiple properties grew slightly as well.
But the typical landlord is still the conventional “mum and dad” investor. Two-thirds of rental investor households have two incomes, and 39% have children.
However they are also mostly high-income and high-wealth households: 60% are in both the highest income and highest wealth bracket. Interestingly, about one in eight landlords is themselves a private renter.
Housing finance ($A), 2000 - 2016
The biggest change in ownership is in finances: owners of rental properties are relying more heavily on debt.
Financing rental properties
The people we interviewed highlighted the Australian Prudential Regulation Authorities’ (APRA) guidance to lenders on loan serviceability calculations as having the greatest impact on overall investment levels and investor decisions.
Adding to the complexity is the proliferation of intermediaries, such as mortgage brokers and wealth advisers. These advisers are telling borrowers what lenders and loan products to use to maximise their borrowing power and negotiate lender and regulator requirements.
Houses are the most commonly rented in Australia, but everywhere rental markets are moving away from this and towards dwellings like apartments.
There’s now more diversity in rental properties too. For example the building of high-rise student accommodation, “new generation boarding houses” and granny flats.
These allow landlords to house more people in the one building, increasing revenue and making management more efficient.
The informal sector of shared accommodation appears to be flourishing, like improvising shared rooms and lodging-style accommodation in apartments and houses.
Finding a rental
People have moved from finding rentals in real estate agents’ high street offices and onto online platforms. New third-parties like apps and other digital platforms offer non-cash alternative bond products, schedule property inspections, collect rents, and organise repairs.
Even though these technological innovations avoid agents, they have in fact increased their share of private rental sector management. Agents themselves are use these platforms to change their businesses, and the structure of their industry.
Our research found that revenue from an agency’s property management business (its “rent roll”) has become increasingly important. Some players in the industry are consolidating their businesses around it, to make higher profits from tech-enabled efficiencies.
However, the real estate business still depends on building personal relationships, particularly in high-end markets.
The new tech platforms of the private rental sector raise issues for tenants too, particularly in terms of the personal information they collect. For example, one of the online platform operators told us they looked forward to using applicants’ information to score or rank applicants. Another one of the new alternative bond providers uses automatic “trust scoring” of personal information to price its product.
These innovations may be convenient to use, and may give some tenants an advantage in accessing housing - but at the expense of others who are already disadvantaged.
Rental properties meeting demand?
If the private rental sector is going to meet the demand for settled housing, governments will have to intervene. This can’t be left to technological innovation, or higher income renters exercising their consumer power.
Federal or state governments could create public registers of landlords, or licensing requirements, to police landlords who are not “fit and proper” and exclude them from the sector.
There could also be stronger laws around tenancy conditions and protections for tenants against retaliatory action. The Poverty Inquiry in the 1970s set the basic model of our present laws and they haven’t changed much.
Tenants’ personal information also needs to be protected, to properly take account of the rise of the online application platforms; another is the informal sector, which is currently in a regulatory blindspot.
<img src="https://counter.theconversation.com/content/94394/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">The popular emphasis on “mum and dad” investors diminishes expectations of landlords. Rental property investment should be regarded as a business that requires skill and effort. As for-profit providers of housing services, landlords should be held to standards that ensure the right to a dignified home life.
Chris Martin, Research Fellow, City Housing, UNSW
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/wealthy-landlords-and-more-sharehousing-how-the-rental-sector-is-changing-94394" target="_blank">original article</a>.
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Wealthy landlords and more sharehousing - how the rental sector is changing: Chris Martin

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The eastern suburbs coastal couple, Channel 7 Morning Show co-host Larry Emdur and wife Sylvie have bought in the Sydney CBD.
They have secured a $3 million newly converted heritage apartment in The Rocks which suggests their sun seeking devotion to the clifftop Dover Heights lifestyle may soon come to an end.
The whispers are that they have received an unsolicited offer from someone knocking on their door at Dover Heights, and it was too good to refuse.
They have been in the pricey coastal suburb for over two decades, and at their $6.8 million clifftop mansion since 2011. They pocketed $3.89 million for their earlier home that had cost $770,000 back in 1994.  
Their new acquisition is quite a contrast as it is an inner city bolthole with an ultra contemporary fit out including a bath in the open plan bedroom. 
The couple settled on the $3.09 million apartment just before they jetted off to Italy for a break.
It is a Tanner Kibble Denton Architects designed conversion of a 1924 building that was once the Sydney depot for the Cadbury confectionary company.
The building, now transformed in to six luxury apartments known as Claremont House, was more recently utilised as the Lawson Menzies auction house.
TKD fused the original fabric of the building with a New York feel, creating the three bedroom, three bathroom apartment with much made of its exposed bricks.
Two of the three bedrooms come with en-suites not separated by a wall, just overlooked from the bed.
Ray White Double Bay agents Gavin Rubinstein and Cae Thomas sold the apartment.
Emdur has hosted Seven's The Morning Show alongside Kylie Gillies since 2007. The pair recently celebrated the show's 10th anniversary.
Emdur has been on our screens since the early 1980s when at 17 he became Australia's youngest national newsreader, presenting the overnight news for the Seven Network.
He switched to hosting gameshows after presenting Good Morning Australia. From 1993 he hosted The Price is Right for five years and returned to the show in 2003 and again in 2012.
Emdur, who grew up near the beach at Bondi, has been a keen surfer all his life. His outdoor's fitness pursuit well documented on his Instagram.
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Larry Emdur secures apartment in The Rocks

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Peter Campbell, the Clarendon Homes founder, and wife Catherine have paid $12 million for a penthouse in The Rocks.
It ranks as the sixth most expensive apartment sold in the last financial year. It has quintessential Sydney postcard views across Campbells Cove to the Opera House and up towards the Harbour Bridge.
The Hickson Road apartment has a stellar provenance having first been owned by the late McDonald's chief Charlie Bell.
Bell spent $8,525,000 in 2003 after its refurbishment of the 1912 Metcalfe Bond building by Nettleton Tribe Architects for Tjeerd la Grouw's Amstal Property Group.
Qantas chief Geoff Dixon was another past owner though he sold it at a loss in 2014 for $7.45 million.
Set in the 1912 Metcalfe Bond building, the two level apartment has three bedroom and spans 328 sqm.
The two most expensive established apartments to sell in last financial year were both secured off market by downsizers.
The former Sydney Lord Mayor Nelson Meers and his wife Carole paid $16 million for a Point Piper whole floor apartment in the Alex Popov designed harbour front Buckhurst Avenue block.
Last traded for $11.6 million when new in 2011, the unit came with four bedrooms, three bathrooms and a temperature-controlled wine cellar.
LJ Hooker agent Bill Malouf handled the sale.
The couple had downsized from Bayview where they sold their five bedroom Tuscan style villa for $4.55 million last year.
Businessman Stephen Johns, most known for being the longtime chairman at Brambles, bought the Darling Point apartment of Silicon Valley software billionaire David Doyle.
Set in the Burley Katon Halliday block, the four bedroom penthouse comprises 456 sqm of internal space, 103 sqm of terraces and a 12 sqm rooftop garden.
It has a private gym, study, maids suite, home theatre and large terrace which takes in views of the Harbour Bridge.
Doyle, a software pioneer and backer of Neil Perry's Rockpool Bar &amp; Grill, paid $7.1 million for the lavish New Beach Road spread in 2000, a record breaking apartment sale in Sydney's eastern suburbs at the time.
Like the Meers, Johns has also downsized.
He and wife Michele Bender are waiting for a buyer for their long-held Bellevue Hill trophy Belhaven which has price hopes of between $25 million and $27 million.
The third most expensive apartment came in August last year when Rocco Lagudi and wife Frances, paid $13.5 million for a Point Piper apartment.
Aussie John Symond sold his Point Piper penthouse for $13.3 million, with a caveat lodged by Angela Teplitsky, wife of property developer Michael Teplitsky.
Ferrari Australasia chief executive Herbert Appleroth sold his harbourfront apartment in Pyrmont for more than $13 million, making it the fifth most expensive sale this financial year.
The five bedroom, four bathroom apartment amalgamation had been inspected by Hollywood star Leonardo DiCaprio in 2011 as a possible rental while he was shooting Baz Luhrmann’s The Great Gatsby. 
The top six sales of established units totalled over $80 million.
The top off the plan sales were considerably pricier, with two apartments in the new Circular Quay development the Opera Residences fetching $26 million and $27 million.
The third most expensive was a $17 million apartment in another off the plan Circular Quay development, Loftus Lane.
This article first appeared in the Daily Telegraph.
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jchancellor-FAypfDUnLy

$12 million paid for The Rocks penthouse

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Sydney's Pancakes on The Rocks are set to move to a new location at the top of The Rocks Centre on Argyle St as part of a $15 million NSW government initiative to renew and revitalise heritage retail tenancies.
Refurbishment works at The Rocks Centre include floors, ceilings, lighting and shopfronts with Pancakes on The Rocks eventually located on the upper level.
Dominic Perrottet, minister for finance, services and property said the government wants The Rocks to be a heritage precinct with great food experiences, contemporary shopping, and an atmosphere that keeps you coming back.
“Looking around the world, there are some fantastic, creative ways that heritage buildings are used as contemporary retail spaces, and this refurbishment program will help our retailers take The Rocks to that world-class level,” he said.
Other heritage shopfronts nearby will be refurbished including George Street retail spaces, as well as the Metcalfe Bond Stores. 
New tenants to The Rocks include Deciem, 7 RocksDeli, Cosmopolitan Jewelers, ATTY Design and Endeavour  Beer all set to move in, adding to a slew of recent arrivals over the last year, including Aesop, Uashmama, Ribs and Burgers, El Camino, Cosette and Gelatissimo.
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