After posting losses in 16 of the past 18 quarters, Opendoor implemented the latest in a string of layoffs on Wednesday, primarily on the iBuyer’s sales side, Inman has learned exclusively.
Sam and Snezana Wood’s architect-designed Elsternwick home is back on the market with a $6.6m price guide, offering resort-style luxury and designer detail across a reimagined heritage footprint.
Sam and Snezana Wood’s spectacular Elsternwick home has hit the market again, with a $6.6m price guide.
The five-bedroom, five-bathroom property is poised for a full listing relaunch in coming weeks.
The couple, who rose to fame on The Bachelor in 2015 and have since built a national lifestyle and wellness brand, purchased the home for $3.31m in 2018.
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What followed was a meticulous, years-long renovation with the help of Castley McCrimmon Architects.
From its beautifully restored Victorian facade to a soaring arched hallway, 3.7 metre ceilings and gallery-like interiors, every inch of the home has been crafted for form and function. Expansive, north-facing living areas flow seamlessly outdoors to a 15 metre gas and solar-heated lap pool, framed by Ironbark timber decking, encaustic tiles, and lush mature gardens. There’s also an alfresco shower and a fifth toilet — subtle nods to the home’s retreat-like lifestyle.
Sam and Snezana Woodand their kids Eve, Willow and Charlie. Picture: Jason Edwards
DOW Real Estate managing director Taylor Dow said it’s the kind of home that stops buyers.
“You walk in, and it’s a series of wow moments, the scale, the finishes, the calm that it carries,” Mr Dow said.
“There’s a soul to it that’s rare.”
The kitchen is a showpiece in itself, finished in Carrara marble with a full butler’s pantry, and fitted with high-end appliances.
A luxe fireplace warms the open-plan living space, while architectural steel-framed doors offer sightlines from lounge to lawn.
The black Carrara marble kitchen features Smeg, Miele and Liebherr appliances, a butler’s pantry, and opens to a north-facing alfresco zone, a true entertainer’s dream.
A soundproof, sunlit gym with treetop views and a built-in sauna brings wellness and luxury together — one of many bespoke inclusions in the $6.6m Elsternwick home.
Upstairs, a sun-drenched gym and sauna overlook the treetops.
A children’s wing with pocket doors and custom joinery, a guest suite with ensuite, and a park-facing main bedroom with a marble ensuite and dressing room complete the flexible family layout.
Originally built in 1900, the home was previously listed under Whitefox but didn’t sell.
Since then, it’s undergone a strategic reset, now offered off-market while a full-scale campaign is readied behind the scenes.
“We’re taking a very deliberate approach,” Mr Dow said.
“This isn’t a home you rush through. The level of detail demands time, and the buyers we’re working with want to appreciate that.”
The 15m solar and gas heated lap pool is framed by Ironbark decking, encaustic tiling and lush gardens, creating a private backyard oasis ideal for family living and entertaining.
Mr Dow said early interest had already been strong.
“There are a lot of prestige homes on the market, but not many that feel like this,” he said.
“You can tell every decision came from a place of care, and that’s what buyers connect with.”
Sam Wood remains active in the fitness space after selling his platform “28 by Sam Wood” for $71m in 2022, while Snezana has recently turned her attention to fashion, launching a jewellery collection in collaboration with Shannakian Fine Jewellery.
Now, the couple’s dream home is ready for its next chapter, and the right buyer.
Private inspections are underway. The relaunch is coming soon.
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Heaters in Aussies are often ineffective because of a key mistake users make.
Icy mornings across much of the country in recent days have delivered a reminder to many Aussies that no matter how much they blast their heaters, warmth never seems to stay for long.
Housing experts have revealed that this chill isn’t just down to the weather — it’s a design flaw baked into the way Australian homes have been built for decades.
And it means that most households are using heaters in an inefficient way that’s sending their power bills through the roof – without doing an adequate job of keeping the interior warm.
A common problem is that heaters are being used in rooms that lack insulation and are too open and too large for the heater to deliver any meaningful feeling of extra warmth.
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Warmth often dissipates after heating is turned off because Aussie homes are poorly insulated.
Dr Sarah Robertson, research fellow at the RMIT University Centre for Urban Research said most Australian homes were simply never designed with winter comfort in mind.
“We have work to do to improve the energy efficiency of our housing stock,” she said.
Previous energy prices had played a part in promoting a housing climate where poor insulation was common, Dr Robertson added.
“We didn’t have the pressure of high energy prices for a long time, until more recently when the costs went up markedly.
“There wasn’t that pressure to look at energy efficiency because energy was more affordable.”
She added that a key factor in why Aussie homes were often colder than those in chillier countries was that energy efficiency has never been a top priority in residential building standards.
“Our homes tend to lose warm air through poorly sealed windows and doors, and lack the basic insulation needed to retain heat,” Dr Robertson said. “That makes heating expensive and inefficient.”
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Heaters are best used in closed off rooms.
Even newer homes — some equipped with modern heating systems — struggle to perform.
Large open-plan designs and limited zoning controls often mean residents are forced to heat the entire house rather than a single room, driving up costs while also minimising heater effectiveness.
Australian energy regulations have improved over time, but housing researchers claim the standards are still far behind comparable nations.
Dr Nicola Willand of the RMIT University School of Property, Construction and Project Management has previously noted that Aussie regulatory standards reinforced heating levels that were below par.
Homes in North America and Europe — even in comparable climates — are more than 50 per cent more efficient when it comes to heating and cooling.
The average overseas home exceeds a seven-star energy rating, while most Australian homes still lag well behind that benchmark, even after almost two decades of awareness.
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The National Nationwide House Energy Rating Scheme, which governs home energy star ratings for new dwellings, assumes living room heaters are switched off between midnight and 7am.
The problem is that this warmth dissipates quickly in most Aussie homes because of the poor insulation, resulting in cold living areas.
The scheme also assumes a heating thermostat setting in bedrooms of 15 degrees between midnight and 7am – lower than the 18 degrees recommended by the World Health Organisation.
“(These) assumptions suggest that being cold at 7am, when most of us are getting ready for work and school, is acceptable,” Dr Willand said.
“By contrast, energy efficiency ratings in other countries will assume heating in all rooms and at all hours of the day and night.”
Poor thermal design is only part of the problem. Many Aussies remain unaware of the health risks of cold indoor air, including respiratory illness, cardiovascular stress, and the spread of mould.
Retrofits – including proper ceiling insulation, draught sealing, window upgrades, and thermal assessments – are now being recommended. Many states offer rebates to help with the cost, but take-up remains modest.
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High-end properties in this exclusive enclave of the Gold Coast rarely come to market — and this one has done so almost by accident.
It’s not often that a family finds their perfect block of land, builds their forever home and then, within 18 months, lists that dream for sale — without any hint of a death or divorce.
But owner Kate Hardy says the unexpected happened: her family simply fell in love — with somewhere else.
And so it is by chance that 51 Beverley Crescent, Broadbeach Waters is now available for a new family.
“We found a block of land that has come up. It’s definitely thrown a spanner in the works,” Ms Hardy said.
“Our home will probably be one of the first to come on the market at this calibre in the Golden Triangle.”
The five-bedroom, five-bathroom home is a showstopper, but it’s the spectacular location that sets this property apart.
Most properties in Broadbeach Waters are adjacent to or very close to man-made canals, a design of developers in the 1950s who’d been inspired by the Florida Keys.
Facing rear north, this home resides on a broad and deep stretch of water, and boasts breathtaking views of expansive waterways framed by the Gold Coast city skyline.
Agent Kurt Reid at John Reid Real Estate said the water here was wider than most other areas of Broadbeach Waters.
“You’re only capped by one bridge, the Monaco Street Bridge, which is much higher than other bridges so you can moor a much bigger boat here.
“And at 749sqm, this block is considerably larger than the typical size for the area, which is around 550sqm.”
Mr Reid said because homes of this standard in this exclusive enclave are so tightly held, offering a guide price was tricky.
“These properties are typically designed for the owners to live in long-term. It’s a rare opportunity, and my phone hasn’t stopped since the property was listed.”
The newly completed Hamptons-style estate, built on a concrete slab, reveals high coffered ceilings and bespoke interiors across three expansive levels.
The ground floor reveals an open plan living and dining area flanked by a Calacatta marble kitchen with butler’s pantry. There’s also an office opening to a patio, a sitting room and spacious guest quarters with ensuite.
Upstairs, there are four more ensuite bedrooms, the master with a huge dressing room and private balcony, plus a separate media room.
The basement, a rarity in the area, houses a 10-car garage with turntable, a wine store, powder room, gym and sauna — along with a hydraulic lift accessessing each level.
The property opens to a divine entertaining alfresco, a covered outdoor kitchen and day beds overlooking an infinity-edge magnesium pool, landscaped gardens, a sandy beach and a private pontoon.
Additional features include Gaggenau and Liebherr appliances, a Vintec wine fridge, a gas fireplace in the living area and an electric fireplace in the master suite, a dog wash station, a powder room on each level, a laundry chute, and Sonos sound system.
Ms Hardy said while her home is moments from the beach and all amenities, it’s also supremely peaceful.
“You’re in the heart of Broadbeach, yet it’s beautifully quiet, which is why we prefer the canal to the main river.
“And the property just has a very homely feel — and being purpose-built for a family, everyone has their own space.”
Mr Reid said the property was attracting huge interest from families and professional couples.
“In these prime locations, whether it’s a raw or a meticulously finished product, there are plenty of buyers; the market’s really buoyant.”
Over the past 12 months, the median price for houses in Broadbeach Waters has surged by 11.9% to $2.35 million.
And this one truly stands out from the crowd, Mr Reid added.
“No expense has been spared; this property has been done perfectly — and that transcends to buyers falling in love.”
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Two friends from Western Australia have struck gold, pocketing more than $160,000 after discovering large nuggets during a prospecting mission.
Amalgamated Prospectors and Leaseholders Association of Western Australia President James Allison told the Kalgoorlie Miner the two men uncovered the treasure at Sandstone, a small town some 400km northwest of Kalgoorlie-Boulder.
Mr Allison said the two men, who had been prospecting for decades, came across a one-ounce nugget worth more than $5000.
Later that day, the pair hit the jackpot again when their detector picked up a second sound.
The men dug up and unearthed another piece weighing 895 grams, worth a whopping $161,000, according to the Perth Mint spot price as of June.
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Victoria is on the cusp of a whole new gold rush.
Victoria is also on the cusp of a whole new gold rush, with bush blocks where owners have found the odd nugget becoming hot property.
Towns across the state’s former gold fields, and especially in the golden triangle bounded by Bendigo, Ballarat and Wedderburn, have wannabe prospectors hunting for cheap land to hunt for the valuable mineral.
With the price of gold surging over the past decade the leading lobby group believes more and more people will be looking to stake a claim to an alluvial address.
Prospectors and Mining Association of Victoria President Jason Cornish said more people had begun looking to buy a cheap bush block amid fears the state government would turn Crown land — where prospecting is currently legal — into national parks, where it is not.
Two friends from Western Australia have struck gold, pocketing more than $160,000. Picture: Kalgoorlie Miner/Facebook
Stockdale & Leggo Bendigo Sales Manager Grant Hosking said he was seeing good numbers of retirees relocating from Melbourne to take up a prospecting hobby in their golden years.
Buyers have been homing in on blocks anywhere from 4ha to 40ha.
“In Wedderburn, property has never sold that quick, but we are selling them very, very quickly at the moment — and getting good prices for them,” Mr Hosking said.
“And most of it is weekenders and hobby prospectors.”
Bush blocks with water features, even dried out waterways, can provide good sources of gold.
A map of where gold is likely to be found and which states have greater sources of gold. Picture: Australian Government Geoscience Australia
The Australian Government Geoscience Australia website shows a map of where gold is likely to be found and which states have greater sources of gold.
It says gold is mostly found in rocks, and WA accounted for 60 per cent of Australia’s gold discoveries.
Primary deposits, where miners target, were in Kalgoorlie in the Super Pit, Granny Smith, St Ives, Norseman and Mount Magnet all in WA, Gympie and Ravenswood Qld, Callie NT, Stawell Vic, Cadia NSW, Henty Tas and Challenger in SA.
Gold is also found in Olympic Dam, SA – the area is mined with copper and uranium.
“Mostly, gold is spread throughout the rocks and soil around us but in such low amounts that it’s not worthwhile trying to get it out,” the website said.
“However, there are some places where there is enough gold to make it economic to mine.”
— Additional reporting by Nathan Mawby
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Walter White’s house in “Breaking Bad.” Picture: Steve Snowden/Getty Images
There’s a new villain living in Walter White’s house.
The real-life owner of the famous “Breaking Bad” home has had enough of fan visits and reached her own breaking point.
Joanne Quintana grew up in the ranch-style property in Albuquerque, New Mexico, during the filming of the series which aired from 2008 to 2013, the New York Post reports.
After years of dealing with trespassers and fans of the show flocking to take pictures of the iconic house, Ms Quintana is taking matters into her own hands.
Joanne Quintana spraying fans outside the “Breaking Bad” house. Picture: Instagram/santi.s._
Bryan Cranston (left) and Aaron Paul in TV series “Breaking Bad”.
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Influencer Santi, who has over 174,000 Instagram followers, went to Ms Quintana’s home for a day and witnessed what she has to deal with.
In his viral clip, Santi filmed Ms Quintana spraying fans on the street with her water hose, as she demanded they stay away from her property.
While sitting on a chair in her front yard, Quintana asked one fan, “Have you seen anything but ‘Breaking Bad’ stuff since you’ve been here?”
“You can take a picture from that corner, do not get close,” she continued. “And no tripods, no nothing. One picture then you go.”
When one visitor approached Ms Quintana’s property, she told him, “back up, cowboy.”
Another visitor told Ms Quintana that he was a fan of the Emmy Award-winning show, to which she replied, “the whole world is a fan, doesn’t impress me.”
Joanne Quintana yelling at fans to get off her property. Picture: Instagram/santi.s._
Santi’s video of Ms Quintana went viral with nearly three million views, as fans weighed in on Ms Quintana’s behaviour.
“She just sits there all day and tells people how stupid they are lol,” one fan wrote.
“If she was smart she’d start charging,” another person said.
Someone else pointed out, “the street and sidewalk are public property.”
Other fans suggested Ms Quintana should Airbnb her house to make money.
In January, Ms Quintana listed her home for $US4 million ($A6.1 million) as she grew frustrated with fans of the show gawking at her property.
Walter White, played by Bryan Cranston, his wife Skylar and their son Walt Jr. famously lived in the home in the series.
Ms Quintana told local news outlet KOB that she initially considered the filming a “once in a lifetime thing” that allowed her and her family to witness “the magic of Hollywood,” which included interacting with the entire cast and crew.
Joanne Quintana grew up in the ranch-style home in Albuquerque, New Mexico, and she’s had enough of fans flocking to the home. Picture: KOB4
Quintana has erected a fence around the home. Picture: KOB4
But eventually Ms Quintana and her family dealt with strangers constantly visiting the property.
On one occasion, a package for “Walter White” showed up at the home at 4.30am, leading the Quintanas to call the bomb squad out of concern for their safety.
They also put up a fence — but that did not deter television nerds from showing up to the home.
Some fans even tossed full pizza pies on the roof of the house’s garage in an homage to a classic scene from the show, but they were reprimanded by “Breaking Bad” creator Vince Gilligan on the “Better Call Saul” podcast back in 2022.
“There is nothing original, or funny, or cool, about throwing a pizza on this lady’s roof,” Gilligan said at the time.
“She is the sweetest lady in the world, and if you are getting on her nerves you are doing something seriously f**king wrong,” he added about Ms Quintana.
Parts of this story first appeared in the New York Post and was republished with permission.
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In a significant move amid his ongoing divorce, Hugh Jackman has listed his luxurious New York City penthouse for a staggering $60 million (US$38.9 million).
This decision comes shortly after he and his former spouse, Deborra-Lee Furness, agreed to divide the proceeds from the property.
The couple originally acquired the opulent residence in 2008 for $32 million (US$21million).
Over recent years, they opted to lease the penthouse, commanding a rental price of $19,200 (US$125,000) per month.
However, following their announcement in September 2023 that their nearly three-decade-long marriage had ended, Furness filed for divorce in May 2025.
Legal documents reveal that the divorce terms are uncontested, requiring only judicial approval to be finalised.
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Hugh Jackman and Deborra-Lee Furness have put their New York City penthouse on the market for $60 million amid their ongoing divorce. Realtor.com
The home comes with spectacular views. Source: realtor.com
On June 5, it was disclosed that the couple had initiated the division of their shared assets, including the penthouse in Manhattan’s Chelsea neighbourhood.
While the Chelsea property awaits listing, Jackman and Furness are proceeding with the sale of the five-bedroom, New York City penthouse.
This residence spans three floors and offers 11,000 square feet of living space.
It features a dramatic double-height great room with expansive windows, a private workout studio, a luxurious sauna, and a library.
The former couple purchased the dwelling in 2008. Source: realtor.com
For the past two years, the dwelling has been rented out. Realtor.com
Designed by the renowned architect Richard Meier, the penthouse is heralded as a “modernist masterpiece” with breathtaking views of the Hudson River.
The couple previously attempted to sell the property in 2022 at the same price but opted to rent it out in 2023 instead.
The timing of the listing coincides with reports from Australian publication New Idea, suggesting that Jackman and actor Sutton Foster have moved into one of his New York penthouses.
An anonymous source claimed Furness was upset about another woman residing in a home she cherished.
Jackman’s current residence remains unspecified, but he has been based in Manhattan for the past six months, performing live shows at Radio City Music Hall.
Furness and Jackman confirmed in September 2023 that they were splitting after nearly 30 years of marriage. Gotham/GC Images
Jackman has since moved on with his former Broadway co-star, Sutton Foster. Dia Dipasupil/Getty Images
Furness has not publicly addressed Jackman’s relationship with Foster but expressed feelings of betrayal in a statement to the Daily Mail following her divorce filing.
“My heart and compassion go out to everyone who has traversed the traumatic journey of betrayal. It’s a profound wound that cuts deep, however, I believe in a higher power and that God/the universe, whatever you relate to as your guidance, is always working FOR us,” she stated.
“This belief has helped me navigate the breakdown of an almost three-decade marriage. I have gained much knowledge and wisdom through this experience. Even when we are presented with apparent adversity, it is leading us to our greatest good, our true purpose.
“It can hurt, but in the long run, returning to yourself and living within your own integrity, values and boundaries is liberation and freedom.”
Beyond their New York properties, Jackman and Furness also own a 2.5-acre estate in East Hampton, NY, purchased for $5.4m (US$3.5 million) in 2015, according to realtor.com.
The property, which underwent extensive renovations, features three bedrooms, five bathrooms, a guesthouse, and a stunning swimming pool.
The couple own a $12m apartment in Sydney, which they purchased for $5.9 million in 2015.
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Agents’ bizarre tactic to sell Melb home. Picture: Supplied
Two Melbourne real estate agents are going the extra mile to steer buyers towards a house with an out-of-the box listing video showcasing a Spanish matador character battling a bull.
BigginScott Glen Waverley director Ming Xu, along with his colleague Eric Liu, are managing the advertising campaign for 2 Callaghan Ave, Glen Waverley, that’s for sale with $1.7m-$1.8m price hopes.
Taking inspiration from the five-bedroom home’s Spanish Mission-style facade, the agents donned matador and bull costumes for the clip.
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Dressed as the bull, Ms Xu chases Mr Liu and other colleagues they recruited for the filming through the residence.
The matador eventually defeats the bull with a fake sword before everyone involved enjoys a tasty beef dinner at the house.
Mr Xu has made other creative listing videos in the past, including one voiced by Hollywood actor Liam Neeson.
Earlier this year, Mr Xu had the listing for a Mulgrave house owned by an assistant director’s family who know Neeson.
They recruited him to star in their home’s online advertising clip, a humorous tribute to the Taken film franchise.
The Spanish Mission-style facade and a balcony that looks out to a nearby lake.
BigginScott Glen Waverley partner Eric Liu stars as the brave matador in the video, that was put together by Melbourne-based production company Wind-Up Media.
There are plans to auction the home, at a yet-to-be-set future date.
Mr Xu said it took about two hours to film the Glen Waverley video.
“It’s good fun, I think I told Eric, ‘I’m going to be the bull’, Mr Xu said.
“It did not take much convincing for him to be the matador.”
The video’s aim was to showcase the house’s Mediterranean-inspired build which Mr Xu described as a standout among Glen Waverley’s many French Provincial-esque homes.
A Bayside-based builder constructed the residence, featuring a formal lounge room, rumpus room, lake views from the upstairs balcony and entertainer’s deck, about 19 years ago.
The kitchen is fitted with stone benches, an insinkerator, Electrolux oven, DeLonghi gas stove, Miele dishwasher and breakfast bench.
A cast member tosses their red coat to Mr Liu, who waves it at the bull.
The house is close to shopping centres, the Monash Aquatic Centre, Syndal train station and the Monash Freeway.
Enjoy a delicious meal – maybe some tapas – in the dining area.
A tiled dining area boasts a bay window with plantation shutters, while multiple sets of sliding doors provide access to the garden where there’s a lemon tree and magnolia border trees.
The main bedroom suite has double-glazed windows, a walk-in wardrobe and dual vanity spa ensuite.
Other highlights include a powder room, laundry, solar panels, video intercom and a double garage with internal access.
The house falls within the Brentwood Secondary College zone and is close to schools, Monash University, sports facilities, shopping centres and public transport.
The house will be auctioned at 3pm on July 5.
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Michael and Natalie Ajaje pictured inside ‘Mosman’, the home they have just completed and listed for sale in Bulimba. Picture: Josh Woning
Anyone wanting to take a peek inside two of Brisbane’s most luxurious new builds will have their one chance this Saturday.
‘Palma by Graya’ in Ascot and ‘Mosman’ in Bulimba have been listed for sale and each will have just a single, one-hour inspection on Saturday, June 14, after racking up thousands of views online.
‘Palma’ will be open from 11.15am on Saturday, while ‘Mosman’ will be open from 1pm.
Both properties were designed by architect Tim Stewart with ‘Mosman’ developed by Michael and Natalie Ajaje of FBI Interiors constructed by McBryde Builders, while ‘Palma’ was a collaboration between Graya and Purdy Developments.
On the market through Heath Williams of Place New Farm, ‘Palma’ is built into a sloping block and has 694 sqm of living spread across three levels with five bedrooms, a six-car garage, a wine cellar and city views.
‘Mosman’ is for sale through Sarah Hackett of Place New Farm and has five bedrooms, a wine cellar with custom roulette table, a yoga studio and an eight-car garage with Ferrari mural.
‘Palma’ at 29 Towers St, Ascot. Picture: Supplied
‘Mosman’ at 23 Henderson Street, Bulimba. Picture: Supplied
Ms Hackett said unusually, the Bulimba home was being sold not only turnkey but also completely furnished.
“Someone is going to save years of their life and most likely money by buying this home,” she said.
“At this price point, the buyers are usually working mums and dads who are time poor.
“Not only has the hard work already been done (at ‘Mosman’), but they have ticked every box and got it just right.”
Ms Hackett said Saturday’s open home was sure to draw interest from anyone wanting to see behind the striking facade of ‘Mosman’.
“It’s hard to not have a reaction when you go through this home,” she said.
“The ceiling heights are enormous, the staircase was craned in and finished in venetian plaster, the master bedroom is as big as an apartment we’re selling in New Farm, and the roulette table in the wine cellar is Casino-grade.”
The main living area inside ‘Mosman’ features a statement staircase. Picture: Supplied
The wine cellar includes a custom made roulette table. Picture: Supplied
‘Mosman’ owner and developer, Michael Ajaje said he and his wife set out to create the ultimate family entertainer with a beach club vibe after several other successful builds.
“We took the best of what we’ve learnt and seen over the years and put everything into this home,” he said.
The couple, who own FBI Interiors, built and decorated the property like it was their forever home.
“We wanted to show the locals, our customers and the people of Brisbane what can be achieved,” Mr Ajaje said
“This is the biggest and best we’ve done so far.”
Mr Ajaje said his favourite part of the home was the open plan kitchen and living space with curved staircase and seven arch windows, while the master suite was also a showstopper.
“The master walk-in is like a high end Prada shop with beautiful glass cabinetry … and the concrete bathtub and curved wall in the ensuite is definitely the star of the bathroom,” he said.
“We used lots of venetian plaster and microcement to create a European style that feels very suited to Queensland.”
The main ensuite in ‘Mosman’ has a circular bathtub sitting under a skylight. Picture: Supplied
‘Mosman’ was created with a beach club vibe. Picture: Supplied
‘Palma’ marketing agent, Mr Williams said this weekend’s open home was the first time for him at this price point.
“I sold ‘Larc by Graya’, which was strictly by appointment for pre-approved buyers as it was a private residence, and we had just four groups through,” he said.
“(‘Palma’) is one of those rare opportunities where a brand new build of this calibre has come to the market.
“So, we negotiated one open home and the rest by appointment only.”
Mr Williams said an in-person inspection would allow people to appreciate the privacy, position and northerly aspect of the home, as well as the scale and balance of the interiors.
“There has been a lot of intention put into making the floorplan work,” he said.
“The joinery in the kitchen goes up 3m and that void, though it could have been a negative, it is balanced quiet perfectly, and the sculptural staircase isn’t overpowering.
“This could be a big family home but also could be a downsizer home.”
Inside ‘Palma’ at 29 Towers St, Ascot. Picture: Supplied
‘Palma’ has a private, elevated position in Ascot. Picture: Supplied
Craig Purdy of Purdy Developments said Ascot property was a nod to the Mallorca capital of Palma.
“The topography on the island leans toward luxury residences built into the side of the hills, which are also elevated to provide stunning views,” Mr Purdy said.
Like the luxury home of Mallorca, ‘Palma’ was designed to make use of its elevated city position.
“It is always our preference to have basements at street level in order to have the living levels elevated to capture summer breezes and the sun in winter,” Mr Purdy said.
Mr Purdy said visitors to the open home should take time to admire the curved staircase and the use of robust materials featured throughout the home.
“The staircase a piece of art in its own right,” he said.
“This is the first time we’ve done a curved staircase across three levels.”
The statement staircase connects all three levels. Picture: Supplied
The view from one of five bathrooms in ‘Palma’. Picture: Supplied
Mr Purdy said the team behind ‘Palma’ was proud to show the finished product not only to the community, but to the construction industry.
“Often the engineers, the town planners, the certifiers, they work on projects and never get to see them when they’re finished, yet they’re so intrinsic to building the building,” he said.
Mr Purdy said the open home was also an opportunity for the public to find inspiration for their own homes.
“In our early days that’s what my wife and I did,” he said.
“We went to see products we aspired to, and worked out how to put that into our residence.
“It might an element in the kitchen or in the butler’s pantry or a design element in the ensuite – you can capture those and find a way to build that within your budget.”
‘Palma’ at 29 Towers St, Ascot, will be open for an hour from 11.15am on Saturday, June 14
‘Mosman’ at 23 Henderson St, Bulimba, will be open from 1pm on Saturday, June 14.
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The 56-storey, 263m Salesforce Tower is Sydney’s tallest commercial building
Chinese giant Ping An Real Estate is again readying to sell off a half stake in the Sydney Place development at the city’s Circular Quay, which is worth about $1.8bn in total.
The interest in the complex, which is anchored by Salesforce Tower, the city’s tallest office tower, is expected to be chased by global players who are betting the top end of the market is improving.
The Chinese group has tapped agents for advice on a prospective sale that would see it exit its $900m interest in the tower, which it holds alongside Japanese groups and a fund managed by developer Lendlease.
The move comes after Japanese investment manager MEC Global Partners Asia finalised a move to take an interest of just over 10 per cent in the landmark complex. The MEC Global Partners Asia deal was seen as a key marker for premium office values as the cycle shows signs of recovery.
It was struck in the mid-5 per cent yield range, giving investors confidence in the value of premium towers in Sydney. The buyer raised funds from a collection of Asian investors, including Japan’s Odakyu Electric Railway Co.
The 56-storey, 263m Salesforce Tower is Sydney’s tallest commercial building.
They were keen to buy into the tower after MEC’s sister company Mitsubishi Estate Asia put a 30 per cent interest in the tower up for sale last year. Both MEA and Ping An backed the development of the skyscraper by Lendlease in 2016 and have sought to exit after it was completed.
The Chinese group first brought its half stake in the Sydney Place development to market in early 2023. But that process was hit by the rapid jumps in interest rates that crunched office values. But big investors are now betting that the prime end of the market will pick up, particularly as leasing at the top end improves.
Ping An’s move comes as the exodus of Chinese capital from major real estate investments around the country continues, with both passive office holdings and apartment developments being sold off.
Developer Billbergia Group and private credit house Metrics Credit Partners last year snapped up a site for a $3bn luxury apartment and hotel project from Han’s Holdings Group that will overlook Hyde Park in the heart of Sydney.
Lendlease is also making a play for another luxury development site on Hyde Park, which is being sold by a Chinese player. It is working with MEA on a move to buy into 175 Liverpool Street, which is owned by interests associated with Chinese-Australian billionaire Hui Wing Mao.
Ping An is offering up a more traditional real estate investment, as the passive stake in the office tower will deliver more certain returns. There have already been earlier trades in the Sydney Place project.
Developer Lendlease in 2022 sold a 20 per cent stake in the complex to its Australian Prime Property Fund Commercial vehicle in 2022 when the overall project was worth about $2.2bn. All investors hold the asset in a fund managed by Lendlease, The manager runs top towers, including Sydney’s Aurora Place, but this may influence the pricing on the stake.
Big office deals are getting done as the cycle turns.
Property group Investa is finalising a deal to acquire US private equity group Blackstone’s 75 per cent interest in the landmark Grosvenor Place for about $1.4bn. The local platform, which is part-owned by Oxford Properties, has tapped US group BGO and its own office fund to back the purchase, and a deal is expected to be wrapped up this month.
The 55-storey Salesforce Tower, designed by international architects Foster + Partners, has a Platinum WELL Shell and Core rating and the Green Building Council of Australia’s Design & As Built 6-Star Green Star rating. As well as the anchor US tech tenant, the development also houses Greenhouse, the tech-focused growth hub from Investible, Wellington Management, The Executive Centre and JLL.
Leasing markets are tightening and the next wave of super-towers is not due to come online until the next decade, with rival projects by Lendlease and Dexus still in planning. Two towers above a new Hunter Street city metro station are also unlikely to be delivered before 2034, with a consortium of Mirvac, Lendlease and billionaire Justin Hemmes the only runners left in that race after Brookfield pulled out.
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