Zac Homes boss lists $7.5m beachfront penthouse
A Western Sydney project home builder who splashed $7.5m on a newly built beachfront penthouse is the first owner to cash out of the boutique Gold Coast building.
Zac Homes founder Peter Zaccazan purchased one of seven luxury sky homes in the Palm Beach tower, moving his family to Queensland during a surge in interstate migration post-Covid.
The three-bedroom, two-bathroom apartment at 7/15 Jefferson Lane is listed for sale with Josh Willatt and Taylor Davis, of McGrath Estate Agents Palm Beach.
It is marketed without a price guide via an expressions of interest campaign, with the unit the first resale within the 2021 development by Kazumi Nakagawa and Jason Kennedy.
'The owner paid a pretty strong number for the property at the time, but when people come through they realise this one is really special, and nothing of this calibre has come to market in Palm Beach since,' Mr Willatt said.
Features included spectacular ocean views and 532 sqm of living space over a full floor and private rooftop entertaining zone with a heated pool.
'This high-end penthouse is the pinnacle of luxury with an outstanding floor plan with French oak flooring and 3m high ceilings, marble and stone throughout.'
The property had served as a 'Covid escape' for Mr Zaccazan, who continued to commute to his company's Penrith homebase.
'They bought this on a whim. There was an idea of, 'let's escape' when the borders were closed during the pandemic, but then the owner was effectively doing FIFO [fly in fly out] every week while the kids were going to school here on the Coast,' Mr Willatt said.
Ultimate party house on the market
Hembrow's $50m limbo in bombshell split
It is the most expensive established apartment on the market in the suburb listed on realestate.com.au.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
8 minutes ago
- News.com.au
Big bank exec reveals Aus hottest housing markets
A Big Four bank executive reveals the hottest housing markets that buyers are flocking to as the country prepares for imminent back-to-back interest rate cuts. Denton Pugh, who is the National Australia Bank executive for home lending, explains below where the momentum is currently building and which housing markets are seeing strong growth nationally from a borrowing perspective. Govt pays $3.3m for unliveable derelict house We might be deep into the winter months, but there's definite signs of warmth returning to Australia's property market. Home values across the country have nudged higher again, rising 0.5 per cent in May and lifting the national index 1.7pc over the first five months of the year. And every capital city recorded growth. A sign that confidence in the market is continuing to grow. We're seeing this confidence play out in people like Emily Chalk, a 32-year-old first-home buyer who recently bought a home just outside of Rockhampton, in regional Queensland. She'd spent six months looking for a place to call home. A conversation with her banker helped her understand how the Government's Home Guarantee Scheme could help get her into her first home sooner than she thought. Within weeks she'd bought a home in the town she grew up in. Stories like Emily's are becoming increasingly more common. It's not just upgraders or investors sitting on equity returning to the market. Many first-home buyers have been waiting for banks to reduce home lending rates so they can not only borrow more but also have that confidence to take the leap into homeownership. New NAB home lending data shows lending to first home buyers is up 16pc since February, and up 32pc to home buyers more broadly. While interest rates are still relatively high, recent rate cuts are helping. These cuts combined with initiatives like the Home Guarantee Scheme, we're starting to see more people take that first step into homeownership. Of course, we can't ignore the bigger picture. While monthly growth is returning, the annual pace of property price increases has slowed. Not great news for investors but good news for those trying to break into the market. We're also seeing strong momentum in regional markets; a trend that's been building since the pandemic years and is not going away. 10 hottest regional markets so far in 2025: 1. Toowoomba – QLD 2. Burnett – QLD 3. Springfield – Redbank – QLD 4. Geelong – VIC 5. Sunshine Coast Hinterland – QLD 6. Mandurah – WA 7. Loganlea – QLD 8. Ballarat – VIC 9. Maryborough – QLD 10 Mackay – QLD In fact, Queensland regional hotspots dominated our list of the five hottest regional markets so far in 2025. Toowoomba, Burnett, Springfield-Redbank, and the Sunshine Coast Hinterland all ranked high for home loan activity. Geelong in Victoria was the only non-Queensland regional hotspot to break into the top five. It may be the weather, or the lifestyle, but regional markets offer more than just charm and appealing work life balance. They offer affordability and the potential for long-term growth. For buyers like Emily, the appeal of staying close to family, and finding space for a young family was strong. 'I already know most of my neighbours, I definitely didn't have that when I was living in Brisbane,' first-home buyer, Emily Chalk. This continued momentum is promising, but it also highlights one of the biggest challenges still facing the market – we need more homes. Lower rates are helping on the demand side, but affordability and supply remain big hurdles. Addressing those issues will take time, commitment, and smart policy. Particularly when it comes to getting new housing built in the places people want to live. The winter months are usually quieter for the housing market, however, with most economists expecting further interest rate cuts this year, winter activity is expected to be a little higher than usual, continuing to build for the busier spring period.
ABC News
30 minutes ago
- ABC News
Albany Grasmere Wind Farm's future on the table as it nears its end-of-life
One of the country's first wind farms could break new ground with the owners of the Albany Grasmere Wind Farm considering the largest domestic upgrade of its heritage infrastructure. The 18-turbine wind farm, 420 kilometres south of Perth on Western Australia's south coast, was commissioned in 2001 with 12 turbines. The existing turbines — an additional six were added in 2011 — stand about 60 metres tall with a blade diameter of 70 metres. WA's state-run power provider Synergy estimates it generates about 80 per cent of Albany's electricity needs. In addition to generating power for Albany the farm is visited by an estimated 200,000 visitors each year. Once the largest commercial wind farm in Australia, its aging technology means it is a comparative minnow. "It was a 35-megawatt facility, which was huge at the time. It was nation-leading," said energy analyst Tom Quinn. "Today your biggest wind farm in WA is the Warradarge wind farm which is 283MW in size, almost 10 times as big. On average, wind farms have a 30-year shelf life. While no commercial projects have reached the milestone, Albany Grasmere is one of three across the country approaching the end of its predicted operating life. Australia's oldest commercial wind farm in Codrington, Victoria, was commissioned three months before Albany Grasmere and was marked for decommissioning with owners Pacific Blue citing high re-powering costs. The Huxley Hill wind farm, built on King Island in Tasmania in 1998, is undergoing an $11 million restoration to its existing turbines. Recent approval for a meteorological mast to measure wind data at Albany Grasmere could indicate that a wholesale expansion of the WA facility may be on the cards. Mr Quinn said Albany's power generation was about 1.5 to 1.8MW per wind tower, while modern towers can deliver 6-7MW per tower. "I would suspect they'll swap out the entire unit," Mr Quinn said. "Modern turbines give you a lot more grunt for the same turbine footprint. "I think that's probably going to be the most likely pathway the company will take." Owner Bright Energy Investments, which jointly runs the site with Synergy, said a plan for the future of the site was underway. General manager Tom Frood said data from the yet-to-be built meteorological mast would determine the future of the site. "[It includes] the option to rebuild the wind turbines with newer technology increasing the generation capacity," he said. Mr Frood said the wind farm was an "iconic landmark" that would play a significant role in Western Australia's sustainable energy future. More modern turbines used in newer developments across the region are double in size of those used near Albany. City of Albany executive director of infrastructure, development and environment Paul Camins said the city was supportive of redeveloping the facility. "Albany was one of the first regional cities in Australia to embrace wind power and we are proud of the role we have played in advancing renewable energy," he said. "We know our community values Albany's unique natural and coastal landscapes, so any proposal would need to be carefully assessed and considered. Mr Quinn said the Albany Grasmere site could act as a litmus test for other aging facilities around the country. "It's one of the oldest, and it'll be really interesting to see how they go about this process," Mr Quinn said. "We're going to see more of it, and I think there's an opportunity to get it right and set that template for how to do this."
The Australian
31 minutes ago
- The Australian
VRL drilling finds new gold trend
Scout drilling has confirmed that a new gold mineralised trend is present at the Triton prospect Intersection of supergene mineralisation supports potential for significant gold at depth and along strike Verity Resources planning to grow and upgrade existing 154,000oz gold inferred resource at Korong and Waihi Special Report: Preliminary scout drilling at the Triton prospect has confirmed a new mineralised trend about 5km northwest of the existing Korong resource at Verity Resources' Monument gold project in WA's Laverton district. Shallow aircore drilling at Triton intersected bedrock gold mineralisation beneath a robust surface anomaly. Triton aligns with historical soil geochemistry of +20ppb gold and is hosted within the same Archean greenstone terrain that underpins some of WA's most prolific gold mines. Contact-related gold mineralisation at the prospect mirrors the mineralised architecture observed at Fred's Well, where drilling returned results such as 24m at 3.24g/t, suggesting that a structural corridor might be present. Adding interest, the mineralisation is supergene in nature, which is indicative of dispersion from a potentially higher-grade bedrock source at depth. Meanwhile, Verity Resources' (ASX:VRL) soil sampling at the McKenzie Well prospect has defined multiple large-scale coherent gold-in-soil anomalies, with peak values up to 96ppb gold across structurally favourable greenstone terrain. This makes it a high priority target for drilling in the next phases. The Monument gold project covers 232km2 about 40km west of Laverton and is directly adjacent to and along strike from Genesis Minerals' (ASX:GMD) 3.1Moz Mt Morgan project. Monument is surrounded by notable gold players such as Genesis Minerals. Pic: VRL Aircore drilling The company's aircore drill program of 19 holes totalling 757m targeted surface gold anomalism from soils and rock chip samples in prospective stratigraphic positions at the Triton, Star Well and Korong West prospects. At Triton, this drilling returned broad zones of supergene mineralisation, returning assays such as 12m at 0.2g/t gold from 20m and 4m at 0.2g/t from 24m. This mineralisation is at a favourable stratigraphic contact between mafic volcanics and siltstone, a known control on gold deposition in the region with a setting analogous to the nearby Fred's Well prospect. Intersecting gold within this structural-stratigraphic framework strongly supports the potential for significant mineralisation at depth and along strike. VRL plans to carry out follow-up reverse circulation drilling to test for continuity, grade improvement and deeper, high-grade feeder zones. While drilling at Star Well did not return significant gold intercepts, the company noted that it enhanced its understanding of the structural and lithological setting at Star Well. Future work at Star Well will focus on defining drill-ready targets beneath the strongest surface anomalies using detailed mapping, geophysics and potentially fresh rock testing from deeper RC drilling. Likewise, the lack of significant gold intersections did not take away from the fact that Korong West remains largely untested and highly underexplored, particularly considering its proximity to the Korong gold deposit. Further geochemical coverage, along with geophysical reinterpretation and deeper drilling, will be considered to evaluate the full potential of this prospective structural corridor. Prospect location plan and significant intercepts from recent aircore drilling. Pic: Verity Resources Other activity Over at McKenzie Well, the soil sampling outlined multiple broad and coherent gold-in-soil anomalies that cover a large area and display structural continuity. This makes it one of the most promising untested prospects within the company's regional pipeline. VRL noted the anomalous zones are coincident with mapped greenstone lithologies and potential structural intersections, which is indicative of a favourable setting for shear-hosted or intrusion-related gold systems. It adds the scale and strength of the geochemical response suggest a robust gold system may be present under shallow cover. Follow-up exploration at McKenzie Well will include infill soil sampling, detailed mapping, and aircore drill testing of the highest priority anomalies to progress the prospect to RC drilling in the next phase. Next steps Verity is currently focused on its resource upgrade and expansion strategy, targeting the existing 154,000oz inferred resource at Korong and Waihi. It has engaged Environmental Resources Management to carry out a comprehensive review and validation of historical drilling data associated with the current resource. This will determine the level of infill and twin drilling required to support a reclassification to the higher confidence indicated status. VRL will then design a targeted drill program to infill and step out from known mineralisation along the Korong-Waihi BIF corridor, which remains largely underexplored beyond the current resource boundaries. Following this resource-focused drill program, the company will then carry out follow-up drilling at the Triton prospect to test the depth extent and strike continuity of the newly identified mineralised trend. It will also conduct geochemical vectoring and structural interpretation of mineralised zones to refine drill targeting, including the analysis of multi-element pathfinder suites to identify fertile gold systems. This article was developed in collaboration with Verity Resources, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
