Five Minutes With Five Executives

Five minutes doesn’t sound like much. But it’s enough time to tell whether someone really understands money or just talks about it. Because once the gloss is stripped away, what’s left is instinct. The early mistakes. The bad calls. The quiet pivots that no one brags about but shape everything that follows. Making money is one thing. Living with it, and not mishandling it, is another. Here, five executives talk about what they got wrong, what they’ve learned, and how they now actually spend, invest and think about wealth.

Andrew Raso: Founder, Online Marketing Gurus

Andrew Raso, founder of Online Marketing Gurus.

Self-made millionaire Andrew Raso grew up in an ethnic household with a father in construction. Investing was not a priority, he recalls.

The co-founder and CEO of Online Marketing Gurus, a digital marketing platform that generated more than $30 million in revenue in the 204/25 financial year, admits he’s had to learn about handling money as his wealth has grown.

“If I had my time again, I would change my spending habits and would probably be a lot more wealthy as a result,” the Sydneysider tells Kanebridge Quarterly.

Raso, in his mid-30s, says that his biggest lessons have come from his losses.

Buying the wrong property and copping the losses upon sale. Feeling FOMO when buying crypto and making a purchase that lost money.

“I’ve learned a lot from the errors that I’ve made,” he says.

Raso admits that he gets more of a thrill out of working than watching money hit his bank account.

“I’ve had the cars, I’ve had the property, I’ve had the watches. Once you’ve had them, they’re not that exciting, but the process of earning money is pretty cool.”

What he won’t forget is being $45 million in property debt a few years ago.

“I’d never want to be in that position again,” he says.

“My investing strategy is a lot safer these days. I’m very cautious. I’d prefer to invest in things that don’t take as long to be realised so my family can be financially secure.

“Once you have a house paid off and a few investments, it then becomes about enjoying your money, rather than hoarding it. Giving back gives me a much bigger kick than spending these days.”

Daniel Wessels: CEO, Jacaranda Finance

Daniel Wessels, CEO, Jacaranda Finance. Photo: Glenn Hunt.

Fintech founder Daniel Wessels knows only too well that money remains a taboo topic in Australia with many people.

He points to consumer surveys that reveal people are more likely to talk about their sex life with friends than their finances.

It’s a major concern for the man who founded Jacaranda Finance in 2013, which has helped countless people lift their credit scores and get their finances back on track.

“If people aren’t learning money habits at school and they aren’t discussing it with their friends, learning new strategies and better habits is difficult,” says Wessels, who is based in Brisbane.

He wants to see more people take the time to proactively understand where and why they are spending money.

“Everyone needs to have a financial strategy and a plan to measure if it’s working,” he says.

The father of two young children admits his week can be pretty fast-paced. Pomodoro clocks, sleep optimisation techniques and saying ‘no’ keep him on task during the week.

“I used to think I was fairly decent at managing time, but the whole game changed when we had kids,” he says.

“Now, I’ve got to get out of the house at a certain time and leave the office at a certain time for daycare pickup. I’ve got to be really specific about my tasks to maximise my week.”

Before he had a family, he loved heading out to one of the trendy new restaurants popping up in Brisbane.

But that happens less these days. He’s saving to build his forever home but admits that price rises have resulted in rising costs.

“It’s such a big project with so many variables that change quickly,” he says.

These days, Wessels likes to optimise his professional and personal life. “With only a finite amount of money, time and energy, you’ve got to be really good at deciding what you want to be good at,” he says.

He calls this ruthless prioritisation. He has a very specific focus on activities that prioritise health and wealth, adding experiences into the mix more recently. This has meant the addition of micro-holidays to his annual calendar.

Wessels works with a couple of financial advisers. That said, he also does his own due diligence before agreeing to investments.

“One likes private equity investments that pay cash every month and another prefers to focus on the NASDAQ Stock Exchange for buying shares because he’s bullish about that.” he says. “They’re each experts and really good at what they do.”

Jim Penman: CEO, Jim’s Group

Jim Penman, CEO, Jim’s Group.

He may have invested a lifetime building a franchise juggernaut that is reportedly a $1 billion a year empire, but Jim Penman insists he’s a frugal guy who prefers to spend time planting a tree in his garden than contemplating his wealth.

What started out as Jim’s Mowing back in 1989 became Jim’s Group. Today, there are 5,700 franchisees across Australia and New Zealand in the business that has become ubiquitous for being the local handyman company that households could rely on.

He may have built a successful business empire, but the Melburnian insists he’s stingy when it comes to money.

“I wear my clothes even today until they wear out. I’ve always had a very lean and mean attitude. I live a simple life. My personal needs are very modest and my finances are simple,” he says. Jim reveals he’s usually in his garden these days and rarely eats out or takes holidays.

He is also running for state politics in the November Victorian election.

“I’m not particularly money focused. I could tweak the franchise contract to put more fees in and double my profitability, but that’s not my goal or my aim. To be honest, I often make decisions that go against my financial self-interest,” he says.

Jim purchased his first brand new car three years ago, opting for an electric Volvo.

“Being rich is not my aim and it never has been. People think I’m a lot richer than I am. They think I’m a billionaire, which is kind of ridiculous,” he says.

In fact, he insists he carries debt, which is common for anyone in business. “If I wanted, I could pay it off in 18 months.”

While his competitors were spending on fancy office space, Penman was running his franchise from his basement, keeping business costs low. “When I started out, I didn’t have any concept of how big this business could be. But there has never been a plan to grow franchisee numbers.

“Our attrition rate is far more important, and how to reduce complaint rates and drive more enquiries through new software.”

He believes people these days worry too much about impressing others, which leads to spending on superficial things.

“I would rather than offer people advice on how to be happy, rather than how to become rich. It’s important to have a good income so you can support yourself. But life is more about purpose.”

Jim doesn’t bother with stocks or bonds. He only invests in his own business. “My rate of return on my business is substantial. I could buy back a regional franchise when they come on the market and get a 20-25 per cent annual rate of return, plus capital gains. There’s nothing like that available in the investment space.”

Nicola Beswick: Founder, White Rabbit Advisory

Nicola Beswick, White
Rabbit Advisory founder.

A clothing allowance provided by her parents and then a part-time job during high school was the first taste of financial freedom for Nicola Beswick.

She quickly became a spender rather than saver, but she’s changed her tune over the years.

The founder of financial advice firm White Rabbit Advisory left behind a successful career in intellectual property law a year ago to become a financial adviser because she realised the potential that financial education could have on someone’s life.

Her journey began after coming across the book Rich Dad Poor Dad some years ago, which opened her eyes to the power that money could have on her life. This marked a time when she became serious about her finances.

“Financial education and investing over time can have a huge impact on a person, and that book got me thinking about money and financial education in the first place,” she says.

Nicola says years ago, her father was diagnosed with multiple sclerosis. When dealing with the devastating news and an uncertain future, her father discovered he was eligible to receive an income protection payout.

“This was the stone that rippled his pond and mine. A new complex world of finance opened up and I discovered my calling – helping people plan for a financially secure future.”

She hasn’t looked back. “Commercial law was very transactional. I don’t regret quitting at all. I’m much happier now helping people get their finances in order. Financial planning helps people change their lives. That was a really big driver for me.”

The Melburnian admits she’s learned plenty of lessons along the way as she embarks on the process of building wealth. She uses superannuation as an investment vehicle, favouring its tax advantages.

“I also built a nest egg outside of super, because you never know when the rules will change,” she says.

She prefers to set a financial goal and save up for something specific over time than rush out and make a purchase.

“It’s a really powerful thing to wait before making a purchase,” she says.

Her current financial goals involve renovating her heritage-listed home. “We will keep the façade and gut it to rebuild. That’s a major expense for us on the horizon.”

While holidays are rare, she will spend on overseas trips on occasion. “I’m terrible at taking time off. I’m always working.”

Sam Riley: CEO, Drova

Sam Riley, Drova CEO.

Sam Riley was in his 20s when he set out to amass enough money to be able to retire by the age of 40 if he wanted to.

“The goal was always to be doing something by 40 that kept me engaged enough that I didn’t actually want to retire because I was happy,” he says.

An entrepreneur at heart, Sam started a juice and espresso bar when he was 21, which didn’t work out. His next venture was a technology business, Ansarada, an ASX-listed company he ultimately sold nearly two years ago for $250 million.

The sale set him up for life, but he’s not one to rest on his laurels, launching into the complex world of artificial ntelligence with his next technology play, a company called Drova.

The technology startup simplifies risk, compliance and resilience for small businesses. Sam believes it’s got potential to become a tech juggernaut in time.

Having early financial success has meant he has the luxury of slow mornings and working in short bursts throughout the day, problem solving, experimenting with what works and figuring out how to harness AI.

“I favour a more sustainable approach to working these days. More frequent breaks. Making sure not to deteriorate my capacity,” he says.

It was a hard slog. He admits he touched the fringes of serious burnout when he was younger, which he works hard to avoid these days.

“Every business venture has exposed a gap in my skills that I’ve worked to close. Whether that’s marketing or managing people, closing those gaps along the way is how you get more effective at generating wealth,” he says.

The secret to his success has been finding ways to bolster value in the corporate world, finding ways to bring more to the table. Sam admits he spends too much money on travel, food and niche vinyl audio equipment, like turntables. He prefers to invest in experiences rather than things.

But it can get expensive. Like a recent trip to Antarctica to stay in a lodge for a week. “The thing is I didn’t like having these experiences on my own, so I have to bring family or other people and then pay for them.”

Sam describes his investment portfolio as balanced. While he continues to invest in entrepreneurial ventures, he admits he has a safe foundational platform to his investment approach.

“Over the years, I’ve added a lot more dividend stocks and protective assets like gold and silver, and some index funds.

“When I was younger, I didn’t appreciate the value of being safe and boring in the investment world.”

He says a lot of his investments used to be leading edge and visionary. “Some of them work, and some of them don’t. I didn’t really have much balance in my portfolio. I still invest in entrepreneurial things, but am much more conscious of taking a more even-handed approach,” he says.

This article appeared in the Winter 26 issue of Kanebridge Quarterly, which you can buy here.

Paramount Discussed $1.5 Billion California Investment to Clear Merger Hurdle

California’s attorney general and Paramount PSKY -3.86%decrease; down pointing triangle have discussed a series of potential concessions as part of advanced settlement negotiations, including a $1.5 billion investment by the company in production in California, according to people familiar with the discussions.

Paramount executives and a coalition of states that sued to block its $81 billion merger with Warner Bros. Discovery WBD -1.56%decrease; down pointing triangle spent the weekend hashing out the details of a possible settlement. Such an agreement would clear the way for a deal that would bring HBO, CBS, CNN, streaming services and famed movie studios under one owner.

Among the concessions the parties have discussed beyond the sizable production investment: a promise not to sell either studio lot and to stay in the state of California, the people said. The company had explored moving out of the state as the deal faced opposition.

The parties have also considered potential penalties if Paramount doesn’t make good on an earlier pledge to make 30 movies a year after the merger, including having to sell its stake in Miramax, known for such classic movies as “No Country for Old Men” and “Pulp Fiction,” the people familiar with the matter said.

Other measures the sides have explored include the sale of some cable channels and the creation of a board to ensure that CNN retains editorial independence, people with knowledge of the talks said. The network has been a political flashpoint throughout Paramount CEO David Ellison’s fight for Warner. Paramount had been discussing creating such an editorial board before the lawsuit.

A final deal hasn’t been reached, and it is unclear what terms the parties may ultimately agree to.

Ellison has spent the past year fighting to buy Warner in a megadeal that would expand his entertainment empire, but that has drawn opposition from some political and Hollywood figures.

A dozen Democratic-led states led by California Attorney General Rob Bonta sued in July to block the deal on antitrust grounds, arguing that the combination of Paramount and Warner would create too much concentration in the markets for theatrical films and cable television channels.

The Writers Guild of America sued over the merger, saying that the deal would eliminate jobs and career opportunities for Hollywood screenwriters.

Demonstrators protest a proposed media merger outside the Elihu M. Harris State Office Building in Oakland, Calif.
Demonstrators protested the potential settlement in downtown Oakland on Sunday. Jeff Bercovici/WSJ

About two dozen demonstrators gathered in front of the Elihu M. Harris State Office Building in downtown Oakland on Sunday evening to protest a potential settlement. Holding signs reading “Bonta: Don’t You Dare” and “Block the Megamerger,” they took turns giving speeches urging the attorney general to continue pressing the suit.

“Nothing has changed since he filed the case,” said Annie Leonard, co-founder of the nonprofit Committee for the First Amendment, which advocates for free expression. “He needs to stay as strong as he was in filing it.”

The two sides had come under pressure to settle the matter in recent months, including from California Gov. Gavin Newsom, Los Angeles Mayor Karen Bass, gubernatorial candidate Xavier Becerra, movie theater chains and some Hollywood labor unions.

Paramount’s agreement with Warner also included a “ticking fee” with payments to Warner shareholders of roughly $650 million a quarter, or $7 million a day, beginning next month, until the transaction closes.

Paramount had asked a federal judge to require the states and the Writers Guild to put up a nearly $1.9 billion bond for challenging the acquisition, money that would go to the company if it ultimately won the case.

Girard-Perregaux brings Williams F1 blue to the Laureato

Girard-Perregaux has revealed the first watches created through its partnership with Atlassian Williams F1 Team, bringing the British racing team’s colours to one of Switzerland’s most recognisable integrated-bracelet designs.

The collaboration comprises two 42mm steel watches: the time-and-date Laureato Williams Edition and the more technical Laureato Chronograph Williams Edition.

Both retain the familiar architecture of the Laureato, including its octagonal bezel, integrated bracelet and mix of polished and satin-finished surfaces. The influence of Williams is comparatively restrained, appearing through colour, discreet branding and details inspired by the team’s current Formula 1 car.

It is a welcome departure from the oversized logos and literal automotive references that can characterise motorsport watches.

The Williams FW48 inspires the dial

The centrepiece of both models is a blue Clous de Paris dial informed by the livery of the Williams FW48, the car being campaigned by the team during the 2026 Formula 1 season.

A small Williams “W” replaces the conventional marker at 12 o’clock, while the team emblem appears on the sapphire crystal caseback. Red accents echo the keyline used on the FW48 without overwhelming the established Laureato design.

The three-hand model offers the quieter interpretation. Baton-shaped, rhodium-plated hands and hour markers are filled with white-emitting luminescent material, while a date window sits at three o’clock.

The chronograph creates a more obvious connection with motorsport. Three subdials are framed by rhodium-plated rings, with red appearing on the small-seconds hand and the tip of the central chronograph seconds hand.

Both watches measure 42mm across and are water resistant to 100 metres. The standard Laureato has a case thickness of 10.68mm, while the additional mechanics of the chronograph increase its profile to 12.16mm.

Two in-house automatic movements

The Laureato Williams Edition is powered by Girard-Perregaux’s self-winding GP01800 calibre. The movement provides hours, minutes, central seconds and the date, with a minimum power reserve of 54 hours.

The Laureato Chronograph Williams Edition uses the automatic GP03300 calibre, which combines its chronograph functions with a date display and offers a minimum power reserve of 46 hours.

Both movements operate at 28,800 vibrations per hour and can be viewed through their sapphire crystal casebacks.

Their decoration provides a more traditional counterpoint to the Formula 1 association. Finishing techniques include Côtes de Genève, circular graining, bevelling, mirror polishing, satin finishing, engraving and snailing.

The result is less about reproducing the appearance of a racing car than identifying the common ground between two mechanical disciplines: precision, incremental development and the considerable work hidden beneath the finished product.

Parallel histories

The timing of the partnership draws attention to the remarkably similar ages of its two protagonists.

Girard-Perregaux introduced the original Laureato in 1975, establishing an integrated-bracelet sports watch with a distinctive octagonal bezel. Williams entered Formula 1 two years later in 1977.

Both have evolved continuously across the five decades since. The Laureato has moved through different sizes, materials and complications, while retaining its central design language. Williams, meanwhile, has remained one of Formula 1’s most historically significant teams.

That gives the collaboration greater credibility than a simple licensing exercise. Girard-Perregaux and Williams are not being connected solely through the familiar language of speed. Their stronger link is a shared dependence on engineering, testing and the accumulation of specialist knowledge.

The watches are described as the beginning of a longer collaboration, suggesting further Williams editions may follow.

Girard-Perregaux’s international website lists the Laureato Williams Edition at US$16,200 and the Laureato Chronograph Williams Edition at US$20,900. Australian pricing has not been announced.


Specifications

Girard-Perregaux Laureato Williams Edition 42mm

Reference: 81010-11-3680-1GM
Case: Steel
Diameter: 42mm
Thickness: 10.68mm
Crystal: Anti-reflective sapphire crystal
Dial: Blue Clous de Paris pattern
Movement: Automatic GP01800
Functions: Hours, minutes, central seconds and date
Power reserve: Minimum 54 hours
Water resistance: 100 metres
Bracelet: Integrated steel bracelet with triple-folding clasp
International price: US$16,200

Girard-Perregaux Laureato Chronograph Williams Edition 42mm

Reference: 81020-11-3681-1GM
Case: 904L steel
Diameter: 42mm
Thickness: 12.16mm
Crystal: Anti-reflective sapphire crystal
Dial: Blue Clous de Paris pattern with three chronograph counters
Movement: Automatic GP03300
Functions: Chronograph, hours, minutes, small seconds and date
Power reserve: Minimum 46 hours
Water resistance: 100 metres
Bracelet: Integrated 904L steel bracelet with triple-folding clasp
International price: US$20,900

 

$8.1 billion, 10,000-home community set for Dubai neighbour Sharjah

Sharjah is set to receive one of its largest new residential communities, with Azizi Developments unveiling plans for a US$8.1 billion master-planned precinct containing more than 10,000 homes.

Named Azizi Florence, the freehold development will comprise 1,130 villas, more than 6,000 townhouses and 3,500 apartments. Three-bedroom townhouses will start from US$515,000, with an indicative rate of US$231 per square foot of saleable space.

The project marks the Dubai-based developer’s first move into Sharjah, expanding a portfolio that includes the planned Burj Azizi skyscraper and the Azizi Venice community in Dubai.

A park at the heart of the community

Rather than treating landscaping as an afterthought, Azizi Florence will be organised around a 1.7 million sq ft central park.

The wider precinct is planned as a self-contained neighbourhood combining homes with retail, hospitality, education, leisure and wellness facilities.

Six residential clusters will sit within the development, each with its own park, clubhouse, community centre and landscaped gardens. The approach reflects a broader shift across large Middle Eastern developments, where greenery, recreation and everyday convenience are increasingly central to the residential proposition.

The scale of Azizi Florence suggests it is intended to function as a neighbourhood rather than a collection of housing estates. Its mix of housing types should also give the project broader appeal, accommodating apartment buyers alongside families seeking townhouses or standalone villas.

Azizi expands beyond Dubai

Azizi Developments has delivered more than 45,000 homes to buyers from over 100 countries and says it has approximately 150,000 units under construction.

Much of its growth has been concentrated in Dubai, where its portfolio extends across Palm Jumeirah, Mohammed Bin Rashid City, Dubai South, Sheikh Zayed Road and Downtown Jebel Ali.

Its most prominent current project is Burj Azizi, which is intended to become the world’s second-tallest building. Azizi Florence represents a different type of undertaking: a low-rise, family-oriented community built around public space and daily amenity.

For company founder and chairman Mirwais Azizi, the Sharjah project also carries a personal connection. The emirate was his first home in the UAE more than three decades ago, adding a symbolic dimension to the developer’s expansion.

Sharjah’s residential ambitions grow

Although Dubai and Abu Dhabi have traditionally captured much of the international attention directed at the UAE property market, Sharjah has been steadily broadening its residential offering.

Large freehold communities such as Azizi Florence have the potential to attract both local families and international purchasers looking for comparatively accessible entry points into the Emirates’ property market.

At a starting price of US$515,000, the project’s three-bedroom townhouses will sit well below the cost of equivalent family homes in many of Dubai’s more established luxury communities.

The ultimate appeal, however, will depend on execution. At this scale, the quality of the public realm, connections between residential clusters and delivery of the promised supporting infrastructure will be as important as the homes themselves.

If those elements come together, Azizi Florence could help establish a new benchmark for large-scale residential development in Sharjah—and give buyers another option beyond the UAE’s better-known property markets.

Why Australia is primed for a branded residences boom

Australia could be on the cusp of a new wave of branded residential development as wealthy buyers accumulate more homes and place greater value on convenience, service and lifestyle.

Knight Frank’s The Residence Report 2026 found that the global branded residences market has almost tripled in size over the past decade. The number of developments increased from 354 in 2015 to 903 by the end of 2025 and is expected to surpass 1,000 during 2026.

By 2031, the sector is forecast to approach 1,800 developments encompassing more than 300,000 residences.

The research covered almost 1,800 operational and proposed schemes from more than 200 brands across 90 countries. Although Australia possesses many of the attributes sought by affluent buyers, its branded residential market remains comparatively immature.

That could be about to change.

Knight Frank and its Australian residential partner, McGrath Estate Agents, expect developers to pursue opportunities in Sydney, Brisbane and the Gold Coast, where demand for premium, low-maintenance homes is being supported by domestic wealth, interstate migration and international buyers.

About 60 per cent of Australia’s identified branded residence developments are earmarked for Queensland.

Wealthy buyers are building global property portfolios

Growth in branded residences is closely connected to the mobility of the world’s wealthiest people.

Ultra-high-net-worth individuals now own an average of 3.8 homes, compared with 2.9 less than a decade ago. International flight volumes are forecast to reach 13.2 million in 2026, approximately 19 per cent higher than in 2023.

As wealthy buyers establish multiple residential bases, they are favouring homes that can be occupied immediately and managed from a distance.

Security, concierge services, wellness facilities and reliable property management are becoming increasingly important, particularly for owners who divide their time between several cities or countries.

McGrath national head of research Michelle Ciesielski said Australia’s stability, lifestyle and long-term growth prospects made it a logical addition to these international property portfolios.

Demand is not limited to overseas buyers. Affluent Australians are also seeking turnkey homes that combine privacy and security with the service standards traditionally associated with luxury hotels.

Lifestyle destinations are challenging global cities

Branded residences were once concentrated in gateway cities, but the market is rapidly moving towards coastal, island, mountain and resort locations.

In 2016, about 38 per cent of branded residence developments were situated outside major cities. More than half are now in non-urban locations, with that proportion forecast to reach 57 per cent by 2028.

The changing geography reflects a willingness among wealthy buyers to pay city-level prices in destinations offering a distinctive lifestyle.

Marbella’s highest residential values now broadly match those recorded in Madrid, while Phuket Island has more operational and proposed branded residence schemes than London.

The Australian market is well placed to benefit from this shift. Sydney offers international recognition and a deeply established prestige market, while South East Queensland combines migration, population growth and a strong leisure proposition.

Brisbane’s luxury market comes of age

Brisbane is emerging as one of the Asia-Pacific region’s fastest-rising luxury residential markets.

Investment associated with the 2032 Olympic Games is adding to the city’s momentum. The Queensland Government has committed $7.1 billion to venue infrastructure and a further $3.4 billion for new and upgraded facilities across the state.

Brisbane’s prime residential values increased by 2.6 per cent in the year to the second quarter of 2026. The Gold Coast recorded growth of 2.4 per cent, while values declined by 2.8 per cent in Sydney and 2 per cent in Melbourne over the same period.

New luxury apartments in Brisbane now average approximately $29,100 per square metre. The Gold Coast averages about $24,700 per square metre, compared with $33,200 in Melbourne. Sydney remains in a separate category at an average of $74,500 per square metre.

Developers are responding with increasingly ambitious projects.

Sanctuary by Aria in South Brisbane is planned as part of a three-tower precinct containing almost 600 homes. Its shared amenities are set to include a rooftop club, wellness centre, concierge service, golf simulators, bathhouse-style pools and a multi-sport court.

Luxury hotel group Capella is also redeveloping the historic Shafston House estate at Kangaroo Point. Scheduled for completion in 2029, the development is expected to include 50 branded homes, with apartments starting at $8 million.

Adam Ross, head of international and private clients at McGrath, expects another three branded residential projects to be announced across Australia over the coming 12 months.

Sydney demonstrates the depth of demand

At the top end of the market, Sydney continues to demonstrate the depth of Australia’s luxury buyer pool.

Lendlease’s 58-storey One Circular Quay development, positioned between the Sydney Harbour Bridge and Opera House, contains 158 residences and was reported to be more than 90 per cent sold.

Four-bedroom residences have been priced between $60 million and $70 million, while one full-floor sub-penthouse was created in collaboration with Armani.

The project’s performance suggests buyers will pay a substantial premium for exceptional architecture, hotel-style service, extensive amenities and an irreplaceable location.

Melbourne’s pipeline includes GURNER Group’s $3.75 billion redevelopment of the Jam Factory in South Yarra. Designed by Skidmore, Owings & Merrill, the precinct is planned to include about 800 residences and two hotel brands that have not yet been announced.

A broader definition of branding

Hotel operators still dominate the branded residence market, with Marriott International, Accor, Hilton, Four Seasons, Banyan Group and IHG collectively accounting for more than 40 per cent of global supply.

However, branding is moving well beyond hotels.

Around 70 per cent of existing developments are affiliated with hotel operators, but this falls to 60 per cent when the development pipeline is included. Non-hotel brands are forecast to increase their share of the market from approximately 30 per cent in 2025 to almost 40 per cent by 2028.

Fashion, automotive and lifestyle businesses are entering the category as developers look for new ways to differentiate their projects.

At the same time, the meaning of luxury is changing. The latest concepts include longevity clinics, cryotherapy, hyperbaric oxygen treatment, sound-healing studios and private lifts capable of transporting residents’ cars to elevated garages.

But as these facilities become more common, the long-term value of a project may depend less on its amenity list and more on elements that cannot be replicated: location, architecture, provenance and a genuine sense of community.

For Australian developers, the opportunity is therefore larger than placing a luxury name above the entrance. The strongest projects will be those in which the brand, services and location combine to create a residential experience buyers cannot find elsewhere.

Ross believes branded residences will ultimately become a defining force in Australian luxury development.

With wealthy buyers owning more homes, Queensland’s prestige market gaining momentum and Sydney continuing to attract substantial capital, the next phase may already be taking shape.

Forget the AI Apocalypse—the Real Threats Are Already Here

There is ample and alarming evidence that artificial intelligence can help humans do bad things, such as committing cyberattacks, building weapons and even killing themselves or others. The Hugging Face hacking episode—and a growing list of others by poorly constrained swarms of agents—indicate just how powerful and potentially dangerous AI has quickly become.

Yet many inside the U.S. AI industry insist far worse is coming, on account of the imminent arrival of AI with superhuman and self-improving abilities.

Plenty of experts, including many who study AI harms for a living, are skeptical. The so-called doomers’ assertion that AI might decide to wipe out all of humanity—or even “just” topple human civilization—is contingent on it achieving a pace of development not yet seen.

And if the assumptions behind this global-doomsday scenario are wrong, it could lead us to curb or regulate AI in ways that don’t address its real harms.

At the center of this debate is the claim that current AI systems might take over the job of training their next versions, a process called “recursive self-improvement.” Think of it like evolution on steroids—billions of years happening at light speed within vast AI supercomputers. Anthropic Chief Executive Dario Amodei recently proposed a global agreement to slow down the pace of releasing new AI models, with the goal of delaying the arrival of recursive self-improvement.

“I don’t think we’re anywhere near ‘artificial general intelligence,’” says Melanie Mitchell, a professor at the nonprofit research group Santa Fe Institute who studies AI. She said AI is making impressive strides but thinks claims by engineers that they’ve achieved recursive self-improvement don’t stand up to scrutiny.

She is hardly alone. A recent paper by two dozen academics at Princeton, Stanford and other institutions found that even the most cutting-edge AIs are incapable of doing the original research required to advance the AI frontier.

Two of the authors involved in that paper also threw cold water on the idea that the Hugging Face swarm hack by OpenAI agents occurred because of a breakthrough in intelligence. The attack succeeded primarily because of a lack of basic technical guardrails, not an unmanageable explosion in AI capability, they wrote.

Yann LeCun, former chief AI scientist at Meta, posted that this analysis was “a welcome dose of sanity in an otherwise insane debate.”

OpenAI and Anthropic didn’t respond to several requests for comment.

The people who disagree with the doomers still consider AI to be dangerous, and point out that such systems don’t have to be particularly capable to be powerful. Some argue that AI should undergo regular evaluation by outsiders and that the companies that make it should be held responsible when their systems do harm. AI should also be treated the same as airplanes and elevators, and should be designed to do the least harm possible, they say.

“If you believe that technology is powerful enough to create novel, dangerous viruses, or to essentially take over the whole planet for some reason, then it must also be strong enough to create cures for cancer, to cure aging, to fix socio-economic or political problems,” says Christopher Canal, CEO of EquiStamp, a company that helps companies and governments evaluate AIs.

AI has shown an ability to rapidly advance because it is matching the abilities of humans who are constantly feeding it their knowledge. Sometimes it can recombine that knowledge and exceed what people have been capable of, through a kind of post-training known as reinforcement learning, as we’ve seen in mathematics.

Today’s LLMs are “models of knowledge” rather than actually intelligent, wrote Yi Ma, professor of AI at Hong Kong University.

Researchers at universities and commercial AI research labs in China wrote in a recent paper that autonomous, self-improving AI is likely to be a long way off, due to the sheer number of breakthroughs required. They also argue that humans will probably remain in the loop, supervising that process—and gating how fast it can occur.

Vals AI, a company that evaluates today’s AI models, maintains an RSI Index that benchmarks whether models can “do the research that builds the next model.” So far, no publicly released model is even close.

Yet Rayan Krishnan, CEO of Vals AI, says his team projects models will exceed humans’ ability to improve the next generation of AIs by August 2027, or sooner, and at that point could start building their successors all on their own.

“Once we get to recursive self-improvement, the fear is that all bets are off,” he says. “You could end up with a ‘fast takeoff’ situation, where the models quickly acquire skills and eclipse humans across every possible domain.”

In a reply to the resignation tweet heard round the world from Jacob Coxon, another Anthropic engineer declared his belief that those odds were at least 10% over the next decade. Many others in the industry chimed in to say they thought the percentage was even higher.

Some who argue the end is nigh say they calculate their personal p(doom) based on a chain of conditional probabilities—a bit like the Drake equation for calculating the likelihood of intelligent alien life. Since all those probabilities are based on speculation, estimates range from 0% to nearly 100%. Many land around 10%.

“The weird thing is that if you go back and look at the predictions on this over the last 10 years or more, it’s always been 10%—it’s just a nice round number,” says Mitchell. “I think it’s all vibes, and there’s no actual evidence or calculation.”

One argument against worrying about superintelligent AI is that the world is full of unlikely humanity-ending disasters, and trying to avert them all can make it impossible to prioritize, says Canal.

This has led AI experts and the policymakers who listen to them to propose remedies that don’t get at its real and present dangers.

AI companies’ proposals to “pace the frontier” aren’t addressing the problem in the right way, argues Stuart Russell, a computer-science professor at the University of California, Berkeley, and the president of the International Association for Safe and Ethical Artificial Intelligence.

“It’s like saying we’re driving toward the cliff at 60 miles per hour and we’re going to drive toward it at 40 miles per hour instead, and everything will be OK,” he says.

Russell and his peers have proposed that AI companies should have to meet the same standards that govern other areas of everyday life, from air travel and buildings to food and drugs. They highlight the “behavioral red lines” AI should not be allowed to cross. Breaking into other computer systems, stealing information or advising terrorists on how to build biological weapons are all illegal for a human to do, and should be illegal for companies’ AIs as well, he argues.

The challenge for AI companies in such a proposal, he adds, is that it would be a de facto ban on today’s advanced AI systems, since the companies behind them don’t know how to make them respect such boundaries all of the time.

Others have proposed something like the Food and Drug Administration, but for AI, but setting up a new agency has so far been a nonstarter in Congress. And some prominent voices in tech have said such a structure would give up America’s AI edge to China.

Given the bipartisan groundswell of support for curbing AI companies and their creations, however, that may soon change.

“The tech industry has had this mantra for decades that regulation is bad,” says Russell. “They don’t accept the liability for any harm, and they hide behind free speech. That, I think, has to change.”

Energy and Materials Lift the ASX From Three-Month Low

The Australian sharemarket rebounded from its lowest close in three months on Wednesday, with energy and materials companies leading a cautious recovery.

The S&P/ASX 200 finished approximately 23 points, or 0.27 per cent, higher at 8,695.6 on 16 September. A second data source placed the closing index at 8,696.5, up 24 points or 0.28 per cent. The official close should be confirmed through a licensed feed before publication.

The broader All Ordinaries added 25.2 points, or 0.28 per cent, to 8,874.5.

Energy was the strongest sector, rising 2.19 per cent as Australian producers reflected the previous overnight increase in global oil prices. Woodside gained 2.84 per cent. Brent had settled near US$108.75 a barrel before the local session, although it later traded around US$107.68.

Materials advanced 1.28 per cent and provided the largest positive contribution to the index. Gold producers featured prominently among the strongest stocks, with Pantoro rising 9.3 per cent and St Barbara gaining 8.18 per cent. BCI Minerals added 7.48 per cent.

Financials fell 0.37 per cent, detracting from the benchmark despite earlier strength. Rate expectations remained a significant influence after Westpac joined the other major banks in forecasting a possible Reserve Bank increase in November. Higher rates can expand bank margins in some circumstances but also raise funding costs and increase the risk of loan stress and slower credit growth.

Technology remained weak. Life360 declined 5.46 per cent, while healthcare names that had rallied during Tuesday’s sell-off gave back ground. 4DMedical lost 5.35 per cent and Telix Pharmaceuticals fell 4.96 per cent.

James Hardie dropped 5.23 per cent. Codan moved against the weaker technology tone, gaining 7.51 per cent.

The session produced positive breadth, with more advancers than decliners among the largest 250 stocks, but the broader backdrop remains unsettled. Oil prices have revived inflation concerns, bond yields are elevated and investors are assessing the prospect of further monetary tightening in Australia and the United States.

The rebound therefore recovered only part of Tuesday’s 0.9 per cent decline. For Thursday, investors will be watching overnight central-bank developments, energy markets and whether gains can broaden beyond resources.

Market dashboard — 16 September 2026

S&P/ASX 200* Approximately 8,695.6, up 23.1 points or 0.27 per cent; verify the official closing print

All Ordinaries: 8,874.5, up 25.2 points or 0.28 per cent

Best-performing sector: Energy, up 2.19 per cent

Materials: Up 1.28 per cent

Weak sector: Financials, down 0.37 per cent

Leading mover: Pantoro, up 9.30 per cent

Notable large-cap mover: Woodside, up 2.84 per cent

Notable loser: Sunrise Energy Metals, down 6.22 per cent

Life360: Down 5.46 per cent

Australian dollar: About US71.3 cents in the preceding market snapshot

Gold: Approximately US$4,375 an ounce in the afternoon snapshot

Brent crude: Approximately US$107.68 a barrel in the afternoon snapshot

New Home Sales Fall 10 Per Cent as Australia’s Construction Recovery Loses Momentum

Australia’s hoped-for recovery in housing construction is losing momentum before it has had time to close the national supply gap.

Sales of new detached homes fell 10 per cent nationally in August, according to the Housing Industry Association’s survey of major volume builders across the five largest mainland states. It was the fourth consecutive monthly decline.

The fall was broad rather than isolated. Victoria recorded the largest retreat, down 27 per cent, followed by Queensland at 20.2 per cent, New South Wales at 17.5 per cent, South Australia at 10.8 per cent and Western Australia at 8.2 per cent.

Across the three months to August, sales were 19.3 per cent below the preceding three-month period and 7.7 per cent lower than the equivalent period a year earlier.

New-home sales matter beyond the immediate fortunes of volume builders. They are an early indicator of future starts: buyers sign contracts, finance is finalised, approvals are secured and construction follows months later. A sustained sales decline during the middle of 2026 is therefore likely to weaken commencements during 2027.

The slowdown reflects the collision of several pressures. Households have absorbed multiple interest-rate rises, reducing borrowing capacity and increasing the repayment cost attached to a new build. Established-home prices have softened in some markets, weakening the relative appeal of waiting through a construction period. Builders continue to face elevated labour and material costs.

The Reserve Bank’s August analysis showed new-dwelling construction prices increased 1.8 per cent during the June quarter and 5.3 per cent over the year. It attributed part of the pressure to oil-derived building products and other conflict-related costs.

Policy uncertainty can also cause buyers and investors to defer large commitments. But the precise contribution of any single tax or regulatory change is difficult to isolate from rates, confidence, land prices and construction costs. The HIA survey should be read as an indicator from large builders rather than a complete count of every dwelling sale.

The figures complicate progress towards the Housing Accord target of 1.2 million homes. The National Housing Supply and Affordability Council reported 308,000 completions since the Accord began and 244,000 dwellings under construction in the March quarter. Approvals and commencements had improved, but falling sales risk undermining the next wave.

For developers and governments, the warning is that planning approvals alone do not create homes. Projects need finance, viable construction pricing and buyers able to settle. If one part fails, approved supply can remain on paper.

Data box

National August new-home sales: Down 10 per cent

Three months to August: Down 19.3 per cent from the preceding three months

Year-on-year three-month comparison: Down 7.7 per cent

Victoria: Down 27 per cent

Queensland: Down 20.2 per cent

New South Wales: Down 17.5 per cent

South Australia: Down 10.8 per cent

Western Australia: Down 8.2 per cent

How to Give Host Gifts That People Will Want

Conventional wisdom is that if you are invited to someone’s home—or on their yacht or plane—you should thank them with a host gift. Exceptions can include casual get-togethers with close friends or occasions when you’re expressly asked not to.

The best gifts appear effortless, but are chosen with immense consideration. A bottle of wine bought en route to the party, the old standby for many, is no longer one of them.

When choosing a gift, it’s helpful to follow certain parameters: nothing too ostentatious, too hefty or too idiosyncratic in design. At the same time, thinking outside the box can show a deeper level of thoughtfulness. Here’s how to pull it off.

Keep gifts relatively small

Thom Bettridge, an editor and writer in New York, has a rule of thumb: he only buys gifts that are smaller than a breadbox, to minimize the space that they take up in hosts’ homes. He likes thoughtfully designed playing cards or cookies from a specialty bakery.

Hermès bridge cards, $215; William Greenberg black & white cookies, $27 for a box of 12.Hermès; William Greenberg Desserts

Hermès bridge cards, $215; William Greenberg black & white cookies, $27 for a box of 12.Hermès; William Greenberg Desserts

Imported sea salt also passes the breadbox test. It’s a gift that Los Angeles fashion designer Zoe Latta often gives to friends. She said fancy salt is always well received because it’s an elevated version of an everyday staple that most people use.

Another small gift—a favorite of Salima Boufelfel, a founder of vintage clothing stores in New York, Paris and Tucson, Ariz.—is Santa Maria Novella’s scented pomegranate, a terracotta vessel that smells like and resembles the fruit. “It scents closets and laundry rooms,” she said.

Sicilian sea salt, $5.50 at Gustiamo.com; Santa Maria Novella scented terracotta pomegranate, $95.Gustiamo; Santa Maria Novella

Sicilian sea salt, $5.50 at Gustiamo.com; Santa Maria Novella scented terracotta pomegranate, $95.Gustiamo; Santa Maria Novella

Don’t assume a host has everything

Part of being a good guest, according to Bettridge, ”is understanding subtle helpfulness.”

When New York City Ballet principal dancer Unity Phelan is invited on a group trip to someone’s home, she and her husband try to stop at a nearby market or farm stand to buy a bounty of fruit and vegetables that everyone can enjoy throughout the stay.

Eli Zabar deluxe fruit gift basket, $250.
Eli Zabar deluxe fruit gift basket, $250. Eli Zabar

Even if your host seems to have it all, that isn’t a reason to forgo bringing a gift. “People think that ultrahigh net-worth people are buying everything and they are not,” said Kelly Bensimon, the model-turned-reality-TV-star-turned-real-estate-agent.

Thoughtful knickknacks are something that people of any social status can appreciate, Bensimon added. She likes giving dish towels made of fine European linen, which she often gets at Clic, the French homewares boutique with locations in California, New York City, the Hamptons and St. Barts.

Avoid strong aesthetics

“You want to find things that will blend in,” said Latta, the fashion designer. Clear glassware that can be easily mixed with a host’s other cups is a good option, she said.

Fresh flowers, another old standby, endure as a suitable host gift—if you get them from a local florist, not a corner store, and go with seasonal varieties. For a cleaner look, Kaelen Haworth, the owner of a luxury-clothing store in Toronto, likes choosing flowers in a single color or type, not an assortment.

Charvet Editions tea towel, $48 at Clic; Hirota Opal Wave Glass, $40 at BOMIKyle Cobian/Clic; Hirota Glass/BOMI

Charvet Editions tea towel, $48 at Clic; Hirota Opal Wave Glass, $40 at BOMIKyle Cobian/Clic; Hirota Glass/BOMI

If you’re going with flowers, sometimes it’s better to send them after the fact—for instance, if you’re invited on a private plane. Zachary Weiss, a writer in New York, likes to send orchids to his hosts well after landing. “It comes down to practicality,” he said.

Have a stash at the ready

It’s easy to leave gift-buying to the last minute. Stockpiling some trinkets will help you avoid the scramble.

When she’s not giving flowers, Haworth likes to give skin care—specifically from independent brands or products from other countries, which she buys in bulk when she travels. “I went to Greece and bought 15 bottles of a sunscreen they don’t have in the U.S.”

La Roche-Posay UVMUME Sunscreen, about $25 (not available in the U.S.); AKT Body Wash Concentrate, $37 at Credo.La Roche-Posay; AKT London

La Roche-Posay UVMUME Sunscreen, about $25 (not available in the U.S.); AKT Body Wash Concentrate, $37 at Credo.La Roche-Posay; AKT London

Sometimes, life gets in the way and grabbing wine might be the only alternative to showing up empty-handed. If you’re invited somewhere with your significant other, do as New York ceramist Shane Gabier does and get two bottles of wine—a gesture more generous than showing up with just one.

Victoria’s New Auction Rules Will Force Reserve Prices Into the Open

Victorian auction buyers will soon receive a piece of information that has traditionally been withheld until bidding reaches it: the vendor’s reserve price.

Under new property-sale and underquoting laws, agents must publish the agreed reserve at least seven days before an auction or fixed-date sale. Most changes begin on 1 October 2026 and apply to auctions and fixed-date sales held from 16 October.

The reserve must be presented as a single dollar amount. Advertising and the new Property Price Statement must be updated to match it, without qualifiers such as “from”, “over” or “starting at”. If the reserve has not been published seven days before the scheduled sale, the auction or fixed-date sale cannot proceed and penalties may apply.

For buyers, the immediate benefit is clearer budget discipline. A purchaser should be less likely to pay for inspections, strata reviews, contract advice and loan preparation on a property whose seller will not accept a price within the advertised range.

That does not mean the published reserve predicts the result. Competitive bidding may still carry a property far beyond it. Nor does it remove the need to value the property independently. The reserve is the seller’s minimum at that stage of the campaign, not an expert statement of market value.

The Statement of Information will be replaced by a more prominent Property Price Statement. Agents must disclose key features of the property and of the comparable sales used to support the quoted price. Where three appropriate comparables cannot be identified, one or two must be supplied if they exist.

Sold-price transparency will also increase. Agents must add the unconditional sale price to the Property Price Statement within seven days and keep that statement available publicly for at least 18 months, subject to limited exemptions including personal or family-violence concerns.

Later changes will require Section 32 vendor statements to be made available earlier, including at least 14 days before an auction or fixed-date sale from June 2027. From July 2027, agents will be prevented from taking commission from deposits released before settlement.

Vendors and agents will need to adjust campaign strategy. Setting a reserve earlier may reduce last-minute flexibility and make price expectations more visible to competing buyers. Some vendors may prefer private treaty campaigns, although those sales remain subject to broader pricing and disclosure laws.

For buyers, the practical response is not simply to bid up to the disclosed reserve. Use it as one data point alongside comparable sales, building and pest reports, owners-corporation records, planning constraints and finance approval. Decide on a maximum before the auction and do not confuse the seller’s minimum with your own valuation.

Key dates

– 1 October 2026: Most new rules commence
– 9 October 2026: First reserve disclosures may be required for sales on 16 October
– 16 October 2026: New reserve rules apply to auctions/fixed-date sales from this date
– 1 June 2027: Earlier Section 32 availability begins
– 1 July 2027: Restrictions on commission from released deposits begin
– 1 December 2027: Broader sold-price reporting to Consumer Affairs begins

ASX Edges Higher as Healthcare and Banks Offset Technology Weakness

The Australian sharemarket ended a four-session losing run on Monday, but only just, as gains in healthcare and the major banks offset weakness across technology and materials.

The S&P/ASX 200 closed 8.7 points, or 0.10 per cent, higher at 8,749.9 on 14 September. The broader All Ordinaries added 3.7 points, or 0.04 per cent, to 8,923.9.

The subdued rebound followed a difficult week in which the ASX 200 fell to a seven-week low. Elevated oil prices and growing concern that persistent inflation could keep interest rates higher remained important constraints on sentiment.

Healthcare was the strongest sector, rising 1.52 per cent, followed by consumer staples at 0.61 per cent and financials at 0.43 per cent. Banks gained about 0.52 per cent as a group. Information technology was the weakest sector, down 1.14 per cent, while materials lost 0.55 per cent and industrials declined 0.35 per cent.

FleetPartners was the clearest company-specific story. Shares rose 12.11 per cent to $4.63 after the vehicle-leasing and fleet-management group updated investors on revised non-binding indicative takeover offers. Reports indicated three competing proposals, with bids reaching as high as $4.65 a share. The announcement was explicitly marked market-sensitive, providing a confirmed catalyst for the move.

Lovisa gained 5.73 per cent to $22.87, making it the strongest performer within the ASX 200. Nine Entertainment rose 5.19 per cent and Telix Pharmaceuticals added 4.72 per cent. Where no fresh price-sensitive company announcement clearly explains a move, it is safer to describe it as market buying or sector rotation rather than assign a speculative cause.

At the other end, Megaport fell 7.80 per cent and Paladin Energy dropped 6.91 per cent to $9.57. Paladin had no new operating announcement dated 14 September on its investor page; the decline should therefore be discussed in the context of uranium-sector trading rather than attributed to unverified company news. Immutep and Sunrise Energy Metals recorded still larger percentage falls within the ASX 300.

Macro conditions remain central. Brent crude had recently retreated from a spike above US$100 a barrel but remained elevated, while Australian bond yields reflected expectations that inflation risks could delay relief for borrowers. Investors are also looking towards the next Federal Reserve decision and its implications for currencies, global growth and interest-rate-sensitive assets.

The positive close therefore represents stabilisation rather than a convincing change of direction. Tuesday’s session will test whether defensives and banks can continue to support the market if technology and resources remain under pressure.

Market dashboard — 14 September 2026

S&P/ASX 200: 8,749.9, up 8.7 points or 0.10 per cent

All Ordinaries: 8,923.9, up 3.7 points or 0.04 per cent

Best-performing sector: Healthcare, up 1.52 per cent

Weakest-performing sector: Information technology, down 1.14 per cent

Major winner: FleetPartners, up 12.11 per cent to $4.63

ASX 200 leader: Lovisa, up 5.73 per cent to $22.87

Notable loser: Megaport, down 7.80 per cent

Paladin Energy: Down 6.91 per cent to $9.57

Australian dollar: About US71.65 cents

Gold: About US$4,349 an ounce

Brent crude: About US$104.61 a barrel

Inside the New Custom Line Navetta 35, a Four-Deck Home at Sea

The most compelling modern yachts increasingly borrow from residential architecture: clearer circulation, larger windows and outdoor rooms that feel genuinely connected to the interior. Custom Line’s new Navetta 35, given its world premiere at the Cannes Yachting Festival, pushes that idea across four decks.

At 34.5 metres long with a beam of 7.7 metres, the yacht is the new entry point to Custom Line’s displacement range. Its scale is substantial enough to create distinct private, social and service zones, yet remains below the dimensions of the yard’s larger custom superyachts.

The exterior was developed through Ferretti Group’s Strategic Product Committee and Engineering Department, while Custom Line Atelier supervised the interior definition and owner personalisation. That made-to-measure process is central to the brand: layouts, materials, furniture and artwork can be shaped around how an owner intends to use the yacht rather than applied as a fixed decorative package.

Outdoor living is distributed across the vessel rather than concentrated at the stern. The beach club brings guests close to the water; the main and upper decks provide protected entertaining areas; and the sun deck creates a more private elevated retreat. The design seeks to preserve open sightlines, allowing sea views to run through social spaces and reducing the sense of division between saloon and terrace.

The Navetta designation signals a displacement yacht intended for composed, efficient cruising rather than outright speed. For owners, the appeal lies in range, comfort and the ability to spend longer periods aboard. Technical specifications, engine options, range and top speed should be confirmed against the final shipyard data for the displayed hull.

What can be seen is a continuation of Custom Line’s preference for quiet sophistication. Instead of decorating every surface, the interior architecture uses proportion, natural light and carefully selected materials to carry the experience. Built-in pieces establish structure, while freestanding furniture and art allow an owner’s personality to emerge.

The debut also arrives during Custom Line’s 30th anniversary year. Since its foundation, the marque says it has delivered more than 300 made-to-measure yachts. The Navetta 35 is therefore both a new model and a statement about what the next chapter should look like: more openness, closer contact with the water and customisation that goes beyond choosing finishes.

At Cannes, where new models compete for attention metre by metre, the Navetta 35’s proposition is relatively restrained. It is not trying to look like the fastest boat in the marina. It is designed to feel like a highly private waterfront home — one capable of moving when the owner wants a different view.

Yacht snapshot

– Model: Custom Line Navetta 35
– Type: Displacement superyacht
– Length: 34.5 metres
– Beam: 7.7 metres
– Decks: Four
– Debut: Cannes Yachting Festival, 8–13 September 2026
– Builder: Custom Line, Ferretti Group
– Price: On application

At Restaurants, Phones Are Becoming the New Cigarettes

It wasn’t all that long ago that restaurants and bars around the country were dappled in the glow of cigarettes. Those days are over, but diners haven’t stopped lighting up—now it’s just with the blinding OLED gleam from their phones.

My seven-year run as a bartender started in the BlackBerry era and ended a few years after the birth of the iPhone. Back then, phone interruptions were mostly relegated to a few stray pings. If someone picked up a phone, it was usually only to say “Can I call you back?”

Today, phones are as common in a table-setting as napkins and silverware. If diners themselves aren’t pulling them out to check messages and social media, they’re likely in the background as others record Instagram videos or make FaceTime calls.

Many restaurants and patrons alike are pushing back against the shift that has turned collegial, communal spaces into places to watch TikTok while you eat. Here’s what some are doing—and what we can learn from them.

The phone lockup

Antagonist, a cocktail bar in Charlotte, N.C., is pretty antagonistic about phones. Upon entry, each customer receives a lockable Yondr pouch—the same bag some schools use to store students’ phones—that can only be opened by the staff.

“The main goal of our whole concept here really isn’t to burden anybody or take away their property,” Adam Horner, Antagonist’s general manager, said. “It’s essentially just to bring back a little slice of human connection that we all feel has been lost with technology.”

Antagonist customers are given Yondr pouches to lock up their phones.
Antagonist customers are given Yondr pouches to lock up their phones. Antagonist Coffee and Cocktails

Even if your dinner destination doesn’t have the same rules, you can still borrow the basic idea. Keep your phone somewhere inconvenient or even mildly inaccessible: in your coat pocket, for instance, or your purse.

While Horner admits some patrons have arched an eyebrow at Antagonist’s policy, the benefit of having a place where people can be part of an organic social scene has far outweighed the potential loss of customers, he said. “I strongly encourage people to give it a chance, and sometimes they don’t and they go somewhere else.”

The airplane approach

The Edge, a local spot in Manhattan’s Harlem neighborhood, is a bit less rigid about phones. There’s no ban on them, but the restaurant doesn’t offer internet access. A sign at its bar reads: “No Wi-Fi. No Screens. Connect With Each Other.”

The directive is meant to encourage “stepping away from the digital and being present in the moment,” said Justine Masters, who owns The Edge with her sister Juliet.

The Edge encourages diners to disconnect.
The Edge encourages diners to disconnect. The Edge Harlem/Heather Smith

Another way anyone with a smartphone can separate themselves from the internet: turn on Airplane mode. It may sound obvious, but it’s a simple and effective way to minimize phone-induced distractions while dining out.

The screen-free competition

For those wanting to break the grip of a bad habit, one tactic is to replace it with another better-for-you thrill. That’s the strategy behind the fast-food chain Chick-fil-A’s “cellphone coops.”

At a number of locations, diners can request a coop—a cardboard box—where they can put their phones while they eat. The goal is get groups to make it through an entire meal without checking their phones, with free ice cream as a reward. The coops even feature conversation prompts for the table.

You don’t need a cardboard coop to emulate the competition elsewhere—and if ice cream isn’t enough of a draw, treat the person who goes longest without using their phone to a free drink. Or make the loser pay the tip.

The point is to create rituals that result in discipline and, slowly, new habits.

What we gain from no-phone dining

The ubiquity of phones has not only eroded our manners, but also lessened the joys of bar and dining culture. One of Chris Hall’s favorite watering holes is The Saloon in Washington, D.C., a community-orientated beer bar with no televisions and a blanket ban on all phone use.

For him, it’s a bulwark against a bar culture that has become “very insular and not very fun.” He added that, over the years, he’s made at least a dozen friends at The Saloon. “You can talk to strangers in this place.”

Tina Vaughn and Chip Smith, the husband-and-wife owners of Eulalie, an upscale cloth-napkin bistro in Tribeca, also forbid phone use at their restaurant.

A note on the menu states that phones should be on ’vacation’ while dining at Eulalie.
A note on the menu states that phones should be on ’vacation’ while dining at Eulalie. Eulalie

The policy is spelled out on a sign in the entryway and on the restaurant’s handwritten menus. Vaughn sees it as a way to help patrons combat the pressure to always be available.

“People want an excuse. They’re dying for someone to say, ‘You can get off that. It’s OK,’ ” she said. “The phone has become less a tool and more of a stress bomb, I feel, for so many.”

Inside Abadeen’s Penthouse Crowning Park Residences in Cremorne

There is a fundamental advantage in being able to walk through a newly built penthouse before deciding to buy it. 

The purchaser can see how northern light moves through the living room, judge whether the terrace is large enough for entertaining and understand the real relationship between the interiors and the view. The quality of the stone, joinery and finishes no longer needs to be imagined from a sample board. 

That certainty forms an important part of the appeal at Park Residences in Cremorne, where Lower North Shore specialist Abadeen has released the completed whole-floor penthouse for sale by expressions of interest. 

Occupying the building’s uppermost level, the residence spans 295sqm on title, including a 74sqm wraparound terrace. It has three bedrooms plus a study, 2.5 bathrooms and private lift access, with its principal rooms oriented north towards the leafy surrounds of Cremorne and Middle Harbour. 

Park Residences Penthouse, Cremorne

The scale is intended to feel closer to a freestanding home than a conventional apartment. It is also the crowning residence in a completed collection of just 11 homes, giving the building a degree of privacy increasingly difficult to find in larger residential developments. 

A penthouse designed from the inside out 

The penthouse is the product of a collaboration between Abadeen founder and executive chairman Justin Brown and designer and curator Jack Freeman, founder of FREEMAN & CO. 

Their brief extended beyond specifying premium finishes. The intention was to create an established private residence — a home with warmth, art and individual pieces — rather than an immaculate but impersonal display apartment. 

“The experience begins the moment the lift doors open,” Brown says. 

“You’re welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.” 

Park Residences Penthouse, Cremorne

Brown says that when someone walks through the front door, they pause. 

“It’s not just the view, it’s the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly. It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living.” 

Freeman’s approach is based on the idea of collecting rather than decorating. Furniture, lighting and art are selected for their form, provenance and relationship to the architecture, producing an interior that appears to have developed over time. 

At Park Residences, the curation includes furniture by Parisian design house Pierre Augustin Rose and the sculptural Ball and Shade pendant by London studio Square in Circle. 

Park Residences Penthouse, Cremorne

These international pieces sit within an architectural framework of oak flooring, marble surfaces, full-height glazing, integrated joinery and a feature fireplace. 

The result is restrained but not anonymous. Curved and sculptural furniture softens the apartment’s clean architectural lines, while art and distinctive lighting introduce points of personality. Natural stone and timber give the rooms a tactile quality that is intended to age more gracefully than a heavily trend-driven palette. 

Northern light as an architectural material 

The penthouse’s north-facing orientation is central to the experience. 

Floor-to-ceiling glazing brings daylight deep into the principal living spaces and frames a view across the surrounding treetops towards Middle Harbour. Instead of the harder glare and heat that can accompany a western outlook, the northern aspect provides more consistent light through the day. 

That light also changes the character of the materials. Marble, timber, upholstery and metalwork become more expressive as shadows move across their surfaces. 

The main living and entertaining spaces connect directly with the wraparound terrace, extending the usable footprint of the home and giving different parts of the interior access to the outlook. 

Park Residences Penthouse, Cremorne

At 74sqm, the terrace is conceived as a genuine outdoor living area rather than a narrow apartment balcony. It provides space for dining, informal seating and entertaining while preserving the elevated perspective over Cremorne’s greenery. 

The fireplace gives the living room a counterpoint during cooler months, helping the large, glazed space retain warmth and intimacy after dark. 

The appeal of a whole-floor residence 

A penthouse occupying an entire level offers more than additional floor area. 

It can provide separation from neighbouring apartments, greater control over orientation and windows on multiple sides of the building. Private lift access also creates a more deliberate sense of arrival and removes the usual transition through shared residential corridors. 

At Park Residences, those attributes are combined with a boutique building of only 11 residences. 

The comparatively small number of homes should appeal to buyers moving from substantial houses who want less maintenance without accepting the density or anonymity of a large apartment tower. 

Park Residences Penthouse, Cremorne

That downsizer market has become an important audience for luxury developments across Sydney’s established suburbs. Many buyers are not necessarily seeking smaller living spaces; they want to relinquish gardens, external maintenance and ageing houses while retaining room for family, guests, work and entertaining. 

The Park Residences penthouse responds to that expectation with three bedrooms, a separate study, generous living areas and an outdoor space large enough to function as another room. 

Cremorne beyond the harbour view 

The penthouse is positioned at 2 Sutherland Street, opposite Cammeray Golf Club and close to Cammeray Croquet Club and Grand Slam Tennis Cammeray. 

Neutral Bay Village, its cafés, restaurants and shops are approximately 650 metres away, according to Abadeen’s campaign material. The Oaks Hotel is also within walking distance, while the Sydney CBD remains readily accessible by road and public transport. 

This combination of outlook and convenience is an important part of the proposition. 

The residence is elevated above a green Middle Harbour landscape, but it is not isolated from everyday services. For an owner-occupier, the ability to walk to coffee, dining and shopping can matter as much as the panoramic view. 

The advantage of buying completed 

Off-the-plan purchasing necessarily involves interpretation. Buyers assess architectural drawings, renders, finish schedules and display suites before committing to a residence that may not be completed for several years. 

A finished penthouse removes much of that abstraction. 

Prospective buyers can test the privacy, sound, natural light, outlook and proportions themselves. They can also assess whether the interiors and furniture curation align with the way they want to live. 

Park Residences Penthouse, Cremorne

This is particularly relevant at the premium end of the market, where the emotional response to a residence can be as important as its specifications. 

Park Residences is not selling the promise of what its penthouse may eventually become. The rooms, terrace, view and material detail are already there to be experienced. 

The Penthouse at Park Residences is being offered for sale by expressions of interest through SRM Residential. Private inspections are available by appointment. 

At a glance 

  • Property: The Penthouse at Park Residences 
  • Address: 2 Sutherland Street, Cremorne, NSW 
  • Developer: Abadeen 
  • Architecture: MHNDU 
  • Interior curation: Jack Freeman and FREEMAN & CO 
  • Building: Boutique collection of 11 completed residences 
  • Title area: 295sqm 
  • Terrace: 74sqm wraparound entertaining terrace 
  • Accommodation: Three bedrooms plus study 
  • Bathrooms: 2.5 
  • Aspect: North-facing 
  • Outlook: Across Cremorne’s leafy surrounds towards Middle Harbour 
  • Access: Private lift entry 
  • Selected design pieces: Pierre Augustin Rose furniture and the Ball and Shade pendant by Square in Circle 
  • Sales method: Expressions of interest 
  • Selling agency: SRM Residential 
  • Project contact: 1800 700 880

Built for Growth: The People and Expertise Behind Kanebridge Finance

South Western Sydney is undergoing a significant transformation. New infrastructure, expanding industries and sustained population growth are creating opportunities for developers and business owners—but they are also producing increasingly complex funding requirements.

Kanebridge Finance has grown alongside this changing market. Established in 1999 and headquartered in Liverpool, the brokerage combines local knowledge with specialist experience across property development, commercial lending, asset finance and working capital.

Rather than relying on a traditional founder-led structure, the business draws on the complementary expertise of three senior leaders: Marwan Rahme, Jon Gawley and Mark Donovan.

Complementary experience, shared direction

Founder Marwan Rahme continues to shape Kanebridge Finance’s broader vision and growth strategy. His focus on innovation and expanding the firm’s capabilities has helped the business evolve well beyond a conventional finance brokerage.

Managing Director Jon Gawley oversees its day-to-day operations and commercial lending activities. A finalist for the 2026 AFG Best Broker – Commercial Lending award, Jon brings more than 20 years of senior business banking experience from NAB and Suncorp. His understanding of how lenders assess commercial transactions is particularly valuable for developers, business owners and borrowers navigating complex funding decisions.

Mark Donovan leads Kanebridge Finance’s asset finance and working capital offering. Recognised as a finalist for the 2026 AFG Best Broker – Asset Finance award, Mark joined the business following almost three decades in NAB’s business banking division. His team supports businesses seeking finance for equipment, construction activity, cash flow and expansion.

Together, the three leaders provide distinct but connected areas of expertise. Clients benefit from access to a broader team while still receiving advice from someone experienced in the particular type of finance their transaction requires.

Experience demonstrated through delivery

Kanebridge Finance’s position has been built through completed transactions and long-term client relationships.

The brokerage has funded approximately $675 million across residential and commercial projects, arranged $300 million in property development finance and supported the successful delivery of more than 100 projects.

These transactions frequently involve the kinds of challenges that require more than a standard lending approach: complicated ownership structures, staged developments, commercial property, business expansion and time-sensitive capital requirements.

The firm’s work has also received industry recognition. Kanebridge Finance was named MPA Magazine’s Commercial Broker of the Year in 2025 and 2026 and received a Global Best in Mortgage award recognising commercial brokers across the Asia-Pacific region, North America and the United Kingdom.

Local knowledge in a rapidly changing region

Liverpool is more than Kanebridge Finance’s head office location. It places the business within one of Australia’s most active development and investment corridors.

The growth associated with Western Sydney International Airport and the Aerotropolis is contributing to wider industrial, logistics, commercial and residential activity throughout South Western Sydney. For local businesses and developers, these opportunities often bring financing questions that cannot be answered by comparing interest rates alone.

Project location, development timing, lender appetite, cash-flow requirements and future expansion plans can all influence how a facility should be structured. Kanebridge Finance’s presence in the region gives its team an informed understanding of this environment and the ambitions of the people investing in it.

Specialist support without unnecessary complexity

For clients, the benefit of Kanebridge Finance’s leadership model is straightforward: they can work with one brokerage across several stages of growth without receiving generalised advice.

A developer seeking project funding can draw on the firm’s property and commercial finance experience. A growing company purchasing machinery or vehicles can work directly with its asset finance specialists. A business requiring additional liquidity can explore working capital solutions with advisers who understand business banking and cash flow.

Each client is connected with the expertise most relevant to the transaction, while the wider team remains available as their circumstances evolve.

As investment in South Western Sydney continues, Kanebridge Finance is positioned to support the businesses and developments helping shape the region—combining more than two decades of local presence with the specialist capability required to turn ambitious plans into funded projects.

www.kanebridgefinance.com.au