July 24, 2026 — 5:00amCapital GainWoollahra Municipal Council’s local burghers are having another crack at trying to flog their huge but run-down car park on Cross Street. Will it be third try lucky?Last time they tried to offload 1-13 Cross Street, they were thwarted by an overly complex development plan that was backed by the billionaire Lowy family’s Assembly Funds management.The Cross Street car park in Double Bay is up for grabs.Dominic LorrimerIn April 2024, the Lowys pulled out of a proposed upmarket project aiming to reinvigorate the site that involved converting the 380-space car park into a glamorous new cinema complex, shops, community spaces, offices, and swank residential apartments.That deal hit a roadblock when the council and other parties couldn’t agree on its key commercial terms. Assembly, the Lowys’ investment vehicle, had teamed up with Pallas Capital as a consortium for the project and were appointed by the council as the preferred development partner in April 2022, following a competitive selection process.This time the council is selling the car park with the long-term idea of creating a new five-storey car park, with at least 412 spaces, on the site. The current car park has four levels which, with parking on the roof, makes five floors in total. The council maintains fixing the existing car park won’t be a “prudent use of public funds” as it would need to outlay a minimum of $26 million to extend the life of the car park by a decade, and more than $39 million to extend it for 25 years.The council’s website now says construction of the new car park will take about two years, from 2028 to 2030, and is estimated to cost about $53.5 million. “We believe the proposal to rebuild the car park is the best opportunity to deliver a much-needed new car park for Double Bay and the local community,” the council says.Presumably the new owner could get a bargain-basement price if the only development allowed is a replacement car park, or they will need to factor in expensive upgrades to fix the current structure.Colliers’ Guillaume Volz, Eugene White and Paul Ephron, who are managing the sale, would not discuss the sale price. Volz said it is one of the few remaining development opportunities within Double Bay’s village core.Views stretch to the horizon at Merewether Surfhouse.Surf’s upNewcastle’s busy pub scene just got a hint more spice with the ocean-fronting Merewether Surfhouse hitting the market.The pub opened six years ago after a consortium – colourfully called the Sailors’ Rock, and led by Newcastle businessman Keith Stronach – purchased the site in 2011 for about $5 million.The Sailors took years to redevelop the site as they were forced to replace the original art deco bathing pavilion, erected in 1937, which was severely damaged in the 1989 Newcastle earthquake. They on-sold it after developing to brothers Morris and Tony Green, Mark Swadling and John Tierney, who have engaged HTL Property’s Andrew Jolliffe and Dan Dragicevich to steer the current sale.The large three-storey building covers 2277 square metres. Its vast multiple outdoor seating areas generate cash flows exceeding $10 million per annum.No sale price was disclosed but pub investor Glenn Piper’s Epochal group splashed about $40 million on the nearby Merewether Beach Hotel in mid-2022, in partnership with a syndicate of local investors.Further south, businessman and investor John Singleton is moving closer to opening his latest project The Grand Saddles luxury lodge, at Mount White on the Central Coast. The lodge is located opposite the Homestead at Saddles restaurant. Singo, as his mates call him, plans to saddle up and open the lodge this spring.Designed by White + Dickson Architects’ Michelle Leslie, the lodge will have 20 high-end villas with the main homestead offering a restaurant, spa and piano bar. It cements Singo’s presence in the Central Coast.City westA large slab of development land in Sydney’s west is on the market with price expectations of about $300 million.The mega-site known as Marsden Park North is being sold by CVC Property Group and Leamac. It covers 153.7 hectares, with about 44.9 hectares proposed for general industrial zoning, creating a substantial platform for large-scale logistics, industrial and data centre development.Colliers’ Trent Gallagher and Michael Crombie are handling the sale.Take a swingGolf enthusiasts will take a putt and welcome the arrival of the Swing Factory to Sydney.The coming golf extravaganza features 56 driving range bays across two levels featuring integrated Toptracer Range technology, adjoining lounge areas, outdoor terrace dining, cabanas, event spaces, and, to top it off, an architecturally designed 18-hole mini golf course, along with four pickleball and two padel courts.The yet-to-be-built venue features 56 driving range bays across two levels.Dion GeorgopoulosThe flagship venue in Sydney’s east is part of a rapidly expanding national network and will be the cornerstone tenant in Bayside Council’s proposed $32 million Riverine Park Masterplan in Arncliffe.Swing Factory chief executive Erich Weber, who grew up in Sydney’s south and played at the Botany golf club, said the long-term lease of the new Sydney project represents a “major milestone for the company”. Subject to final approvals, it’s expected to open in late 2028.Colliers’ Trent Gallagher and Michael Crombie are handling the sale.carolynannecummins@gmail.comThe Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning.From our partners