New York VC takes stake in Aussie start-up promising longevity
The Melbourne-based startup has secured $15 million in seed funding in a round led by Left Lane Capital, a New York and London-based venture capital and growth equity firm. The funds will fuel Everlab's international expansion efforts into Europe, the United States and across APAC in 2026, and grow its clinic network and develop the platform.
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Sydney Morning Herald
7 hours ago
- Sydney Morning Herald
CFMEU stain on our society must be removed
Disclosures by the Herald last week involving a gangland associate, a Gold Coast developer and the CFMEU are disturbing – not only because they are innately concerning, but also because they show yet again that the cancerous network of thuggery, intimidation and misfeasance that contaminates business, industry and wider society throughout this country continues. It is a stain on the nation. The Herald reported that gangland associate John Khoury was paid $110,000 by Queensland-Melbourne joint venture Glen Q to help secure industrial peace on the Gold Coast, where the developer was building a 16-level project at Broadbeach. A meeting was held between influential CFMEU figures and Khoury. This occurred four months after the federal government forced the union into administration. There is no suggestion the union attendees have done the wrong thing and the administration has also cleared them. But the payment to Khoury by the developer was uncovered during federal police raids. A money trail was thus revealed between a front company in the name of Khoury's accountant to Glen Q's project. Also involved was Nick Maric, a Melbourne construction boss now a Queensland government contractor, who has separately retained the services of Khoury and Mick Gatto to deal with the CFMEU. Glen Q's payment to Khoury focuses light on how business and construction is done. Our reporting also highlights the rivalry between the CFMEU and the Australian Workers' Union. Representatives of the latter support two firms led by figures with criminal links to foil the CFMEU.
News.com.au
10 hours ago
- News.com.au
Balwyn North home sells for $2.975m after auction showdown
A six-way auction showdown has seen a single-level Balwyn North home sell for $2.975m, topping Melbourne's PropTrack weekend auction results. The impeccably maintained home at 9 Macedon Ave drew a crowd of about 60 onlookers and sparked fierce competition from families and downsizers alike, with six bidders pushing well beyond expectations. The campaign attracted nearly 100 groups through the door, many drawn by its rare blend of low-maintenance luxury, flexible living, and proximity to both North Balwyn Village and the Balwyn High School Zone, one of the city's most coveted catchments. Revealed: The Block's priciest mistakes Fletchers Balwyn director Daiman Kane said the home was 'as move-in ready as it gets' and hadn't changed hands in more than 20 years. 'It was very competitive, the moment bidding opened it was game on,' Mr Kane said. 'It's a beautifully kept, one-owner home, walking distance to shops, cafes, trams and one of Melbourne's best public schools. That kind of package just doesn't come up often.' The single-level floorplan was another major drawcard, particularly for buyers seeking downsizer-friendly living without sacrificing space or lifestyle. The home includes four bedrooms, three bathrooms, and multiple indoor-outdoor living zones, including an alfresco terrace surrounded by lush gardens, a water feature and a mini putting green. Inside, parquetry floors frame the open-plan family zone, anchored by a granite kitchen with Smeg and Miele appliances, a walk-in pantry, and abundant storage. Mr Kane said there wasn't a cent to spend on the home. 'The buyers loved that they could move straight in and enjoy everything, no renos, no compromises,' he said. The winning bidder, a single woman downsizing from a larger home, had been searching for the right property in the area and 'acted quickly' once she found it. 'She was absolutely ecstatic — and rightfully so,' Mr Kane said. 'For a downsizer who still wants space, garden, and walkability, this was the perfect match.' The Fletchers Balwyn director said the result was a clear signal that quality listings is in short supply, and buyers are willing to stretch for the right property. 'Winter's actually proving to be a great time to sell,' Mr Kane said. 'There's less on the market, but the buyer pool is still strong, and good homes are being snapped up fast.' With a potential interest rate cut tipped by the Reserve Bank next month, Mr Kane said momentum was building across Melbourne's established suburbs. 'If you're a buyer waiting for the perfect conditions, this might be your window,' he said. 'Confidence is definitely returning, and we're already seeing that reflected in competition and results.' PropTrack data shows Melbourne home values rose 1 per cent in June, with buyer urgency and low stock levels combining to drive strong winter clearance rates, a trend expected to accelerate in spring. 'You can really feel the energy starting to shift,' Mr Kane said. 'We're on the upswing, and there's still time to catch the wave.'
News.com.au
13 hours ago
- News.com.au
‘Death trap': Owner stuck in defective Melbourne home after developer collapsed
Rebecca Welsh thought she'd found her dream home. The two-bedroom townhouse in the beachside suburb of Edithvale, Melbourne, appeared to tick all the boxes when Ms Welsh bought it at auction for $795,000 in early 2021. 'I thought it was great location - it was close to my daughter's school, close to public transport, close to the beach,' the 52-year-old told 'It just had everything. I wasn't any the wiser.' Ms Welsh was eager to move straight in and did not get a building inspection, a decision she has come to regret. The following year, she began to notice major issues with the property - and her health. Water was leaking into the kitchen in multiple areas, including through the window, rangehood and ceiling. The house was humid and had a constant damp smell. Ms Welsh was horrified when she discovered the wall cavities were damp and riddled with black mould. On-top of the stress of trying to repair the house, she was also dealing with breathing problems and skin rashes. She arranged an environmental assessment report which found the house was damaged, mouldy and damp due to water ingress - particularly a lack of waterproofing around the floor slab and inadequate drainage. The level of mould was 'likely to have significant health effects to occupants,' the report said, estimating the cost of mould remediation works to be more than $130,000. Ms Welsh later also arranged a building report, which concluded the property had a long list of defects, including poor waterproofing at the floor slab level, non-compliant roof pitch, sarking, and flashings, and incorrectly installed external cladding. The report estimated the cost of repairs - after the mould remediation work - to be more than $200,000. 'This place is a death trap,' Ms Welsh said. Do you know more about Arrow Building Group? Email Ms Welsh said she was unable to cover the repair costs herself and nobody else would take responsibility. When she contacted the developer, Arrow Building Group, the company initially told Ms Welsh that its homes came with a three month defect liability period that had already concluded. It later agreed to send a builder to carry out repairs, but Ms Welsh said it only intended to 'patch up' the problem rather than address the root causes. She said she had not received any assistance from the strata manager, appointed by Arrow Building Group, and the body corporate's insurer had told her that it does not cover defects. Having run out of options, Ms Welsh said she was effectively stuck in her defective home, with no end to her ordeal in sight. 'What do you do? Where do you go and live? 'I can't sell, because I wouldn't get a cent for it. It would have to be bulldozed. Either way, for my own mental sanity, I've got to get the place repaired.' The Melbourne-based Arrow Building Group collapsed into voluntary administration in April. has contacted the company and its administrator for comment. A country-wide problem Research shows Ms Welsh is one of millions of Australians who are living in defective homes. Last year, a report from the Australian Housing and Urban Research Institute revealed 70 per cent of the estimated 10.9 million homes across the country have some kind of major building defect. They range from plumbing and waterproofing issues, some of which can cause hazardous mould such as in Ms Welsh's case, through to serious structural faults and foundation cracking. Associate Professor Lyrian Daniel from the University of South Australia, an architectural expert and lead author of the research, said the findings smashed the old perception that homes in this country are built to stand the test of time. 'For many years in Australia, we've had a fairly laissez-faire approach to regulation in the construction sector when it comes the quality of our housing,' Dr Daniel said. 'The notion that the free market will demand a certain level of quality - it will lead to high standards - simply doesn't ring true. We need national leadership in this area - a strategy that ensures housing stock, whether it's new, existing, owned or private rental, is of a good standard.'
