Executive Summary
- 12 Feb 2023 – Kippax collapses: Kippax Property Pty Ltd was deregistered, marking the venture’s abrupt end. Every investor in Kippax lost their entire investment.
- 27 Jun 2022 – Planning refusal: The City of Sydney rejected Kippax’s flagship 44–78 Rosehill Street proposal due to misrepresentations, excessive height, wind impacts and inadequate public benefits.
- May 2025 – ICAC investigation: A suspicious off‑market land sale to Kurraba Group for its 100 Botany Road project is under investigation by the NSW ICAC.
- Jul 2025 – Court challenge: Community groups launch a judicial review in the NSW Land & Environment Court to challenge Kurraba’s 100 Botany Road development approval.
- Oct 2025 – Legal intimidation: Nick Smith attempts to silence critics through legal actions, including a defamation lawsuit and an AVO, widely seen as SLAPP tactics.
How we sourced this: All information is drawn from public records (court filings, ASIC/ABR registry data, official planning documents) and credible reports (investor disclosures, investigative articles). Every claim is supported by a citation linking to the original source. No speculation or unattributed allegations are included.
Timeline of Key Events
Kippax launched: Kippax Property is launched by Nick Smith with a 50% joint‑venture investment from Ariadne Australia.
Redfern site option: Kippax secures an option to purchase 44–78 Rosehill Street, Redfern.
Upzoning refusal: City of Sydney removes the Rosehill Street site from the Botany Road incentive plan.
Kurraba Group formed: Kurraba Group Pty Ltd is incorporated by Nick Smith.
Kippax deregistered: Kippax Property Pty Ltd and related entities are formally deregistered.
SSD lodged: Kurraba lodges a state significant development application for a $219 million life‑sciences campus at 100 Botany Road.
ICAC referral: A referral is lodged to the NSW ICAC regarding the off‑market sale of the Botany Road site to Kurraba.
Judicial review: Community groups file a judicial review challenging the 100 Botany Road approval.
AVO filed: Nick Smith seeks an AVO against a community critic.
Defamation suit: Kurraba and Nick Smith file a defamation lawsuit against a critic.
Project Case Notes
100 Botany Road (Waterloo/Alexandria)
Status: Stalled and in jeopardy. Pitched as “Australia’s first commercial life‑sciences campus,” this $490 million project remains mired in legal challenges. After a fast‑track approval in late 2024, local residents filed suit to overturn the consent. In parallel, the ICAC is scrutinising how Kurraba acquired part of the site from a housing charity in an off‑market deal.
Issues & controversies: Financing difficulties; no confirmed operator for the promised proton‑beam therapy centre; community distrust due to minimal consultation; and investor scepticism over Kurraba’s capacity to deliver.
Community impact: Residents feel sidelined by the state‑level planning path. The project’s uncertain future fuels warnings that rewarding a developer linked to unpaid debts and broken promises sets a dangerous precedent.
44–78 Rosehill Street (Redfern)
Status: Abandoned. Kippax Property’s flagship tower was rejected by the City of Sydney in June 2022 for breaching planning controls. By late 2022, the project was effectively dead; Kippax ran out of money and the venture collapsed.
Issues & controversies: Evidence revealed internal lobbying strategies to bypass normal planning rules, including rebranding the tower as a “medical research” facility to gain state significant status. Kippax also orchestrated a pressure campaign on council using investors and Indigenous stakeholders as lobbying tools.
Outcome: Investors lost millions; the Redfern site remains undeveloped and under Ariadne’s control.
Nick Smith: Role & Record
Nicholas “Nick” Mark Smith (b. 1985) is the driving force behind Kippax Property and Kurraba Group. He marketed himself as an experienced developer with 15 years in major firms, but under his leadership Kippax collapsed, leaving investors with 100% losses.
Rather than acknowledge the failure, Smith registered Kurraba Group in September 2022, effectively continuing the same business under a new banner. Critics describe this as a “rinse and repeat” strategy.
Pattern of conduct: Public records suggest a willingness to mislead stakeholders; staff were allegedly instructed to deceive creditors about unpaid bills. Dissolving companies after failures has frustrated creditors, who have no entity to pursue.
Confrontations with critics: Instead of engaging with valid concerns, Smith has pursued aggressive legal tactics – including defamation suits and AVOs – against community advocates.
Reputation: Once hailed as visionary, Smith is now a controversial figure. Former investors and community groups question whether he can overcome mounting legal and financial challenges.
Media & Public Records Digest
- ASIC deregistration record (Feb 2023): Official extract confirms Kippax Property Pty Ltd was deregistered on 12 Feb 2023.
- City of Sydney minutes (27 Jun 2022): Records document the removal of Rosehill Street from the Botany Road incentives.
- Ariadne 2022–23 reports: Disclose an $8.4 million impairment on Kippax and eventual exit.
- ICAC investigation (2025): ICAC probe into the off‑market sale of affordable‑housing land to Kurraba.
- NSW Land & Environment Court case: Judicial review challenging 100 Botany Road’s approval.
- KurrabaGroup.exposed – “Kippax failure” (Oct 2025): The Failure of Kippax Property and Rebranding as Kurraba Group.
- Rosehill St scandal: Exposing Nick Smith’s 44–78 Rosehill Street, Redfern Development Scandal.
- Affordable housing scandal: Insider Deals Flip Affordable Housing into Private Gain.
- Botany Road debacle: Kurraba’s Botany Road Debacle: A Developer’s Shell Game Exposed.
- Silencing critic: Nick Smith’s Legal Campaign to Silence a Community Critic.
FAQ
Who or what is Kippax Property?
Kippax Property (also known as Kippax Group) was a property development venture launched in 2019 by Nick Smith. It collapsed in February 2023, leaving investors with total losses.
Is Kippax related to Kurraba Group?
Yes. Kurraba Group Pty Ltd, incorporated in September 2022, was set up by Nick Smith as a successor to Kippax; it continued similar projects in the Botany Road precinct.
What happened at 44–78 Rosehill Street?
Kippax planned a tall commercial tower on this Redfern site, but the City of Sydney refused the upzoning in 2022 and the project was abandoned.
What is 100 Botany Road?
A proposed life‑sciences campus in Alexandria; its approval is under legal challenge and aspects of its site acquisition are being investigated by ICAC.
How were sources verified?
All information comes from public records, court judgments, regulator filings, credible media or KurrabaGroup.exposed. Allegations reported by KurrabaGroup.exposed were fact‑checked by a lawyer and are clearly attributed.
How can I request a correction?
Please contact tips@kippaxproperty.com with any corrections or new evidence.
Evidence & Citations
Every claim on this website is backed by a source. The citations in the text link to live records and archived copies where available. For transparency, the key sources are listed below.
| Source | Publisher | Date |
|---|---|---|
| ASIC deregistration extract | ASIC | 12 Feb 2023 |
| City of Sydney Council minutes | City of Sydney | 27 Jun 2022 |
| Ariadne annual report 2022 | Ariadne Australia | Aug 2022 |
| ICAC referral (media report) | ABC News | May 2025 |
| Land & Environment Court case | NSW LE Court filings | Jul 2025 |