Domain Prestige - July 14, 2021

14 JULY / 2021

PRESTIGE THE BEST IN AUSTRALIAN PROPERTY

EARTH & WATER Home s inspired by the Yarra

B y K ATE FARRE LLY

Balmain Sydney 37 Duke Street $11 million E MILY WATKINS

5

3

5

For sale: By expressions of interest Agent: Modern House, Marcus Lloyd-Jones 0424 005 531 Beyond the bright lights of the Gold Coast, and the luxury of Brisbane’s

Wonderfully private, this light-filled waterfront

leafy suburbs, there’s a new favourite among prestige property buyers in

home claims sparkling north-easterly views

Queensland. In the south-east, idyllic, multimillion-dollar luxury acreages

across Mort Bay to Ballast Point Park. Designed

are in hot demand, as we find out in this week’s feature story. Tree-changers

by Nordon Jago Architects, the three-storey

have bumped up prices and brought down the time on market in

property comes with Gaggenau appliances,

picturesque spots like Tamborine Mountain and Samford, to name just two.

spotted gum floors, a feature gas fireplace and a

For a very different kind of luxury, Living In this week checks in on South

solar-heated pool and spa. There’s also access to

Yarra in Melbourne, with its foodie and fashion credentials just as valued by

a leased jetty with mooring for a 15-metre boat.

locals as its parklands. It’s also where you’ll find the new Como Terraces, featured in our cover story. And The Property Investor column this week has a rundown on what to consider if you’re thinking of buying into supported independent living accommodation.

Acting editor: Emily Watkins emily.watkins@domain. com.au Editorial producer: Paige Tonna Group picture editor: Vashti Newcomb Senior designer: Colleen Chin Quan Graphic designer: Emma Staughton National managing editor: Alice Stolz Group director, Consumer: Jason Chuck Chief executive officer: Jason Pellegrino

HOT PROPERTY

DESIGN DIGEST Refined minimalism

FEATURE STORY Residential sales: Queensland Brad McLeod 0429 571 826 New South Wales Belinda Sinclair 0414 580 903 Victoria & Tasmania Ray van Veenendaal 0438 279 870 Western Australia, South Australia & Northern Territory Jeroen van de Peppel 0427 292 797

Hinterland havens

7 8

Digital edition Visit domain.com.au/ digitaledition

COVER STORY Rivers of luxury O U R COVE R 139 Alexandra Ave,

LIVING IN Fashion and function in South Yarra

South Yarra Listed by Kay & Burton PAG E 10

4

PR E ST IGE

THE PROPERTY INVESTOR Buying into NDIS accommodation

10 13 15

Sassafras Melbourne / 4 Chudleigh Crescent $8 million-$8.8 million

3

3

6

For sale: Private sale Agent: Peninsula Sotheby’s International, Rob Curtain 0418 310 870 Chateau Jardin Parfume is a French-inspired residence set on 2400 square metres in the Dandenong Ranges. The elaborately decorated home has only recently been renovated and is being sold fully furnished.

Fingal Head

Beaumaris

Tweed Heads 34-36 Queen Street

Melbourne

$11.95 million

$5 million-$5.5 million

6

5

4

5

3

6

Coral Avenue 3

For sale

Expressions of interest: Close August 3

Agent: Queensland Sotheby’s International Realty,

Agent: Hodges Real Estate Beaumaris,

Dominique Vasers Williams 0437 140 479

Michael Cooney 0418 325 052

This glamorous beach house feels like a high-end resort with its award-

This award-winning home from Clare Cousins

winning pool and spa. The property has a choice of indoor and outdoor

Architects is packed with drool-worthy

living spaces plus direct access to two beautiful beaches.

inclusions, including a Japanese tiled pool.

PR E ST IGE

5

DESIGN DIGEST

Refined minimalism Characterised by simplicity, clean lines and neutral palettes, minimalist design is timeless. C o m p i l e d b y PAU LIN E M O RRIS SE Y MODERN CLASSIC Norwegian brand Eikund – founded on the desire to uncover hidden design classics – presents the Veng Armchair, designed

by Torbjorn Bekken in 1960. Made from wood and leather, it has a slender, curved backrest and highly sculptural armrests. stylecraft.com.au

TOP SHELF Minimalist in its appearance, yet limitless in its functionality, the Vertio Wall System by King is fully customisable. Vertical poles allow shelves and cabinets to be positioned as desired, with the added versatility of two mounting options. kingliving.com.au

CLEAN LINES

SOFTLY DOES IT A new addition to Armadillo’s luxurious Heirloom

Inspired by the

Collection, the Odessa Rug is made from hand-knotted Afghan wool,

aesthetics of classic

unrivalled in its softness. With textural intricacies and a refined palette,

Scandinavian lighting,

it’s intended to wear beautifully over time. armadillo-co.com

the LU Pendant Light, designed by Beaverhausen for Denmark’s WOUD, strikes a beautiful balance between a bold, vertical element and a slim, circular light source. rjliving.com.au

PR E ST IGE

7

FEATURE STORY

8

PR E ST IGE

L

uxury estates in the heart of south-east Queensland’s hinterland are on the cusp of a renaissance that’s catapulting property prices through the canopy for the first time in 10 years as demand for a home among the gum trees booms.

From the Sunshine Coast’s languid rural suburbs to Brisbane’s sylvan pockets and the Gold Coast’s acreage escapes, multimilliondollar abodes are fetching up to twice as much as two years ago, with days on market halved.

For Ton Wolf of Professionals Serendipity Tamborine Mountain, the tree-change trend regenerated just months ago, sending house prices in the hinterland haven skyward by 20 per cent.

“This tree change is from people coming from Brisbane and the Gold Coast who want to escape the suburban life since COVID – especially since they can work from home,” he says.

Wolf is selling the magnificent hideaway at lot 4/163 Curtis Road, Tamborine Mountain, for offers over $3.985 million and says interest has

Havens of the hinterland Homes among the trees of rural south-east Queensland are proving irresistible to suburban escapees.

B y SAR AH WE B B

been strong following months of top sales. It’s a tale that couldn’t be more different to the one woven a decade ago when the state’s acreage market was at a crawl.

Ray White Samford agent Brett Crompton says that back then, luxury acreage homes not only fetched less but took more than a year to sell.

“Days on market have almost halved in some cases … I think within the next 12 months, the general area of Samford will see a larger influx

of interstate buyers once they realise that we are just over 30 minutes from the CBD … already they are shocked by the value,” Crompton says.

Samford – alongside other Queensland acreage suburbs such as Chandler, Belmont and Gumdale – has long been a haven for locals. But as interstate migration soars, Crompton says southern buyers are being lured by the serenity and prices.

Crompton is marketing the property at

Closeburn Brisbane 1830 Mount Samson Road $2.99 million+

5

4

2

For sale Agent: Ray White Samford, Brett Crompton 0413 744 237

1830 Mount Samson Road, Closeburn, above; 28 Mountain Top Court, Mons, top right; 4/163 Curtis Road, Tamborine Mountain, above right.

Mons 1830 Samson Road, Closeburn for offers over $2.99 million and says the home perfectly encapsulates the high-end properties on offer in the area.

If it sells for the asking price, the property could set a new price record for the region, which currently sits at $2.8 million for 5 Cannington Court, Samford Valley, which was sold in May. Away from the Gold Coast’s blonde dunes, in Tallebudgera, Tallai, Currumbin and Maryvale, prestige property prices have soared by up to 100 per cent in two years.

John Fischer of PRD Real Estate Burleigh Heads says the past six months have been particularly intense, with locals leading the property charge.

“In Maryvale, I recently sold a home for nearly $2 million, and [the owners] bought it two years ago for $1.05 million,” Fischer says.

“In March, I sold 22 Kooringal Court, Tallebudgera, to a local buyer for $3.8 million, and that was a standout sale because it was just on one acre … another one was at 757

Tallebudgera Creek Road, Tallebudgera Valley.

We sold that in March for $5 million to a local.”

The latter – a five-bedroom estate on a 38,700-square-metre lot – broke the suburb price record according to Domain, with other top results also recorded in the past few months.

On the Sunshine Coast, Oscar Noble of Noble Estate Agents says he has witnessed a similar renaissance.

“We have seen a huge increase in demand … unique prestige properties that may have taken three to six months to sell in the pre-COVID market are now generally selling in a month or two,” Noble says.

“The combination of interstate migration, low interest rates and strong buyer sentiment has been the recipe for an incredible sellers’ market.”

He is selling a Mediterranean-style mansion for “buyers from $3 million” at 28 Mountain Top Court in Mons (inland from Mooloolaba) with steady interest thanks to the home’s size and unique design. The suburb record was smashed only in January this year with the $4.335 million sale of 52 Serene Close.

Sunshine Coast 28 Mountain Top Court $3 million

5

4

3

For sale Agent: Noble Estate Agents, Oscar Noble 0403 093 004

Tamborine Mountain Gold Coast 4/163 Curtis Road $3.985 million

4

3

2

For sale Agent: Professionals Serendipity Tamborine Mountain, Ton Wolf 0424 591 012

PR E ST IGE

9

APARTMENT LIFE

B y K ATE J O N E S

COMO TERRACES 139 Alexandra Avenue, South Yarra Architect: Carr Developer: Cbus Property & Sterling Global Interior designer: Carr Landscape architect: TCL Number of residences: 39 – four two-bed; 34 three-bed; one four-bed Internal sizes (sqm): Two-bed 129-130; threebed 171-293; four-bed 323

An urban retreat that’s naturally chic

External areas (sqm): Two-bed 12-65; threebed 19-220; four-bed 45 Prices: Two-bed $2.3m-$2.7m; three-bed $3.3m-$6.3m; four-bed $7.65m Car parking: Two-beds

A new development offers unbeatable views from apartments whose earthy, contemporary interiors were inspired by the Yarra.

have two car spaces; three-beds have two car spaces; larger three-beds and four-beds have

N

three car spaces Completion estimate: 2024 Agent: Kay & Burton, Damon Krongold 0418 850 757 and Peter Kudelka 0418 319 439 Open for inspection: Display suite at 61 Kensington Road, South Yarra, is open by private appointment

10

PR E ST IGE

All 39 apartments at Como Terraces offer vistas of the city skyline, the river or lush landscaping.

ot every new apartment offers a residency beside a beloved Melbourne icon. But that’s just what’s on offer at Como Terraces, a 39-apartment development opposite the Yarra River.

The two, three and four-bedroom apartments are spread across eight separate buildings. Each three-storey building contains no more than eight apartments.

A central path and stairway wind their way through the landscaping to the doors of each building. Residents will also be able to

access their homes by taking the lift from the basement garages.

Every apartment has a view either across to the river, over to the city or out to landscaping.

This is thanks to the slight fall of the land towards the Yarra and the different angles of each building’s position.

Architecture and interior design by the team at Carr has been heavily influenced by the Yarra, with landscaping based on the native flora found on the riverbanks. Natural finishes and textures lend earthy tones to the exterior

S PECI A L F E AT UR E

and refined luxury to the interiors. Starting at $2.3 million and rising to $7.65 million, the apartments feature European oak timber finishes with travertine stone on the kitchen island benches and main en suite vanities.

Private gardens are attached to the groundfloor residences, while elevated terraces have spacious balconies to take in the city skyline.

Each residence can be upgraded to include a range of extra features such as separate laundry spaces, integrated fireplaces, baths, built-in bars and libraries or home offices.

The appeal of the home office, even in the post-COVID-19 future, was factored into the design, said Adrian Pozzo, chief executive of developer Cbus Property.

“We’ve accepted that the office will probably be a three or four-day-a-week prospect and staying at home will be a one, two or maybe three-day-a-week arrangement for many people.

So, we’ve attempted to provide as much amenity in the facilities as possible and locality is important as well,” he says.

The amenities include a residents’ lounge,

private dining room, communal gardens and concierge services such as laundry services, dog walking, car detailing, floral arrangements, private chef and private car services.

“There are all these common-access amenities so, should the residents want to get together, they can,” Pozzo says.

“But if they’re looking for privacy, there are enough outdoor private gardens and pathways.”

And the location is hard to beat with South Yarra ticking all the boxes for CBD proximity, shopping, eateries and parks.

The city centre is just four kilometres away and a riverside walking and cycling path is across the road.

The shopping strips on Toorak Road and Chapel Street satisfy fashionistas and foodies alike with lots of boutique stores to explore as well as restaurants and cafes to choose from.

South Yarra is also synonymous with topnotch schools thanks to the likes of Melbourne Girls Grammar and the selective state school Melbourne High School. Melbourne Grammar and Loreto Mandeville Hall are also nearby.

The architecture and interior design by the team at Carr emphasises natural materials to create a sense of refined luxury.

PR E ST IGE

11

NO. 7 FIELD STREET

MT. LAWLEY

A LOVE LETTER TO MT. LAWLEY

Offering uniquely designed floorplans with city views, vast verandahs and courtyards, No. 7 features an elegant marble lined lobby and a magnificent central garden atrium.

Twenty four residences feature alongside six luxury townhomes with private courtyards with their own secure street front access.

Superbly detailed interiors include; • Herringbone timber floors • Feature marble kitchen and bathrooms • Skirting boards and cornices • 2.7m+ ceilings • Miele or Gaggenau appliances • Underfloor heating • Ability to personalise

Private resident amenity includes; • Parkland setting • Heated pool • Gymnasium & yoga studio • Timber-lined sauna • Luxurious dog washroom • Large private storage • Concierge-style deliveries room • Electronic vehicle charging • Solar panels

OPEN 11AM – 1PM SATURDAY, SUNDAY & WEDNESDAY OR BY PRIVATE APPOINTMENT 1/80 WALCOTT STREET MT. LAWLEY, PERTH CONSTRUCTION COMMENCING SEPTEMBER 2021.

SARAH BROLSMA - 0477 740 444

LIVING IN

37.84013° S, 144.99528° E

SOUTH YARRA

It might be renowned for its fashion, food and bars, but locals also love South Yarra for its surrounding parks. B y K ATE FARRE LLY If Toorak seems a touch too exclusive and

Room and the hatted restaurants Atlas Dining

St Kilda a bit bohemian, South Yarra, tucked

and Matilda 159 Domain.

between the two, might be just the ticket.

Craig Lawson, aka Mr Fashion Man, moved to

Melbourne 4501/1 Almeida Crescent $9.2 million-$9.75 million

designer threads, with Gorman, Scanlan Theodore, Zimmermann and Sass & Bide among

suburb’s fashion and foodie credentials. He runs

the many offerings. Lawson recommends Sam &

his business Craig Lawson Communications here

Ko for on-trend suits and stylish casual clothing

and loves the suburb’s diversity and relaxed vibe.

for men and Fourfourseven Boutique for women.

an adventure when going out with friends as to

Walkers’ paradise

where you end up,” he says. “South Yarra has

Sahhar says a major drawcard for the suburb is

everything from early-morning brunch spots and

its walkability, with South Yarra ranking in the top

late-night entertainment to cute outdoor spaces

10 of Melbourne’s most walkable suburbs in the

for chilling with friends.”

Domain Healthy Suburbs study.

3

3

6

“The locals love being able to walk to top

Spoilt for choice

restaurants, shops, parks and sports clubs in the

Lawson’s favourite haunts include Rustica

area,” he says.

Sourdough for the best strong morning brew,

South Yarra

Iconic Chapel Street is also the place to go for

South Yarra nine years ago, drawn by the

“Chapel Street is full of life, and it’s always like

YOU MAY LIKE ...

For sale

Lawson agrees. “I find the location is very

Leonard’s House of Love, a laid back,

central and handy for public transport, so I don’t

Agent: Kay & Burton South Yarra,

’70s-inspired space, for drinks and Cosi Bar

need to own a car,” he says.

Andrew Sahhar 0417 363 358

Ristorante for its fabulous Italian hospitality. He’s

Bordered as it is by the Royal Botanic Gardens,

This north-facing, 45th-floor LK Tower

also a fan of The Emerson, a ritzy club and

the green expanses of Fawkner and Como parks

apartment has panoramic views from the bay to

cocktail bar on Commercial Road.

and the Yarra River, there’s no shortage of

the Dandenongs. Residents have access to the

parkland for exercise and enjoyment.

six-star facilities of the exclusive Azure Club.

“The rooftop of The Emerson is a stunning hidden spot with the best views of the city and the most gorgeous space to hang out and have drinks with friends,” he says.

The CBD is only four kilometres from South Yarra. St Kilda Pier is 2.5 kilometres away.

Properties range from large character homes to

South Yarra strikes the

new luxury apartments, which are attracting

right note between

Hover your camera over the

says South Yarra is home to some of Melbourne’s

downsizers and young professionals looking for

exclusive Toorak and

code to see Domain listings

best restaurants, including Omnia, Steer Dining

low-maintenance living close to amenities.

bohemian St Kilda.

in South Yarra

Kay & Burton South Yarra agent Andrew Sahhar

PR E ST IGE

13

‘Dalry House’ DARLINGTON Western Australia

The Dalkeith of Darlington 72 Lionel Road, Darlington, Western Australia • • • • •

An architectural masterpiece combines history and modern day 1913 cottage merged with a 2014 executive residence 745sqm of living in a Perth paradise, 20 min from airport 5 bedrooms, 4 ensuites, theatre and wine cellar 1.24 hectares (3 acres) with high wall privacy

$7,000,000

• Pool house with 13 x 6m heated infinity pool which links to the main residence • Architect designed stately gardens with 700,000 litres of water storage • Tennis court and bocce court plus a games room • State of the art smart wiring throughout

Inspection by appointment only The Agency Patrick Harper M: 0413 440 107 E: partrickh@theagency.com.au W: www.theagency.com.au

Garland International John Garland M: 0418 923 347 E: johng@garlandintl.com.au

www.garlandinternational.com.au

THE PROPERTY INVESTOR

Disability housing could be a win-win There are plenty of benefits to investing in NDIS properties – not least that you’re helping someone in need. B y SU E WILLIAMS

L

Before investing in NDIS supported housing, you should check that the property is in an area with suitable tenants.

ooking for a property investment that could make you feel as good as the returns it promises?

As one of Australia’s leading advocates for investment in National Disability Insurance Scheme (NDIS) housing, SMSF Loan Experts founder Yannick Ieko claims it’s the perfect proposition.

On the surface, it offers definite benefits: higher than average market rents with yields of up to 18 per cent; returns guaranteed by government; long tenancies; and limited availability.

Then there’s that something extra that’s priceless – knowing you’re providing a quality, specially designed home to make life for someone with a disability more comfortable.

“I would like to think that people might be driven by the ethical nature of the investment, but I think it’s more to do with the net yield that can’t be touched by most investment assets,” Ieko says. “There are double-digit growth returns too, and with the federal government involved, it’s a pretty safe investment.

“So, feeling good will normally be more of a by-product of the investment, knowing you’re building accommodation for a person with a disability, and usually a younger person who might otherwise have to live in a hospital or an old folks’ home, which isn’t suitable at all.”

“With the federal government involved, it’s a pretty safe investment.”

Tenants pay a percentage of their disability pension in rent, which the NDIS tops up to a higher-than-average market rent. Supported independent living accommodation is in short supply in Australia, so there are always going to be tenants eager to take on leases, and most will

stay for as long as you’d like. Usually, when owners of this type of housing want to cash in their stake, they’ll sell to another investor. It’s also perfectly possible to convert it to sell it as a regular residence by taking out some of the living aids.

“There’s a lot of upside there, but I’d say you need to do your research and due diligence to make sure the area where the property is being built will have a pool of suitable tenants,” says Hovig Evanian of SmartMoney Wealth Management. “In the right area, it can definitely make sense when you’re looking for cash flow.”

Potential investors should still apply the same fundamentals as they would to any other property purchase, says Andrew Zbik of CreationWealth. “You need to make sure it’s in a location that makes sense, near public transport and near amenity. You have to remember: schemes can change, and you want to be able to sell if you need to cash out.”

One hurdle to investors is the low number of lenders willing to provide finance for NDIS properties and, when they do, they’ll offer only 80 per cent.

Marion Mays, the founder of the Thalia Stanley Group, says that banks may put a lower value on the homes, too, as there are unlikely to be comparable ones in the same area.

“But they can be a great investment if you can afford the initial capital outlay,” she says.

“And particularly if you have a strong social conscience.”

PR E ST IGE

15

36 Jenkins Court UPPER COOMERA

View By Appointment

Perched high on a mountain vista offering undoubtedly the best views on the Gold Coast.

Panoramic unsurpassed ocean and hinterland vistas unfold over 20* glorious acres.

This awe-inspiring residence offers a sense of privacy and tranquillity, whilst effortlessly linking contemporary serene living with its surrounds.

This exclusive estate has been enjoyed as a family retreat by A-list celebrities, CEOs, and executives and their children and now on offer.

36 Jenkins Court is an architecturally designed masterpiece. Focusing on ultra-modern clean lines and a neutral palate, it spans over three elegant levels with ample room for the extended family or regular guests. The unique location positions you 5 minutes from the M1, 30 minutes to Brisbane, and 20 minutes to the beach.

0437 533 943 colleen@amirprestige.com.au 0430 968 915 nick@amirprestige.com.au

MILTON ’Milton Meadows’ 267 Princes Highway & Windward Way A landmark opportunity to develop an exciting Local Government DA approved Seniors Living master planned community in the heart of the NSW South Coast. As one of only two DA approved ready-to-build sites of this magnitude on the whole of the Eastern Seaboard of Australia, this architect designed project, approved by Local Government, is nestled on a prime 14.88ha site, just moments from the beautiful streetscapes of historic Milton. The project can be developed immediately or over three stages, it will deliver an 89-bed Aged Care Facility and 260 Independent Living Units, comprising both 133 low-rise apartments set over seven buildings, plus 127 duplex/triplex dwellings in a range of configurations. This unprecedented project will include a Clubhouse, Medical Centre, coffee shop, restaurant and recreational room for indoor activities plus gym and swimming pool. Designed to reflect the relaxed coastal ambience and local heritage of the area, ’Milton Meadows’ will overlook a man-made lake and be surrounded by native gardens and sea views.

For Sale View

Expressions of Interest Closing Tuesday, 17th August 2021 Contact Agent David Medina 0419 772 233 Francis Egan 0411 874 625

All information contained herein is gathered from sources we deem to be reliable. However we cannot guarantee its accuracy and interested parties should rely on their own enquiries.

There’s no home like a snow home...

5 SKYLINE TERRACE MOUNT HOTHAM 4

3

2

Enquire Now

Exceptional in Finish and Design, Unrivalled on Location This brand-new free-standing freehold four-bedroom chalet has been designed from the ground up for the family that demands the space to entertain and enjoys the company of friends while on holiday at Australia’s premier mountain.

Private Sale Viewing By Appointment

John Castran 0411 502 424 john@castran.com.au

Lachlan Castran 0475 000 888 lachlan@castran.com.au

www.castran.com.au

Coastal

T Trigg

What we love

What to know

Who to talk to

11 King Albert Road

One-in-a-million block, first time

Set Date Sale.

elevated, positioned on one of the most iconic locations with potential 180-degree panoramic ocean views never to be built out. Located just

Inspect Saturday & Sunday 11:00-11:45am

Sean & Jenny Hughes 0402 453 899 Oliver Hess 0478 844 311 hughesgroup@realmark.com.au

3

1

2

880

Realmark Coastal 9203 0777 coastal.realmark.com.au

Tao Table & Tosca Armchairs by Tribu

Johanna Occasional Chair & Ottoman by Kett

Forrest Chairs, Hexagon Tables & Dala Planters

Otway Table, Armchairs & Sideboard by Kett

Rilly Cocoon Chair, Footstool, Sofa & Lounge Chair by Dedon

Stocktake Sale On Now

Mood Daybed & Dunes Side Table by Tribu

Exclusive to

Sale ends July 31st.

Luxurious furniture from leading designer brands for indoors and out.

Melbourne | Sydney | Brisbane | Perth www.coshliving.com.au