Domain Prestige - August 11, 2021

11 AUGUST / 2021

PRESTIGE THE BEST IN AUSTRALIAN PROPERTY

A GREAT ESCAPE The be s t in coa s tal living

Johanna Occasional Chair, Otway Sofa, Trestle Coffee Table & Side Table by Kett

Johanna Occasional Chair & Ottoman by Kett

Otway Table, Armchairs & Sideboard by Kett

Frame Living System (Wall Unit) , Otway Coffee Table, Johanna Ottoman & Glenaire Swivel Chair by Kett

Australian Designed & Made Sale On Now. Experience the best Australia has to offer.

Glenaire Swivel Chair & Otway Side Table by Kett

Otway Three Drawer by Kett

Exclusive to

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

Johanna Occasional Chair, Otway Sofa, Trestle Coffee Table & Side Table by Kett

Johanna Occasional Chair & Ottoman by Kett

Otway Table, Armchairs & Sideboard by Kett

Frame Living System (Wall Unit) , Otway Coffee Table, Johanna Ottoman & Glenaire Swivel Chair by Kett

Australian Designed & Made Sale On Now. Experience the best Australia has to offer.

Glenaire Swivel Chair & Otway Side Table by Kett

Otway Three Drawer by Kett

Exclusive to

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

B y K ATE FARRE LLY

Dutton Park Brisbane 9 Borva Street $4 million + ANTO NY L AWE S

5

4

3

For sale by negotiation Agent: Place Estate Agents, Judy Goodger 0438 767 377 Once COVID is a distant memory there will still be that urge felt by

At this riverfront residence, spectacular outdoor

many of us to flee the city for the wide-open spaces, where the pace of

entertaining spaces come hand-in-hand with

life is a little slower. Our Living In feature this week is on one those areas

787 square metres of accommodation across

loved by Melburnians, the Mornington Peninsula, and specifically the

four levels. Highlights include a private pontoon, a

beautiful locality of Fingal, where our cover property sits. Known for its

horizon-edge lap pool, a Miele kitchen, a home

golf courses and lush paddocks, it’s in that sweet spot close to the

office with a separate entrance, and a large

fashionable holiday towns of Portsea and Sorrento but not too far from

rumpus room with a kitchenette.

the city, should you need to return. And, speaking of sweet spots, our feature story this week looks at some of Queensland’s unique homes that marry lifestyle and luxury. For those looking for ideas on investing, our writer Sue Williams looks at why house-and-land packages are gaining popularity.

Acting editor: Antony Lawes alawes@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 Ahead of the curve

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

FEATURE STORY Queensland’s unique homes

7 8

Digital edition Visit domain.com.au/ digitaledition

ISTOCK

O U R COVE R 12 Lahinch Drive, Fingal

LIVING IN The Mornington Peninsula’s finest

Listed by Kay & Burton Flinders PAG E 11

4

PR E ST IGE

PROPERTY INVESTOR House-and-land packages

11 13

Killara Sydney 41 Stanhope Road $11 million

6

5

4

Forthcoming auction Agent: McGrath Lindfield, Glenn Curran 0418 437 896 Within easy reach of top schools, this single-level Federation home is on a massive 3661-square-metre lot complete with a pool, tennis court and manicured gardens. It comes with a separate games room and studio.

Galston

Unley

Sydney 36 Crosslands Road

Adelaide 15 Thomas Street

$5 million-$5.5 million

$1.85 million-$1.95 million

7

4

4

3

2

2

For sale by negotiation

Auction: August 14

Agent: LJ Hooker Dural, William Brush 0407 696 022

Agent: Williams Real Estate,

A renovation inspired by Hamptons aesthetics has elevated this Hills estate

Stephanie Williams 0413 874 888

with a pool and tennis court to a new level of luxury. With five separate living

This circa-1900 sandstone villa has been given a

zones in the main residence plus an entertainment pavilion and a self-

glamorous makeover by Urban Habitats and

contained flat, the two-hectare property is a dream find for large families.

Sofiaa Design, with open-plan living spaces.

PR E ST IGE

5

DESIGN DIGEST

Ahead of the curve A refreshing alternative to the straight line has re-emerged in the world of design. C o m p i l e d b y PAU LIN E M O RRIS SE Y REFLECTIONS With intriguing, organic curves that add a layer of interest to any space, the Solomon Mirror by McMullin & co. is a welcome change to harsh right-angles. It is available in two different sizes and made from cane and glass. mcmullinandco.com

CATCHING WAVES Sculptural in appearance and timeless in design, the Wave Chair, by Rachel Donath, was inspired by celebrated European designers. Handmade with a lightweight metal frame, each chair is finished with a cushion upholstered in sustainably sourced burlap. racheldonath.com.au

LIGHT IT UP

SIMPLY BEAUTIFUL Inspiration for the curves of the Cabin Modular

Designed by Marseille-

Lounge, designed by Sarah Gibson and Nicholas Karlovasitis, came from the

based Honoré Deco,

simple intersecting patterns found in log cabin constructions. The modular

the Ibiza Pendant

design allows for various angles and corner arrangements, offering a sense

presents a delightful

of warmth and welcome. designbythem.com

contrast between its black iron structure and raffia weaving, with added playfulness achieved through its scalloped edges. tigmitrading.com

PR E ST IGE

7

FEATURE STORY

8

PR E ST IGE

A

s the appetite for unique high-end homes across Queensland roars beyond insatiable, the world’s attention is turning to some of the state’s most interesting luxury abodes – from historic manors in Brisbane to opulent coastal chalets.

Just a stone’s throw from the pristine Whitsunday Islands, a sprawling mega mansion at 5/383 Mandalay Road, Airlie Beach, has accrued incredible buyer interest from across the globe thanks to its exclusive location surrounded by national parks and the Coral Sea. Marketed by Mark Beale, of Ray White Whitsunday, it features a private helipad and an extravagant 200-square-metre main bedroom.

On the Gold Coast’s exclusive Sovereign Islands, Isaac Kim of Ivy Realty has just listed a French-colonial inspired mega-mansion at 17 Queen Anne Court with a whopping 1035 square metres of interior space.

Featuring wainscoted walls, coffered ceilings and shell-inspired French artisan lighting in the

It doesn’t get much better than this The desire for unique and interesting luxury properties across Queensland has never been stronger.

B y SAR AH WE B B

spherical main bedroom suite, the home oozes a high-end sophistication that Kim says is being embraced by prestige buyers more than ever.

“Buyers want comfort now … they can’t spend their money overseas, so they’re spending it on their homes,” he says.

The property will go to auction on August 22 in a move that speaks volumes about the appetite for unique high-end homes – properties

of that calibre have traditionally been marketed in a private treaty campaign that lasted months, if not years.

In one of the Sunshine Coast’s strongest performing pockets, Sunshine Beach, a remarkable two-bedroom beach house recently hit the market for offers over $3 million thanks to its distinctive coastal design.

Century 21 Conolly Hay Group principal Mike

Airlie Beach Whitsundays 5/383 Mandalay Road Circa $20 million

7

9

5

For sale: By expressions of interest Agent: Ray White Whitsunday, Mark Beale 0404 498 790; Christie’s International Real Estate, Ken Jacobs 0407 190 152

Sunshine Beach 5/383 Mandalay Road, Airlie Beach, above; 17 Queen Anne Court, Sovereign Islands, top right; 16 Adams Street, Sunshine Beach, above right.

Hay is selling 16 Adams Street and says that within the first four days of marketing, he received roughly 100 email inquiries.

“This home has had some of the highest inquiry we’ve had on any property we’ve listed this year … and I think it’s probably because of the mixture of the modern and the original and the shape of the quintessential Australian beach house,” Hay says.

“As soon as you walk in, you feel that lovely beach vibe … in fact, you’re pretty much on a sand dune. The owner is a surfer, and she loved the idea of walking out the back gate to the beach break. It even has surfboard storage.”

Down south in Brisbane, one of the city’s most unusual and oldest manors hit the market just weeks ago in a landmark move that sparked a buyer frenzy.

Looking like the beloved family mansion of a Jane Austen protagonist, 18 Tarranalma Avenue in Clayfield offers Victorian elegance in one of the city’s blue-chip pockets. The five-bedroom

manor is tipped to sell quickly thanks to the sheer rarity of the offering.

Selling agent Marianne White of Ray White Ascot says what makes homes such as Tarranalma so compelling is that they are unlikely to be replicated due to the prohibitive cost involved. “She’s something special, and prestige buyers are searching for something very special,” she says.

It’s a sentiment shared by joint managing director of Place Estate Agents Bulimba, Sarah Hackett, who says local and overseas homehunters are pouncing on rare luxury pads across the city at a higher rate than ever.

“We launched 107 King Arthur Terrace in Tennyson to top offers two weeks ago, and we’ve already received three contracts above $10 million,” she says. “There never used to be $2 million sales two years ago in Brisbane … now, the strongest offer is from a local buyer, but we have an overseas buyer with an offer that’s strong, and a Sydney couple as well.”

Noosa 16 Adams Street Offers over $3 million

2

3

1

For sale: By negotiation Agent: Century 21 Conolly Hay Group, Mike Hay 0417 624 059

Sovereign Islands Gold Coast 17 Queen Anne Court 4

5

7

Auction: 1.30pm, August 22 Agent: Ivy Realty, Isaac Kim 0433 268 046

PR E ST IGE

9

LIVING IN

38.39636° S, 144.85378° E

FINGAL

There is plenty of golf to be had in Fingal, but there is much more to this hidden gem on the Mornington Peninsula. B y K ATE FARRE LLY You’d be forgiven for thinking you need to be

YOU MAY LIKE ...

Fingal

Koster splits his time between a Melbourne

golf-mad to call Fingal home. Playing host to the

apartment and the peninsula, spending two to

Moonah Links and St Andrews Beach golf clubs,

three days in the city each week. This, Hines says,

Mornington Peninsula 12 Lahinch Drive

this small Mornington Peninsula community has

is a popular approach taken by residents, who

$2 million-$2.2 million

more greens than main roads.

become enamoured of the lifestyle and want to

But while Kay & Burton Flinders agent Andrew Hines agrees the area is a golfer’s paradise –

how to work successfully from home and that we

Mornington Peninsula – he says Fingal’s very

don’t need to travel so much,” he says. “People

central location is one of its key drawcards.

are only travelling into town two or three days a

about 20 minutes from Flinders and Red Hill,” Hines says. “So, for a lot of people who move

economy opened all year round.”

Growing amenity

family might be, and what they might do when

Hines says there’s very little on offer in Melbourne

they’re down here.

that you can’t get down on the peninsula, from

you’ve got sailing and beaches, and it goes without saying that you’re surrounded by all of the golf courses.”

Country meets coast Retired builder Homer Koster chose Fingal for its country-like ambience.

“We have lovely country views in Fingal – we

3

week, [turning] the Mornington Peninsula into an

here, it offers flexibility for where friends and

“The wineries and bushwalks aren’t far away,

3

“What we’ve learned in the past 12 months is

there are, in fact, 18 golf courses on the

“It’s 15 minutes from Portsea and Sorrento and

5

spend more than just weekends on the peninsula.

live music, great pubs and restaurants to art For sale

galleries, day-spas and nurseries.

Agent: Kay & Burton Flinders,

This month an impressive $37 million aquatic centre, Yawa, opened in Rosebud, and popular

Andrew Hines 0400 630 630

pizzeria 400 Gradi has just opened a sprawling

On a 1318-square-metre block within the Moonah

venue in Main Street, Mornington, with a

Links Estate, this striking home has panoramic

restaurant, bar, gelateria and delicatessen.

views over the fairways. It comes with a designer

Of course, the region’s growing popularity

kitchen, two main suites and a mineral pool.

means real estate stock across the whole of the

don’t look over the golf course, but out over

peninsula is in high demand, and the limited

farmland and our one neighbour is hidden behind

number of properties is driving prices north.

12 Lahinch Drive, above, offers the best of the

Hover your camera over the

roaming around. It’s a lovely place to live; you do

of [owning] a property on the Peninsula, work

Mornington Peninsula

code to see Domain listings

feel like you’re in the country away from it all.”

from home and enjoy the lifestyle,” Hines says.

lifestyle.

in Fingal

trees,” he says. “Every day we count the cattle

“It’s a real luxury when you’ve got the flexibility

PR E ST IGE

11

THE PROPERTY INVESTOR

MARC PRICOP

The ‘new’ approach to investing House-and-land packages were once snapped up by first-home buyers, now investors are getting in early. B y SU E WILLIAMS

T

As apartments fall from favour, investors see strong potential in new free-standing houses.

raditionally, the holy grail of property investing has always been land. Today, with COVID-19, the lure of owning your own piece of dirt has never been stronger – or returns higher, compared with townhouses and apartments.

“Tastes shifted over the past few years into investing in apartments, but with higher vacancy rates and oversupply in some areas, the focus is now much more back on houses in suburban areas,” says John Sheehan, general manager of MetInvest and Invest by Metricon.

“I’ve bought a number of them and rent them out myself and you do get a good return. There are tax advantages, you get higher depreciation on a new build and our product comes with a full lifetime structural warranty.

“For resale, they can also command a higher price than older houses in the suburbs.”

This month, Metricon has released special “rent-ready”, full-turnkey new home-and-land packages for investors in Victoria and Queensland, with NSW to follow later this year.

It follows a surge in the numbers of investors looking at house-and-land packages throughout

Australia for both yield and capital growth.

Shortages of currently available land sites and long delays in the rezoning process, coupled with strong demand, have led to predictions of continued strong prices.

The Monarch Investments Group of Companies chief executive, Peter Icklow, says

“We’re now getting a lot of investors, particularly those using their super.” the company has only 50 house-and-land packages left for sale at Bardia in Sydney’s south-west.

“Land that was $200,000 five years ago is $450,000 today,” he says. “We sold the first house at Bardia seven years ago at $325,000 and one just sold last week for $800,000.

“Real estate is a long-term, five-to-seven-year investment and we’re now getting a lot of investors, particularly those using their super.”

While house-and-land packages in new communities have, in the past, been the main province of entry-level, owner-occupier buyers, turnkey, ready-to-go products are increasingly appealing to investors.

At Allam Property Group, sales manager Adam Wellington says tenants love renting brand-new houses, particularly those on smaller lots that don’t require much maintenance.

“We’re finding investors often now buying in the first stage of a four-year project, when prices are at their lowest as there’s no real infrastructure at that stage,” he says. “By the time we finish, the price of their home has gone up substantially, sometimes by well over $200,000.”

At the company’s Killarney, Box Hill development in Sydney’s north-west, for instance, one of the company’s most expensive sites, a 300-square-metre block with a fourbedroom house, started out at $800,000 three years ago. Today, it’s selling for $1.05 million to $1.1 million.

“Another thing that’s popular with investors is buying display homes on our sites,” says Wellington. “We sell them to investors and then lease back for the period of the estate, maybe five years, with about a six per cent rental return. And, at the end, they get a brand new house that has gone up in price.”

PR E ST IGE

13

Front Row at Wyuna Preserve, Queenstown

Land: 2.73 ha (more or less)

Lot 7 Wyuna Preserve, Glenorchy

VIEW: nzsothebysrealty.com/QBS12545

Approximately 40 minutes drive from the hustle and bustle of Queenstown lies the private rural lifestyle setting of Wyuna Preserve. This secluded outpost with exceptional scenery and broad lake vistas, is the choice of location for the discerning buyer.

PRICE: NZD$2,600,000

Lot 7 offers a front row position, with true 360 degree lake and mountain views along with access to the community clubhouse at Lake Fyfe, complete with gym, pool and entertainment areas. A contemporary house concept has been developed by local Queenstown architect Ben Hudson Architects with our offshore owners to fully take advantage of the sites attributes.

If you are seeking privacy and sophistication in a world class wilderness environment then enquire now.

(Photos include render of house concept plans)

nzsothebysrealty.com Each Office Is Independently Owned And Operated. Browns Real Estate Limited (licensed under the REAA 2008) MREINZ.

MATT FINNIGAN M +64 21 199 7669 | matt.finnigan@nzsir.com RUSSELL REDDELL M +64 21 355 291 | russell.reddell@nzsir.com

Noosa Sound Jewel on Private Beachfront

Indulge in the ultimate lifestyle with abundant living spaces, morphing to 90 degrees in a seamless fashion to an outdoor room and terraces, fanning wider to a boat ramp and lawn on the right and a timber deck which extends to a T-shaped jetty in-between. And what’s on either side? A glistening 38m beach on the whisper-quiet side of the Noosa Sound waterway.

Auction Saturday 28 August 11am 5

4

3

S E E M O R E AT O F F E R M A N N . C O M . A U 33 Mossman Court, Noosa Heads.

Agent: Mal Cox 0407 708 860 NOOSA’S HOME OF PRESTIGE PROPERTY

Shortlist and share your favourite properties Tap the star to save properties you love, and invite someone to shortlist with you.

Download the app

kayburton.com.au