Domain Prestige - August 18, 2021

18 AUGUST / 2021

PRESTIGE THE BEST IN AUSTRALIAN PROPERTY

SOAK IN THE VIEW Glamour on the river

ARTIST IMPRESSION

EMERSONKIRRA.COM.AU

PERFECTLY CRAFTED, DISTINCTLY KIRRA This truly boutique edition of just 27 luxurious residences, designed

by Rothelowman, is coming soon to 100 Musgrave Street, Kirra.

Half floors from $2.95 million. Full floor Penthouse available.

PROUDLY DEVELOPED BY

DESIGNED BY

FURNISHED BY

APPLIANCES BY

B y K ATE FARRE LLY

Bicton Perth 20 Blackwall Reach Parade $7.5 million + ANTO NY L AWE S

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For sale: By negotiation Agent: Fine & Country Perth, Amy Gohil 0451 248 101 Maybe it’s because I’m writing this during a long COVID lockdown in

Occupying a front-row Swan River position, this

Sydney or because it’s only a few weeks until spring, but I find the properties

four-level residence comes with a host of luxury

in this week’s edition make me long for the warmer months. Whether it’s the

features including lift access, a gym, sauna and

beautiful, modern look of our cover property on Perth’s Swan River, the

steam room, a home theatre, a cellar and tasting

classic beach house in Sydney’s Bronte, the languid poolside ambience of

room, and an impressive pool.

the retreat in the Sunshine Coast hinterland, or the bright and breezy Adelaide penthouse – all on our Hot Property pages – these homes tug at my desire to up-sticks and move to somewhere warm. But it’s the home on our Living In page, which this week features Noosa, where I can really see myself parked on the deck with a cold drink in hand. And finally, there’s the wonderful Bellows House in Flinders, Victoria, in our feature story by Dana Tomic Hughes. It’s not every day you see pyramids on the Aussie coast.

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 Reflective statement pieces

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

YELLOWTRACE Pyramids of Flinders

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Digital edition Visit domain.com.au/ digitaledition

O U R COVE R 20 Blackwall Reach Parade, Bicton.

DEREK SWALWELL

LIVING IN Sunshine Coast’s crowning jewel

Listed by Fine & Country Perth PAG E 4

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PROPERTY INVESTOR The new commercial players

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Eastwood Adelaide 134/220 Greenhill Road $3.2 million-$3.4 million

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For sale: By negotiation Agent: Klemich Real Estate, Richard Hayward 0418 825 455 Holding court on top of Air Apartments’ north tower, this two-storey penthouse claims panoramic views across the city skyline, parklands and the sea. There’s a statement kitchen with Miele and Gaggenau appliances, and open-plan living spaces extending to a wraparound balcony.

Bronte

Kiamba

Sydney 4 Pembroke Street

Sunshine Coast 66 Balkins Road

$12 million

$4.2 million +

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For sale:

For sale: By negotiation

Agents: The Agency Eastern Suburbs, Bethwyn Richards 0410 322 333

Agent: Reed & Co, Kate Cox 0438 695 505

in conjunction with Sydney Sotheby’s International Realty,

Feel like you’re on top of the world at Thulani, a

Michael Pallier 0417 371 522

13-hectare retreat complete with a self-

Wake up to glorious ocean views at this Hamptons-inspired home, set in an

contained studio and pool with infinite views of

elevated position just 500 metres’ walk from the beach. Highlights include a

the valley below, located just a 25-minute drive

Miele-appointed kitchen and designer bathrooms with underfloor heating.

from the Sunshine Coast airport.

PR E ST IGE

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ARTIST IMPRESSION

THE PINNACLE OF PAR ADISE Proudly developed by Cbus Property, 443 Queen St heralds a new generation for subtropical living in the heart of Brisbane, and the last remaining penthouse is its pinnacle. )URP DUULYH KRPH WR WKH WK ³RRU ZKHUH \RXU SUHVWLJLRXV SHQWKRXVH VXVSHQGHG EHWZHHQ WKH ULYHU DQG WKH FLW\ ZLOO FHOHEUDWH XQSUHFHGHQWHG YLHZV RI WKH FLW\ VN\OLQH %ULVEDQH 5LYHU .DQJDURR 3RLQW 6WRU\ %ULGJH DQG WKH VRRQ WR EH QHZ .DQJDURR 3RLQW %ULGJH $ EHDXWLIXO EXWWHU³\ VKDSHG ³RRU SODQ HQFRXUDJHV LQFUHDVHG QDWXUDO DLU YHQWLODWLRQ ZKLOH \RX HQMR\ WKH OX[XU\ RI XS WR VTXDUH PHWUHV RI KRXVH VL]H OLYLQJ VSDFH DQG IRXU FDU VSDFHV 7KUHH PHWUH KLJK FHLOLQJV FUHDWH D JUDQGQHVV WR OLYLQJ DUHDV DQG IXOO KHLJKW ZLQGRZV LQYLWH QDWXUDO OLJKW WR \RXU IRXU ODUJH EHGURRPV DOO ZLWK SULYDWH HQ VXLWHV

1300 000 443

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FIND OUT MORE

DESIGN DIGEST

Reflective designs Coloured and shaped to play with the senses, the glamour of glass shines through in these pieces. C o m p i l e d b y PAU LIN E M O RRIS SE Y VITRAIL MIRROR BY INGA SEMPÉ A creative collaboration between French designer Inga Sempé and Italian design brand Magis, the Vitrail collection is a series of wall mirrors in different stained and shaped frames, held together by a colourful rubber fringe. dedece.com

SOFTSCAPE PENDANTS BY HELEN KONTOURIS Australian designed and manufactured, the Softscape Pendants designed by Helen Kontouris have an elegant, mouth-blown glass form. They are available in a choice of finishes and varying tones, including amber, watermelon and charcoal glass. stylecraft.com.au

STUB TABLE BY FRITZ HANSEN

VIER SIDE TABLE BY PHILIPP MAINZER Made from solid glass slabs joined together, the Vier

Designed by Mette

coloured transparent glass, crafted in dark blue or smoke grey. e15.com

Table, designed by Philipp Mainzer for e15, showcases a striking combination of symmetric shapes and

Schelde for Fritz Hansen, the Stub Table sees wood and glass merge smoothly.

A clear glass circle floats around a veneer base, and the smart design gives the optical illusion of no visible screws or mountings. cultdesign.com.au

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YELLOWTRACE

b y DANA TO MIC H U G H E S

COURTESY OF JONES

DEREK SWALWELL

Who needs views when you have pyramids?

“I

was so excited when the client told me they’d bought a site in Flinders. All I could picture in my head was the amazing clifftop location with views to the ocean until I Googled the address and the reality hit,” says Albert Mo, director of Melbourne practice Architects EAT. Mo’s excitement bubble burst as he discovered the corner block was inland, some 500 metres from the village shops, and bounded by a local path used to access the back beach.

Not the most riveting start to the project, but from the biggest challenges come the greatest triumphs, and Bellows House is just that.

The fact the clients were a family Mo and his team had worked with previously was a significant advantage. Having designed their city home seven years prior meant the trust was already there, so the architect focused on bringing his A-game.

From the outset, Mo wanted a permanent house anchored in the sand, unlike the predictable lightweight beach-house vernacular.

“More like a bunker than a shack,” he says of his desire to design a building that spoke of its location and sat in dialogue with the street.

“The idea of frustum pyramids was stuck from the beginning.”

The formal entry sequence starts from the pedestrian gate. Dusty pink brick pavers are the conduit between the native garden by Jim Fogarty Design and the built structure. Through the gap between the long facade and the garage, an outdoor shower precedes an inner outdoor sanctum connected to the living spaces.

Once inside, the two largest frustum roofs reveal their internal structure. Boomshakalaka – what a moment! The gobsmacking reversestep concrete pyramids allow plenty of natural light into the living and dining areas via the central skylights. Exposed blockwork walls and concrete floors dominate – with concrete blocks used to create shelves and light fittings, too.

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Timber joinery and brick accents bring an element of warmth and contrast, but otherwise, this is one hard-edged interior. Yet, the overall effect is welcoming, comfortable ... and cool.

Apart from the inspired furniture and lighting

by Architects EAT, Mo attributes a lot of the interior success to Swee Lim of Swee Design, who worked with the client on the art selection, which ranges from ready-made artworks and sculptures to several commissioned pieces.

“Perhaps, because this is the second home we’ve done together, the client gave me more latitude to experiment,” says Mo. “I wanted a house that offers a sense of escape, where kids can remember their summer holidays as they grow up. A house that is memorable and describable.”

While this home wasn’t blessed with spectacular clifftop ocean views like the architect initially imagined, its inland location prompted a design response focused on placemaking. The locals now affectionately refer to it as the “Pyramids of Flinders”.

“I wanted a house that offers a sense of escape, where kids can remember their summer holidays as they grow up.”

yellowtrace.com.au

PR E ST IGE

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LIVING IN

26.398300 S, 153.092148° E

NOOSA

A sea-changer’s favourite, Noosa’s natural assets have also attracted a community committed to doing good. B y K ATE FARRE LLY Rebecca Colefax was just six years old when

into a better future. “One of the reasons I love

she decided she wanted to live in Noosa.

this area so much is because of the community

Originally from Cairns, Colefax discovered the

and the people who have made it what it is

jewel in the Sunshine Coast’s crown on family

today,” she says. “So many people here are

holidays and was clearly smitten, making a note

focused on doing good.”

in her diary that came to fruition in her late 20s.

Colefax – a photographer, former women’s

EarthTech, a Peregian Beach-based company that matches impact investors to impact

reminds her how beautiful the world we live in

investments, where Colefax is general manager.

“Noosa provides a great balance between work and play,” she says. “It has the beauty, the world surfing reserve, the UNESCO Biosphere Reserve.

Sunshine Coast 33 Mossman Court 5

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Colefax lists Plastic Free Noosa and Zero

environmentalist – says Noosa constantly

Natural delights

Noosa Heads

Emissions Noosa as two examples, along with

world champion kitesurfer and passionate

really is.

YOU MAY LIKE ...

Agent Mal Cox, from Tom Offermann Real Estate, describes Noosa as safe and clean, with the perfect climate and a diverse tapestry of waterways and national parks.

Main street There’s no shortage of man-made charms on

Auction: August 28

and recreational activities and it also lends itself

offer, especially along bustling Hastings Street.

Agent: Tom Offermann Real Estate,

to wellbeing.

You’ll find hip eateries – many serving up great

Mal Cox 0407 708 860

water views alongside local seasonal food –

Boasting 38 metres of water frontage plus a boat

boutique shopping, and a selection of day spas.

ramp, jetty, pontoon and private sandy beach,

“It just has so much to offer in terms of sport

“You’ve got mountain biking, you’ve got forest, you’ve got the beaches. When you’re outdoors and doing activities like kitesurfing, biking,

Further afield there are galleries and fresh food

this two-storey home comes with a family-

walking, kayaking … the more people feel

markets. Annual festivals include NOOSA Alive,

friendly floor plan with three living zones, a home

connected to their environment, the more likely

the Noosa Open Studios Art Trail and the Noosa

office and plenty of outdoor entertaining space.

they’ll want to protect it.”

Eat and Drink Festival.

Armed with a degree in environmental science

The Sunshine Coast has attracted hordes of

Noosa has long been a

and a strong desire to forge connections

sea-changers over the past 18 months, with the

lifestyle destination,

between people and nature, Colefax is proud of

Offermann office reporting “windfall property

with its friendly climate,

Hover your camera over the

how the community and council have created a

prices” in Noosa over the 2021 financial year, with

golden beaches and

code to see Domain listings

township that is aware and willing to transition

total sales up by 40 per cent year-on-year.

unspoiled environment.

in Noosa Heads

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BLUEEDGEPROPERTY.COM.AU ROCHES BEACH 218 ROCHES BEACH ROAD

PRISTINE TASMANIAN WATERFRONT Blue Edge Property is delighted to present to the market 218 Roches Beach Road, located in tightly held Roches Beach, with absolute water frontage.

With pristine Tasmanian waterfront property in such high demand, this stunning family home presents a rare opportunity for those who have the Tasmanian Landscape at heart.

Situated on almost three hectares, this home boasts professionally manicured gardens as well as three workable paddocks. A lush and healthy creek travels one border of the property, providing a brilliant habitat for local wildlife and birds.

Within fifteen minutes the Hobart CBD and just a moment’s drive from the small town of Lauderdale, this is undoubtedly one of Tasmania’s finest properties, and is truly a once-in-a-lifetime opportunity.

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FO R SA L E O F F E R S OV E R $ 4 , 5 5 0,0 0 0 VIEW

BY A P P O I N T M E N T CO N TAC T A N D R E W W E L L S | 0 4 02 37 7 73 0 TA H L I A C A N T W E L L | 0 4 2 6 2 2 9 7 8 1 ANDREW.WELLS@BLUEEDGEPROPERTY.COM.AU 1 5 H U N T E R ST R E E T, H O B A RT, TAS , 70 0 0

THE PROPERTY INVESTOR

ELIANA SCHOULAL

Commercial sector lures new players The yields are higher than residential properties, but keep your eye on the more modest capital growth. B y SU E WILLIAMS

M

Tenants in commercial properties pay most, if not all, of the outgoings.

any mum-and-dad investors, others looking for places to park super funds, and even developers, fed up with the price of sites and low yields, are now crossing over from residential to commercial properties, lured by the promise of greater returns.

“We’re now running at about four times our normal volume of investors since COVID-19 hit,” says Scott O’Neill, director of commercial property buyers’ agency Rethink Investing. “It’s now not the usual people you’d expect investing in commercial.

“It’s really gaining in popularity and, with a lot of residential properties now delivering record low yields, it doesn’t make sense to pay out such big prices for so little return. And if you research what and where to buy and do your due diligence, there are now lots of opportunities.”

Gross rental yields on houses in Sydney, for instance, are now just 2.9 per cent, in Melbourne 3.09 per cent and Brisbane 4.58 per cent on the latest Domain Group figures.

Most commercial yields, however, tend to be higher and are net returns with the tenant

paying most, if not all, of outgoings, including land tax, rates and insurance costs.

“The returns are significantly higher than with residential at the moment,” says property valuer and investment adviser Anna Porter, the founder of Suburbanite. ”As it’s a net yield too, returns can often be double.

“It’s now not the usual people you’d expect investing in commercial.”

“Of course, capital growth can be more modest, which might be the trade-off. The capital growth in commercial tends to be tied to rental returns, and sometimes it can be slower for that profile to increase.”

But growth can always be engineered to some extent. Just as a renovation to a house or unit

can add value, a commercial property can be adapted to create multi-tenancies, a change of use, the sale of signage rights, or by adding communication towers to a rooftop.

As with every property bought, it’s important to check out the location, the tenancy, the type of business, demographic trends locally and the likely future of an industry.

Bricks-and-mortar retail generally isn’t doing too well, but many supermarkets and neighbourhood shopping centres are going gangbusters during the pandemic.

Similarly, pharmacies, medical centres and fast-food outlets all seem to be COVIDresilient and, while a number of retail businesses are failing through current lockdowns and uncertainty, even they may present opportunities.

“There’s a lot of commercial property now for sale that’s untenanted,” says Brendan Dixon, the managing director of lender Pure Finance.

“Banks tend not to like lending on that, but if an investor is in a sound financial position, they can take advantage and pick up real bargains.”

The investment profile of office stock tends to depend on its location and size, but industrial spaces are delivering huge returns.

“Industrial is undergoing a huge amount of growth, with sometimes double-digit returns,” says O’Neill.

“The logistics boom off internet shopping means more storage is needed, and there’s not enough new space being built.”

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Redevelop, Renovate or Create Your Own Estate

Commanding the most spectacular signature trophy presence, in a private cove leeside of Sheep Island nature reserve and Richard Branson’s world-famous Makepeace Island, is undoubtedly the most desirable and quintessential Noosa River hideaway.

It sits on a highly coveted 3186m2 site, gently sloping to the 36m foreshore with a high-water mark boundary. It is the absolute jewel in the crown. Refer to Internet for details.

Auction Saturday 11 September 1pm.

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S E E M O R E AT O F F E R M A N N . C O M . A U 21 Ward Street, Tewantin

Agent: Jill Goode 0418 714 653 NOOSA’S HOME OF PRESTIGE PROPERTY

Exceeding Luxury; Stroll to Hastings Street Escape for a retreat into tranquillity. Indulge in unsurpassed joie de vivre with a penthouse-style apartment, NW views across Noosa Sound waterways and beyond, plus a stroll to sophisticated Hastings Street’s bevy of boutiques and beachside restaurants.

Step out in style from the private lift. Be instantly attracted to a sandstone-paved courtyard, dazzling blue mosaic-tiled pool and bougainvillea-espaliered wall, evoking memories of Amalfi.

Auction 4 Saturday 4 September 1pm.

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S E E M O R E AT O F F E R M A N N . C O M . A U 2/31 Noosa Drive, Noosa Heads.

Agent: Jill Goode 0418 714 653 NOOSA’S HOME OF PRESTIGE PROPERTY