Palace Report April 2014 Issue 01

p lace I N N E R S O U T H E A S T E R N R I V E R F R O N T A N D H I G H E N D P R O P E R T Y R E P O R T: A P R I L 2 0 1 4

OUR PLACE IN THE MARKET

A BOURNE MONEY-MAKER

HAWTHORNE’S GOURMET GARAGE

2013, the year in review & the outlook for 2014 and beyond.

Actor Jeremy Renner flips Great Gatsby-style LA mansion

Home cooked gourmet meals are the latest addition.

INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

Oriented to capture the exceptional 180 degree views of the Brisbane skyline and surrounding suburbs, it truly is one of a kind.

DIVE IN

This unique architecturally designed home takes full advantage of its secluded hilltop position.

O

riented to capture the exceptional 180 degree views of the Brisbane skyline and surrounding suburbs, it truly is one of a kind.

The outdoor lounge area offers respite from the busy world below.

A statement in design with inspiration drawn from the island resorts of Asia.

Secluded outdoor spaces framed by lush greenery, capture an array of backdrops across three levels. The signature wetedge pool and resort-style design ethic has created multiple vantage points to enjoy the breathtaking views.

Superb attention has been paid to the finest details to ensure you enjoy the resort lifestyle every day including open fireplaces, tropical bar with cold room, cellar with aquarium viewing window, state-of-the-art home automation, sauna, gymnasium and home cinema.

The home sits comfortably high amongst the treetops.

Truly a world away from the ordinary.

The penthouse style master retreat occupies an entire level with a private balcony and dramatic views. Think of it as your own private oasis within your own private resort.

This amazing home at 10 Massey Street, Ascot is currently being marketed by Damian & Sarah Hackett, call them on 0488 355 553 or email hackett@eplace.com.au The master ‘Penthouse’ level.

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INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

INSIDE 2

Dive in.

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Our place in the market.

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Top ten sales in the Eastern suburbs 2013.

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Refuel: Hawthorne Garage

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Numero Uno: Brisbane’s most expensive home.

12 A Bourne money-maker.

13 $52m home sale biggest in Australia.

14 Lighthouse.

13 Widescreen.

4 Welwyn Crescent recently sold by Damian & Sarah Hackett.

DAMIAN HACKETT & SARAH HACKETT Phone 0488 355 553 hackett@eplace.com.au

INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

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OUR PLA IN THE M SARAH HACKETT

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INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

DAMIAN HACKETT

ACE MARKET T

he Brisbane residential property market finished 2013 with a bang, and so far it hasn’t missed a beat in 2014, with the year starting strongly.

Brisbane is expected to be the best performing capital city for residential property this year, and indeed all indications are that the strong market surge witnessed in the latter part of 2013 will continue for some time.

While a steady improvement was expected in the latter half of 2013, the exceptionally high level of activity caught the industry by surprise, with the pickup noticeable across all price levels.

While the improvement in Brisbane’s top end has particularly been noticeable with more properties changing hands, there has also been a slight increase in prices, and this is set to continue as the year progresses and momentum in the market only solidifies, with confidence rebounding.

Place certainly expects a strong year ahead for Brisbane’s residential market, with the conditions currently the strongest that have been witnessed in five years.

In fact, we can confidently say that the most recent December/January period was the best on record for our company; what is traditionally a quiet season turned out to be very strong, with Christmas only a blip on the radar.

While the sub-$1 million price bracket has been leading the way, there has also

Across the board there has undoubtedly been a huge improvement from what was

been a significant improvement in Brisbane’s top end. From a volumes perspective

experienced at the bottom of the market in 2011. At that time properties were selling

in particular the top end is performing better than expected. Evidence of its regaining

almost strictly on buyers’ terms, with only one party negotiating to buy a particular

market strength was the sale of four properties by Place for more than

home. But fast-forward to the present day and we are seeing robust activity, with some

$4 million each – including one for $7.5 million in Hawthorne, which was the biggest

three to five parties bidding for each property, even in the top end, and this competition

sale for 2013 – in just one week in December.

is seeing properties sell quickly, as well as leading to a rise in real estate values.

INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

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TOP TEN SALES IN THE EASTERN SUBURBS IN 2013 W

hile the Brisbane residential property market has been strengthening overall, the eastern suburbs of Brisbane have been performing particularly well.

These sales result cement the rise of inner eastern suburbs, which are now

The area performed strongly over the course of 2013, recording a substantial number of sales in the top end. Even more significantly, all of the top 10 sales in the area last year were above $3 million, demonstrating the growing competition amongst buyers.

in 2013, reflecting our focus and ability to achieve strong results for vendors

definitively on par with the inner northern suburbs.

Place negotiated 9 out of the 10 top sales in Brisbane’s eastern suburbs in this segment of the market.

If you would like to know more about any of these properties listed below, or discuss the market in general please call Damian Hackett or Sarah Hackett on 0488 355 553.

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$6,370,000 47 ADDISON AVENUE, HAWTHORNE

Sold By Damian & Sarah Hackett December 2013

Sold By Damian & Sarah Hackett May 2013

PRICE NOT PUBLISHED 186 BARTON ROAD HAWTHORNE

$5,010,000 128 VIRGINIA AVENUE, HAWTHORNE

Sold By Damian & Sarah Hackett December 2013

Sold By Damian & Sarah Hackett August 2013

$4,800,000 4-8 WELWYN CRESCENT, COORPAROO

PRICE NOT PUBLISHED 255 MAIN STREET, KANGAROO POINT

Sold By Damian & Sarah Hackett November 2013

Sold By Damian & Sarah Hackett December 2013

$3,900,000 30 WENDELL STREET, NORMAN PARK

$3,401,000 124 QUAY STREET, BULIMBA

Sold By Damian & Sarah Hackett March 2013

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2 4 6 8 10

$7,480,000 114 VIRGINIA AVENUE, HAWTHORNE

Sold By Other Agent December 2013

$3,300,000 40 HAWTHORNE ROAD, HAWTHORNE

$3,100,000 36 GORDON STREET, HAWTHORNE

Sold By Cathy Richards (Place) October 2013

Sold By Damian & Sarah Hackett May 2013

INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

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ancy a gourmet meal tonight but don’t feel like cooking? Perhaps some Greek-style lamb cutlets served with a green bean salad? Or a tomato-based chicken drumstick bake with a cheesy potato topping served with classic roast veggies?

You don’t have to make it yourself! You can head down to the local Dan & Andy’s Hawthorne Garage on Hawthorne Road and pick up a home cooked meal for dinner instead, cooked fresh daily by in-house chef – and somewhat local celebrity - Nelly.

Daily home cooked meals are the newest addition to the offerings at Hawthorne Garage, which is now providing catering options and the best fresh produce for customers. The Hawthorne Garage, owned by brothers Dan and Andy, is housed in what was once a

100-year-old garage and the building retains some of that rich heritage with features such as the beautiful old timber trusses and an old service list situated at the front of the garage.

Since opening just over 18 months ago, the now local icon that is Hawthorne Garage has grown significantly, transforming from a gourmet produce and deli store to a modern corner store stocking everything from gourmet lines to basic milk and bread. Not only can you pop down to the Hawthorne Garage to pick up a fine Italian cheese, but you can also drop in to pick up basic necessities such as a bottle of milk, handful of bananas and daily baked fresh bread.

Hawthorne Garage offers a range of specialist food brands, fresh local produce, gourmet treats, the

freshest Campbell and Bradley flowers and a new flavour in coffee, DNA, which stands for Dan ‘n’ Andy and is made from 100% Arabica beans. You’ll also find plenty in the way of organic and gluten free products with a dedicated grocery isle lined up with such nutritious finds.

From Wednesday to Friday Nelly is cooking up Asian-inspired foods for lunch. Easy lunch options of pre-packaged soups, salads and rolls are also made daily and readily available, as well as tubs of muesli and yoghurt, daily baked muffins and banana breads, fruit salads and many other tasty and healthy delights for breakfast.

Priding themselves on their good old-fashioned service, the Hawthorne Garage is open from 6am until 8pm every day all for “the joy of food”.

REFUEL

Home cooked gourmet meals are the latest addition to the Hawthorne Garage.

INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

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NUMERO UNO. A magnificent riverfront property at Hawthorne took the title of the most expensive home sold in Brisbane over 2013 after being purchased for $7.5 million late last year.

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INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

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T

he three-level mansion at 114 Virginia Avenue had six bedrooms and five bathrooms, with the lavish master bedroom comprising the entire upper level of the home.

One of the most dazzling features of the home was its stunning riverfront views, which could be admired through a full wall of glass. The superb views extended

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INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

“Brisbane’s most expensive house sale for 2013 has settled with a local family shelling out $7.5 million for a five- year -old riverfront home.

The six -bedroom, five- bathroom home at 114 Virginia Avenue, Hawthorne, in the city’s inner east, is on 1654 square metres of land just three kilometres from the central business district. The three -level home has a pool, a six -car garage with lift access, video security, and riverfront deck. Place chief executive Damian Hackett, who negotiated the sale, said the top end of the market was showing renewed strength. “The 2011 floods smashed the Brisbane market. It dropped another 10 per cent in value the following year, but this sale is a good sign that the top end is strengthening.”

- Australian Financial Review 24 January 2014.

down both reaches of the Brisbane River, and across to New Farm Park, the Powerhouse and the city.

The Hawthorne property, which was completed in 2008 with solid concrete walls and floors over all levels, has a classic design with clean lines and generous, open spaces. Other exceptional features of the home ensuring absolute comfort included a designated media

room with a row of hydraulic windows opening to a central entertaining courtyard, a sparkling in-ground pool, a six-car garage with lift access, a video security system, two water tanks and a riverfront deck that provides access to a 15-metre pontoon.

the prestigious tree-lined Virginia Avenue in Hawthorne.

The sale of the Hawthorne property is evidence that riverfront properties are always one of the most highly sought after types of real estate due to the lifestyle they offer, and therefore always command a premium.

The property, situated on 1,654sqm of land, was of an immense scale, and had a contemporary façade fronting

With these properties in high demand, they are in limited supply, and hence there is always pressure on prices.

INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

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A BOURNE MONEY-MAKER: ACTOR JEREMY RENNER FLIPS GREAT GATSBY STYLE LA MANSION W

hat do you do in your spare time if you’re a famous Hollywood actor?

Well, if you’re Jeremy Renner, you flip houses.

That’s right. The American actor, known for his acting roles in movies including The Hurt Locker, Mission: Impossible, The Avengers and The Bourne Legacy, has had a side business for 12 years with fellow actor Kristoffer Winters buying homes and flipping them.

When the pair started back in 2002 they were making more money from flipping houses than from their careers, and it’s still proving to be very lucrative, with the last project in LA’s Hollywood Hills netting them a cool $7 million.

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Renner and Winters bought the 10,000sqm mansion in the exclusive Holmby Hills for $7 million and after spending $10 million remodelling it, sold the house for $24 million to British property developer Christian Candy.

The six-bedroom, 11-bathroom house, dubbed ‘The Reserve’ sits on 1.89 acres and has been described as a ‘roaring 20s Art Deco style home fit for 21st Century Howard Hughes’, complete with several powder rooms, pressed tin ceilings and a gentlemen’s room with a fully stocked bar.

In addition, the home also has a 12-seat cinema with state of the art audio visual equipment, a swimming pool with sunbathing terrace and a library hall with custom bookcases.

INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

$52MILLION HOME SALE BIGGEST IN AUSTRALIA T

he most expensive property sold in Australia over 2013 was a Sydney harbourfront mansion, which was purchased for $52 million.

The sale of the Point Piper home, which is known as Altona, in the first half of last year set a record for the most expensive property sale ever in Sydney, eclipsing the previous record of $45 million for the 2008 sale of Coolong, a waterfront residence at Coolong Road in Vaucluse.

The Altona sale, however, fell just shy of the $57.5 million record set in 2009 for the most expensive property sale ever in Australia, in which mining magnate Chris Ellison purchased iron ore millionaire Angela Bennett’s mansion in the exclusive Perth suburb of Mosman Park.

The second most expensive sale in Sydney last year was just around the corner from Altona; another harbourfront mansion on Wolseley Crescent in Point Piper, known as the Bang and

It’s no surprise that the luxurious private estate that is Altona fetched such an impressive price, with one of its huge selling points being its stunning 360 degree views of the Sydney Opera House and Harbour Bridge, across the main harbour channel to Manly and back to Rose Bay. The eight-bedroom, seven-bathroom mansion opens all around to balconies, colonnaded verandahs, entertaining terraces and gardens from which the magnificent views can be enjoyed.

Olufsen house – due to its similarity to the hi-fi

In addition to a choice of formal and informal living and dining rooms and a home theatre, Altona has a heated pool, a jacuzzi, private jetty, sauna, a rooftop deck, a luxuriously appointed boathouse and a separate granny flat. The mansion features a Georgian-inspired grand oval entrance foyer, and has a European ambience emphasised by its French doors, high ceilings, oak parquetry and acres of limestone.

its New South Head Road address to the high-tide

In addition to the mansion at 54 Wunulla Road, the $52 million sale of Altona included an adjacent block of land at 56 Wunulla Road.

The grand Victorian mansion was built in 1863 and

The buyer of Altona was reportedly an investment company whose sole director is Xiuzhen Ding, a Chinese-born resident who lives in Melbourne.

The vendor was Deke Miskin, a former publishing mogul, and his bikini-designer wife Eve, who purchased the property in 2002 for $28 million.

While Brisbane’s most expensive sale didn’t reach

sound system - was sold for $33.5 million.

Both Point Piper properties were purchased by Chinese buyers.

Elaine, the grand waterfront estate at Point Piper owned by the Fairfax family for 102 years, also hit the market last year and if it sells will far exceed any previous price records set for Australia.

Elaine, which covers almost 7000 square metres from mark at Seven Shillings Beach, cannot be compared to any other property that has previously sold, but price expectations are around $100 million.

Three times the size of Altona, the property has seven bedrooms, seven bathrooms, a tennis court, ballroom and stables, and boasts some of the best views across Sydney Harbour.

has been home to the Fairfax family since Geoffrey Fairfax bought it for £2100 in 1911.

into double digits last year as Sydney’s did, this year the city’s top end is expected to have a stronger performance, in line with the wider market, and as such, it’s likely the capital will see more big sales to rival its east coast counterparts.

INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

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LIGHTHOUSE

Designed to take in the superb views of the river, the Woolstores and the city, this five bedroom home is perfect for today’s busy families.

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ith a sparkling in-ground pool, the board walk at your back door and 1.65ha of parklands just 100m away, this home offers plenty of safe spaces for kids to play.

The welcoming living space incorporates the gourmet kitchen, lounge and dining room, all flowing seamlessly to the outdoor entertainment and pool area through large glass bi-folds.

Upstairs, the superb master bedroom enjoys a private balcony as well as a huge ensuite with double shower and bath with sensational river city views.

Just a short walk from the Oxford Street precinct, this location is one of Brisbane’s most enviable. Optional 12m marina berth within walking distance, completes this very special home.

This striking residence at 33 Addison Avenue is being marketed by Damian & Sarah Hackett, call them on 0488 355 553 or email hackett@eplace.com.au

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INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

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busy lifestyle with features on the lower

The living hub of the home comprises

master suite with private terrace, amazing

level such as a spacious separate

of an entertainer’s gourmet kitchen with

City views, ensuite and walk in robe.

entertainment room, fully equipped

built in meals area and plenty of bench

The picture is completed with a triple

to New Farm Park and the entire city

home theatre, generous bedroom,

space. The kitchen flows seamlessly

garage, ducted air conditioning, fireplace,

skyline, this striking home presents a

full bathroom plus a large home office.

onto open plan living spaces including

intercom and security system, cool room,

esigned to take in the panoramic views from one reach of the

Brisbane River to the other and across

luxurious lifestyle in a magical position that you will be proud to call home.

This level leads outdoors to the covered alfresco entertaining area surrounding

the living, dining and terrace all taking advantage of the river outlook.

two rain water tanks, lush established landscaping, polished timber floors,

Master built and designed for functional

the picture perfect in ground pool, all

The upper most level houses three

ceiling fans and so much more for your

living the home is perfect for today’s

with spectacular views.

over-sized bedrooms including the lavish

family to enjoy for many years to come.

WIDESCREEN This is a great home in one of Brisbane’s best streets complete with its own private jetty.

The amazing river views come to life every night.

This property is located In a premier location right on the riverfront with private jetty, full boat berth and separate storage shed.

It is also close to Oxford Street, Hawthorne Cinemas, City Cat, private schools, parklands and all only 5km from the CBD.

You’ll know you’ve arrived.

There’s water everywhere you look.

This beautiful property at 10 Aaron Avenue, Hawthorne, is currently being marketed by Damian & Sarah Hackett, call them on 0488 355 553 or email hackett@eplace.com.au

INNER SOUTH EASTERN RIVERFRONT AND HIGH END PROPERTY REPORT

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