Domain Prestige - April 28, 2021 by Domain Magazines

28 APRIL / 2021

PRESTIGE THE BEST IN AUSTRALIAN PROPERTY

TIME TRAVELS At home with old & new

B y PAIG E TO N NA

Peppermint Grove Perth 143 Forrest Street $7.95 million J E N M E LO CCO

For sale Agent: Mack Hall Real Estate, Mack Hall 0417 744 600 It is just over a year since we were suddenly invited into people’s homes

This Queen Anne Federation-style home is for

in a way we hadn’t before – and, in particular, to such a wide variety of

sale for the first time in more than 25 years.

home offices. It may have been the home office of a colleague over a

Surrounded by lush gardens, the home boasts

Zoom meeting or the book-packed study of an expert that we stepped into

heritage architecture with contemporary

courtesy of the evening news. While more of us are now stepping back into

additions, open-plan living spaces and delicate

our CBD offices, the value of a good home office has come to the fore. We

water features.

look at the rise of the home office in our feature story this week, and include three great properties with some of the most attractive work-from-home spaces now on the market. “Home offices are more in demand now than ever before,” says buyer’s agent Michelle May. “Having a proper room with a window and natural light creates a significant amount of extra value.”

Editor: Jen Melocco Jen.Melocco@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 Curve appeal

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 Rise of the home office

7 8

Digital edition Visit domain.com.au/ digitaledition

O U R COVE R 143 Forrest Street,

LIVING IN

Peppermint Grove

Fremantle

Listed by Mack Hall Real Estate PAG E 4

PR E ST IGE

THE PROPERTY INVESTOR Mining for returns

11 13

Balwyn Melbourne 20 King Street $6 million-$6.6 million

Expressions of interest: Close 5pm, May 18 Agent: Kay & Burton, Sophie Su 0425 270 125 Next to tranquil parkland in a prestigious street, this classical home epitomises sophistication and extravagance. It features an indoor pool, gym, home cinema, a formal sitting room and a bar and cellar. Its elegant features are finished with hickory, American oak and refined marble.

Sanctuary Cove

Sydney

Gold Coast 5681 Anchorage Terrace

City 76/3 Macquarie Street

$13.25 million

$13 million

For sale

Agent: Amir Mian Prestige, Charlon Delos Angeles 0487 638 092

Agent: Vanguarde, Richard Sholl 0430 803 424

On one of Sanctuary Cove’s most coveted streets, this private estate

On the seventh floor of the world-renowned

offers an opulent lifestyle with an exquisite taste of luxury, featuring a

Bennelong Apartments, this residence delivers

mature jacaranda tree, a formal living space, a huge al fresco pavilion

an optimal lifestyle experience and extraordinary

and marble floors.

views of Sydney Harbour.

PR E ST IGE

AVALON BEACH 16 Bellevue Avenue

LUXE COASTAL LIFESTYLE IN THE HEART OF AVALON Delivering a masterclass in contemporary coastal style, this exquisite family entertainer pulls out all the stops. Designed by Wild Orchid Spaces and completed in 2021, this bespoke property fully embraces indoor/outdoor living, fusing richly textured interiors with polished livability at every turn.

belleproperty.com/avalon

AUCTION ON SITE Saturday 8th May at 11:00am VIEW Saturdays 11:00-11:30am

xx 02 9918 9933 Laura Mears 0424 918 829 Mark Griffin 0414 918 999

DESIGN DIGEST

Arc of influence Incorporating curves in design gives our spaces a sense of continuity and calm. C o m p i l e d b y PAU LIN E M O RRIS SE Y SLIM PICKINGS Articolo’s Slim collection was inspired by the glamour of Slim Aaron’s famed Palm Springs photography. The elegant tube of mouth-blown glass is available as a single or double wall-sconce, or a double pendant. articololighting.com

ANDY MACPHERSON / JASON GRANT

MAKING WAVES The softly curved Wave Bed by Daniel Boddam has been designed to be both comfortable and contemporary, resembling gentle, rolling waves. It is custom-made in a variety of fabrics and sizes. danielboddam.com

GO WITH THE FLOW

STARS IN STRIPES The latest three-piece collection by Sarah Ellison, La Banda – meaning “the stripe” in Italian – includes a side table, console

Combining relaxed

and screen made from striped ash and walnut and embracing curves and

sophistication with

geometric forms. sarahellison.com.au

a subtly masculine appeal, the Flo Coffee Table by Anaca Studio celebrates the enduring quality of good design, where clean and simple lines blend beautifully with a soft, rounded-corner top. anacastudio. com.au

MARTINA GEMMOLA

PR E ST IGE

Office space works wonders A home office not only lets you work in comfort, it can add massively to your home’s value. B y SU E WIL LIA M S

PR E ST IGE

FEATURE STORY

n these days of physically attending the workplace only part of the week, a great home office can add as much as 10 per cent to the value of a property. And the larger, more comfortable and luxurious the space, the greater the number of potential buyers will be attracted – and the higher the final price. One beautiful renovated Victorian terrace on the market in Melbourne’s Albert Park, for instance, has a stunning self-contained studio above the double garage. “A lovely home office like that easily adds 5 per cent or 10 per cent to a home’s value,” says agent Simon Gowling of agents Greg Hocking Holdsworth. “It’s completely decked out with bespoke cabinetry, a built-in desk and pinboard but it’s also multi-use, which people love.” In Sydney, there’s another house for sale with a fabulous “executive office”. Selling agent Roger Wardy of Ray White Touma Group says, for him, it was love at first sight. “In fact, I think it’s my favourite room in the house,” he says of the office in the renovated four-bedroom, split-level home on a 700-square-metre block in Rosebery, which had 60 inquiries in the first 12 hours of listing. “Just the way it’s so colour co-ordinated, its position, its size and the way the space flows … It’s one of the best home offices I’ve ever seen.

“I have no doubt it adds a lot of value as it really helps attract the right buyer; someone like a surgeon or a solicitor or another professional, the kind of people who work from home and never switch off.” The home at 35 Trevilyan Avenue has a price guide of between $4 million and $4.4 million, which is indicative of the price point where home offices are in the strongest demand. The four-bedroom Albert Park home, at 48 St Vincent Place North, is in a similar range, from $5.5 million to $5.8 million. Another Albert Park house on the market with an excellent home office is the five-bedroom 50 Kerferd Road property, also being handled by Simon Gowling, which is likely to reach $5.25 million to $5.75 million. “Home offices are more in demand now than ever before, with people realising they want a better permanent solution than working from the dining table,” says buyers’ agent Michelle May. “Having a proper room with a window and natural light creates a significant amount of extra value. We’re also seeing a wide range of ‘home offices’ like a space for a desk somewhere, or even a ladder being pulled down from the attic, being billed as potential for an office!” As a result of the new hybrid working patterns, Andrew Gilbert, head of merchandise and

marketing at Office Brands, has been surfing a huge second wave of demand for quality office equipment, with both health and wellness in buyers’ minds. People are now paying up to $1000 for stylish ergonomic office chairs, and there’s now a big market in smaller sit-stand desks, with pushbutton electronic raising and lowering. “In the early days, the equipment we were selling seemed like a stop-gap,” Gilbert says. “But now people are recognising this is a more permanent arrangement.” Diana Ribarevski, head of interior design at Coco Republic, sees home owners spending $20,000 to $40,000 on creating wonderful looks for their home offices. Many are choosing furniture and fittings in a monochromatic, contemporary style with lots of metal, textured glass and leather. “Coco Republic is also selling a lot of marble and alabaster desk lamps with blackened brass,” Ribarevski says. “It’s all with very clean, contemporary lines but it’s also sophisticated and luxurious and warm. “People want their home offices to be an extension of their homes, with stylish, not over-sized, free-standing beautiful desks and chairs on casters that are good for working and also look great.”

Albert Park Melbourne 48 St Vincent Place North $5.5 million-$5.8 million

Agent: Greg Hocking Holdsworth, Simon Gowling 0422 234 644

50 Kerferd Road

Rosebery

Albert Park, right; 35 Trevilyan Avenue

Sydney 35 Trevilyan Avenue

Rosebery, below.

$4 million-$4.4 million

Agent: Ray White Touma Group, Roger Wardy 0481 355 493

Albert Park Melbourne 50 Kerferd Road $5.25 million-$5.75 million

45 St Vincent Place North Albert Park, opposite page

Agent: Greg Hocking Holdsworth,

and above.

Simon Gowling 0422 234 644

PR E ST IGE

FOR SALE

51 Seaside Drive, Banksia Beach, Bribie Island, QLD

Block Size: 1019m2

Build Your Future Right Here With spectacular views to the Glasshouse Mountains, the most convenient location on the canal and instant access to the Pumicestone Passage. This is one of Queensland's most exclusive luxury waterfront lots. Set in a prestige enclave of luxury award winning homes, it is the perfect blank canvas to build your dream home on what's considered the best street in Bribie Island. This unique block offers views to the well maintained park on the street side, and breathtaking sunset views over the water to the Glasshouse mountains on the other. This rectangular block boasts a larger than normal 1019m2 with extra wide 20m street and canal frontage. The block is located at the widest point of the canal giving more privacy than regular canal blocks. Located 1 hour from Brisbane CBD, 1 hour from the airport and close to public transport, shopping centres and restaurants and cafes. Surrounded by bike tracks and wildlife. -

FREQUENT DOLPHIN AND TURTLE VISITS BREATHTAKING SUNSET VIEWS OVER THE WATER TOWARDS THE GLASSHOUSE MOUNTAINS 1019M2 FLAT LEVEL BLOCK LUXURY PONTOON 1 HOUR TO BRISBANE CBD AND BRISBANE AIRPORT 1 HOUR TO SUNSHINE COAST 10 MIN BY BOAT OR CAR TO SANDSTONE POINT HOTEL 30 MIN BY BOAT TO STUNNING MORETON ISLAND BRIBIE ISLAND CONNECTED BY BRIDGE TO THE MAINLAND

Price: $1,900,000 Contact Claire Uttley today for further information on one of Bribie Island's ﬁnest blocks available for purchase. Contact: 0413 469 993 Agent: Claire Uttley Address: 2/2 Eucalypt St Bellara QLD 4507

LIVING IN

32.0534° S, 115.7580° E

FREMANTLE

Some places seem to have it all – ocean, river, eateries, shopping and charm. ‘Freo’ is clearly one of them. B y K ATE FARRE LLY

YOU MAY LIKE ...

Fremantle

Renee Coyle lives an almost quintessential Freo

and the surrounding suburbs. “There are a lot

life. The musical theatre performer lives atop the

of new restaurants, bars and cafes that have

Perth 10b Solomon Street

heritage-listed Brush Factory in East Fremantle

opened over the past 12 to 24 months,” he says.

$2.5 million

and, on floors below, runs her mini-arts empire.

“And we’re getting 30 to 70 groups through

The 10-year restoration of the 1901 building

Vacancy rates are at an all-time low and people

for Coyle’s father, who had once worked in the

are wanting or needing to move and have to pay

building. It’s now a creative hub, housing diverse

a premium to secure a property.”

performing arts spaces, versatile studios, offices for the arts industry, and the lively Duke of George blues and jazz venue, which opened in 2018. “We’ve been really warmly embraced by both

Dimmock says in his 12 years selling real estate he’s not seen a bigger boom.

Sand, sunshine and shopping

locals and musicians,” says Coyle of the Duke of

Dimmock says buyers are drawn to Fremantle

George, which prides itself on serving great food

for its waterside charms, with the beach and river

and cocktails along with brilliant live music.

offering ample opportunity for swimming,

When it’s time for lunch, Coyle might head up

open homes with multiple offers per property.

was a family project that stirred up memories

boating, fishing and outdoor dining.

the road to newcomer Ethos Deli + Dining Room,

Leighton Beach and Port Beach are known for

an eatery with a focus on sustainability, or, on a

their long stretches of white sand and beachside

For sale by negotiation

night off, she might visit wine bar Young George.

cafes while North Fremantle is a hotspot for

Agent: William Porteous Properties International,

restaurants and live music bars.

Peter Robertson 0427 958 929

“George Street is really starting to come alive,” says Coyle. “This is a more upmarket pocket of

Every week the Fremantle markets draw crowds

Enjoy magical ocean views from this new, award-

Fremantle and we’re getting a bit of a St Kilda

looking for unique gifts, fresh produce and

winning hilltop home. Over three levels with lift

feeling here with a wide demographic that is into

entertainment for the kids, while Market and High

access plus a rooftop terrace, the property

culture, music and the arts. The people here are

streets are home to dozens of clothing boutiques,

comes with marble, granite and timber finishes.

a lovely, eclectic mix and the neighbourhood has

plus bookstores, jewellery shops and art galleries.

a very warm feeling.”

Market moves

“We’ve got remarkable amenities everywhere,” says Dimmock.

The Indian Ocean beckons to the rooftop vantage point

Hover your camera over the

RH Property sales director Mark Dimmock says

can genuinely walk down the street and everyone

in Solomon Street,

code to see Domain listings

there’s clearly a lot of confidence in Fremantle

will say hello.”

Fremantle.

in Fremantle

“And a great sense of community where you

PR E ST IGE

The Jewel

Byron Bay

Old Byron Bay Road, Newrybar NSW 2479

Dreams Do Come True - A Unique Slice of Heaven Life on this estate, regarded as one of Byron’s finest - really does place you on top of the world. Perfectly positioned on a rare coastal escarpment with stunning 360-degree views, this idyllic estate overlooking the hinterland and ocean provides complete privacy and seclusion, yet it is close to the iconic hub of Byron Bay and its surrounding beaches. Located on the top of a magnificent hilltop setting, this estate comprises of approximately 6.8 acres, 2.75Ha, of abundant tropical gardens and manicured lawns. All this – and conveniently located only a few minutes to the boutique village of Newrybar, 5 minutes to the world-famous beaches of Byron Bay, 10 minutes to the charming seaside township of Lennox Head and just 20 minutes from the Ballina/Byron Regional Airport. This is the ultimate lifestyle property and an absolute must-see.

“ Byron Dreaming” 9/15-19 Fletcher Street Byron Bay NSW 2481 | www.reodbyron.com.au

VIEW By Appointment SALE By Expressions of Interest. Closing Date 5.00pm 7th May 2021 AGENT Janis Perkins 0438 841 122 janis@reodbyron.com.au

THE PROPERTY INVESTOR

ALAMY STOCK PHOTO

Exercise caution in resource regions If everything goes well, you can make a lot of money investing here. But make sure you do your due diligence. B y SU E WILLIAMS

Port Hedland has the advantage of being a major iron ore producer and the world’s largest bulk export port.

ome people make big money by investing in residential property at the right time in the booming resource-rich regions. Others lose their shirts. Buyers’ agent Lloyd Edge knows both fortunes first hand. “A long time ago, I bought property in Blackwater in the coal mining area of Central Queensland,” he said. “Those resource areas generally have higher rental yields, and capital growth can happen very quickly and suddenly. “But if the industry slows down, or closes down, then house prices can fall overnight, people move out, rental income drops, and it can be difficult to find tenants. I learnt that the hard way!” In the good times, however, there’s still the seductive promise of great riches. In the Western Australian iron ore port of Port Hedland last year, for instance, the median house price soared by an astounding 30.4 per cent, the Domain House Report found. Meanwhile, in Queensland, property prices in the mining region of Isaac leapt by 19.8 per cent and in the mining-related Gladstone area by 13.6 per cent during the same period.

But Edge, director of Aus Property Professionals and author of the new book Positively Geared, urges caution. “You need to watch the market carefully and know when to get out,” he says. “You have to watch what the government is doing with the resources sector and research the town too.

“You need to watch the market carefully and know when to get out.” “Good signs are when infrastructure is going in and when there are other industries propping up the town too.” That’s certainly the strength of Port Hedland, according to Danielle Mariu of agents Hedland First National. As well as being a major iron ore producer, it’s also the largest tonnage port in the

world, exporting cattle, gold, lithium and salt. “So, the town’s not dependent on just one mining sector,” she said. “Investing here can work well as you’ll be positively geared – a fourbedroom, two-bathroom house built in the past 10 years will bring in $800 to $1000 a week in rent, but the mortgage will cost you half that. “But it’s obviously a volatile market. In 2012, we had the boom, and in 2013 the market crashed, and we lost 70-80 per cent on prices. We’ve now rebuilt and are going well.” In strongly-performing Isaac, the coal town of Moranbah also looks a good prospect. At the local Raine & Horne, agent Tabitha Camilleri says a house that cost $55,000 three years ago is now selling for $150,000. “Property is going very strongly at the moment, COVID didn’t affect us, and a few new mines are opening up,” she says. “But I have to be truthful. Nobody knows what’s going to happen tomorrow …” In a perfect world, investors will buy when prices are low and sell when they’ve hit the top of the market, but no one can predict either, advises Angie Zigomanis, director of research and strategy at property advisors Charter Keck Cramer. And once prices start tapering off, they can hit the bottom very quickly and hard. “If everything goes well, you can make a lot of money,” he says. “But if they go badly, you can lose your shirt. It can be a strategy fraught with risk, and you’re at the mercy of factors way beyond the normal market fundamentals.”

PR E ST IGE