Domain Prestige - March 01, 2023

1 MARCH / 2023

PRESTIGE THE BEST IN AUSTRALIAN PROPERTY

MODERN ROMANCE Beauty in the detail

B y K ATE FARRE LLY

Caulfield North Melbourne 359 Alma Road $6 million-$6.4 million J OSE PHIN E H U YN H

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Expressions of interest: Close noon, March 7 Agent: Marshall White Stonnington, Fiona Ansell-Jones 0410 325 240 I once had the opportunity to tour the home of an internationally

Claiming a corner block at the “Paris end” of Alma

renowned Australian fashion designer when it hit the market. As you would

Road, Portavoe is a handsome Federation

imagine, every room of the mansion in Sydney’s inner-city was a visual feast.

residence with a tennis court and heated pool.

In hindsight it seems obvious, but what had me gobsmacked was the

You’ll find beautifully preserved period detailing

dressing room. Upon opening the double doors, a trail of lights gradually lit

alongside bedrooms and bathrooms refurbished

up to reveal a walk-in wardrobe space the size of a main suite, stocked like a

by Studio Doherty. The selection of living spaces

high-end fashion house store on Fifth Avenue. I always wanted to highlight

includes two grand, formal living rooms, each

such features of our best homes – the rooms that reflect the passions of

with an open fireplace.

their owners and also form the unique characteristics that can sell a home.

Our cover property echoes that with its ornate cornices and ceiling roses and stained-glass motifs. You can see and feel the owners’ appreciation for heritage in the home’s designer refurb, and it warms my heart.

O U R COVE R 359 Alma Road, Caulfield North.

Listed by Marshall White Stonnington PAG E 2

Editor: Josephine Huynh josephine.huynh@ domain.com.au Editorial producer: Hailey Coules Group picture editor: Kylie Thomson Senior designer: Colleen Chin Quan Graphic designer: Nicole Gauci National magazine editor: Natalie Mortimer National managing editor: Alice Stolz Chief marketing officer: Rebecca Darley Chief executive officer: Jason Pellegrino Residential sales: Queensland Amanda Vaughan 0413 370 004 New South Wales Eoin Brawn 0439 907 096 Victoria & Tasmania Ray van Veenendaal 0438 279 870 Western Australia, South Australia & Northern Territory Jeroen van de Peppel 0427 292 797 Digital edition Visit domain.com.au/ digitaledition

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HOT PROPERTY

PRUE RUSCOE

DESIGN DIGEST All shapes and sizes

YELLOWTRACE Head to the Hunter Valley

LIVING IN Made it in Melbourne

THE PROPERTY INVESTOR Below decade’s average

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Bundanoon Southern Highlands 25 Gullies Road $4.4 million

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Private sale Agent: Home & Hearth Property, Di Dixon 0412 692 916 Set on almost a hectare of lovely landscaped gardens, this family-sized retreat is only a few minutes’ walk from the village centre. It includes a character-filled main home with dormer windows and a deep verandah, plus a separate, two-bedroom self-contained cottage.

Mosman

Longueville

Sydney 8 Delecta Avenue

Sydney 20 Belcote Road

$11.5 million-$12.5 million

$11.5 million

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Private sale

Auction: 6.45pm, March 9

Agent: Atlas Lower North Shore, Priscilla Ouvrier 0404 350 350

Agent: McGrath Lane Cove,

Opposite the Beauty Point foreshore with idyllic views, this stunning home is

Sam Lloyd 0418 236 103

a result of a collaboration between Creative Renovations and architect Nigel

This riverfront home – with pool, jetty, boat shed

Parsons, with Richard Williamson interiors. The multilevel layout features a

and ramp – takes full advantage of the water

New York marble kitchen, two living zones and a north-facing pool.

views, with most rooms fronting Yacht Bay.

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DESIGN DIGEST

Curves in all the right places In honour of Australia’s love for the great outdoors, these shapely designs befit blissful outdoor retreats. C o m p i l e d b y PAU LIN E M O RRIS SE Y MODERN ROCKER Adam Goodrum was inspired by Australia’s sport-loving culture when designing the Volley Rocker Chair for Tait. It features a circular frame, net mesh, soft curves and a comfortable seat with luxurious outdoor fabric options. madebytait.com.au

REVIVED ICON Designed by Stefan Lie in 1998, the Ribs Bench was originally an indoor piece moulded from plywood. It’s now been reimagined for the outdoors, with a unique flexible metal spine that allows it to move fluidly into various positions. designbythem.com

OUTDOOR BATHING

TAKE A SEAT Offering a fresh take on contemporary outdoor seating,

Agape’s DR Cemento

spaced slats for easy water drainage. Made in a variety of colours, it is

Bathtub is a sleek work

intended to meld with any outdoor space. livingedge.com.au

Muuto’s Linear Steel Stool incorporates straight lines, folded edges, and

of art thanks to its curvaceous silhouette and richly coloured concrete. Available in free-standing or built-in options, it blends beautifully with nature by creating the illusion of a natural swimming pool. artedomus.com

ANDREA FERRARI

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YELLOWTRACE

b y DANA TO MIC H U G H E S

COURTESY OF JONES

BRETT BOARDMAN

A home among the grapevines

P

okolbin House, a trifecta of interconnected pavilions, balances the demands of a working estate in one of Australia’s most established wine regions with the refined ease of a country retreat for a Sydney family.

A nod to the principles of mid-century modernism, particularly Ludwig Mies van der Rohe’s Farnsworth House and its connection to the landscape, this project delivers a cohesive and formidable outcome through subtle and elegant design expressions.

The experience of slowing down begins well before arrival at the house via the long driveway that descends into the property.

“Connecting with the place at a slower pace heightens the experience of being here,” says Matthew Woodward, principal architect at his eponymous practice.

“This is a home away from home,” says interior designer Tammy Miconi of Lot 1 Design. “A place [for the client] to reconnect with nature, but also with themselves.”

This is Miconi’s fourth project with her client in the past 15 years. “We’ve become friends, and I clearly understand who they are, and how they love to live.”

After securing the country property for their new holiday home, the clients turned to Miconi for her recommendation of an architect.

“Having seen Matthew’s Wirra Willa Pavilion, which I loved and felt had the right foundational design elements the clients were seeking, they engaged Matt and his team.”

Woodward says he knew the Hunter Valley and Pokolbin area quite well after studying at Newcastle University, and “I think this enabled an ease in conversation with the clients and an immediate connection”.

The brief called for a retreat to escape to and find respite within the rolling hills of the Pokolbin viticultural landscape; a home that was responsive to the location and climate, blurring the delineation between inside and outside living. “A home that was subservient

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within the dynamic, ever-changing landscape,” Woodward explains.

The site contained relics from early 20thcentury wine making and a ruin of the original homestead, built in 1865, that once belonged to founding winemakers in the region.

“These relics, the viticultural context, Mediterranean influence and the natural Australian bush backdrop were a big source of inspiration,” Woodward says.

Miconi says the brief for the interiors was to keep the spaces light and natural, using texture and intricate detailing.

“We wanted to maintain a connection to the surrounding vistas,” she says.

The external finishes are robust and able to withstand the extremes of the harsh elements, with some continuing inside, like the white sand render. Inspired by how the pavilions sit within the landscape as a strong presence yet connect with the surroundings, the interiors carry the similar concept of solid forms balanced with delicately detailed connections.

The most notable example is the kitchen island bench, with tops and slab ends crafted from an Italian travertine block with curves that soften the edges. The individual stone elements appear connected without taking away from each other, while delivering a powerful form together.

“There is just so much that goes into a well-resolved interior,” Miconi says. “The material selections, the way they connect

“I love that there is a feeling of understated elegance about the place while being perfectly functional.” with one another – not just aesthetically, but functionally.”

In this vein, furniture selections feature a mix of design classics, local products and bespoke pieces, with the overall intent being comfort, timelessness and longevity.

“The idea is that these pieces will age beautifully and, for the most part, never be replaced,” she says.

When asked what he’s most proud of, Woodward says: “It’s the way the house sits harmoniously within the surrounding landscape and acts as a platform to experience its everchanging beauty.” He credits the entire team, including the builders from PCM Projects and

The house’s pavilions carry a strong presence yet connect with their surroundings; similarly, the interiors contain solid forms balanced with delicately detailed connections.

structural engineers from SDA Structures, for making it successful and cohesive.

“Never has a project felt more complete at handover with everything fitting perfectly together,” he says. “I love that there is a feeling of understated elegance about the place while being perfectly functional.”

For Miconi, her clients’ love for architecture and design is one of her favourite aspects. “They see the value added when spaces encompass a true extension of who they are and how living and sharing these spaces with their loved ones enhance wellbeing and connection.” yellowtrace.com.au

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RARE OPPORTUNITY TO PURCHASE APPROX 2 ACREAGE HOMES UNDER 1 TITLE

Inspection By Appointment

25 UPLANDS DRIVE PARKWOOD 10

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7,799m²*

Uplands Drive in Parkwood has become the Hedges Avenue of acreages, a Millionaire's Row in the middle of the city. Centrally located between the Southport Broadwater (10mins), Surfers Paradise (20mins) M1 Highway, Helensvale Train Station (7mins) Griffith Uni and GC Hospital (5mins) and your very own Parkwood G-Link station only 3 mins away.

Contact the Listing Agent Antonio Contreras 0449 694 858 antonio@amirprestige.com.au

This property has the prefect combination of a Tree change / Sea change for those buyers seeking an acreage without travelling to the Hinterland and yet so close to the beaches, shopping centres, Griffith Uni, and public transportation with 2 Bus Stops outside the Gates.

Disclaimer: *= approx.

amirprestige.com.au

LIVING IN

37.8417° S, 145.0138° E

TOORAK LEIGH HENNINGHAM

So close to the CBD, Toorak abounds with natural beauty and a luxury lifestyle for busy professionals. B y PAU LIN E M O RRIS SE Y Garnering the nickname “Beverly Hills of

YOU MAY LIKE ...

Toorak

“It’s the place to be with its thriving foodie

Melbourne”, Toorak is known for its stately

scene, great local coffee roasters and quirky wine

Melbourne 45 Bruce Street

mansions, which often hide swimming pools and

bars,” he adds. “We’re also gearing up for the new

$7.8 million-$8.2 million

tennis courts behind impressive gardens.

high-end development on Toorak Road, expected

Within the storybook suburb, happy locals enjoy walking their dogs along tree-lined streets or relishing the cosmopolitan charms of Toorak Village, the neighbourhood’s central hub.

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Refined family living Sarah Case, who recently moved to Toorak with

types, as evidenced by its median house price of

her husband Ben, their eight-year-old son, and

$4.74 million, according to the latest Domain

their dog Bruiser, speaks highly of the area’s

House Price Report. However, that high price tag

strong sense of community and convenience.

A postcode of prestige

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speciality shops.”

The area has long been popular among affluent

comes with a high reward.

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to house even more restaurants, bars, cafes and

“The convenience of having everything on your doorstep is appealing, like the ability to walk to work or do easy school drop-offs,” she says.

RT Edgar Toorak director Jeremy Fox says if an

“It’s also a bonus that it only takes a couple of

international traveller landed in Toorak with no

minutes to get on the freeway, which we greatly

preconceived image, they might think they’ve

appreciate when driving back west or down to

Expressions of interest: 5pm, March 14

landed in heaven.

the Mornington Peninsula.”

Agent: Marshall White Stonnington,

“It’s a pretty spectacular location,” Fox says. “It

Case has worked in Toorak for more than 20

Joanna Nairn 0419 994 664

has a diverse demographic of professional

years and knows exactly what her ideal “Sunday

On a spacious, north-facing site, life in this

couples, families and affluent business people,

fun-day” is. “Walking to Rouben’s Specialty

English-style home means soaking in the natural

and it’s only becoming more multicultural as

Coffee for coffee and hot chocolate, a bagel from

light of the elegant sitting room and getting lost

more international buyers move in.”

Dan’s Deli, and then wandering down to …

in the romance of the gardens and pool.

Toorak’s secret sauce is the perfect blend of comfort and luxury while providing a relaxed and idyllic lifestyle.

Winifred Crescent Reserve,” she says.

“To end the day, dinner at the local institution

Rising from the tranquil

Romeo’s is always a hit. [It’s] has been there for

Yarra River, Toorak

40-plus years. It’s telling just how many

offers beauty, amenity

Hover your camera over the

never been more active, willing to wait and pay

businesses have been operating in the village for

and amazing inner-city

code to see Domain listings

premiums for quality, renovated homes.

20 to 40 years, usually greeting you by name.”

convenience.

in Toorak

Fox says buyers in the high-end market have

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3a

WOLLONGONG 10/2 Parkside Avenue

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SUNDRENCHED LUXURY WITH AN EPIC VIEW • Bold and breathtaking fifth-floor oasis facing a glorious ocean view

FOR SALE $3,750,000

• Custom fitout with sundrenched interiors, wide entertainers’ terrace

VIEW As advertised online

• Luxury Smeg kitchen, full bath plus couple’s ensuite, ducted air • 2019 complex with huge DLUG on title, exclusive cul-de-sac setting • Enjoy a beachside lifestyle just an easy 80 min drive south of Sydney

belleproperty.com/104P11501

See demand for your home Download the app

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xx 4228 0888 Darren Kay 0411 187 768 Nicole Kay 0411 669 920

THE PROPERTY INVESTOR

VAIDA SAVICKAITE

Investment down but rents still go up Tough borrowing conditions are forcing some investors out of the market but those with deep pockets can pounce on falling prices.

B y SU E WILLIAMS

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Property prices are falling and rents are rapidly rising but, with more interest rate rises predicted, is now the time to snap up an investment bargain?

he number of active property investors has fallen off a cliff, the latest Australian Bureau of Statistics (ABS) figures show, pushed by rising interest rates restricting access to credit and increasing economic uncertainties creating a wobbly footing.

But for seasoned investors, that could mean an opportunity rather than too risky a gamble.

“In the words of the world’s best investor, Warren Buffett, it is wise for investors to be ‘fearful when others are greedy, and greedy when others are fearful’,” says Michael Pell of investor buyers’ agency Propell.

“With the softening market, we can see lots of potential to go out and get a good deal on property – and, yes, while the number of investors has dropped, the quality investors who have the capacity to buy and understand the need to invest are still in the market.

“There’s now less competition and they can negotiate better as the interest rate rises have washed out the people who can’t really afford it.”

The ABS Lending Indicators for December 2022 revealed that new investment loan

commitments plummeted by nearly 28 per cent over the previous 12 months and, while investor finance historically over the past decade comprised 34.6 per cent of new mortgage lending nationally, it’s now below that at 33.6 per cent.

“We don’t know when the market will bottom out … it’s hard to predict.”

Rising rents and dropping prices, however, indicate healthy yields. In addition, the extra demand being created by the migration of more skilled labour and the return of overseas students, coupled with continuing low stock levels, could mean good capital growth in the years to come.

Yet there’s no need to rush, cautions Louis Christopher, managing director of investment research house SQM Research.

Although his company has just reported more record rent rises, with capital city rents increasing by another 2.4 per cent over the 30 days to February 12, taking the 12-month rise to 24.7 per cent, prices are still falling.

“If investors want to capture the gains in rental yields because of the hyper rental market – with rates that are unheard of – then this is a good time to act,” he says. “But they’d have to accept the fact that property prices are likely to go lower before they start rising.

“The RBA [Reserve Bank of Australia] says there are still multiple rate rises ahead and, with so much aggression, prices could fall a lot more.

“We don’t know when the market will bottom out and, while a lot miss out because they only start investing again when the market goes up, it’s hard to predict when it will turn.”

With such high rents and comparatively low demand, Rasti Vaibhav, founder of researchfocused buyers agency Get Rare Properties, sees it as a good time to invest.

“Only savvy investors with deep pockets can do it at the moment, as borrowing capacity is getting hammered,” he says. “Someone might argue that prices will go down further, but from the data we have, we think prices will only go sideways, or start to improve. And buying property is always a long-term investment.”

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Penthouse living, luxuriously defined by four bedrooms, three bathrooms and four car bays; nestled in the highly sought-after heart of old Mt Lawley, just 3km from Perth CBD.