Domain Prestige - April 05, 2023 by Domain Magazines

5 APRIL / 2023

PRESTIGE THE BEST IN AUSTRALIAN PROPERTY

SHADES OF NATURE Inside a hinterland haven

B y K ATE FARRE LLY

Brookfield Brisbane 46 Royston Street $7 million-$8 million J OSE PHIN E H U YN H

Private sale Agent: McGrath Paddington, Alex Jordan 0410 424 749 We have our fair share of swoon-worthy properties every week in

This unique home has an inspired design by

Prestige, however there are particular ones that capture my heart. In no

Shaun Lockyer Architects with interiors by Claire

way would it be practical at this stage of my life to maintain a sprawling,

Stevens Interior Design. It is well-equipped for

two-hectare estate in the Byron hinterland with seven bedrooms and

entertaining all ages, with a sophisticated games

bathrooms to spare – but that doesn’t stop me dreaming about doing so at

room, a kids’ pavilion, a media room, a pool and

the gorgeous Cedar Hill, a barn-style home by award-winning designer Jase

park-like grounds. It sits on a one-hectare block.

Sullivan that we feature here in Hot Property and on the cover. Its interiors are globally inspired and styled to perfection; a textural triumph. But, contrary to the cliche, it’s what’s on the outside that matters at this property. Whether you’re saluting the sun during a morning yoga session, keeping cool in the supersized mineral pool or soaking up superb views from the spa, you’ll feel like you’re living in a Zen retreat year-round.

O U R COVE R 225 Broken Head Road, Newrybar Listed by Amir Prestige Byron Bay PAG E 3

HOT PROPERTY Editor: Josephine Huynh Editorial producer: Hailey Coules Group picture editor: Kylie Thomson Senior designer: Colleen Chin Quan Graphic designers: Emma Staughton, Nicole Gauci National magazine editor: Natalie Mortimer 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, Western Australia, South Australia, Northern Territory & Tasmania Ray van Veenendaal 0438 279 870 New development sales: Ivan Curic 0413 498 156 Media sales: Sam Hill 0438 348 998 Contact: editorial@domain.com.au

2 PR E ST IGE

DESIGN DIGEST Cool, calm and collected

FEATURE STORY The best money can buy

LIVING IN Riverside and loving it

THE PROPERTY INVESTOR Helping hand to loan approval

5 6 9 11

Toorak Melbourne 50 Clendon Road $23 million-$25 million

Expressions of interest: Close 5pm, April 26 Agent: Forbes Global Properties, Michael Gibson 0418 530 392 Considered one of Nicholas Day’s finest homes, with a tennis court, pool and pavilion, and manicured gardens, this timeless property has been restored by designer Amy Spargo. Herringbone parquetry, wall panelling, richly patterned wallpapers and a new conservatory all add to the appeal.

Newrybar

Collaroy

Northern Rivers 225 Broken Head Road

Sydney 15-17 Birdwood Avenue

$20 million

$9.5 million

Auction: 1.30pm, April 15

Expressions of interest: Close 10am, April 20

Agent: Amir Prestige Byron Bay, Amir Mian 0401 470 499

Agent: Belle Property Dee Why,

As beautiful inside as it is out, Cedar Hill is a luxury, barn-style retreat with a

Brendan Pomponio 0411 845 119

pool set on two hectares a 15-minute drive from Byron Bay. The interiors

Perfect for dual-family living, this home features

showcase recycled timber, blackbutt wall panels, bohemian textiles, grass-

separate entries to a ground-level, two-bedroom

cloth walls and natural stone, with custom furnishings included in the sale.

apartment and a three-bedroom dwelling above.

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UNDER

Artist’s impression.

*Prices subject to change without notice.

CONSTRUCTION

LUXURY 2 & 3 BEDROOM APARTMENTS NOW SELLING FROM $935,000* CONSTRUCTION IN PROGRESS | Enjoy the wonders of Broadbeach from your premium Amaya residence set just 300m from the shore. Stretching 33 storeys high and with exclusive residents-only amenities, Amaya offers an effortless beachside experience. • • • •

Peaceful location in the premium residential end of Broadbeach and only four homes per level. �� towards the ocean and Hinterland. Luxurious and sophisticated, these are homes of timeless and enduring �� Construction in progress, estimated completion late 2024.

Display Suite Open

Open 7 days, 10am to 3pm Shop 16/17 Albert Avenue, Broadbeach FOR MORE INFORMATION: 0428 373 564

amaya-broadbeach.com.au

DESIGN DIGEST

Mood boosters The strength of design lies in its capacity to create serene spaces in which we can feel at home. C o m p i l e d b y PAU LIN E M O RRIS SE Y TAKE A BREATHER Encouraging moments of respite and relaxation, the Matador Chaise by Coco Republic exudes a sense of softness and comfort. Its curvaceous stainless steel frame, wrapped in textured boucle fabric, fills a space with casual sophistication. cocorepublic.com.au

CLOUD COMFORT Create endless configurations with the Rhythm Sofa by Casa Blanco. It features a modular design with detachable cushions able to slide back and forth and be angled to adapt to different positions. Available in the colours Mojave, savannah and sierra white. casablanco.com.au

LIGHT PLAY

STEP IT UP Lending an air of cosiness to any environment it graces, Muuto’s Relevo Rug exhibits a

Composed of recycled

striking geometric pattern. It’s crafted with trimmed wool at different depths and with a rounded

cast aluminium, the

edge, finished in various nature-inspired tones. livingedge.com.au

Oyster Wall Lamp by Ferm Living has an organic shape reminiscent of oyster shells. Casting a golden ambience, its rough texture and LED light source produce a fascinating dance of light and shadow. fermliving.com

ADAM FLIPP

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FEATURE STORY

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hey’re the places where Australia’s bestheeled millionaires and billionaires live – leafy, tree-lined streets, often with big blocks of land and sometimes with gorgeous water or city views. Every state capital has its own alpha row where oversized homes command sky-high prices and provide ultra-luxurious living, often shielded from the eyes of curious onlookers. In Sydney, it’s Wolseley Road in Point Piper. The most expensive street in the nation’s priciest city saw a house price record of $130 million set late last year by tech mogul Scott Farquhar. “And that wasn’t even waterfront!” says Highland Property director Bill Malouf. “The ones on the waterfront have that beautiful unrestricted view of the harbour between the two icons, the Opera House and the Harbour Bridge, with the perfect northern outlook and natural sunlight all day. Other huge sums of money tossed around on the prestigious one-kilometre stretch have included the $95 million sale of Edgewater – although John Symond turned down a

Millionaire rows: our most expensive streets Home to ultra-private Rich Listers, these thoroughfares command the highest prices – and it’s all down to the address. B y SU E WILLIAMS

$110 million offer for his bolthole in 2017 – while speculation mounts about the consolidation of three houses into a mega-estate that could be valued at over $100 million. Among the street’s other residents are Westfield chair Frank Lowy, Hungry Jacks’ Jack Cowin, investment banker Paul Uren and Primo Smallgoods’ Paul Lederer. In Melbourne, the equivalent blue-chip street is St Georges Road in Toorak, which runs between Toorak Road and the Yarra River

“It has very large estates with beautiful old buildings, and a high pedigree of people who’ve lived there for a long time,” says Kay & Burton managing director Ross Savas. “Those houses rarely change hands as they’re tightly held by captains of industry and remain in families for generations. “Depending on the land size, they’re worth anything from $30 million to $100 million, or more. The fact that there are so few sales adds to the street’s prestige.”

Last year, an uninhabitable mansion was bought for an astonishing $88 million by gaming software entrepreneur Edward Craven, while another house on the strip is reported to be under offer for more than $70 million. A massive palace is also being built on the former Baillieu family estate by former softdrink boss and property tycoon Harry Stamoulis. Onlookers say it could be worth more than $60 million on the market if sold. Brisbane’s millionaire row is the riverfront – yet flood-free – King Arthur Terrace in Tennyson, which in late 2019 had a sale of $17.6 million, for the 10-bedroom house of Brisbane Broncos chairman and Ord Minnett executive chairman Karl Morris. Previously, the record had been a $12.5 million sale in 2021 for a 10-bedroom house further down the street to prominent barrister and tax lawyer Mark Robertson. “The $17.6 million house is a big Hamptonsstyle mansion on more than 4000 square metres of riverfront land that, if it was in Sydney, would fetch $70 million to $80 million,” says Jason Adcock of Adcock Prestige. “That street is north-facing – and there’s not many of those in Brisbane – absolute riverfront, with views of the Indooroopilly golf course and city, and filled with super-luxury mansions. “The residents tend to be very wealthy people, titans of industry.” Canberra’s equivalent is Mugga Way in Red Hill, with an $8 million sale for a five-bedroom home in 2020 smashing the record set a decade before by the house next door for $7.3 million. A few doors down, a house sold for $7.2 million in 2013, and another for $5.85 million in 2019. “The land sizes are the secret, with some blocks on the street 6000 to 7000 square metres,” says Sophie Luton of Luton Properties. “Many of the houses are heritage homes and it’s close to the centre while the views are of the foreshore rather than of other homes.” Perth’s top street is riverfront Jutland Parade in Dalkeith. Last year it recorded a $16.5 million sale – the highest since 2007 when a house at the other end of the street was bought for $18 million by

Clockwise from left: 2/59 Wolseley Road, Point Piper; waterfront homes on Wolseley Road; 2b St Georges Road, Toorak; 21 King Arthur Terrace, Tennyson.

Kerry Stokes’ Australian Capital Equity, which also snapped up the house next door in 2021 for $14 million. Billionaire Sultan Ibrahim Ismail of Johor is building a holiday mansion at the end of Jutland Parade, where it meets Iris Avenue, on a block he bought for $8.5 million in 2015. “That will be worth $30 million-plus,” says Porteous Properties International director Peter Robertson. “It’s such an exclusive riverfront street and it’s had more money spent on it than any other street in Perth. Far more modest is Adelaide’s front row – Victoria Avenue, Unley Park. A beautiful street lined with plane trees and substantial mansions, it had a top sale of $5.125 million in 2014. “I would say the median price there now would be around $6 million,” says Jamie Brown of Booth Real Estate. “The biggest homes would be worth $10 million-plus but not many of those have come up lately. “CEOs live there, professionals, people with their own businesses, but they all tend to be very private people and stay under the radar.”

Toorak Melbourne 2b 2 St Georges Road $2.4 million-$2.6 million

Expressions of interest: Close 4pm, April 19 Agent: Jellis Craig Stonnington, Peter Lloyd 0413 382 874 “This is the penthouse in a building of only three apartments, with a generous 210 square metres inside, and a 40-square-metre balcony,” says the agent. “It has an entire floor to itself and has that desirable north and west aspect.”

Point Piper Sydney 2/59 Wolseley Road $2.8 million

Auction: 2pm, March 11 Agent: Sydney Sotheby’s International Realty, Daphne Sauvage 0415 479 151 “It’s the ground-floor apartment of the beautiful ... art deco Chatsworth House,” says the agent. “This is a chance to buy a home on the most famous and most expensive street in Australia.”

Tennyson Brisbane 21 King Arthur Terrace $3.2 million+

Expressions of interest Agent: Ray White Paddington, Phil Waight 0411 124 364 “The owner spent $230,000 updating this twolevel house with a pontoon on the riverfront,” says the agent. “You’re north-facing on a very well-known street, filled with exclusive homes.”

PR E ST IGE

Landmark Main River Estate with Premium North-East Views

59 The Corso, Isle of Capri Scan for Listing

Contact Agent 6 52.7m*

Contact for a Private Viewing Sam Guo 0423 064 310 Julia Kuo 0402 668 885 Claire Dai 0432 318 746

6 + 5pdr 2,041m2*^

6 2,197m2*

Commanding an unrivalled position in Adams Basin, this landmark Main River estate offers true resort-style living in exclusive Isle of Capri. Facing north-east and spread across four blocks with 52.7m* of water frontage, a tri-level mansion delivers spectacular city and river views across Girung Island. The imposing architect-designed, Balinese-style residence spans more than 2,000m2* and has been carved out of sandstone, New Guinea rosewood, teak and Oregon timber. An entertainer’s paradise, the six-bedroom mansion including caretaker’s residence wraps around a central atrium where a teak platform is flanked by a wet-edge pool and water feature. Relax beneath lofty raked ceilings with exposed timber beams in a multitude of living spaces that give way to the outdoors. Surrounded by palms and with a private beach, the estate is an oasis in the heart of the city. *approximate ^under rooﬂine

LIVING IN

27.4481° S, 153.0586° E

BULIMBA TAMMY LAW

The riverside suburb of Bulimba is full of happy Brisbanites living the good life, according to the locals. B y PAU LIN E M O RRIS SE Y

YOU MAY LIKE ...

Bulimba

The laid-back, outdoorsy lifestyle that

outside and make the most of our beautiful

Queensland is famous for is exemplified in

Queensland weather,” he says. “These green

Brisbane 34 Shakespeare Street

Brisbane’s inner-city suburb of Bulimba, nestled

spaces are always buzzing with activities, from

$3.8 million-$4.2 million

along the riverbank, and begetting an all-

joggers and dog walkers to picnickers and kids

embracing lifestyle that keeps the locals local.

running amok at playgrounds.”

Some of the city’s most striking properties sit within this serene suburb, home to grand

Sunny and sweet

riverfront residences and majestic Queenslander-

Near several parks and the river, the

style houses, many of which have spellbinding

cosmopolitan hub that connects it all is Oxford

city views from vast verandahs and terraces.

Street. It’s lined with a mix of retail, dining, and

Suburban playground Brenton Faehrmann of Place Estate Agents says recent records show Bulimba’s property market

specialty haunts, including local institution Darvella Patisserie, where people from all over come to try the pastries at weekends. “We’ve been open for just over two years now

remains resilient, even during a downturn,

and have become a staple ... for pastries,

revealing a median price of $1.91 million, up

sandwiches, specialty cakes and coffee,” says

36.2 per cent year on year, as seen in the

executive chef Lindsay Krahenbring. “It’s always

latest Domain House Price Report.

nice to see people grabbing takeaways before

Expressions of interest

going for a stroll to check out some boutique

Agent: Place Estate Agents Bulimba,

stores or to take a stroll along the river.”

Matthew Hackett 0407 761 061

“It’s not hard to grasp the suburb’s appeal,” Faehrmann says. “All it takes is one look at its quiet, tree-lined streets, or one visit to its main

Residing in the next suburb over, Krahenbring

It’s prestige living at its finest in this new house,

thoroughfare, filled with shoppers and cafe-

speaks fondly of the area, noting how it takes the

with wine tastings held around the kitchen’s large

goers, and you’ll soon spot happy Brisbanites

charm of village living and wraps it up in a nice

island, sun-soaking enjoyed by the pool, and

living the good life.”

bow of city convenience.

movie nights held in the massive cinema room.

The CBD can be reached in 15 to 20 minutes by

“It captures that perfect balance of being close

car – less with a good run. And the river’s CityCat

to the city for its perks, yet far enough to enjoy

Italian restaurant

services take the same time. Even so, Faehrmann

some suburban peace,” she says. “Whenever I’m

IL MOLO is one of

says residents find few reasons to leave.

browsing through the Riverbend Books store or

many popular haunts

Hover your camera over the

having breakfast at Wholly Crumpets, it hardly

on Bulimba’s

code to see Domain listings

feels like I’m in the city, which I love.”

Oxford Street.

in Bulimba

“There is an exceptional amount of parks for the area that it covers, which inspires people to head

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The GlasshouseIsland glamour. PORT DOUGLAS The Glasshouse, one of Port Douglas’ most glamorous homes and a magical garden paradise is on the market. The three-level residence sits high on Island Point with panoramic views across Four Mile Beach, the mountain ranges, and the Dickson Inlet. Following a two-year top-to-bottom renovation importing Murano glass chandeliers from Italy, bespoke furnishings, and commissioned art playfully designed and curated in celebration of a joyful tropical lifestyle, The Glasshouse has been metamorphosed into a world-class residence of opulence to rival an ultra-luxury resort. 4

26 Island Point Road, Port Douglas For Sale | Contact Agent Barbara Wolveridge | +61 418 760 004

N OT H I N G C O M PA R E S . queenslandsothebysrealty.com

THE PROPERTY INVESTOR

LEIGH HENNINGHAM

Putting your trust in property For some investors, creating a trust is the only way to get the banks onside, but there are potential pitfalls to be aware of. B y SU E WILLIAMS

It’s not for everyone: trusts may open the doors with banks but potentially higher interest rates and tax implications should be taken into account.

usiness entrepreneur Monica Rouvellas decided early on that the best way to get ahead financially would be through investing in residential real estate and living off the income it generated. The big problem she encountered, however, was that banks weren’t willing to lend her the money for a mortgage without a permanent, salaried job – despite the fact she was earning a handsome income from her companies and casual work. “It was very frustrating,” says Rouvellas, now 34, a solicitor specialising in business structures, tax and property law as well as a musician and the inventor of the Muzikboxx app for music teachers. “The banks really slowed me down by refusing to take into account what I was actually earning, and despite the fact that I had deposits of 20 per cent saved each time, enough income to service a mortgage and the properties would be positively geared. “I kept thinking that there had to be a better way of buying property, especially when your

goal was to build a passive income through property long-term. “I generated more income as a sole trader than I could as a full-time employee, but the banks didn’t seem willing to recognise that.”

“The stronger the market gets ... the more we’ll see trusts coming to the fore.” Eventually, Rouvellas came across the idea of using trusts attached to a business structure. “That opened up a new world for me,” she says. “They can be complex to set up but banks can be happier to loan money to them and they aren’t subject to such onerous conditions.” Of course, borrowing money through trusts won’t suit everyone.

Domain Home Loans chief executive Kareene Koh says it’s critical that anyone considering this course of action has advice from a qualified accountant or tax professional. “You need to make sure it makes financial sense for you and your personal circumstances,” she says. “Banks can charge a higher rate of interest for loans through trusts than personal loans because the risk profile is different to that of a home buyer. You can end up potentially paying a premium for that. “In NSW, you may qualify for land tax up to a certain amount and may miss out on tax exemptions available. “There are also complex guidelines in place to make sure the system isn’t being used to dodge tax. It can be more complicated than it’s worth.” The popularity of using trusts for property ebbs and flows with market conditions, says Justin Doobov of Intelligent Finance. While some may choose them for their greater eligibility for loans, others might favour them for the greater protection they offer for assets. “We still see a lot of buyers preferring to have properties in their personal names because of the tax exemptions they may qualify for,” Doobov says. “But the stronger the market gets for investors, the more we’ll see trusts coming to the fore again. Some lenders will give more if the loan is through a Pty Ltd company … but the trusts can be very complicated to set up, manage and provide … tax returns for.”

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‘FIDDLEHEAD FARM’ REESVILLE SUNSHINE COAST QUEENSLAND 12 P R E S T I G E

This exclusive lifestyle retreat showcases unparalleled privacy and security, situated at the very end of a private lane offering breathtaking views of the Conondale Valley. Designed to establish the ultimate family sanctuary, every detail of ‘Fiddlehead Farm’ has been crafted with the highest level of materials and building integrity. Comprising a staggering 358 acres spread across two titles, ‘Fiddlehead Farm’ provides the perfect setting for equestrian pursuits, river walks, and observation points across wildlife sanctuary trails. Nestled within the most picturesque real estate the Sunshine Coast has to offer, this property is truly one-of-a-kind.

• 10 minutes from Maleny Village • Three separate orchards provide local and tropical produce • 9km internal roads trails including 3km bitumen • 3km meandering frontage to Elamen Creek • Rich fertile soils, cattle and horse grazing. • 100kW solar array with battery and diesel backup • High speed internet connection • Stunning parterre and landscaped gardens • ‘Fiddlehead Farm’: Where luxury and nature meet

8 Bed | 6 Bath | 8 Car | 144.85 ha Price: $25,500,000 Inspect: By private appointment Danny Redman Office

0418 731 588 (07) 5445 2844

www.kenguybuderim.com.au PR E ST IGE

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BOUTIQUE RETIREMENT RESIDENCES Located in prestigious Elizabeth Bay, Trebartha by Ardency is an elegant sanctuary, only moments from the heart of Potts Point, providing the perfect balance of luxury and convenience. Ardency.com.au 1800 550 550 BEYOND EXPECTATION. FEEL EXTRAORDINARY. LIVE EXCEPTIONALLY.

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1730 Currumbin Creek Rd, Currumbin Valley, Gold Coast QLD 3

John Fischer & Shelley Watkins 0478 071 623 | 0474 141 551

52.35ha

Extremely rare property with 5 titles on 129.45 acres with your own private waterfall and beautifully restored farm house. Create your own perfect hinterland retreat offering complete privacy just 20 mins to the beach and 25 mins to the Gold Coast International Airport. Set within a beautiful botanical environment you will find first grade infrastructure for grazing livestock including cattle yards and water troughs in all paddocks. • Machinery Sheds • Restored Party Barn • Original Rustic country barn • Palm tree-lined entrance.

1706 Currumbin Creek Rd, Currumbin Valley, Gold Coast QLD 3

John Fischer & Shelley Watkins 0478 071 623 | 0474 141 551

26.305ha

The perfect place to call home! An established nursery set over 65 acres with huge potential and absolute privacy. It will be sold with the following: 114 x Large Canary Island Date Palms • 45 Large Ponytails • 450 Livistona Australis (Native QLD Palm Trees) • 591 Large Dracaena Draco (Dragon Tree) • Raphus Palms (Large plantation in ground) • 350 Large Xanthorrhoea Glauca (Grass Trees) • 4 Macrozamia Moorei (Rare Australian Cycad) • 10 Bottle Trees • Bore • Flat useable land • Fully renovated 2 bedroom home • Character filled 1 bedroom cottage. PR E ST IGE

4 3 K ATO O M B A R OA D

Beaumont

5 a 4 b 2 c 1 d 700 f m2

If you’re looking for a standout home base that allows you to prioritise family time daily, meet the Beaumont residence where ‘Architectural’ and ‘luxurious’ both feel like wild understatements.

Contact Agent For Sale Taylor Bishop 0409 256 092 Millie Unger 0401 000 346

RL A RLA 226409

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"Cedar Hill" "THE ASPEN MALIBU LOVE CHILD" - AUSTRALIA'S MOST BEAUTIFUL HOME!

225 BROKEN HEAD ROAD, NEWRYBAR 8

5 Acres*

The perfect property is a place where calmness calls, fusing relaxed luxury with picturesque tranquillity. Such a rare destination does indeed exist with "Cedar Hill". Revered as one of Australia's most beautiful homes and boasting lush hinterland and ocean views, it is a spectacular showcase of international design and unique architecture. Cocooned within five acres of absolute peace and paradise, two premium hardwood residences rise up from this elevated, northeast-facing estate. Linked by a glass-lined walkway that nicely separates social and sleeping quarters, elegance blends skilfully with cutting-edge design, including retractable glass walls, soaring ceilings with exposed timber beams and polished concrete floors.

AUCTION 15TH APRIL 1:30PM ON-SITE Please call to RSVP prior to inspection Saturday 25th March 10:00am -11:00am Thursday 30th March 5:00-5:45pm

Contact the Listing Agents Amir Mian 0401 470 499 amir@amirprestige.com.au Oliver Hallock 0419 789 600 oliver@amirprestige.com.au Colleen Brunt 0437 533 943 colleen@amirprestige.com.au

Disclaimer: *= approx. PR E ST IGE

offermann.com.au