Domain Prestige - August 16, 2023

PRESTIGE

BASK IN THE SUN

Views around every corner

JOSEPHINE HUYNH

By KATE FARRELLY

Palm Beach

Sydney 46 Sunrise Road

$31 million-$34 million

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Expressions of interest

Agent: Christie’s International Real Estate, Shane Clinton 0402 477 777

With spectacular northerly views taking in Pittwater, Palm Beach, Lion Island and the Central Coast, every day will feel like a holiday at this award-winning home showcasing cantilevered features, elegant curves and sandstone walls. The multilevel residence comes with superb custom appointments, an infinity pool, sauna, gym and a separate self-contained studio.

OUR COVER

46 Sunrise Road, Palm Beach

Listed by Christie’s International Real Estate

PAGE 4

It was nostalgic to read about Canberra in this edition’s Living In feature. My affection for the capital runs deep, and when I look back on my 12 years of living there I realise the city houses some of my biggest life milestones. It’s where I studied journalism, where I got my first boyfriend (not as fond of those years, though!), where I lived in a sharehouse for the first time, where I bought my first home, then first investment, then first sale. I guess, in my line of work, that’s how I’ve measure success, but after returning from a trip across Europe those things don’t hold the same weight for me anymore. I know we at Domain like to harp on about lifestyle, but that’s truly what it’s all about and there are plenty of dreamers among us. The power of an ocean view shouldn’t be underestimated. Our cover takes you to that place – euphoria. As do many other wonderful listings in this edition. HOT

Editor:

Josephine Huynh

Editorial producer:

Hailey Coules

Group picture editor:

Kylie Thomson

Senior designer:

Colleen Chin Quan

Graphic designer: Emma Drake

National magazine

editor:

Natalie Mortimer

Group content director: Mark Roppolo

Chief marketing officer: Rebecca Darley

Chief executive officer: Jason Pellegrino

Residential sales:

Queensland

Amanda Vaughan 0413 370 004

New South Wales

Joe Pinneri 0408 694 223

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

YELLOWTRACE

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LIVING IN

Best

ANSON SMART

THE PROPERTY INVESTOR

Make the most of depreciation 11

Lennox Head

Northern Rivers 44-52 Blue Seas Parade

$20 million

Lavender Bay

Sydney 11 King George Street

$16 million-$18 million

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Auction: 11.30am, September 2

Agent: Atlas Lower North Shore, Michael Coombs 0407 980 443 Built in 1886, Alta Mura is a grand Victorian mansion set within strolling distance of the harbour and McMahons Point village shops. With interiors by Anna Spiro, the property offers a flexible floor plan across two levels and includes a Miele-appointed kitchen and a dedicated home office.

Lake Macdonald

Shire of Noosa 116 Hayward Road

$17 million

Expressions of interest: Close August 24

Agent: Elders Real Estate Lennox Head, Nick Bordin 0423 238 062 The views don’t get much better in this coveted enclave than those found at this hillside property within walking distance of village shops and the beach. Alongside the custom home, separate studio and pool, the 3.5-hectare property comes with approved plans for an eight-lot subdivision.

Private sale

Agent: Tom Offermann Real Estate, Tom Offermann 0412 711 888

A tree-studded, lakefront estate spanning 19 hectares, Barellan offers a private sanctuary just 15 minutes’ drive from Noosa’s Hastings Street.

LIGHT SOURCE The Bicoca Portable Table Lamp by Marset, designed by Christophe Mathieu, was devised to illuminate life’s joyful moments. Made from polycarbonate, it features geometric shapes and an adjustable shade and is offered in myriad colours, including yellow, burgundy and pale pink. mobilia.com.au

Colour code

Farewell whitewashed homes with these vibrant works designed to infuse a splash of colour. Compiled by PAULINE MORRISSEY

ARTFUL DISPLAY The Bonbon Lampshade by Ana Kras for HAY blurs the boundaries between art and design. Inspired by her drawings, it uses an original hand-weaving technique and is available in various colourways, from minimal and classic to bold and strong. hayshop.com.au

STYLISH SIDEKICK Bonnie and Neil’s new Wave Side Table is a charming companion for any bedroom or living area. It’s crafted from moulded stoneware, finished with a sealed, painted glaze and available in a cheerful palette, including mustard, mint and chocolate. bonnieandneil.com.au

FRINGE FEATURE Capturing the imagination of its designer, Elliat Rich, the Weaver Cabinet is truly a unique creation, made of solid oak shelves adorned with aluminium handles and embellished with a hand-dyed nylon fringe. It is produced in copper or ultra blue, with custom colours available. designbythem.com

by DANA TOMIC HUGHES YELLOWTRACE

Step inside the heady world of Black Diamond – a remarkable transformation of a three-storey family home by YSG Studio in the picturesque Sydney suburb of Mosman. Once grey and sombre, it is now anything but. From the entrance to every corner is an immersive journey through tactile havens.

YSG Studio’s primary objective was to assemble a home reminiscent of a lavish boutique hotel, with an abundance of tonal intensity and devoid of excessive embellishments. This is where the real magic begins.

YSG Studio director Yasmine Ghoniem was the creative mastermind behind the project. When we ask about the initial brief, she says “the clients wanted the home to feel like a boutique hotel where super-comfy settings invite you to pause and feel more present in the moment”.

The opulent interior is a mesmerising interplay of soothing colours, velvety marmorino finishes and jewel-hued glass bricks. Touch and tactility were pivotal in the fabric and finish selections, creating a deep connection with every surface.

The attention to detail is evident in every corner, from the embossed vinyl and raffia-weave wallpaper adorning the main suite’s wardrobes to the boucle wool seating on the curved banquette and the soft alpaca and wool herringbone weave lining the lounge room’s sofa.

With a radiant glass brick wall and pale timber treads, the upper level leads to a subaquatic world of teal highlights beneath a velvet-textured toffee ceiling.

“There’s a dark broodiness with the timber elements, plus the ceiling and floor tones,” Ghoniem says of the living space. “The pastel swirls in the large David Bradley canvas you encounter when you land on this level – it really sets this submerged scene. You slow down, take in the view and just surrender.”

The magic extends outdoors, where a light crazy-paving unifies the garden area, complete with a fire pit and cushioned seating nook.

The once-grey house that’s now a hotel-like haven

ANSON SMART

COURTESY OF JONES

‘Super-comfy settings invite you to pause.’

“My favourite resting place is outdoors, where we built a cantilevered platform supporting an upholstered lounge over the pool,” Ghoniem says. “It adds a retro Palm Strings feel ... and the harbour view becomes the bonus.”

Another hero moment is the kitchen island bench, a sculptural masterpiece that shimmers with black mosaics, marble and glass blocks.

“I love its quirky, useful purpose,” Ghoniem says. “The mosaics flow onto the floor like a path across the length of the room, enticing outdoor activity by flowing across the balcony.”

The transition to the main suite features a deepened threshold of rosso travertine, like a portal that ushers a sense of luxe retreat.

All personal spaces were thoughtfully designed, including the powder room with its angled Tiberio marble vanity and the intimate lounge area. The spatial smarts are reflected in oversized pivot timber doors, tactical positioning of mirrors, and custom timber entrance and cellar doors with circular motifs.

Structurally, the design faced its fair share of challenges. The home’s mid-level was a maze of partition walls, but YSG Studio fearlessly gutted

the space to create an expansive living area. “It seemed like a bolshy move as it meant we reduced the internal footprint, but it enabled the balcony to become one open area that could accommodate an al fresco dining setting and lounge area,” Ghoniem explains.

The journey toward completion wasn’t without its twists and turns. The pandemic’s arrival added a layer of complexity, with the project taking almost three years to complete. However, it all culminated in a heart-warming moment when the client’s wife, who never saw the building during construction, was blindfolded by her husband. On uncovering her eyes, she was overwhelmed, realising she would soon call this extraordinary creation her home.

A testament to YSG Studio’s creativity, resilience and passion for design, Black Diamond has elevated the concept of residential living to a new dimension. The dreamlike transformation of a once-grey house into an opulent boutique hotel-like haven stands as inspiration for all who see it.

yellowtrace.com.au

RED HILL

In the heart of Australia’s capital, the peaceful suburb of Red Hill shines as an exclusive neighbourhood of choice, where tree-lined streets gently wind through stately blocks, leading to grand homes and lush, expansive yards. Here you awaken to the melody of birdsong, children head to highly regarded schools, and adults enjoy quick commutes to the city.

The weekend welcomes nature enthusiasts to the spectacular Red Hill Nature Reserve, while social butterflies flock to local cafes, or partake in leisurely shopping sprees at the nearby Manuka Shopping Precinct or Kingston Foreshore.

Comfort and convenience

Alexander Smout of Belle Property Canberra says the suburb is a magnet for local and interstate families looking for homes close to good schools.

“We are meeting many families drawn to this area due to its exemplary private and public schools,” Smout says.

“This firmly places Red Hill on the map for those seeking a harmonious, family-friendly atmosphere, and one that fosters an enriching way of life.”

Smout further highlights that Red Hill is an allrounder address where life is easy. This means properties are tightly held, underpinning supply and demand in favour of home owners and ensuring secure capital growth.

“It’s one of those special suburbs that allows residents to enjoy suburban bliss without sacrificing the amenities and job opportunities of the capital city,” Smout says.

“Thanks to the reserve, it also houses spectacular walking trails, plus the Red Hill Lookout offers breathtaking views of national landmarks and panoramic views of Canberra.”

Heartwarming hospitality

Alex Piris, owner of Fox & Bow cafe, relishes the south-side suburb’s sense of belonging.

Red Hill is “buzzing with families, young professionals and cheerful retirees accompanied by their dogs”, Piris says. “We feel most at home in suburbia and have felt deeply connected to the local community since we arrived at the beginning of the year.”

Listing its charms, Piris raves about the suburb’s other top-tier offerings, emphasising the quality and variety that encourages residents to get out and about.

“Brendan at the local supermarket has done an amazing job with the recent refurbishment, stocking not only great quality produce but also an exceptional cheese and wine selection,” Piris says. “Then there’s Tony of the RedHill Butcher Shop, long known for his Christmas hams.

“The quality of meats in his dry ageing cabinet is next-level.”

YOU MAY LIKE ...

Red Hill

Canberra 31 Pelsart Street

$4 million+

5 4 2

This elevated, north-facing family home, reimagined by architect Terry Ring, boasts a grand entry with a pivot door and several living areas featuring floor-to-ceiling windows.

Auction: 1.30pm, August 19

Agent: HIVE Property, Josh Morrissey 0437 799 234

The Telstra Tower on Black Mountain seen from the spectacular Red Hill Nature Reserve.

From blue-chip schools to green reserves, Red Hill is an ACT area much favoured by well-heeled families.

By PAULINE MORRISSEY

Hover your camera over the code to see Domain listings in Red Hill

Get an appreciation for depreciation

Tax savings through the depreciation of investment assets are designed to encourage more investment, so why miss out?

By SUE WILLIAMS

One in four investors don’t claim the correct amount of depreciation due on their properties, potentially losing out on thousands of dollars every year, says a leading expert in the field.

By not using a qualified professional to assess what is due, and trying to either draw up a DIY depreciation schedule or rely on developersupplied schedules with new homes, they’re often underestimating what they should be applying for.

“It’s an area that isn’t well understood,” says BMT Tax Depreciation chief executive Bradley Beer.

“We’ve been trying to educate people for 25 years now, but still every day there’s a solid percentage of investors who aren’t taking full advantage of depreciation.

“We estimate that 75 per cent aren’t claiming as much as they could, and are leaving that cash to the Australian Tax Office instead.

“The average deduction we make in the first year tends to be around $9000, while the average claim at the ATO is $3500.”

The biggest misconception, Beer says, is that depreciation – the rate at which assets decline in value and the tax deductions that are claimed as a result – can only be claimed on new properties.

“That can mean 40 years of claims,” Beer says. “We’ve done 800,000 inspections of those in the last 25 years, and we look at the paperwork, then visit the site for a detailed inspection to look for everything that can be claimed.

“Developers may give you a depreciation schedule with, say, a new apartment, but they’re there to sell a unit, not to help you with tax. So, they might not be as thorough as you really should want.”

Property Returns managing director and quantity surveyor Liam Hannah agrees. He feels that too many investors rely on conveyancers or accountants to maximise ATOcompliant tax depreciation savings.

“You can understand that, to some degree, as there’s so much stuff to do when you’re buying an investment property or properties,” he says.

“But too many investors rely on professionals who are not too proactive about reducing their tax liabilities.

But deductions can be claimed on any residential rental properties built after 1987, as well as on renovations to old homes and the scrapping of items that they replace. Even with new properties, investors tend to claim less than they should to offset taxable income from the property and reduce the tax payable.

“Being able to claim depreciation is an incentive introduced to encourage more investors to come into the market and stimulate the amount of residential rental accommodation being offered, so it’s more important now at a time of housing crisis than it’s ever been.

“It’s critical that investors have proper, comprehensive depreciation schedules drawn up for claims now and for the future.”

Investors in managed investment trusts may also benefit from recent government changes to depreciation for the build-to-rent sector.

“We estimate that 75 per cent aren’t claiming as much as they could.”

Qualified specialists can help ensure investors are not underestimating claims for depreciation.

A Hamptons Masterpiece.

HAMILTON ISLAND

Step into a world of luxury and timeless elegance on Hamilton Island where this one-of-a-kind home awaits.

This architectural gem redefines sophistication in every detail with all the hard work complete. Rarely do meticulously renovated and extended homes exist on Hamilton Island, yet alone become available on the market.

With 6 bedrooms, 5 bathrooms, and a coveted north-northwest aspect, it boasts a prime position that offers not only protection from the tropical summer sunset but provides the comforting warmth of the winter sunset. Capitalise on this rare opportunity to purchase a freshly renovated home on Hamilton Island and turn your island dreams into reality.

6 5 2 1

Blue Sands - Hamilton Island

Contact Agents

Wayne Singleton | +61 416 024 168

Lynn Milsom | +61 415 039 060

Larimar, Airlie Beach

Contact Agents

Lynn Milsom | +61 415 039 060

Wayne Singleton | +61 416 024 168

LarimarThe Rarest Gem.

Welcome to a realm of sheer indulgence at Larimar, the Whitsundays rarest gem.

Nestled in the exclusive gated enclave of the Yangaro Resort, this opulent villa fuses Melbourne’s sophistication with the relaxed Whitsundays lifestyle.

Unveil the grandeur of this brand-new architectural wonder, where every detail has been meticulously crafted to perfection, inviting you to experience a lifestyle beyond your wildest dreams. This is where time seems to slow, and the world outside fades away, as if only to bestow this sanctuary with a breath of eternal tranquillity and privacy.

1 South Bank Trevallyn Landmark Victorian Residence With Breathtaking Views

Located in the most exclusive and tightly held pocket of Trevallyn, this landmark Victorian residence is being offered to the market for the first time in 16 years.

Pairing period opulence with contemporary brilliance, this property offers breathtaking panoramic city, river and mountain views. The grand and captivating façade has been impeccably maintained and is complimented by incredible manicured gardens.

Well-designed for everyday living and all-occasion entertaining with multiple formal and informal living rooms. Comprising of four bedrooms, all generous in size, the master bedroom features incredible views. The home features an award winning kitchen with imported Brown Emperador marble benchtops, Italian porcelain tiles and an expansive butler's pantry.

Bushby Creese 71 David Street, Newstead TAS 7250