SOUTHERN HIGHLANDS

Equestrian estates

JOEL ROBINSON

Horse play The lush Southern Highlands of NSW are attracting buyers keen to own facilities for their equestrian pursuits

he Southern Highlands is increasingly becoming a destination for equestrian devotees. Local agents report that the spurt in construction of private equestrian facilities has been well received by buyers in recent listings.

There has been a rise in both private interests and professional outfits. The late Malaysian billionaire Dato Tan Chin Nam was among those who sensed the capacity of the region. His Think Big Stud, a 122ha property on the Wingecarribee River at Bowral, has become recognised internationally as a nursery of champion thoroughbred horses. It was listed in 2019, although it did not sell, through Inglis Rural Property agents Sam Triggs and Jamie Inglis, who sought $20 million.

Think Big Stud, once known as Inverness Stud, was used to spell or breed four Melbourne Cup winners. It was originally bought in late 2006 for $3.525 million, with surrounding property purchased with the winnings of horse races. In 2017, Dato Tan Chin Nam leased Think Big Stud to Greg and Jo Griffin of Lime Country Thoroughbreds, who made the move from Hawke’s Bay.

The Southern Highlands appetite for equestrian pursuits escalated in 2014 when Malaysian horseracing tycoon Teo Ah Khing snapped up the Sutton Forest trophy estate The Chase. Khing, who established the China Horse Club, paid $5.8 million for the near 135-year-old, 40ha property and spent $4 million on a new stabling and office facility. A number of the club’s thoroughbred horses are now kept at the property. “The Chase is a beautiful location to visit and spend time in,” Michael Wallace, head of the China Horse Club’s Bloodstock and Racing recently said. “There are few places as relaxing. I know our thoroughbreds that spend time down here will enjoy it as well. Being an area of high rainfall, the paddocks will be green for most of the year, so our horses will benefit mentally and physically.”

Waratah Thoroughbreds at Moss Vale has been developed over the past 15 years by businessman Paul Fudge. Fudge bought more than 40ha and has created a state-of-the-art facility, adding a horseracing track in 2016 at a cost of $2 million. In 2017 Waratah shifted from running its 20 broodmares and started concentrating on racing and trading in stock. Ray White Bowral agent Michael Maloney says Waratah is possibly the most “exquisite racing complex anywhere”.

Belle Property Bowral agent Di Dixon says the likes of Think Big Stud and the China Horse Club have put the Southern Highlands on the map for equestrian lovers. “Certainly these high-profile studs have raised awareness of the benefits of the location, proximity to Sydney and transport logistics, along with the picturesque nature of large thoroughbred racing operations and the cachet that may add to surrounding properties,” Dixon says.

It’s become the norm for luxury homeowners in the Southern Highlands to provide amazing homes for horses. Drew Lindsay Bowral T

agent Karl Zabel says that over the past few years, a number of his weekender buyers have stipulated equine facilities as part of their requirements. He says most larger acreages now seem to include some equine facilities, including stables and arenas. “Properties with very serious facilities will attract the specialist buyers,” Zabel says.

Michael Maloney says there’s a slow movement of properties changing to equine pursuits from a number of different areas. “We have a large cross section of horse events, from thoroughbred racehorse, be it training, spelling or breeding, to harness racing, polo, eventing, dressage, pony club, cutting, cross country or just leisure riders.”

Kintyre House at Bowral headlines the latest offerings. Oracle prestige home builder Robert Matar and wife Jessica added equestrian facilities to the 2ha Bowral trophy property they bought in 2016 for $2.6 million. The facilities include a new American barn, an irrigated paddock for two horses, a dressage arena, shelter, two stables and a tack room. The couple also extensively renovated the three-level homestead as well as the grounds, which feature a heated infinity pool and spa with a cabana and a floodlit tennis court, also with a cabana.

In the formal gardens there are stone walls, a pond, a workshop and a custom-built chicken coop. The home has five bedrooms, five bathrooms, a home office, a gym and a games room. Di Jones Southern Highlands Bowral agent Lisa-Marie Cauchois, who says the home has all the mod-cons of a boutique hotel, is asking $6 million.

The Colvin family did the same at Linden Farm, their 4.5ha property in Kangaloon. After paying $1.575 million in 2015, they added top-of-the-range equestrian facilities. There’s now a 60 x 36 barn fitted with five Priefert boxes, a round yard, and six fenced paddocks with water. They also extended the homestead, which now has four bedrooms and a garden room. The family is asking $3.25 million through Belle Property Bowral agents Di Dixon and Victoria Lowe.

Clockwise from left: The stables at Kintyre House, Bowral, and its swimming pool; three views of Linden Farm Centra: Kintyre’s dining room

JOEL ROBINSON

Rising tide Sydneysiders are increasingly looking to their near north and buying prestige homes on the once sleepy Central Coast

he New South Wales Central Coast continues to attract increased buyer interest from Sydneysiders because of the lifestyle change it offers and its investment growth potential. Model Jennifer Hawkins has signalled that she’ll be trading Pittwater to head to the area. Despite the market bottoming in Sydney midway through last year, Belle Property Killcare agent Cathy Baker says that in 2019 the Central Coast’s prestige sector was the best she has seen in a decade. Her sales included Saltwood, a near-beachfront at Killcare that sold for $3.85 million in 2011, fetching a record $6.48 million.

“High-level holiday rental returns and good capital growth forecasts are attracting many to the Coast,” Baker says, with a sharp uptick coming from Sydney. She gets around 80 per cent of her buyers from the capital or overseas.

The downturn over 2018 and 2019 was not reflected in the volume of prestige house sales on the Coast. Last year there were six house sales over $4 million – the same number as in 2018 and 2017. McGrath Terrigal agent Mat Steinwede says Central Coast residents saw the resilience of the local property market. “The average Central Coast beachfront sale price in 2019 was $2.75 million, a huge increase of 19 per cent over the span of one year,” he says. “More than 45 beachfronts and 100 acreage properties sold in that year. We feel this energy will continue to rise in 2020.”

Cathy Baker sold a Wagstaffe home for $5.8 million, the highest waterfront sale recorded on the Central Coast. Between Christmas and New Year, she sold another Wagstaffe home for $2.5 million – $500,000 more than it traded for 12 months earlier.

As the values increase on the Coast, home owners are investing in high-quality improvements, given the lack of turnover on some of the most tightly held streets. Baker says the number of architect-designed homes reflects the evolving style of the area. “It has a very affluent demographic of investors who have an appreciation for high-quality homes and lifestyle,” she says. Investor Dennis Rabbinowitz spent $6 million turning a onebedroom tin shed on the Wagstaffe waterfront into The Wagstaffe House, which won the HIA Australian home of the year. Baker, along with Kiara Fardnava, is marketing The Courtyard House, a Macmasters Beach trophy, with a guide of $5 million. Matt Thitchener Architect designed the South Pacific Drive home in 2017, with the brief to create an environmentally sustainable retreat for three generations of the owner’s family. The Lshaped home focuses on a central courtyard with heated pool and is split into three wings. The black-clad main building has five bedrooms. Upstairs there is a parents’ retreat with ensuite and walk-in wardrobe. Set away from the main living space is a home office, TV room and artist’s studio. Two-bedroom self-contained accommodation adjoins the garage. The three highest prices paid on the Central Coast were for homes that fetched more than $7 million. There were two sales in Terrigal and one in neighbouring Wamberal, where the record has stood at $7.1 million, paid in 2016. A property on Ocean View Drive, Wamberal, is now up for sale through Steinwede and Trevor Hamilton, who are seeking offers around $5 million. The modern five-bedroom, 2005 built beachfront on 1100sq m features a two-level guest pavilion flanking the lap swimming pool and courtyard.

Steinwede says now that the Sydney market has bounced back, the prestige Central Coast bracket is benefiting. “We are seeing a number of Sydney buyers secure homes in this portion of the market,” he says. “With approximately 60 per cent of prestige property sales coming from out-of-area buyers, the performance of the marketplace overall is a crucial factor in the success of Central Coasts prestige sales.”

LJ Hooker Central Coast agent Tim Andrews says the Coast market is tracking closer to the Sydney market. “Our market usually follows Sydney by six months. However that gap is closing and the Central Coast is now reacting within three months. Due to prices increasing in Sydney, buyers are cashing in big in Sydney and then buying similar quality for less or investing in their super.” Andrews believes prices will stay firm and probably increase as the year goes on due to the lack of stock. He is marketing Jacaranda, a luxury Brisbane Waters home at Point Frederick, with $4.4 million hopes. The 1700sq m gardens, landscaped by Daniel Piazza house a separate cottage. The gardens run down to the water where there are two jetties, a slipway, a colourful boathouse and deep-water mooring. T

Top and above: Jacaranda at Point Frederick Right and below: The Courtyard House on South Pacific Drive, Macmasters Beach; Opposite page: A home at Ocean View Drive, Wamberal on the market for $5 million

Elysium, a luxury apartment development on Terrigal Drive, Terrigal, and the just-listed penthouse, below

errigal’s newest apartment project is Elysium, a luxury development by Central Real, the group headed by millionaire rich lister Tony Denny. Its mega penthouse, with a six-car garage, has just been listed, offering 223sq m of internal space plus 110sq m of terraces and 99sq m of carpark/storage space.

Denny says it is a “once-in-a-lifetime” opportunity for this kind of beachside apartment, given the level of luxury and detail. “You just won’t find an apartment of this size or location with a six-car enclosed garage and panoramic water views to the Terrigal haven, and right around Wamberal’s beach and lagoon.

“We’ve saved the best for last”, he says. “It’s what you’d expect to see in a luxury penthouse at Bondi or the Northern Beaches, but for a fraction of the cost of what you’d pay in Sydney.”

Access to the apartment on Terrigal Drive is through a private lift lobby. Wired with smart home technology, the apartment has five bedrooms, including a master with ensuite, a butler’s pantry in the gourmet kitchen and a gas fireplace in the living area. It’s designed to take advantage of its outlook, with outdoor entertaining areas and floor-to-ceiling glass looking over the waves.

McGrath’s Mat Steinwede is marketing the fourth-floor penthouse for auction on February 29.

Elysium set records on its off-the-plan launch through McGrath in 2017. One sale broke through the $20,000 per square metre barrier – the first time the Central Coast has seen such figures for off the plan.

Nearly three-quarters of all buyers in the 64-apartment block were already residents of the Central Coast.

Of the 10 apartment sales over $3 million in Terrigal, six come from two addresses: Terrigal Drive and Terrigal Esplanade. More than $2 million was paid for apartments in Star of the Sea, one of the strip’s first prestige projects when it was sold off the plan by Pat Sergi in 2003.

The highest price paid was in 2014 when Australian rugby coach Alan Gaffney paid $3.7 million for the penthouse in the then brand new Aria building.

The Central Coast apartment record was set in 2017 when an Avoca apartment in the Cathy Slater-designed Lighthouse block of just six was sold for $4.65 million by broadcaster Alan Jones. It had been rented out at $5000 a week when Jones owned it. T