A Brisbane property power couple have placed their exquisite Queenslander on the market – offering a timeless slice of renovated real estate they say was the ultimate pandemic-proof paradise.
Dubbed ‘Magnolia’ and perched on a rare 1012-square-metre parcel ensconced in greenery, the magnificent five-bedroom homestead, at 108 Plimsoll Street, Greenslopes, was slowly transformed from an ageing cottage into a luxurious family abode by James and Angela Curtain, of Place Estate Agents Woolloongabba – with the result being a masterclass in old-world charm and modern elegance.
Featuring a wine cellar, a glass-framed saltwater pool, wool carpets and a carefully crafted layout blending resort sophistication with warmth and functionality – the home oozes a sense of style that Mrs Curtain said they spent over a decade cultivating before finally deciding it was time to downsize.
“This is one of our more memorable renovations and, because we’ve lived in it for longer than any other home, we will miss it,” Mrs Curtain said.
“We’ve hosted big family Christmases here and two 21st birthdays. We have lived in it and loved it for 12 years and even during COVID we had all our family here. We had our three boys and even their girlfriends and we had some beautiful times just cooking and entertaining and drinking wine so that it (the quarantine) was actually wonderful.”
The couple, who have had a long love affair with the quintessential Queenslander, said it was easy to see the potential of the grand old abode all those years ago, inspiring them to snap up the property off-market and undertake a series of major makeovers that included removing an old forte, extending the second level and transforming the carport underneath the house.
“We have moved quite a lot and we have renovated homes and built them, but then we found Plimsoll Street and we fell in love in with this home and the potential it had,” Mrs Curtain said.
“Because it was in its original form it had all the original fretwork there and the beginnings of some beautiful gardens with magnolia trees and then there was the privacy of the pool which we loved.
“But the garage was underneath the house and it wasn’t built in at all. It was just cement floors. Up the back was an old forte and that in time we got rid of and we also carpeted all the bedrooms.
“In the last three years, we completely renovated the whole home and we dug in underneath the garage. We’ve put in a new kitchen with marble, we built in the side verandah and created the study with timber shutters that provided a closed in space. We also installed an internal staircase to go downstairs to the wine cellar.”
With attention to detail at the forefront (an aspect of renovating that Mrs Curtain said was arguably the most important) the home now features a fireplace, three bathrooms, a full-sized home office, a home gym, the insulated wine cellar with a humidifier and 130 square metres of lawn alongside the kitchen, which opens up to the al fresco area with a professional bar set-up.
Additional elements include the airconditioning, ceiling fans, automated awnings and an outdoor firepit, alongside a full push sound and vision technology system on both levels that add modern functionality to the original character features such as high ceilings, VJ walls and timberwork.
For Mr Curtain, who is the Woolloongabba office director, these features combine to make an incredible family abode with the x-factor being the land.
“The thing that first caught my eye was (not only) the 1000-square-metre block but that both of the neighbouring blocks are the same size and even the blocks behind are of a similar size so you have a great sense of space from your neighbours,” Mr Curtain said.
“It offers a beautiful level of privacy and it’s a great place to relax and getaway. The other thing when we bought it is I could see that the living spaces had the ability to be transformed into the type of space we wanted.
“As a real estate agent, you do look at a lot of beautiful properties but the ones you think will work for you are few and far between.”
While they love the enduring style of the classic Queenslander while understanding the intricate details that make a home work for the modern family, even they couldn’t have predicted just how much their meticulous renovation would suit a post-pandemic world.
“I think you can see now that post-COVID there is a greater pressure to study from home and work from home and even the fact that we haven’t had the ability to travel means the space we have has become more critical,” Mr Curtain said.
“When we were renovating, we weren’t expecting it but when it [COVID] struck we were more than comfortable and able to accommodate teenage boys and girlfriends but also maintain our exercise and then when it came to entertaining and that wine cellar (we were thrilled).
“We are certainly going to miss the house and it will be a difficult transition but it’s time to move on.”
The property will go up for auction on May 15 at 11am through Denis Najzar and Chris Dixon, of Place Woolloongabba, and has already accrued buyer interest from locals, interstate buyers and offshore home-hunters.
Article Source: www.domain.com.au
Brisbane Housing Market Insights: May 2021
Brisbane housing market insights for May reveals increased demand for houses and approvals for new units has been underpinned by increasing consumer sentiment and a surge in interstate migration.
This resource, to be updated monthly, will collate and examine the economic levers pushing and pulling Brisbane’s housing market.
Combining market research, rolling indices and expert market opinion, this evolving hub will act as a pulse check for those wanting to take a closer look at the movements across the market.
Brisbane’s typically slow-moving property market has continued to rise as part of a once-in-a-decade boom that experts say could fuel a further 10 per cent rise in house prices in the coming year.
Brisbane house prices have soared to record heights for the seventh consecutive quarter, with tight stock levels and strong demand across all demographics increasing competition.
Investors have also made their way back into the market and competition is heating up.
The latest Corelogic home value index shows Brisbane dwelling prices have risen by 1.7 per cent on a rolling four-week basis.
Brisbane house prices advanced a further 1.8 per cent during April, pushing it up 6.2 per cent for the recent quarter and 9.6 per cent for the year to date.
The current median value for dwellings is $558,295 which is $10,000 higher than just a month ago.
^Source: Corelogic Hedonic Home Value Index – April
The resurgence of buyer interest in the Brisbane property market has meant that auction clearance rates have consistently been in the 70 per cent range.
Clearance rates across April notably higher for houses compared to apartments, reflecting broader trends.
Hot spots included Brisbane’s inner city, inner east, inner west and the inner north – where house prices skyrocketed by 13 per cent over the past year to $1.2 million, 13.2 per cent to $1.053 million, 10.4 per cent to $1.17 million and 13.1 per cent to $1.1 million.
Brisbane auction clearance rates
|Week||Clearance rate||Total Auctions|
|Week ending 11 April 2021||80.9%||123|
|Week ending 18 April 2021||72.7%||104|
|Week ending 25 April 2021||76.2%||105|
|Week ending 2 May 2021||76.0%||104|
^Source: Corelogic Auction Clearance Rates – April
Brisbane is experiencing one of the tightest rental markets in a decade on the back of high demand coupled with extremely low supply.
Across April, Brisbane’s rental markets are experienced a tightening of supply, with vacancy rates currently sitting at 1.8 per cent.
Rental returns and yields have significantly increased in Brisbane, with rents soaring from 5 per cent to 15 per cent.
Gross rental yields sit at 4 per cent for houses and 5.2 per cent for units—much higher than other capital cities such as Sydney and Melbourne.
Some of the tightest vacancies across the capital’s suburbs include Anstead (0.5 per cent), Birkdale (0.3 per cent), Capalaba (0.2 per cent), Ferny Hill (0.3 per cent), Gumdale (0.4 per cent), Manly West (0.5 per cent), Rothwell (0.2 per cent), Sandgate (0.5 per cent), Shailer Park (0.4 per cent), Thornside (0.3 per cent) and Wakerley (0.4 per cent).
Brisbane residential rental vacancy rate
|City||April 2021 vacancy rate||Monthly % change|
^Source: SQM Research – April
Rental stock on market
|City||April 2021 vacancies||Vacancy net loss|
^Source: SQM Research – April
Brisbane rent prices
|Type||Rent||Monthly % change||Annual % change|
^Source: SQM Research – April
Brisbane’s housing market has remained particularly unaltered by the closure of international borders, where historically high demand from overseas migrants has been disrupted.
Tight stock levels and strong demand across all demographics have made it incredibly difficult not only to find a property to buy but to also secure something at a reasonable price.
Loan data shows investors have started coming back into a housing market they had largely vacated and the boom is being driven overwhelmingly by established owner occupiers.
Another big part of the demographic buyer base helping drive demand in Brisbane has been first homebuyers.
Brisbane’s proportion of home loans that remained on deferral at the end of March was just 0.7 per cent, indicating a very very low likelihood of distressed selling.
The seasonally adjusted estimate for total dwelling units approved in Queensland in March was 4547, 12.1 per cent up on February’s figures.
Queensland building approvals
^Australian Bureau of Statistics, (Suspension of trend series between May 2020 and Jul 2020 due to Covid-19)
|Dwelling||Approved||Monthly % change|
Queensland home loan lending indicators
|Region||First home buyer loan commitments||First home buyer ratio – dwellings||First home buyer ratio – housing|
^Source: Australian Bureau of Statistics – March
|Region||September (quarter) 2020 arrivals||September (quarter) 2020 departures||September 2020 quarter net|
^Source: Australian Bureau of Statistics – September quarter 2020
Brisbane’s housing market: policy updates
Australia’s central bank will maintain low interest rates to support the country’s ongoing economic recovery and surging housing market, buoyed by its busiest Easter auction market on record.
Strong tailwinds will bolster the Australian economy through the second half of the year, but macro-prudential measures are likely to be introduced to ease house price pressures in 2022.
Queensland faces a “hard road” during the next four years as the state recovers from the coronavirus pandemic, Treasurer Cameron Dick says.
Brisbane housing market forecasts
ANZ economists forecast Brisbane house prices will rise by 9.5 per cent next year, as low interest rates and government stimulus flow through the economy while Commonwealth Bank updated its forecasts, projecting a strong rebound in prices across the second half of 2021.
CBA now expects Brisbane house prices to increase by 16.6 per cent to December 2022 compared to 13.7 per cent in Sydney and 12.4 per cent in Melbourne.
Westpac has also updated its property forecasts, with Brisbane real estate prices tipped to surge 20 per cent between 2022 and 2023.
Article Source: www.theurbandeveloper.com
Subdued Office Occupancy Underpins Need To Support CBD
The latest results of the Property Council’s office occupancy survey show that Brisbane’s CBD activity levels have remained flat during April, as the Property Council ramps up efforts to encourage workers to return to the city.
The survey revealed Brisbane’s CBD occupancy level had stagnated at just over 60 per cent in April, marking the fifth consecutive month of little movement in the return to workplaces.
The Property Council’s Queensland Deputy Executive Director, Jen Williams, explained that while flexibility will continue to be a major feature of workplaces and there remains a small risk of future lockdowns, there is still a long way to go until the CBD reaches the level of occupancy anticipated in the new ‘normal’.
“Activity levels in Brisbane’s office buildings not only affect workplaces and office landlords, but the thousands of small businesses and retailers that rely on high levels of foot traffic to turn a profit.
“All businesses in the CBD are interrelated and largely reliant on office workers. From dry cleaners, to take away outlets, to electronic scooter companies, everyone relies on the consistent foot traffic that workers generate.
“As a direct result of the state’s success in tackling the health pandemic and the relatively low level of restrictions remaining, Brisbane was an early mover in the return of workers to the CBD.
“Unfortunately, we have seen the number of workers heading back into the CBD stagnate over the past five months. To position Brisbane for the future and capitalise on the generations of investment that have gone before, we must break the habits of COVID and get our people back together.
“In other parts of the world where employees have been forced to work from home for longer, businesses are desperate to get back to the office, as they have seen their productivity stagnate.
“With the likes of Google and Apple announcing major return to the office plans once the vaccine rollout allows, Brisbane and Australian businesses will risk losing their first mover advantage if they don’t get their teams back to together.
“This is why the Property Council is working with Brisbane City Council on a campaign to not only attract workers back into the office, but to ensure they make the most of what local retailers, cafes, restaurants, and bars have to offer.
“The State Government and Brisbane City Council’s Brisbane Holiday Dollars initiative is welcome recognition of the important role the CBD plays in contributing to the broader state and economy.
“While much is being done, there is still a long way to go until CBD activity levels return to ‘normal’. The Property Council is keen to work across all levels of government and industry to bring activity back to our city centre.”
Article Source: www.miragenews.com
Major new tenant for Brisbane’s fast growing Airport City
The list of tenants at Brisbane Airport (BNE) will soon include the world’s largest distributor for home-brewing brands such as Still Spirits, Mangrove Jacks, and Grainfather following the sod-turning ceremony for a new facility at the gateway.
Bevie’s 2,600sqm state-of-the-art unit will be located within a Warehousing Industrial Duplex Facility on Grevillea Place in Export Park.
Martin Ryan, Brisbane Airport Corporation’s executive general manager for commercial, joined John van Rensburg, CEO and president of Bevie, and more than 20 Bevie delegates on site to mark the commencement of construction.
Van Rensburg noted that a number of Bevie delegates were able to take advantage of the trans-Tasman travel bubble and fly in from New Zealand for the event.
He enthused: “We are looking forward to calling Brisbane Airport home to our soon-to-be constructed, custom facility, and I cannot wait to see the look on everyone’s face when we move in at the end of the year.
“Our existing facility in Banyo has served us well but providing our team with a modern home will allow us to serve our retail partners across Australia more efficiently.”
Ryan said the addition of Bevie is a perfect example of BNE’s evolving Airport City and our ability to attract non-aviation related businesses to Brisbane Airport.
“Bevie’s arrival is very exciting for all of us at Brisbane Airport as it diversifies the mix of industries we have here on site,” noted Ryan.
“We have a number of exciting projects underway and a property assets portfolio exceeding A$1.7 billion. Bevie is a part of BNE’s exciting future, which includes the opening of the BNE Auto Mall in 2024.”
The remaining portion of Brisbane Airport’s new Warehousing Industrial Duplex Facility is a 1,900sqm site that is still available for lease.
“These two units will complete the last piece of real estate available on Grevillea Place, but we have plenty more sites available for everyone’s needs,” added Ryan.
The project is generating more than 30 construction jobs and is expected to be completed by December 2021.
Article Source: airport-world.com
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