Market Place
Brisbane’s most expensive homes: The top properties of 2018
Brisbane’s prestige market continued to go from strength to strength last year, with an impressive number of high profile multi-million dollar sales.
Here’s what the most expensive homes of the year sold for.
106-110 Virginia Avenue, Hawthorne
SOLD: $11,128,888
Agents: David Price and Garry Price, Ray White East Brisbane
The most expensive property sold in Brisbane last year changed hands in June, when former Arrow Energy chief executive Shaun Scott and his wife Sarah sold their riverfront trophy home for $11,128,888.
The jaw-dropping five-bedroom, six-bathroom home was reportedly purchased by millionaire Anthony Yap, who founded Good Price Pharmacy Warehouse.
The property features two swimming pools, a heated spa, a north-south facing championship-sized tennis court, a boat house, putting green and a private jetty.
27 Sutherland Avenue, Ascot
SOLD: $11 million
Agent: Coronis – Hamilton
The stunning Hamptons-style trophy home owned by Domino’s Pizza boss Don Meij sold for a record $11 million in an off-market deal in March last year.
The chief executive of Australia’s largest pizza chain had bought the home in 2016 from one of Australia’s richest female CEOs, Maxine Horne, and her Fone Zone co-founder and husband David McMahon, for $8.615 million.
Less than two years later, Mr Meij had pocketed a cool $2.385 million profit.
Set on a sprawling 2024 square metres of land, the lavish home has six bedrooms, marble en suites and a stunning outdoor entertaining space with resort-style gardens, infinity-edge pool, pool house with outdoor kitchen and expansive verandahs.
It’s located in one of Ascot’s – and indeed, one of Brisbane’s – most prestigious streets, where the previous street record was $10.2 million.
36 Needham Street, Fig Tree Pocket
SOLD: $7.5 million
Agents: Matt Lancashire and Christine Rudolph, Ray White New Farm
Clive Palmer bought this mega-mansion trophy home for a song when he paid $7.5 million in January 2018.
The sprawling seven-bedroom, nine-bathroom waterfront estate owned by embattled business owner Peter Bond had been on the market since Linc Energy went into receivership in 2016 with debts of more than $300 million.
Mr Bond and wife Louise paid $9.5 million for the property in 2009. At one stage they had it listed for sale for $11.9 million but had no takers, withdrawing it from the market for some time.
They took it to auction in August 2017 and despite strong bidding that reached $9.25 million, the couple instructed their agents to pass the property in.
By February, the news that Palmer had secured it for $7.5 million was out.
It was a busy year for Palmer on the property scene – later that year he snapped up a some new beachfront digs on the Gold Coast, dropping a cool $12 million on a Hedges Avenue house.
1A Eldernell Terrace, Hamilton
SOLD: $7.25 million
Agent: Alma Clark, Alma Clark Real Estate
Dominos boss Don Meij may have sold his spectacular Ascot home but he was hardly swapping it for something dire – property records show he settled on this hilltop Hamilton residence only one month before he sold his Sutherland Avenue house.
The five-bedroom, four-bathroom house set on 910 square metres of land features stunning city and river views.
150 Adelaide Street East, Clayfield
SOLD: $7 million
Agent: Matt Lancashire, Ray White New Farm
This landmark Federation home smashed blue-chip Clayfield’s suburb record when it sold in October for $7 million.
Home to the late Sir Edward and Lady Dorothy Williams for 60 years, Clonlara drew attention from buyers across the country keen to secure an estate of such significance.
Features include 3317 square metres of manicured grounds, two championship-sized grass tennis courts, a pool and stunning original period details such as a grand entry foyer to formal dining and lounge rooms, ornate plaster and pressed metal ceilings, solid timber walls and leadlight windows.
5/81 Moray Street, New Farm
SOLD: $6.5 million
Agent: Brett Greensill
The most expensive apartment sold in Brisbane last year was this luxury riverfront residence in the sought-after Aquila building on Moray Street.
Located on level five with knockout river and city views, the property settled in March.
It has three bedrooms, three bathrooms, three car spaces and expansive living areas that make the best of its position. The spectacular penthouse upstairs on level 10 is currently listed for sale.
30 Windermere Road, Hamilton
SOLD: $5.95 million
Agent: Dwight Ferguson, Ray White Ascot
Set on a sprawling 2024 square metres of land in one of Brisbane’s original prestige suburbs, 30 Windermere Road sold in April last year.
Perched high on the hill, the house has a 3000-bottle wine cellar, championship-sized tennis court, pool and beautiful period features.
30 Kitchener Road, Ascot
SOLD: $5.5 million
Agent: Matt Lancashire, Ray White New Farm
This ultra modern residence in the heart of dress circle Ascot, designed by top architect Shaun Lockyer, was lauded for its sophisticated yet innately practical design.
With five bedrooms and four bathrooms on 898 square metres of flat land, the house’s atrium-style design allows visibility throughout the whole house. With gardens designed by landscape designer Steven Clegg including a huge vertical garden at the back of the house, it was highly sought-after by buyers wanting that ultimate family home.
8 Sentinel Court, Cleveland (Raby Bay)
SOLD: $5.25 million
Agent: Ryan McCann, First National Cleveland
A luxury home in the Redlands described as “the ultimate beachfront mansion” sold for $5.25 million in September.
The six-bedroom house at Raby Bay sits in a street that locals liken to Hedges Avenue on the Gold Coast, renowned for its rich-list owners and multi-million-dollar properties.
The property sprawls on 1426 square metres of waterfront, has its own private beach, boat ramp, and seven-car garage with drive-through access to the sand.
No expense was spared when it was built 15 years ago — the kitchen cost $150,000 alone, and the nearly 15 metres of frameless, glass bi-fold doors cost the original owner $189,000.
There are only 16 houses in Sentinel Court on that stretch of beachfront, and they share a large boat marina which was built for their exclusive use.
41 Dickson Terrace, Hamilton
SOLD: $5.25 million
Agent: Dwight Ferguson, Ray White Ascot
This brand new contemporary home on Hamilton Hill didn’t even make it to being listed online before it was snapped up by a local Brisbane buyer.
Marketing agent Dwight Ferguson said the house was going to be sold by auction but two offers came in days before it hit the market, with one of them too good to knock back.
Spanning three levels with 180-degree views of the Brisbane River, the house has four bedrooms, four-and-a-half bathrooms and an internal lift.
80/35 Tribune Street, South Brisbane
SOLD: $5.2 million
Agent: Phillip Rand, YPM Group
The title of second-highest apartment sale of the year went to this sprawling 380-square-metre property on level 18 of the Emporium Residences.
Sold to a local Brisbane buyer in September last year in an off-market deal, the apartment boasts incredible river and city views, four bedrooms, 3.5 bathrooms, two studies and three car spaces.
17 Ningana Street, Fig Tree Pocket
SOLD: $5.1 million
Agent: Cathy Lammie, Cathy Lammie Property
This grand residence set on 13,000 square metres of land with 82 metres of Brisbane River frontage sold for $5.1 million.
Not only did it have the impressive river frontage with a private pontoon, it also had more than 160 metres fronting the adjacent Cubberla Creek.
The house has five bedrooms, five bathrooms, two studies, temperature-controlled wine cellar, gym, sauna, tennis court and pool.
127 Laurel Avenue, Chelmer
SOLD: $5 million
Agent: Jason Adcock, Adcock Prestige
Sold under the hammer in April last year for $5 million, this beautiful Chelmer estate is considered to be one of the best riverfront blocks in the area.
With 3122 square metres of land and 40 metres of river frontage, the property is grand and vast in proportions – it features a house with two levels across two buildings, beautifully manicured grounds with established trees, grass tennis court, pool and undercover terrace.
19 Lawes Street, Hamilton
SOLD: $5 million
Agents: Ken Scrogings and Clint Devereaux, Northside First National
The deal was sealed on this property in October last year. A stunning contemporary residence on Hamilton Hill designed by M3 Architecture, the house was an attractive proposition for families vying to get into the Ascot State School catchment.
The 500-square-metre house has five bedrooms, study, soaring ceilings, stunning city views, pool and large grassy backyard.
20 Priestley Road, Bridgeman Downs
SOLD: $4.9 million
Agent: Sarah Hackett, Place Estate Agents – Bulimba
This sprawling western suburbs residence was on the market less than 30 days before it was snapped up for $4.9 million.
Built in 2010, the house is a whopping 970 square metres under roof. Outside, there’s 10,000 square metres of land with a pool, 10-person spa, championship-sized tennis court and kids’ playground.
16 Scott Street, Hawthorne
SOLD: $4.875 million
Agent: Sarah Hackett, Place Estate Agents – Bulimba
Records show this European-inspired riverfront residence sold for $4.875 million in April last year.
The house has five bedrooms and three bathrooms on 791 square metres of absolute riverfront land.
27-29 Sutton Street, Chelmer
SOLD: $4.83 million
Agent: Jason Adcock, Adcock Prestige
Three days is all it took for this five-bedroom, four-bathroom riverfront estate to be snapped up for an impressive $4.83 million.
The resort-style property features beautifully manicured grounds, tennis court, pool and multiple outdoor entertaining spaces that take in the river views.
5/2 Scott Street, Kangaroo Point
SOLD: $4.5 million
Agent: Simon Caulfield, Place Kangaroo Point
Located in the exclusive residential building Walan, this luxury whole-floor apartment sold to a buyer who was relocating from a suburban house further out of the CBD.
Records show the 383-square apartment was sold just before Christmas last year.
58 Retreat Street, Bridgeman Downs
SOLD: $4.42 million
Agent: Sarah Hackett, Place Estate Agents – Bulimba
This gorgeous American-style estate set on just over a hectare was bought for $4.42 million in June last year.
However, its new owner has never lived there – he has already changed his mind and decided to buy another property. If this house is the one he’s offloading, the new place must be something incredible.
The house is light-filled and extravagant in scale — with an 800 square metre interior, it includes five bedrooms, four bathrooms and seven car accommodation. But it’s the grounds that are truly beautiful — sprawling, manicured and boasting a full size tennis court and multiple outdoor entertaining spaces, even the pool looks grand.
The house is now back on the market, listed with Brenton Faehrmannof Place Estate Agents – Bulimba.
Source: www.domain.com.au
Brisbane
Bid to Open Up Student Accommodation to Workers
Scape Australia plans to open up its student accommodation to essential workers and interstate travellers as it waits for international students to return to the country.
The group applied for a temporary change of use for its Atria South Brisbane property until the end of February 2023, providing accommodation for non-students in the 88 Ernest Street building.
This will “allow the applicant to effectively manage the impact Covid-19 has had on their Brisbane assets [six buildings in total]” according to the application.
“Prior to Covid-19 [December 2019], building occupancy in Brisbane was at 75 per cent currently the assets have an occupancy rate of 28 per cent as Scape’s primary market is international students,” the report stated.
“The proposed ‘other change’ will allow Scape to use the vacancies in its buildings to offer the Brisbane housing market an alternative to typical renting models [share houses and the like].
“Scape are hoping to host like-minded occupants within the building who are not students.
“Examples include interstate travellers who do not want to sign a six- or 12-month lease elsewhere but need to remain in Brisbane for three-plus months or hospital workers who are assisting in the nearby Mater with the Covid-19 response.”
This is the second time Scape has tried to change the use of the building—that proposal was rejected by the council in August last year due to parking and transport issues.
Overseas arrival numbers remain at record lows, according to the Australian Bureau of Statistics, which recorded a 99.1 per cent drop in visitor arrivals in February compared to the same period last year.
▲ Scape have multiple properties in Brisbane and more than 18,000 beds across the globe in development or operation.
To shape a recovery for the industry, federal education minister Alan Tudge announced a 10-year, whole-of-sector international education.
In 2019 there were 750,000 international students studying in Australia, accounting for a third of university enrolments.
“In 2019, we started the year with around 480,000 continuing international students, while another 150,000 entered Australia to study in the first half of the year, and a further 130,000 in the second half,” Tudge said.
“Closing the borders, of course, had a significant disruption on the international student sector.
“That normal pattern was not possible last year. While some started online, many also deferred their studies, preferring to wait until travel is again possible.”
Despite a lack of international students in 2020, Scape continued to expand its Australian portfolio, purchasing 252 serviced apartments in the Aurora Melbourne Central building for $125 million in November.
The group also lodged plans for four student towers on each corner of an intersection in Kensington and Kingsford near the University of New South Wales.
Article Source: theurbandeveloper.com
Brisbane
The cost of renting in Brisbane reaches record levels, outstrips Melbourne prices
For the first time in years, it now costs more to rent a home in Brisbane than Melbourne, with mass migration and a near two-decade low vacancy rate shooting median asking prices to record heights.
Amid tales of tenant bidding wars and rejected applicants reduced to tears, the latest Domain Rent Report, released Thursday, revealed the average weekly asking price for a house in the Queensland capital soared by almost 8 per cent to an unprecedented $440 per week over the past 12 months – and by 3.5 per cent over the past quarter alone.
The price hike means the average Brisbane tenant is now paying $10 more a week than their Melbourne counterpart for a house, and $25 more a week for a unit after prices for the latter rose by a slightly more modest 3.9 per cent over the year to a record-breaking $400 per week.
Domain senior research analyst Nicola Powell said the report marked a sharp turnaround for the city, with houses, in particular, marking the steepest annual increase in rent prices since 2008 following three strong consecutive quarters of rent gains.
“Melbourne house rents have been higher than Brisbane’s since about 2016 so what we’ve really seen in Brisbane since mid-2020 is an acceleration in asking rents and this really goes against what was happening in the lead up [to the pandemic],” Dr Powell said.
“They had relatively flatlined since 2013.”
Dr Powell said while Queensland had always been a hot destination for interstate migrants, the pandemic and the possibility of remote working had fuelled the trend with the annual number of Australians moving to the state hitting its highest level since 2006.
“Tenants will find less choice, with the pool of available rentals shrinking by one-third compared to last year, pushing Brisbane’s vacancy rate to a multi-year low,” she said.
“House and unit rents held steady or increased in all regions across Greater Brisbane over the March quarter, apart from unit rents in Ipswich sliding a mere $5 a week. Annually, the biggest jump in asking rent was recorded for houses in Brisbane’s north and Moreton Bay North, the steepest annual increase since 2008, up 6.8 per cent and 6.7 per cent annually.”
While rent prices indeed soared across most parts of the city it was the capital’s family-friendly pockets in the middle and even outer rings that shone brightest, with houses in Bald Hills and Everton Park enjoying the biggest annual price rise after surging 10.6 per cent to $520 per week.
Hot on their heels were Kenmore, Brookfield and Moggill, where median asking prices for houses shot up by 8.2 per cent over the same period to an unprecedented $595 per week – a rental price equal only to houses in the inner-city west region.
It’s a rare rental boom that Aurora Realty Brisbane leasing manager Abi Harrington said was reaching eye-watering levels – with their agency currently managing 100,000 tenants actively seeking a home.
“We’ve gone from houses taking three weeks to rent out, to three days and even down to three hours [in the past quarter],” Ms Harrington said.
“You wouldn’t believe the gifts I have received (from desperate tenants) from gin, to flowers to cheesecake and even a bottle of champagne.
“We used to have the policy that a tenant mustn’t apply before they’ve seen the property but now we say apply first if you like the photos … and if you get approved we’ll arrange a private inspection after [because rentals are being snapped up so quickly].”
As for the soaring rents in Everton Park and Bald Hills, Ms Harrington put the increase down to tenants being simply priced out of Brisbane’s more expensive inner pockets, with houses in quiet suburbs boasting a good school catchment the number one lure.
“I’ve just listed a property in Everton Park … and in less than 24 hours I have five inspections booked in … but sometimes we get up to 15 people in the first few hours,” she said.
“This is the height of it and it’s absolute chaos. On average tenants are offering $20 to $30 dollars over the asking price but some people are surpassing that. People from Sydney and Melbourne are cashed up and headed this way because buying a house is far cheaper here and Queensland is the obvious choice as the office doesn’t exist anymore.”
Ms Harrington said soaring interstate migration was a major contributor to rising rent prices, with some southern home hunters willing to fork out $90 per week more in a move that was causing much anxiety among Brisbane residents.
Properties for rent in suburbs like Chapel Hill and Kenmore are sparking bidding wars.
“Locals feel like they’re being pushed out … and I see this getting worse. And it’s not fair on locals living here struggling to meet that price range … and we don’t encourage [bidding wars] because we’re trying to manage expectations,” she said.
Ray White Metro West property manager Stephanie Budrodeen said with rental wars now a common occurrence in hot spots such as Chapel Hill and Kenmore, median prices, in reality, had soared beyond eight per cent to as high as 30, creating a scene more akin to an auction, with the charge being led by Melbourne families particularly desperate to bag a house in a top school catchment.
She said the pandemonium was further fuelled by the “nuts” sales market with some tenants pushed out by owners desperate to sell in a booming market, while others were forced to rent purely because there was nothing to buy.
“Two weeks ago, we just had one property [a two-bedroom unit] left on our rental roll … and that’s never happened before. But the downfall to all of this is owners think their properties are worth more than they are and this is going to make problems for the future when prices are no longer inflated,” Ms Budrodeen said.
“Tenants are in panic mode right now … and in my opinion this a ripple effect from the housing market.”
Article Source: www.domain.com.au
Ipswich
[+] Developer Ramps Up Hunt for Springfield CBD Investment Partner
Introducing The Urban Developer Plus (TUD+),
our premium membership for property professionals.
In this TUD+ Briefing, Springfield City Group’s Bob Sharpless discusses its global search for a partner to help deliver its $15-billion Knowledge Precinct that will complete the Springfield CBD.
The group has now put out a tender for a development partner to help deliver a new 120ha precinct, approved for more than 1.2-million sq m of commercial space and more than 5000 apartments.
This TUD+ Briefing covers:
—the mixed-use development opportunity for the partner
—education, health and technology uses across the site
—preferred partnership models and developer credentials
—the appointment of Moelis Australia to lead the search
—the impacts of Covid-19 on the global tender
—the timeline and projected announcement date.
Article Source: theurbandeveloper.com
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