This article is from the Australian Property Journal archive
THE sky’s the limit for prestige property buyers as several high profile offerings hit the market, as undersupply drives up prices in even the most exclusive markets.
Sporting a $20 million price guide, Qantas CEO Alan Joyce and husband Shane Lloyd’s luxury mansion at 12 Musgrave Street on Mosman Bay is being sold via Ray White Lower North Shore Group’s David Gillan and Geoff Smith.
Gillan and Smith sold the couple the harbourside home in March last year for $19 million, though they didn’t move in before relisting.
The 1908-built four-bedroom home includes a private deep waterfront jetty on the bay, with 433sqm of internal living space, the property sits on a 631sqm lot across from Sydney Amateur Sailing Club and is within proximity to top schools, shops and ferry and bus transport options.
While in Victoria’s Mount Macedon, the mansion featured in the upcoming Robbie Williams biopic boasts a $9.5 to $9.9 million price guide.
Pepperell Farm at 38 Syndicate Road features a Georgian-style residence on 18.21-hectares of land with English gardens, hedges and an avenue of 120-year-old oak trees.
Lisa Fowler, director at Mt Macedon Realty is managing the sale of the estate which, in addition to the five-bedroom, double-storey main house, includes a separate managers’ residence with three-bedrooms.
For those drawn to luxury apartment living, the four-bedroom, three-bathroom penthouse at N2101/35 Tribune Street is expected to sell for $30 million.
Up for sale for the first time in its five-years, the 891sqm residence sits at the top of Brisbane’s Emporium hotel, on the 21st floor and features a 15-metre infinity pool, six-car garage, 5000-plus bottle wine cellar.
Additionally, the new owner will have access to five-star hotel services including 24-hour concierge, room-service, valet parking and housekeeping.
Phillip Rand and Michael Jones from YPM Group Teneriffe are selling the penthouse via an expressions of interest campaign, set to close on 19 July.
Luxury residential homes, particularly in Sydney, are increasingly unavailable, with undersupply placing upwards pressure on already staggeringly high prices.
With Knight Frank’s latest Prime Global Rental Index, showing Sydney’s prestige rents are also growing, after a quarterly increase of 5.3% and 11.7% for the year.
“We are seeing this imbalance between demand and supply in both affordable and luxury residential market, with very low vacancy rates, hence why Sydney prime residential rents have experienced strong growth over the past 12 months,” said Erin van Tuil, head of residential at Knight Frank.
The luxury listings follow the circa $36 million sale of a mansion at 48 Vaucluse Road, after passing in at auction on a $35 million vendor bid.
Home to the Balagiannis family who hold a $100 million hotel empire across the Sydney CBD, the auction on 14 June saw 11 registered bidders and a highest real bid of $33.5 million.
This before Sean Huang of Concierge East negotiated a deal with between the buyer and Alex George and Peter Leipnik, sales agents at Bradfield BadgerFox.
