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Brisbane’s prestige market on fire, starting spring with mega sale

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Brisbane’s prestige market on fire, starting spring with mega sale
This home at 77 Macquarie St, Teneriffe, has sold at auction for $4.6 million.
This home at 77 Macquarie St, Teneriffe, has sold at auction for $4.6 million.

IT’S been a strong start to spring for Brisbane’s prestige market, with one of the city’s most in-demand riverfront homes selling under the hammer for $4.6 million — chalking up the biggest sale in Queensland in the past week.

The luxury house at 77 Macquarie Street, Teneriffe, was snapped up at auction by a local family in another sign the city’s top end is on fire despite an overall cooling in the housing sector.

Set on the riverfront with spectacular views, the property is one of just 23 homes in the northeast facing Catalina development, and features four bedrooms, three bathrooms and 488 sqm of opulent living space spread over three levels.

Regarded as “the” blue chip riverfront investment when it was developed 12 years ago, the Catalina homes are tightly held and hotly contested whenever they go up for sale.

The view from one of the balconies of the Catalina home at 77 Macquarie St, Teneriffe.

The home at 77 Macquarie St was marketed by Matt Lancashire and Brandon Wortley of Ray White New Farm.

Mr Wortley said the property attracted four registered bidders at its auction on Saturday in front of a crowd of about 80 people.

The opening bid was $4 million and quickly rose to $4.55 million before it went on the market at $4.6 million and sold to the winning bidder — a local family looking for a change from their current riverfront home.

This home at 77 Macquarie St, Teneriffe, has sold for $4.6 million.

“Bidding was pretty quick, which is a really good sign — once it kicked off it was quite frenetic,” Mr Wortley said.

He admitted it was rare for top end homes in that price range to sell at auction in Brisbane.

“As you go up the chain in price, it does become harder, but that part of the market has just had such a good run in the past 12 to 18 months,” he said.

“Those people showing serious interest in the property weren’t people who are looking on the internet every weekend; they’re happy to wait in the shadows and then jump when something like this comes up.”

The living room at 77 Macquarie St, Teneriffe.

Macquarie Street is regarded as one of the premier streets for real estate in Brisbane, with Ray White New Farm selling about $30 million worth of property in this street alone in the past few years.

Mr Wortley said an entry level house on Macquarie Street cost “well in excess of $4 million”.

Recent sales include 37 Macquarie Street, which sold for $5.1 million in February this year through Hamish Bowman and Matt Lancashire, and 53 Macquarie Street, which sold for $5.236 million in March through Christine Rudolph.

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The outlook from the living room at 77 Macquarie St, Teneriffe.

On Teneriffe Hill, 48 Teneriffe Drive sold for more than $4 million, an architectural home at 78a Chester Street sold for $3.25 million through Belle Property New Farm.

And artist Wendy Moore and her architect husband Jonathan Williams fetched $2.85 million for their renovated home at 95 Little Chester Street.

Records show 77 Macquarie St last sold for $3.785 million in December, 2014.

Tara Routledge and Jon Haseler at the Magic Millions launch party in Surfers Paradise. Photo: Inga Williams. Mr Haseler has sold his riverfront Brisbane home for $4.6 million.

It was owned by the real estate developer Jon Haseler, who owns leading horse stud Glenlogan and is the managing director of QM Properties.

The house is on a 365sq m block and features multiple living areas, including a television room, a library, games room and an outdoor entertainment area.

This Catalina home at 77 Macquarie St, Teneriffe, has sold for $4.6m at auction.

The home is about 2km from the Brisbane CBD and is accessed through a private security gate.

It has hardwood flooring, fully-ducted, zoned airconditioning throughout and an alarm and intercom system.

There is an internal store room and wine storage.

Outdoor area at the home at 77 Macquarie St, Teneriffe.

The sale of 77 Macquarie St was the biggest transaction in Queensland this week, according to property data firm CoreLogic.

Another big sale this week was a contemporary four-bedroom, four-bathroom house at 179 Ninth Avenue, St Lucia.

It fetched $2.2 million at auction.

And a five-bedroom, three-bathroom house on 817 sqm at 17 Henderson Street, Bulimba, also sold for $2.2 million through Place – Bulimba.

Despite the strong results at the high end of the market, auction volumes were down in Brisbane for the first weekend of spring, with 136 auctions held.

The preliminary clearance rate increased to 47.1 per cent from 43.9 per cent last week.

On the Gold Coast, only 28 per cent of the 25 reported auctions were successful.

The view from the Catalina home at 77 Macquarie St, Teneriffe.
The home at 77 Macquarie St, Teneriffe, has sold at auction.

Originally Published: http://www.weeklytimesnow.com.au

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Residential

Brisbane’s penthouse listing of 2018 hits the market

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brisbane penthouse
A property billed as “Brisbane’s biggest penthouse listing of 2018” has hit the market, as demand for ultra-luxurious sky homes in Queensland’s capital shows no sign of slowing.

One of Brisbane’s very first sky homes, at 801/8 Kyabra Street, Newstead, has been transformed from an empty shell into a penthouse, which marketing agent Tom Lyne, of Ray White New Farm, described as “next level”.

Mr Lyne said listings of this quality and style were rare in Queensland.

brisbane penthouse
801/8 Kyabra Street, Newstead. Photo: Ray White New Farm.

“This is a property you’d see in Los Angeles or Sydney,” he said. “It’s pushing the boundaries in terms of what has been on the market in Brisbane before.”

The three-level apartment not only offers five bedrooms and bathrooms over a staggering 962 square metres, but also an extraordinary roof-top terrace complete with outdoor dining, an open fire pit and manicured gardens all serviced by a large wet bar.

As well as a heated infinity edge swimming pool and spa on the middle level, the roof-top views across Brisbane have to be seen to be believed.

brisbane penthouse
Views like no other: 801/8 Kyabra Street, Newstead. Photo: Ray White New Farm.

Owner Jordana Stott spent eight months designing every aspect of the property’s interior and roof-top, and admits the views will be sorely missed when she moves on to her next project.

“Just being able to crack a bottle of wine and sit in your private garden and look at that view is pretty spectacular. That’s something that we will miss. We love that part of the property,” she said.

The couple chose a penthouse over a house because of the plethora of lifestyle amenities right on their door step, she said.

At the time, she said, they wanted to be able to walk to restaurants and enjoy everything that Newstead had to offer.

“Being in Newstead, it’s such a new little hub that’s really booming at the moment. You’re so close to everything, but you also then get the luxury of having the privacy of your own lawn in a sky home – that’s very special,” she said.

“It’s really cool for Brisbane. It’s one of the first that’s coming through.

“Brisbane is really coming into its own. I think we’ll start seeing more sky homes, especially with the new casino being built.”

The first of two penthouses in the luxurious development 443 Queen Street recently sold off the plan for more than $6 million, making it one of the most expensive apartments ever sold in Brisbane. Agents have reported a shortage of stock in the luxury apartment market.

brisbane penthouse
A bedroom with a rather nice view at 801/8 Kyabra Street, Newstead. Photo: Ray White New Farm.

Mr Lyne said one of the Newstead penthouse’s many features was that the seventh level was completely self-contained.

“It’s extremely unique to Brisbane, probably Queensland for that matter,” he said.

“We’re getting a good cross-section of people who are specifically looking for a penthouse, but also buyers who may have been considering quite a high-end house locally, or on the river, who are now considering this because it’s over three levels.”

The property is scheduled to go to auction on Tuesday, November 13, at Ray White New Farm’s Auction Under the Stars event starting at 6pm at X Cargo.

brisbane penthouse
That rooftop: 801/8 Kyabra Street, Newstead. Photo: Ray White New Farm.

Features include:

Unrivalled city views, private infinity edge swimming pool, rooftop terrace and garden;

First level leads to four private bedrooms, two bathrooms, media room and kitchen;

Versace and gold cork wallpaper and bespoke Timothy Oulton chandeliers;

Double showers in every bathroom;

Two kitchens each with a butler’s pantry and double oven;

Multiple formal and informal entertaining and al fresco areas;

Gas fireplace in living area and outdoor fireplace on rooftop;

Two fully equipped wet bars;

Dressing room;

Alarm system;

Three large car parks and storage;

Built-in garden maintenance room;

Lift servicing each level;

Metres from top lifestyle precincts popular for great restaurants, shops and boutiques.

brisbane penthouse
801/8 Kyabra Street, Newstead. Photo: Ray White New Farm.
Source: www.domain.com.au
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Acreage blocks are selling hot at Yatala

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yatala

PIES aren’t the only things selling hot at Yatala — with acreage property flying off the market.

Doleman Property Group director Donna Doleman said this property, a four bedroom, two bathroom, lowset brick house on 5058sq m attracted about 30 groups and two written offers.

yatala

REAL ESTATE: 14 Alto Tce, YatalaSource:Supplied

“The new owners were devastated when they first saw it because it was under contract,” Ms Doleman said.

“When that contract fell over, it all fell into place for them.”

Ms Doleman said the new owners liked the location, the flat land and the house.

“They’re investors who will rent it out and move into it in about three years time,” she said.

The agent said acreage stock such as the property at 14 Alto Tce, which sold for $859,000, was in high demand.

yatala

REAL ESTATE: 14 Alto Tce, YatalaSource:Supplied

“Acreage is going unbelievably well,” she said.

“People are looking for bigger properties to get a bit of space between neighbours.

“I’d definitely like to see more stock, there is definitely not enough in the acreage market.”

According to CoreLogic data, the suburb median house sale price for Yatala is $739,000.

yatala

REAL ESTATE: 14 Alto Tce, YatalaSource:Supplied

Source: www.news.com.au

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Brisbane council’s ban on townhouses, apartments in low density areas is ‘backwards’

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Brisbane council's ban on townhouses, apartments in low density areas is 'backwards'

PHOTO: Brisbane City Council wants to stop townhouses and apartments being built in areas for single homes.(ABC RN: David Lewis)

A Brisbane City Council plan to stop townhouses and apartments being built in areas for single homes is “going backwards” in terms of urban planning, experts say.
University of Queensland Urban Planning expert Dr Dorina Pojani said the Lord Mayor’s attempt to “save the Brisbane backyard” could drive up property prices.

“If you have more apartment buildings in neighbourhoods it means that you have higher densities in those neighbourhoods,” Dr Pojani said.

“With higher densities you can support much better public transport, if you have very low densities … then public transport will never become viable.

Council’s opposition planning spokesman, Jared Cassidy, described it as “a multi-million-dollar mea culpa”.

“The same Lord Mayor who has waved through the worst developments in Brisbane’s history is now claiming he’s saving the backyard,” he said.

Dr Pojani said restricting the type of housing in certain neighbourhoods would just drive prices “through the roof”, and it had already produced “disastrous results” in the United States.

“We’re already in the middle of a housing crisis in Australia so it’s the opposite of what we need at the moment.”

“It’s caused urban sprawl, it’s caused problems with access to housing because housing prices end up being very expensive if you can’t have the higher densities that apartments provide,” Dr Pojani said.

“It makes neighbourhoods more homogeneous because there’s only certain people that can afford family homes.

“Now that we’ve seen all that of that experience from overseas we go and do the same thing in Australia, that’s very disappointing. It’s almost like going backwards.”

Lord Mayor Graham Quirk said the plan was about creating a city of neighbourhoods “to protect the Brisbane backyard”, with more than 100,000 people responding to the Plan Your Brisbane campaign.

“It’s about stopping the cookie-cutter style of townhouses in some cases that we have seen in our city,” Cr Quirk said.

Brisbane council's ban on townhouses, apartments in low density areas is 'backwards'
PHOTO:
 Experts say the plan will drive up property prices. (Giulio Saggin: ABC News)

He said 40 action plans had been developed, which would not contribute further to urban sprawl.

“People said they wanted the growth to occur around the inner-city areas, along transport corridors, and around the regional business centres and nothing has changed in that regard,” Cr Quirk said.

“What they do want though is greater protections in those single-dwelling areas of the city, that’s come through loud and clear and that will be provided.”

He said the council would also develop a new forum for residents to help guide the preservation of tradition designs, like the Queenslander.

Mr Cassidy hit out at the Lord Mayor’s close relationship with developers at the expense of residents.

“Brisbane’s had a gutful of the orgy of over-development,” he said.

“The same Lord Mayor who cut the number of car parks that unit developers have to provide is now trying to pretend someone else did it.

“The same Lord Mayor who has waved through the worst developments in Brisbane’s history is now claiming he’s saving the backyard.”

Source: www.abc.net.au

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