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Real Estate: 6 Carrington Rd, Bringelly

More than 250 land bankers and developers are eyeing a significant land parcel on a major thoroughfare to the Western Sydney Airport and Aerotropolis.

No. 6 Carrington Rd in Bringelly sits on 1.82ha of land and is being marketed as a major investment opportunity in the South Creek West land release area.

The property with a two-storey house and swimming pool is being offered via expressions of interest and is set to sell for upwards of $4.5 million, based on recent sales in the area.

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The South Creek West corridor is due to be rezoned shortly.

A mixture of commercial and residential developers have been made more than 250 inquires about the property since it launched last week. Colliers International manager Nick Estephen said he is receiving a wide buyer pool because everyone is waiting in anticipation as to what can be built on the land.

“The value of the land can only go up for here, so even if someone buys it and can’t use it for what they want, they still stand to make much more money in the coming years,” he said.

The major attraction of the property is due to it being located in the South Creek West corridor, which is one of the next areas to be rezoned around the airport precinct.

The Western Sydney Airport is due to open in 2026.

Artist impression of the Aerotropolis to be built beside the airport.

“It is about to be rezoned at any moment in the next few years, and could come sooner based off recent news the government plans to fast track development around this area,” Mr Estephen said.

“This is one of the best sites in the area due to it being positioned on a major road that heads to the airport and will be surrounded by $15 billion of worth of infrastructure and investment.”

The area, which is set to accommodate a population of more than 1.5 million people by 2036, is experiencing immense growth, with the CSIRO planning to build a research hub and Amazon committing to a 200,000sqm robotics fulfilment centre within the Aerotropolis.

No. 6 Carrington Rd in Bringelly is located on one of the major roads that leads to the Western Sydney Airport.

The address is currently tenanted for a gross income of $1000 per week and is one of the only land banking opportunities presently available in the area. Mr Estephen said despite lots of interest from buyers, he expects limited properties to be available in the corridor for some time.

“Most of the locals have been here their entire life and holding off to see what happens from a zoning point of view,” he said.

Mr Estephen, along with his colleagues Joe Sacco, Thomas Mosca and Harry Bui are seeking expressions of interest on the property until August 11.

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Racing car driver Scott McLaughlin and his wife Karly on the rooftop of Le Bain, Newstead, where they have just bought a penthouse. Picture: Liam Kidston

SCOTT McLaughlin likes his homes to be as super as the cars he races.

The two times Supercars champion and Bathurst 1000 winner is used to living life in the fast line, so he wasted no time in snapping up a penthouse in one of Brisbane’s hottest new apartment developments.

The 27-year-old and his wife, Karly, were living in a two-bedroom unit before deciding to upgrade to a skyhome in Cavcorp’s latest luxury project, Le Bain, in Newstead.

The four-bedroom residence is bigger than the average house at 244 sqm and McLaughlin is planning to call it home for the foreseeable future.

“We’ve sort of planned this,” McLaughlin said.

“We wanted a few more bedrooms for kids, potentially, so it’s a home that will at least start our little family.

“Now we’ve got this big house in the sky, in some ways, which is really cool.”

The private dining room on the wellness rooftop

The pair have always been fans of inner-city apartment living and would prefer it over a house in the suburbs any day.

“We really fell in love with apartment living, the easiness of it,” McLaughlin said.

“We’ve got access to amenities you’d have in a $10 million house at our fingertips — and we dont have to look after it.

“Security as well is a big thing because I’m always away.”

One of the selling points for the couple was the development’s 1000sq m private wellness rooftop, which includes a heated pool, magnesium spas, a detox sauna, a fitness centre, yoga lawn, private dining room and outdoor barbecue areas.

Almost all of the 128 apartments in the 17-level development were settled during the height of COVID-19 restrictions, with the project’s eight penthouses totalling more than $21 million.

Cavcorp managing director Damien Cavallucci said the settlement of 95 per cent of apartments in the project in the midst of a global health pandemic was an achievement.

“Le Bain’s unique features captured strong interest from current residents of Cavcorp’s earlier buildings, which resulted in an incredible phenomenon of renters turning into buyers,” Mr Cavallucci said.

A master bedroom at Le Bain Newstead

“Over 10 per cent of the presales at Le Bain originated from interest and inquiry from existing rental tenants in Cavcorp buildings.”

McLaughlin has just returned to the sport after a three-month break during COVID-19 restrictions.

The V8 Supercar champion moved to Brisbane from Melbourne in 2018, and despite all the travel involved with his career, he now calls the Queensland capital home.

“We fell in love with Brisbane, and it’s actually very trendy now,” he said.

“It’s starting to get very like Melbourne in its own casual way — except the weather’s better!”

McLaughlin and his wife are not alone when it comes to wanting a slice of inner Brisbane’s cosmopolitan apartment lifestyle.

Tens of millions of dollars have changed hands in recent weeks for units in new residential developments in New Farm, Newstead, Teneriffe and Kangaroo Point.

A living space at Le Bain Newstead

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The weatherboard farmhouse has been updated at 400 Princess St, Mannerim.

Another big sale is on the cards for the Bellarine Peninsula’s rural market with the listing of a premium farming property.

The 91.86ha land holding with a three-bedroom circa 1900 homestead, at 400 Princess St, Mannerim, is selling via an expressions of interest campaign.

Price hopes for the property are $3.5-$3.85 million.

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It has all the infrastructure ready to go for horse breeding, training and rehabilitation, as well as cattle pursuits.

Charles Rice agent Andrew Rice said the property had been run as a commercial operation with a manager is place for the past 15 years.

He said it was suitable for a range of agricultural pursuits, as well as being a beautiful place to live.

The land is on grey sandy loams.

“To get that size acreage on the peninsula is just so rare,” Mr Rice said.

“The current owners have had it for 15 years and they have done a lot to it, the fencing and pastures are all beautifully done.”

The Bellarine Peninsula has recorded a string of big rural property sales this year, including Olympian Mary Hanna’s multimillion-dollar home and equestrian training centre in Bellarine, which was listed with price hopes above $7 million.

The historic Leopold homestead, Toorang, on the shores of Lake Connewarre also sold for about $3 million.

The open-plan living area has all the modern comforts.

The interior has been updated but retains original features.

Mr Rice said while there was substantial horse infrastructure at the Mannerim property, the vendors also ran cattle there.

The weatherboard house combines original features like timber-lined walls and ceilings, leadlight windows and timber flooring with an updated kitchen and formal and informal living areas.

Tree shelter plantations are established surround 12 larger paddocks, 20 smaller holding paddocks, five day shelters and four stables.

There’s good infrastructure already in place.

The property is suitable for cattle and horses.

There are 10 dams and troughs fed by mains water throughout, plus electrified fencing.

Outbuildings include a machinery shed with a concrete floor and power, 10 timber holding yards, cattle yards with a loading race and a disused dairy.

Mr Rice said the property had a sealed road frontage and was 4km from the Drysdale township and 20km from Geelong.

Expressions of interest close on July 20 at 1pm.

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3 Niree Heights, Sandy Bay. Picture: SUPPLIED

OVER 120 Tassie homes have been sold in excess of $1 million in 2020.

Despite COVID-19, despite doomsday warnings from finance experts and despite regular old Apple Isle winter which can dull the level of transactions some — the market has keep on ticking along.

Per realestate.com.au, last month there were 15 residential sales for $1 million or more throughout the state, plus a bunch of farms, land holdings and commercial operations.

But lets stick to houses and units.

In June, four of these top end sale have priced revealed on the website between $1.075m and $1.31m with the rest undisclosed at this point.

In May there were 17 million dollar sales, plus 16 more in April, 24 in March, February was particularly busy with 33 and in January agents sold 16 homes at this level.

Allens Rivulet. Address on request. Picture: EIS

56 St Georges Terrace. Battery Point. Picture: Charlotte Peterswald.

Knight Franks sales consultant Abi Freeman sold five million dollar homes in June.

She sees her job as not just selling houses but also providing the reassurance that people are making the right decisions on their property journey.

During the early stages of the COVID-19 outbreak and beyond, this was vital.

Abi said she used FaceTime to walk people one-on-one through properties.

“It is all about having a connection with people,” she said.

A number of Abi’s top end sales were sight unseen to interstate buyers, but she said with FaceTime they often felt like they had visited the property they were interested in.

“People that have sold well recently have switched from sellers to buyers, they are still active in our market,” Abi said.

“A few people think they can find bargains but we are far from that stage at the moment.

“The lifestyle and the quality of homes available here are still fantastic for the price.”

Before Tassie’s most recent property market boom around 2015-2018, it was not common for the market to record in excess of 100 $1m sales in a calendar year.

15A Lord Street, Sandy Bay. Picture: Harcourts.

112 King Street, Sandy Bay. Picture: St Andrews Estate Agents.

Per Real Estate Institute of Tasmania data, the first time was in 2010 (104 sales at that level) then a drought of a few years before it happened again.

The State jumped over the 100 mark again in 2015 (109 sales) and never looked back.

By 2017 it reached 168, followed by a record-setting 181 in 2018. Last year dipped backward a little with a still healthy 175 transactions.

With 121 sales in the books already this year, it is fair to wonder where the market will finish up by year’s end. Will it slow through the rest of the year or go the other way and set a new benchmark?

If and when Tasmania’s boarders are reopened, what will the impact be — not just on the top end but the middle and most affordable ends of the market, too?

Will Springtime bring its typical bustling business to the marketplace plus some extra oomph with an influx of sellers that may have been holding off waiting to see how COVID shook out?

Time will tell.

2 Larooma Rd, Hawley Beach. Picture: One Agency

TASSIE’S BIG JUNE SALES

3/479 Churchill Ave, Sandy Bay – Knight Frank – $1.075m

3 Niree Heights, Sandy Bay – Knight Frank – $1.31m

430 Black Hills Rd, Black Hills – Charlotte Peterswald – $1.3m

15a Lord St, Sandy Bay – Harcourts Signature – $1.15m

7 Heathorn Ave, Sandy Bay – Knight Frank – contact agent

9 Nile Ave, Sandy Bay – Knight Frank – contact agent

23 Wandella Ave, Taroona – Knight Frank – contact agent

4/20 Ellerslie Rd, Battery Point – Knight Frank – contact agent

Allens Rivulet, address by request – EIS Property – contact agent

5-7 Pelham St, Sorell – Charlotte Peterswald – contact agent

1/3 Marine Tce, Battery Point – Nest Property – contact agent

56 St Georges Tce, Battery Point – Charlotte Peterswald – contact agent

112 King St, Sandy Bay – St Andrews Estate Agents- contact agent

2 Larooma Rd, Hawley Beach – One Agency – contact agent

16 Goulburn St, Hobart – Harcourts Signature – contact agent

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A “surprise” improvement in Melbourne’s rental vacancy rate is a silver lining for the languishing property market.

Some properties that had been sitting empty during the pandemic were finally filled in June, according to SQM Research data.

Greater Melbourne’s vacancy rate decreased 0.1 per cent between May and June to 3.1 per cent, reducing the number of empty rental properties from 18,499 to 18,116.

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Vacancy rates improved in Melbourne during June.

The small improvement is a far better result than those recorded in April and May, when vacancy rates worsened by 0.9 per cent and 0.4 per cent respectively.

SQM Research director Louis Christopher said there were unexpected improvements in the CBD and Southbank, where vacancy rates recently hit heights not seen for more than 15 years.

They fell from 9.3 per cent to 8.8 per cent in the city, and 16.8 per cent to 16.2 per cent in Southbank.

“We believe the surprise fall in vacancy rates is due to Airbnb property owners giving up on the longer term leasing market and moving back to short-term leasing,” Mr Christopher said.

“The fall in rents over the same period for a number of our capital cities suggests that the weakness in the rental market remains.”

Oliver Mullaney, Riley Mayne and Damien Lee moved into a Hawthorn East apartment during coronavirus. Picture: Rob Leeson.

Collings Real Estate head of property management Caleb Pikoulas said June had been a strong month for rentals, but market concerns were mounting again amid a second lockdown.

“June kind of felt normal again and it was a lot better than this month (July),” Mr Pikoulas said.

“I think it’s because we had already done a lot of the hard work, like making price reductions, and tenants were out looking again.”

158 Station Street, Fairfield has attracted plenty of attention on the rental market.

He said the inner north agency leased out 22 properties in June, which was more than double what they filled in May.

But Melbourne’s second lockdown in July was the start of another market slowdown: “We can’t get as many people through the door now and people are holding off leasing their properties.

“I’ve marked September as when things may return to normal, although that seems like a long way away right now.”

Harcourts Melbourne City director Dionne Wilson said short-stay accommodation had flooded the inner-city rental market in March. A drop in international students had also caused the spike in vacancy rates.

She said June has delivered “very promising numbers” and property managers were chasing “every single lead” to try and fill properties.

“Across the board the city is a little harder hit, while some parts of Melbourne remain relatively unaffected,” Ms Wilson said.

Melbourne’s CBD vacancy rates have been hardest hit during the pandemic. Picture: Michael Dodge

International students and young people have moved out of their city rentals. Picture: iStock

Melbourne’s east, north, southeast, southwest, west and bayside all showed vacancy rate improvements in June, according to the research. The inner east and northwest slightly worsened.

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An Elwood dream home previously owned by Crowded House drummer Paul Hester has hit the market with an impressive new look.

Vendors armed with plenty of renovation experience added an incredible extension to 20 Heaton Avenue, which is being sold privately with a $5-$5.5m price guide.

McGrath St Kilda agent Nicole Prime said the Crowded House and Split Enz musician lived at the California bungalow from 1997 until he died in 2005.

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20 Heaton Avenue, Elwood is for sale after an impressive extension.

A California bungalow facade gives little away about what’s behind.

Crowded House drummer Paul Hester in 1994. Picture: Rebekah Thompson.

The five-bedroom house has since been renovated to be “barely recognisable” from when Hester lived there.

Ms Prime said the property’s name, Kia Ora, reflected a special connection to New Zealand shared by Hester and the current owners, who were both originally from the country.

“This is the vendors’ third renovation and each time they take on a property, it gets better and better,” Ms Prime said.

“The detail they’ve gone into is so impressive, from an incredible butler’s pantry to a hidden wine cellar.”

A sleek kitchen with black marble features.

Character features include an open fireplace.

A wine cellar at the property.

Other features include a huge backyard with covered barbecue zone, a large pool, a sleek black marble kitchen, plus two bedrooms and a study upstairs.

The vendors restored the house’s traditional brick facade and retained interior character details, including open fireplaces and bay windows.

The property is a short stroll from the Paul Hester Walk along the Elwood Canal.

There’s a pool along the side of the extension.

A sleek dining area.

It’s for sale with $5-$5.5 million price hopes.

Hester at his Elwood studio in 2003.

Hester was closely connected to the suburb and ran the Elwood Beach Cafe for several years after leaving Crowded House in 1994.

Former Port Phillip Council mayor Darren Ray has described Hester as being much loved in the community following the musician’s death after a battle with depression.

“There is no denying that many in Elwood loved Paul Hester, and that Paul Hester loved Elwood and especially the canal,” Mr Ray said at a council meeting in 2005.

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