Eric Balog, CEO of luxury-oriented Leverage Global Partners, says the high-end market has thrived in recent months, but that the pandemic will have a “lasting impact” on consumer preference.
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An artist’s impression of the view from a penthouse terrace at Kalypso, Tamarama.
A block of bespoke luxury residences set to hit the market in Tamarama is tipped to be popular as buyers love affair with a beachside lifestyle gathers pace during COVID-19.
Kalypso will be a block of just nine — comprising one bedders, two-bedders, sub-penthouses and a penthouse — is a development by Dare Property’s Danny Avidan to be built at 63 Fletcher Street.
Large windows and balconies soak in the spectacular views of the stunning coastline, from Bondi in the northeast to Tamarama and Bronte in the south.
Selling agent Ben Stewart of CBRE says: “It’s going to be pretty popular … we’ve got very strong interest already.
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An artist’s impression of Kalypso, which is to be built at 63 Fletcher Street, Tamarama.
“There’s a real appetite for that beachside lifestyle, particularly with a lot of people working from home now.”
Avidan, once the businessman behind fashion brands Charlie Brown, Howard Showers and Hollywood Fashion Tape, has since earnt his stripes as a highly successful property developer and already built the Wave development in Fletcher Street.
This latest project, Kalypso, brings together architects MHNDU, who have created the illusion of the three-level block being carved into the sloping street, mirroring stunning cliffs nearby.
The three-bedroom residences all have fireplaces.
Interiors are by MIM Design. There are curved walls and elegant Bianco Lana marble benchtops, designed to be in synch with waves close-by.
And as afternoon blends to evening in front of the keyboard as residents of the three-bedroom homes gaze out to their ocean view, they need go no further than their copper-framed wine cellar for a well-earned drink.
They’ll also have fireplaces.
There are integrated Wolf and Sub-Zero appliances throughout.
Copper-framed wine cellars and magnificent views.
And get set for freestanding bathtubs with double vanities in the bathrooms.
The penthouse master bedroom will feature a balcony with breathtaking ocean views.
Prices are yet to be finalised, but insiders suggest the four two-bedders, with interiors of 80 to 85 sqm plus 12 to 15sqm balconies, will be priced in the high $2m range.
The three penthouse-style apartments, with more than 200sqm of internal space, will have double-digit price expectations.
The standard three-bedroom apartment will be in the $5m range.
Beautiful kitchens.
And the three one-bedders, which will also have Sub-Zero and Wolf appliances — will be in the late $1m range.
All of the apartments will come with garaging, and the three-bedroom apartments will offer two car spaces.
Lords, the builders, will start demolition on the site in December with completion not due until mid 2022.
Stewart says there continues to be strong demand for the owner-occupier properties.
Bespoke finishes.
“We’re finding prestige properties and units that are rare are still selling very well,” he said.
“Empty-nesters and downsizers are saying give me something special to enjoy my life in,
“People are definitely spending more on their principal place of residence.
“There are minimal sales in investment stock, but owner-occupier sales are very strong.”
There’s been much discussion of inner-city apartments taking time to sell, but Stewart says they are seeing good resales of quality luxury apartments.
He said there’d been a sale last week of $13.5m at the Opera Residences, the 102 unit development at Circular Quay, which equated to $87,000 per sq metre.
“There’s been an uplift in price on resale of up to 25 per cent,” Stewart said.
“During COVID, there’s definitely been a flight to quality.”
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The right technique can be the difference between securing a property and missing out. Picture: Tim Hunter.
An auction is the most heart pounding experience a buyer will face on the path to owning what might be their first or twentieth home.
The high stakes event can often feel like a poker game or an emotional rollercoaster for some. This can make it easy to get swept up in the mayhem — by paying more for a property than planned, or missing out due to a bad technique.
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While a property’s features and the local property market have the most significant impact on how much a buyer will pay, having the right bidding strategy might just ensure you walk way with the keys, Cooley Auctions auctioneer Michael Garofolo said.
Making the opening bid can allow you to control the auction and possibly eliminate some competition. Picture: James Gourley/The Sunday Telegraph.
“Don’t be afraid make the first bid, as this allows you to take control of the auction and it shows the bidders you mean business,” he said.
Making the opening bid means the buyer can set the tone for the rest of the auction, Mr Garofolo said, adding that by starting strong, it could also scare off other buyers from bidding.
He said it was not about where a bidder starts with their opening bid, but where it finished.
“Be cheeky and offer less than the guided price, as nine times out 10, the auctioneer will always counter and might meet you halfway,” he said.
“Just remember to not put your best and final figure first as you want to leave some fuel in the tank.”
The auctioneer said buyers should never wait for the property to be called to market before bidding, as it increased the risk of overpaying.
“It means any bids from here are at market value or above,” he said.
Mr Garofolo said bidders should instead be proactive beforehand to give themselves the best opportunity to be at the front of the pack for any negotiations that come up.
Making small bidding increments of $1000 at the end of the auction could also see a buyer miss out, Mr Garofolo said, adding it allowed others to remain in the picture.
“I’ve seen many buyers miss out by $500 because they didn’t attempt to land a knockout bid,” he said.
Michael Garofolo (pictured centre) said bidders who increase their bids in increments as low as $500 towards the end of the auction run the risk of missing out. Picture: Sam Ruttyn.
At the same time, buyers’ agent Rich Harvey of Propertybuyer said people should also not throw a knockout $200,000 bid in an attempt to wipe out the competition.
“It doesn’t always work, and you could be left paying far more than what the home was actually going to sell for,” he said.
Wearing sunglasses or the body language you let off could also impact your prospects of winning an auction Mr Harvey said.
Keen bidders should stand where the auctioneer can clearly see them. Picture: David Swift.
“Some buyers like to wear sunglasses like a poker play would to hide their intentions or what they are thinking,” he said.
The buyers’ agent said it did not matter where a person opted to stand during the auction, as long as the auctioneer can see them.
Before even placing a bid, Mr Harvey said it was important to research the local market to see what the competition is like and how much homes are selling for to allow you to create the best auction strategy.
“This allows you and your bidding partner to work out what is the maximum amount you will bid and will not go past,” he said.
Buyers agent Rich Harvey said it was important to write down your maximum bid and never go past it as you run of the risk of regretting it.
“Never do flexible figures as you will end up regretting it after the auction when you have to go past your budget.”
Mr Harvey also advised buyers to write down your bids and ensure the auctioneer hears your correct bid.
“The early $1 millions can get quite confusing, and an auctioneer might hear a higher bid than you want,” he said.
Despite Australia being in the middle of its first recession since 1991, the number of scheduled auctions is expected to ramp up over the coming months with the arrival of the popular spring selling season.
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Nardoo cattle station sold for $35m under the hammer via Ray White Rural QLD.
An enormous Queensland cattle station has sold for $35m via online auction – the biggest price fetched under the hammer by one of the country’s leading agencies this year.
Eleven bidders registered to bid on the 97,500ha Nardoo cattle station, with the first bid coming in at a whopping $20m.
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Nardoo cattle station was the biggest under the hammer price fetched across Ray White so far this year.
Ray White Rural Queensland principal Bruce Douglas facilitated the sale which was “the highest under the hammer price across Ray White this year”, a company statement said.
“Interest came almost exclusively from larger grazier families around Queensland,” Mr Douglas said. “It’s good cattle country and very tightly held, properties don’t come up very often in the area so buyers jumped on it.”
Stunning scenery across the station.
He said the property saw strong interest all the way through the sales campaign.
The massive cattle station sold to a local Cloncurry grazier family.
Outgoing owners Peter and Ann Wollett offered the property up for auction along it is cattle and plant machinery.
The station has a carrying capacity of 8000 cattle and is located 280km north west of Cloncurry.
The classic homestead at Nardoo station.
Among other big cattle station sales in Queensland this year according to BeefCentral was Dooruna 100 west of Moranbah which sold for $27m to Goondiwindi family the Duddys.
As well, Terrica, 56km north west of Stanthorpe, sold in August to Grimwade & Gordon for $14m, it said, while Whyenbirra, 132km south west of St George sold for $4.3m to Robert Woodward in late August.
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