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8/95 Darling Point Road, Darling Point has views of the city skyline, harbour, Opera House and Bridge.

The Darling Point penthouse of the late real estate guru Samuel Punin — which has iconic harbour views — sold at auction last night for $7.25m.

Punin, who passed away recently in his 90s, ran SP Hilton agency in Bondi Road, Bondi, up until a few decades ago and is understood to have an estate worth a considerable amount thanks to his sales and rent-roll successes.

And his whole-floor apartment in the popular Torrington block at 8/95 Darling Point Road was a fine piece of real estate that sold midway between its $7m to $7.5m guide through 1st City agents Julian Hasemer and Brad Caldwell-Eyles, in conjunction with Paul Ephron of Ballard Property.

Punin had bought the three-bedroom, three-bathroom apartment with triple garage for $1,415,000 in 1992.

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It had cost $1,415,000 in 1992.

They’d had two registered parties.

With auctioneer Damien Cooley presiding at his Double Bay auction rooms, bidding opened with a $7.5m vendor bid.

Then buyer’s agent Simon Cohen countered with $7m.

Both parties split the difference, doing a deal on the floor.

And everyone seemed happy with the result. “Torrington is highly sought after — designed by the highly regarded architect and Mirvac founder, Henry Pollack, and built by Mirvac in their heyday in 1986,” Hasemer said.

“It’s solid and the apartments offer good floorplans with good amenities including sauna, spa and pool with beautiful gardens.

What a view!

“And the penthouse had a three-car garage with storage.”

Cohen, too, said his clients — an eastern suburbs couple — were rapt. “This is a standout penthouse apartment with iconic views,” he said.

Ist City have sold several other apartments in the block of eight and a townhouse.

These have included for the $2,615,000 sale property developer Michael Teplitsky’s two’bedder last September to entrepreneur and K2 Energy chairman Sam Gazal.

He’d sold his Bellevue Hill mansion for more than $6.5m last June.

And back in 2012, former model Margo Hogan and her husband, NY cosmetic surgeon Michael, had sold unit 4 for $3m to Thomas and Colleen Dagworthy.

OTHER RESULTS

23 Little Comber Street, Paddington, sold for $1,275,000 at last night’s auction.

Cooley had six auctions for his rooms last night, with five of them selling.

“The owner occupier market — which really relates to the house market — is strong,” Cooley said.

The other four sales were 23 Little Comber Street, Paddington, which went for $1,275,000 via Kim Jones and Rick Daniel of Snowden Jones; 77/177 Macleay Street, Potts Point sold for $735,000 via Capital Corporate Property’s Steven Rudman; 9/23 Greenoaks Avenue, Darling Point sold for $1.45m via Georgia Cleary and Alexandra Churchill of Bradfield Cleary, and 71 Holdsworth Street, Woollahra sold prior for an undisclosed sum above $4 million. The passed-in property was 2/7 Banksia Road, Bellevue Hill.

Cooley says the weekends either side of the October 3 long weekend will be huge for auctions.

GEORGIA’S BIG WEEK

4 Roslyndale Ave, Woollahra, sold for about $7.8m

Last night’s auctions capped off a big week of sales for Cleary. She’s sold seven properties in the past eight days, including 4 Roslyndale Avenue, Woollahra which sold for an undisclosed amount, believed to be about $7.8m.

The four-bedroom, four-bathroom home with double garage on a 660sqm block is right next door to the huge colonial Georgian residence Hawthornden on a 6,521 sqm block. No. 4 had passed in at its June 2 online auction

Her other sales were a deceased estate at 40 William Street, Double Bay, which sold for $2.9m — $500k above reserve; 9 Cascade Street, Paddington for $2,005k (10 per cent above reserve); 67 Holdsworth Street Woollahra for more than $4m off-market and 4 Harris Street, Paddington, sold within its price guide of $2.5m-$3m.

A $7.3M SALE

95 Moncur Street, Woollahra, sold for $1.1m more than its price guide.

Architect John Grove’s cutting-edge property at 95 Moncur Street, Woollahra has sold for $1.1m above its guide.

The Agency’s Ben Collier had been quoting $6.2m price guide ahead of a scheduled September 26 auction but it’s sold for $7.3m more than two weeks beforehand.

There’s no doubt this was a special residence. The four-bedroom, two-bathroom home with double garage had been widely applauded, winning the Woollahra Conservation Award in 2008 and the Australian Timber Design Award in 2009.

It also received a Residential Architecture Commendation in 2011.

Grove had purchased the 247sqm site for $2.32m in 2005. It’s in the heart of the Woollahra and Paddington Heritage Conservation zone, but the existing house was deemed of little heritage value so he was able to build “Woollahra House 11” in its place.

MARK HUGHES SELLS

1/40 Smith St, Surry Hills, sold for $105k above its price guide.

The Spice Traders warehouse apartment of one of Australia’s most respected art consultants, Mark Hughes, has sold for $1,305,000.

The 90 sqm two-bedroom apartment with garage parking at 1/40 Smith Street had been listed with BresicWhitney’s Shannan Whitney with a $1.2m guide ahead of an August 29 auction and it sold on the day.

Hughes spent more than a decade in New York including nine years as the Director of Galerie Lelong, established Mark Hughes Art Advisory in 2011 and works with individual collectors and corporate clients.

He’d bought the apartment for $800,000 in 2013.

The post Darling Point penthouse of the late real estate guru Samuel Punin sells for $7.25m at auction appeared first on realestate.com.au.

No. 77 Empire Circuit in Forrest is up for sale.

Once home to Commonwealth Auditor General James Brophy, this elegant home is a snapshot of local history.

Built around 1925, the charming four-bedroom, two-bathroom residence in Forrest is set on more than 1400sqm and boasts a formal lounge room with a marble fireplace dating back to circa 1830 and brass wall brackets imported from France.

Similarly, the formal dining room has a stunning original antique brass light, which has been converted from gas.

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Vintage luxury inside.

But also full of modern luxuries.

While the residence has retained hallmarks of its era, including timber doors and an original telephone, and is furnished with period furniture, the current owners have also modernised parts of the property.

Selling agent Nigel Wilson, from Hayman Partners, Curtin, said the residence at 77 Empire Circuit had served as a home to Mr Brophy, who managed the household accounts of the Lodge for former Prime Minister Ben Chifley, worked as Treasury’s first assistant secretary, was deputy coroner for a brief period as well as an official at the 1960 Olympic Games after his move to Canberra in 1908.

Plenty of period fixtures.

Street appeal.

“This really is an opportunity to buy your own piece of local history. The home is heritage listed so any improvements must retain the facade and the character of the home,” Mr Wilson said.

Outside, the driveway provides dual access from Empire Circuit and Melbourne Avenue, while the professionally landscaped traditional-style gardens feature a stunning mix of roses, camellias, rhododendrons, azaleas, cedillas and hydrangeas.

The property has been listed for sale for $2.499 million.

The post Heritage home in Forrest a rare slice of Commonwealth history appeared first on realestate.com.au.

The Real Estate Institute of Victoria has backflipped on its hard-line stance that members should refuse to negotiate rent reductions with tenants, after being slammed by industry bodies and social advocacy groups.

The direction to halt all rent reduction negotiations, forcing renters to “make their own inquiries with Consumer Affairs Victoria (CAV)”, was retracted by REIV president Leah Calnan in a video sent to members via a private Facebook group today, seen by the Herald Sun.

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The REIV has backflipped on its stance on rent reduction negotiations. Picture: iStock

“We’re not saying to any member or any landlord don’t do any rent reductions,” Ms Calnan told REIV members.

“If you’ve got a tenant that presents all the information and they are showing all the details that are necessary to confirm they are in financial hardship, the landlord’s agreeable, the tenant’s agreeable, (then) do the deal. We’re not saying don’t do those.

“What we are saying is in examples where a tenant is just not providing information … push those through to Consumer Affairs.”

REIV President Leah Calnan has clarified the body’s advice.

In a letter to members on Sunday, REIV chief executive Gil King urged “every property manager to discuss with their landlord clients the option of refusing to negotiate any rent relief”.

“Many rent reduction agreements are coming up for renewal,” Mr King said.

“We understand that many will not want to do this but I am hopeful enough of you can decide not to negotiate in good faith and push the onus back onto the government.”

He referred to the action as a “rent moratorium strike” designed to “to logjam the halls of CAV, DSCV (Dispute Settlement Centre of Victoria) and VCAT (Victorian Civil and Administrative Tribunal) even further”.

Many renters are facing coronavirus-related hardship. Picture: Jason Edwards

Ms Calnan told the Herald Sun the update was not a backflip, but a clarification after a “misunderstanding within the industry”.

She said the action still remained “a strategy, not a policy” to lobby the Andrews Government into further consultation with the real estate industry following last week’s road map announcement, which extended a ban on physical inspections of Melbourne homes until at least October 26.

Ms Calnan also slammed the Victorian Council of Social Services, after the body’s chief executive Emma King labelled the body’s advice as “misguided, callous and dangerous”.

“Callous is when a landlord hasn’t received rental income since April, or is about to go into bankruptcy because their tenant hasn’t paid the rent,” Ms Calnan said.

“The forgotten people here are the landlords, who have not been receiving rental income from tenants who are blatantly not paying rent.”

Ms King welcomed the REIV’s update today.

VCOSS chief executive Emma King welcomed the update.

“It’s great agents and landlords with a moral compass have pushed back against the REIV and forced them to retract,” Ms King said.

Tenants Victoria chief executive Jennifer Beveridge said it was important REIV members continued engaging in “constructive talks about rent reductions”.

“There’s no doubt renters are facing hardship, they are over-represented in shut down sectors like retail, hospitality, tourism and the arts,” Ms Beveridge said.

“Struggling renters need rental protection in good faith – fair-go negotiations for rent reductions are critical to getting practical outcomes at a time when all of us are being told to stay at home for the sake of our health.”

Renters were over-represented in shutdown sectors of the economy, Ms Beveridge said. Source: iStock

She also noted landlords were being supported by the state government through land tax concessions and up to $3000 in rent relief grants.

Real Estate Industry Partners chief executive Sadhana Smiles also welcomed the update from the state’s peak real estate body.

The national industry group, which includes major agencies Ray White, Harcourts and Belle Property, previously advised members to ignore REIV advice and continue working with landlords and tenants to achieve fair rent reduction agreements.

“It’s great the REIV have changed their hard stance on this and joined the REIP in a collaborative approach, to lobby government while representing landlords and tenants who are in housing distress,” Ms Smiles said.

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It’s official. COVID-19 restrictions have pushed Australia into recession – unemployment is rising, people are spending less, businesses are firing instead of hiring and economic output is falling. 

Despite this, and contrary to many early predictions, house prices are not plummeting. In fact, in every capital city except Darwin, prices are now higher than they were a year ago.

Why is this the case and what could turn it around? There are six key reasons why house prices aren’t plummeting, yet.

1. Banks are being supportive

Well-capitalised banks with the ability to offer six-month mortgage payment freezes have been a key factor in supporting struggling home owners through the pandemic and preventing price declines. The loan holiday period expires this month meaning those people who are able to start repaying their loans will be expected to do so, although those who still can’t pay their mortgage will be given an extension. 

Right now, we are seeing very few mortgagee sales on realestate.com.au, with just two distressed sales out of more than 160,000 listings available in Australia, mainly due to loan repayment freezes. But if banks stop supporting virus-hit home owners, mortgagee sales would likely increase dramatically causing house prices to tumble.

Why would banks withdraw support? For now, their focus is on managing risk, but if the current problems with productivity morph into a financial crisis, the banks would likely have no means to support mortgage holders. This would be very bad news for the economy and tumbling house prices would only be part of the fallout.

2. Unemployment is hitting renters

Unemployment is rising and the most recent data from the Australian Bureau of Statistics has it sitting at 7.5%, Australia’s highest unemployment rate since 1988. At this stage, younger people have been hardest hit with job losses, primarily those employed in travel, hospitality and education. If previous recessions are anything to go by, this trend will continue. Youth unemployment hit 20% in the last recession and it has already reached 16.4%.

The rapid rise in unemployment among younger people has hit the rental market very quickly. Rental listings – also aided by a rise in short-term holiday listings becoming long-term residential listings – increased dramatically on realestate.com.au in the months after the health crisis, causing rental prices to drop. While the increase has eased significantly, it is leading to problems in some suburbs.

The rental market has felt the effects of the coronavirus pandemic. Picture: Getty.

3. Risk is highly concentrated

Rental listings are no longer rising in the same way they were early in the pandemic, but there are problems in 10 suburbs, which now account for half of all increases in rental listings since the first round of lockdowns. These suburbs are highly exposed to renters and most are close to universities.

For investors in these suburbs, many are struggling to find tenants or are experiencing a significant drop in rental return. With price growth minimal and concerns about future growth, it appears many are looking to sell out. The biggest increases in apartments for sale are now in high-development areas, many of which are also seeing big increases in rental listings.

4. Parts of the economy are doing well

Despite the recession, not every part of the economy is struggling. For example, the mining sector is giving Western Australia and Queensland a big boost, while strong employment in federal government services is a boon for Canberra.

As a result, Perth is seeing strong buyer demand on realestate.com.au and Queenslanders are the most confident buyers and sellers in Australia. Meanwhile, Canberra house price growth has not stopped for a single month since mid-March.

5. Employed people aren’t spending as much

For now, the majority of well-paid, white-collar professionals have escaped job losses, but the recession is making them nervous and households are currently saving nearly 20% of their disposable income, compared to 6% in the first quarter of 2020.

While people are saving more, safer conditions among well-paid job types is also good news for premium property markets. We are yet to see tough house price conditions emerging in Australia’s most expensive suburbs, with many of them continuing to see price growth through the pandemic.

House prices in Australia’s premium suburbs have remained strong during the pandemic. Picture: realestate.com.au/buy

6. Stimulus is helping

Record levels of government stimulus, such as JobKeeper, are helping keep house prices steady. While this is generally helping the unemployment rate and the stability of our banks, policies targeting home buyers such as the 5% home loan deposit scheme, state government first-home buyer incentives and the recent HomeBuilder grants are ensuring a steady flow of demand into housing.

What’s the biggest risk?

The biggest threat to house prices right now is potential withdrawal of support to home owners from the banks. Other factors that could derail the economy could include the inability for the economy to bounce back quickly, continued unemployment rises extending to more established workers and a sharp withdrawal of financial support from government.

For now, prices are far more stable than expected but the future is very uncertain.

The post Six key reasons why house prices aren’t plummeting despite the recession appeared first on realestate.com.au.

This Southern Highlands hotel was once a bank. Picture: Jonathan Ng

This is one bank you won’t need to rob to get inside the vault.

A rare Southern Highlands property used as a commercial bank for close to 80 years has hit the market after being converted into a residence and hotel.

The building on Main Rd in Mittagong has retained all the hallmarks of its former life as a bank – including the old vault and customer counter.

There is also a circa 170-year-old one tonne steel vault door but rather than keeping money safe it currently controls access to the hotel’s wine collection.

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The rare wine cellar converted from the old vault could also be used for other purposes.

The property is currently listed for sale with expectations of about $4.9m.

It’s a fair shot above the £2840 pounds the property was built for in 1892.

The property includes the old stables, which have been turned into accommodation.

The historic features have made the building a good fit as a hotel.

The building was understood to have been used a bank until the 1970s and fell into disrepair after. It was reportedly filled with pigeons by the time it transacted for $1m in 2008.

It was later converted into an inhabitable structure through a seven-year restoration project.

An entrance of cedar doors open to where the business counter used to be.

Stables and a convict-built coach house behind the bank were also repurposed and are currently used as accommodation.

The building was used as bank from 1892 through to the 1970s.

The house is listed with Richardson and Wrench-Southern Highlands agents Andrew Blaxland and Ian Cameron.

The agents revealed the former bank could have many potential uses such as a residence to work from home, a multi generational family Highlands getaway or a destination restaurant.

Other potential uses could be as an exclusive club, corporate headquarters, gallery, function centre or strata subdivision.

Victorian-era detailing is evident throughout.

The bank is listed with a $4.9m guide.

Details from the listing revealed: “the Old Bank is being offered well below replacement cost and is an incredible value opportunity”.

The property has over 500sqm of living space. The bathrooms have granite and marble tiles that were hand cut on site. There is also underfloor heating beneath the timber floors.

The post Historic bank with 170-year-old vault door up for sale after stunning conversion appeared first on realestate.com.au.

Victoria Samba is selling a rental in Coogee.

Thoroughbred racing enthu­siast Victoria Samba is selling in Coogee.

It’s been a rental since Samba relocated to Melbourne.

It was most recently offered as a $1850 a week last year, but is being offered with vacant possession through Jason Pantzer at Phillips Pantzer Donnelley for its September 26 auction.

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Victoria Samba. Picture: Alex Coppel.

The home cost $2.91m in 2017.

Samba had paid $2.91 million in 2017 for the Dolphin St home when briefly moving from the Randwick home, she and then husband, recruitment firm boss Mitch Hoare, sold for $3,575,000.

The Coogee home, on 220sqm, spans two levels ­designed to take advantage of its northerly aspect.

The four-bedroom home is modern and luxurious.

Thoroughly modern, the home has four bedrooms, a custom-fitted study and an open-plan kitchen, living and dining area that spills on to a rear garden with built-in barbecue.

Samba, the daughter of the late Melbourne racing identity Les Samba, moved to the Mornington Peninsula late last year to live with her horse-veterinarian partner.

The post Thoroughbred racing enthu­siast Victoria Samba is selling in Coogee appeared first on realestate.com.au.

The Cheltenham home at 24 Herbert Street exudes character inside and out. Pic: realestate.com.au

It’s the kind of property that passers-by would describe as a character home, but the full extent of its quirky charm can’t be completely appreciated until stepping inside.

Vibrant pink and purple floral wallpaper offers a splash of colour from the moment you swing the Cheltenham villa’s front door open – and that’s just the beginning.

It’s one of several bright and extravagant wallpapers featured throughout the four-bedroom home at 24 Herbert Street, which has hit the market for the first time in 51 years.

The wallpaper certainly is colourful! Pic: realestate.com.au

It offers a bright welcome to the home every time you step inside. Pic: realestate.com.au

A variety of loud wallpapers are featured throughout the home. Pic: realestate.com.au

Ray White Port Adelaide principal Nick Psarros, who is selling the property with Nathaniel Kennerdale, said the unique interior was a reflection of the family who had owned it since 1969 and preserved ever since.

“They love the colour because it’s an expression of who they are,” he said.

“It’s quite retro.”

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Leadlight windows, soaring ceilings and ornate fireplaces are some of the other features that add to the home’s old-world charm.

The 1910s-built property is on a 747sqm block with a tandem carport that could fit four vehicles.

A central hallway – which is emblazoned with the bright floral pattern – is flanked on either side by three bedrooms and a lounge, and leads to a kitchen at the back of the house.

The home has four bedrooms and one bathroom. Pic: realestate.com.au

It has been owned by the same family for more than 50 years. Pic: realestate.com.au

It’s on the market for the first time since 1969. Pic: realestate.com.au

A dining room, study, bathroom and fourth bedroom are also located at the rear of the house.

Outside, a veranda overlooks a manicured lawn and garden with a separate laundry and shed on opposite sides of the yard.

Mr Psarros said the home offered the perfect blank canvas for househunters looking for a renovation project.

“You don’t get many like that,” he said.

“I’m getting lots of inquiries – it’s the originality of the house and the potential (for buyers) to put their stamp on it.”

The home is on the market with a price guide of $580,000 to $610,000, with best offers accepted until September 29.

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A buyer has splashed close to $5m on a Port Melbourne landmark without setting foot inside.

The dream home at 1 Beaconsfield Parade sold after just 31 days on the market, during a campaign held entirely during stage four lockdown restrictions.

Kay & Burton Port Phillip agent Melissa Grinter said the waterfront wonder sold for an undisclosed price, “towards the top end” of the $4.5-$4.95m price guide.

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1 Beaconsfield Parade, Port Melbourne sold sight unseen.

The elegant property sold for close to $5m.

“It was a virtual sale to a local family who were familiar with the property, so we basically did videos of all the internals and talked them through all the way,” Ms Grinter said.

“They were happy to buy it because they didn’t want to miss out … it’s going to become their family home.”

The family had seen the Victorian charmer from the road, but had not stepped inside before putting down an offer.

Views across the bay don’t get any better.

The old-world home was bought by a local family.

Ms Grinter said there was “enormous inquiry” from buyers, who had always known the landmark listing from its incredible facade. Most were waiting for the private inspections ban to be eased so they could walk through the property before making an offer.

“Who knows what result we could have had if we waited, but the vendor was happy with the offer that was presented to him and accepted,” Ms Grinter said.

“And now that restrictions have been extended again I think it was a very good move.”

The main living room inside the home.

An elaborate bedroom is like a step back in time.

The five-bedroom property was sold by Circa Property developer Michael Stokie, who restored the Victorian heritage facade and added a second residence inside the building about 20 years ago.

Mr Stokie said the property was a “dump” before the complete transformation, where he added old-world wallpaper, marbled columns, chandeliers and gold leaf finishes to the traditional section of the home.

“Everything in the place is brand new, from the floorboards, plastering, skirtings and mantelpieces,” Mr Stokie said.

“It didn’t take long to do that work, but it took nearly 12 months to paint the wallpaper and to do all the gold leaf.

The modern self-contained residence

The flexible floorplan attracted plenty of interested parties.

“I used to live in both parts of the house, then I lived in just the modern section for a while, but when I got sick of that I lived in the Victorian part.”

The second self-contained residence, which has its own kitchen, dining and living space, offers a far more contemporary look.

Mr Stokie said he had enjoyed being able to shift between two eras inside the one building, but it was now time to downsize.

Ms Grinter said the flexible floorplan had attracted many buyers to the home.

Other highlights include an elegant main living room, timber kitchen with Miele appliances, a lift to all four floors of the home, a backyard spa, and panoramic views of the bay from a glass-enclosed veranda.

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The development and design team behind Wooloowin’s first masterplanned community: Jeff Brown, Farzana Gujarati and Peter Starr (front). Picture: Richard Walker

Brisbane’s newest masterplanned inner city community will go ahead at the site of a historic convent after nuns agreed to hand it over to developers.

One of the founding fathers of architecture in Brisbane will have his work incorporated into the new masterplanned community – the first of its kind in the inner northern suburb of Wooloowin.

Greville is a 3.6 hectare, 280-home development that has been five years in the planning after a negotiated sale between Cedar Woods Properties and the Catholic Sisters of Mercy, who have owned the elevated site, 5km north of Brisbane CBD, since the 1880s.

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The Holy Cross Convent in Wooloowin is also part of the masterplanned community. It was designed by Hall and Dods architects in 1912. Picture: Richard Walker

At its heart is a heritage-listed laundry that was designed by the most prolific government architect in Queensland, Francis Drummond Greville Stanley, who also designed the General Post Office (GPO) and was the first president of the Queensland Institute of Architects in 1888.

The General Post Office (GPO) in Brisbane.

The Holy Cross Laundry House at Wooloowin. Picture: Richard Walker

The community has been named in his honour and three of the apartment buildings will be named Francis, Drummond and Stanley.

“Back in the day, these industrial buildings were made with care, crafted by architects,” RotheLowman Architects principal Jeff Brown said.

“They were seen as important parts of the infrastructure of the city and were therefore given the care and the love to become impressive works of architecture, which I have always loved. They are so well thought out and tell the story of the city in a way.”

RotheLowman Architects has designed the new masterplanned community of 84 terrace homes and 189 apartments and will convert the laundry into seven residential apartments on the edge of a 4000 sqm community park within the development.

The RotheLowman designed terrace homes planned for Greville Wooloowin.

The residential reuse of what was one of the largest commercial laundries in Brisbane will lead to the original building being turned into generous living areas with 4m-high ceilings. A modern two-storey addition will be added behind, which will house the garage, laundry and upstairs bedrooms.

Between the two buildings will be a bridge to allow for private courtyards between the old and the new sections.

Green space and the pool area planned for Greville Wooloowin.

“We’re making sure we’re not taking away the storytelling or the narrative of the site,” Mr Brown said. “The modern additions pay homage to the scale of those buildings, we haven’t tried to break it up into little houses.”

An original convent that is next to the Holy Cross Catholic Primary School facing Morris Street, will be adapted for community use.

Cedar Creek Properties senior development manager Peter Starr said the $180 million community would keep the ‘garden’ feel that Wooloowin is known for and will be sympathetic to the Queenslander style of surrounding homes, but the new homes would be grounded in a contemporary design.

View of Brisbane city from Morris Street in front of Greville, Wooloowin. Picture: Richard Walker

“All our terrace homes have an optimal north-south orientation, meaning they are designed to enjoy abundant natural light and breezes, with our first release in an elevated enclave, meaning some also enjoy city skyline views,” Mr Starr said.

City glimpses from Greville Wooloowin.

“We have created four different floor plans so there is a design to suit people at all stages of life – whether they are downsizers looking to have their master bedroom and living on one level, or younger purchasers wanting their bedrooms separated.”

The Greville courtyards will include lots of green space.

There are generous landscaped courtyards, and open-plan living that integrates with either a courtyard or balcony, creating light-filled indoor-outdoor living and entertaining.

Civil construction will begin this season and the first 12 town homes will begin construction in autumn or winter of 2021. The development is expected to take five years to complete.

FDG Stanley’s Brisbane legacy

1872: General Post Office, 261 Queen Street

General Post Office (GPO) in Brisbane.

1873: Roma Street railway station

Roma Street Railway Station. Picture courtesy of George Washington Wilson Collection of Photographs, Aberdeen University Library.

1876: Holy Trinity Church, 141 Brookes St, Fortitude Valley

1879: The Port Office, 39 Edward Street

The Port Office, Brisbane.

Early 1880s: All Hallows’ St Ann’s Industrial School

1881: National Australia Bank, 308 Queen Street

National Australia Bank (NAB) headquarters. Picture Derek Moore

1882: The Queensland Club, 19 George Street

1887: St Paul’s Presbyterian Church, 43 St Paul’s Terrace, Spring Hill

1889: Tighnabruaich villa, 203 Clarence Road, Indooroopilly

Tighnabruaich at Indooroopilly.

1889: Sisters of Mercy Holy Cross Laundry House, Morris Street, Wooloowin

The Holy Cross Laundry House at Wooloowin. Picture: Richard Walker

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Boatshed 4a Ford Parade, Lindisfarne.

THE moment Dean Lampkin spotted a dingy boatshed for sale at Lindisfarne, his wheels started turning.

This is not the type of property opportunity that comes along every day.

And, on top of the waterside location, the boatshed is also set in one of Hobart’s most desired suburbs.

In short: it ticked a lot of boxes.

Dean said it was basic but he could see its potential, so he quickly snapped up the little green shed and got to work planning an extensive renovation.

While not a boatie himself, Dean — owner of LamCon Construction and Commonwealth Games judo silver medallist — threw himself into the waterside lifestyle spending about six months in between jobs and at weekends tinkering with his project.

He said it had been great fun with the shed becoming an ideal spot to unwind.

“Once it was finished, it certainly crossed my mind that perhaps I should keep it rather than putting it back on the market,” Dean said.

The Ford Pde boatshed last year…

A whole new look this year.

A stunning transformation.

The cute blue weatherboard boatshed dates back to the ’30s. It is one only of a small handful of sheds located between the suburb’s sailing and motor yacht clubs.

The 14.4sq m shed at Lindisfarne Bay features a new kitchenette, timber flooring, indoor-outdoor living and storage space, plus a floating pontoon and finger jetty.

The new jetty has taken the place of a former timber ramp into the water. The striking improvement will likely be the first thing potential buyers notice if they inspected it last year.

Dean said the property should appeal to people who own a small boat.

“They could berth it there, and enjoy the boatshed lifestyle, too,” he said.

She was a modest shed.

Bayside bliss.

A brilliant location.

On the back of the renovation work, Petrusma Property consultant Evan Riseley said the property’s appeal had broadened considerably.

When it hit the market last year the shed was perfect for storing a boat but that was the extent of it. Now Evan believes it is a place where people will also enjoy spending some time relaxing or entertaining.

“Twelve months ago it was the lesser of the Ford Parade boatsheds, but now it is the most fancy of the bunch, he said.

“Dean has clearly dedicated substantial time and money to the renovation — it really shows.

“There is little doubt that he has added a ton of value.

“It is an amazing, charming property that has been finished to a high standard.

“It is also the most unique property I have taken to market.

“I can’t think of another where there was this level of genuine uncertainty about the price that it will fetch when the campaign is all said and done.”

The sale will include the remainder of the property’s current 25-year Crown license agreement, contact the agent for details.

The property hit the market last Friday night and in only a couple of days it had generated thousands of views on realestate.com.au.

Boatshed 4a Ford Pde, Lindisfarne will be open for inspection on Saturday from 10am to 10.30am. It will be sold by expressions of interest closing September 28.

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