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Woodlea Estate by VIP and Mirvac is among those to sign up for a new Neighbourhood Watch program aimed at stopping crime starting in new estates.

A dozen Victorian housing estates have signed up for a Neighbourhood Watch program specifically designed for new communities.

With a focus on shielding residents from today’s more prevalent crimes, including number-plate theft and door-to-door scammers, its backers also hope it may help speed the recovery from COVID-19.

Neighbourhood Watch chief executive Bambi Gordon said the Building Community Together initiative had already achieved positive outcomes after a year working with developers to build relationships in new streets and bolster perceptions of safety and security at new estates.

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“The research shows that if we know the people around us, we feel safe,” Ms Gordon said.

“And a lot of people have moved from another country and are buying their forever home.

“So the program can also help to break down barriers to police, which is helpful for people who have come from countries where police aren’t the friendly, wonderful people they are here.”

Homes without tall fences or landscaping to block vision to the street can deter criminals.

Ms Gordon said with more people working from home, COVID-19 had given many new communities a chance to spot scammers going door to door and alert others in the area.

“I’m also hoping we will see some street-based business networks starting up as well, from people working from home or those who have become unemployed,” she said.

A key part of the program is promoting visual connections with the neighbourhood, and encouraging residents to consider this when building fences and landscaping front gardens.

“We think that big fences and pulling our blinds down protects us, but that encourages those who see it as an opportunity to quickly and quietly break into a home,” Ms Gordon said.

“The criminals can also see if the area looks well cared for, or has a lot of lines of site from homes.”

Lotus Living’s Jubilee estate in Wyndham Vale has also signed up for the program.

Mirvac and Victorian Investments and Properties’ 711ha masterplanned Woodlea community at Aintree was among the first to sign on for the program.

Sales manager Lora Armstrong said they had partnered with Neighbourhood Watch to help build a sense of community among the development’s existing 5000 residents.

“And with the onset of COVID-19, community engagement and improvement is even more important,” Ms Armstrong said.

“When you move to a new suburb you don’t have that established community … so it can feel lonely.”

She added that things like parks — the estate now has nine — were also vital for building personal connections between residents while kids and dogs played in them.

Other participating estates in Melbourne’s west include Jubilee in Wyndham Vale, Elements in Truganina, Atherstone in Strathtulloh, and Harpley in Werribee.

The Olivine estate by Mirvac in Donnybrook also has Neighbourhood Watch programs running with residents.

To the north, the Aurora community in Wollert and Olivine and Kinbrook estates in Donnybrook are involved; to the southeast, Berwick’s Alira community and Officer’s Arcadia estate.

The Point in Point Lonsdale on the Bellarine Peninsula is also part of the program.

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The post Neighbourhood Watch fights crime in Melbourne’s new estates appeared first on realestate.com.au.

Stockland North Shore project director Andrew Astorquia.

A NEW and growing Townsville suburb is allowing first home buyers to get a purchase in the market.

Stockland’s North Shore housing community is experiencing a boom in buyers making the most of the State Government’s $15,000 First Home Owner Grant and the $25,000 HomeBuilder grant with the $5000 regional boost.

Justin Bonner, 25, is one of many buyers purchasing land to build in the family-orientated suburb.

Justin Bonner made the most of the First Home Buyers Grant, plus the Home Builders Incentive and bought a block at North Shore. Picture: Alix Sweeney

The first homebuyer was drawn to North Shore for its access to shops, and the chance to stay close to family. “I have previously been living in North Shore with my sister who built with AP Williams,” Mr Bonner said.

He plans on using the same builder to construct his new home the street over from his sister.

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“It’s a four bedroom place with a theatre, so technically a five bedroom,” he said.

“It was way too good to pass up (the grants). It’s just nice to have your own place.”

Stockland project director Andrew Astorquia said the grants put first home buyers in Townsville in a purchasing position like never before.

“Stockland’s North Shore is ideal for first home buyers looking to break into the property market, with an abundance of services and amenities available,” he said.

“Close to schools, shopping, dining, parks, bushland trails and transport networks, North Shore is a 13km drive to Townsville’s CBD, has easy access to the northern beaches and boasts nine kilometres of walking and cycling trails.

Stockland North Shore project director Andrew Astorquia.

“We’ve found that most first home buyers are looking for a four-bed home with two bathrooms, a double garage and a spacious backyard.”

Treasurer and Infrastructure Minister Cameron Dick said the Regional Home Building Boost and first homeowner grants were part of a suite of construction programs designed to help stimulate the Queensland economy.

“As part of this $267 million construction package, the $100 million Works for Tradies program will further stimulate housing construction, supporting up to 240 jobs and delivering much-needed social housing on the Gold Coast, Sunshine Coast, Cairns, Townsville, Mackay, Rockhampton, Gladstone, Wide Bay, Moreton Bay, Toowoomba and Ipswich,” he said.

The post First home buyers snap up land at North Shore in $45k grant grab appeared first on realestate.com.au.

2209/25 Anderson Street, Kangaroo Point, is up for rent at $425 a week.

Landlords who stuck it out through Queensland’s latest period of rental oversupply are set to win after vacancy rates tighten across the state, sparking rent rises.

Figures released by the Real Estate Institute of Queensland (REIQ) show that the majority of the state is sitting on tight vacancy rates, with regional cities experiencing the first rent rises in years.

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REIQ head Antonia Mercorella said Queensland had a very high rental population at present (about 35 per cent), exacerbated by COVID-19.

As interstate migration grows post the pandemic, Ms Mercorella said she expected rental demand to rise further.

Regional areas are experiencing rent rises for the first time in years. Four-bedroom 18 Macquarie Street, Jensen, is for rent for $800 a week through Explore Property.

“When you think about how Queensland has fared and how much more affordable it is over Sydney and Melbourne, I think we are going to see more people, particularly from southern states, move here. There’s greater affordability, terrific liveability, demand will rise in the post COVID world.”

She said the tighter vacancy rates demonstrated the cyclical nature of the market.

“It was not that long ago that I was talking about very weak vacancy rates and weak demand and yet here we are, not long after, looking at a different picture.”

She said it was pleasing for landlords who have had to drop their rental asking prices in the past few years.

“It’s nice to see that those landlords are perhaps being rewarded. When you are in an area where vacancy rates are tight, it does mean competitive, limited supply and therefore higher rents and the chances of negotiating rent reductions are reduced.

“Most of Queensland is classified as tight now,” she said. “It definitely is more advantageous for the owner.”

Among the patterns that have emerged through COVID-19 is an increase in fly-in fly-out workers staying in regional cities to maintain jobs, and families moving to be closer together.

Ms Mercorella said there was a need for greater rental supply.

“So many renters do rely on private owners, and mum and dad investors to provide rental accommodation for them. It demonstrates a need to meet rental demand.”

One area where tenants have maintained the upper hand is in Brisbane’s inner ring, within 5km of the CBD, where the vacancy rate is comparatively weak at 3.9 per cent.

In those areas rents could get cheaper, according to Ms Mercorella, giving tenants the opportunity to lock-in good rates longer term.

“Certainly in those areas there is more availability,” she said. This is down to a higher level of apartments in those locations but also the fact that a lot of stock that was originally short-term holiday rentals have come into the long-term market.

“Because of COVID-19 and the inability of people to travel, some owners have decided to transfer from short-term lets to the long-term market. Then there are properties vacant because of students going back home to live with mum and dad and universities going online.”

Residential vacancy rates:

LGA Mar-20 Jun-20

Greater Brisbane 2.0% 2.0%

Brisbane LGA 2.1% 3.2%

Inner (0-5km) 2.7% 3.9%

Middle (5-20km) 1.8% 2.4%

Outer Brisbane² 1.8% 1.7%

Ipswich 2.0% 1.9%

Logan 2.0% 2.2%

Moreton Bay 1.7% 1.4%

Caboolture 0.8% 1.2%

Pine Rivers 2.0% 1.7%

Redcliffe 2.0% 1.6%

Redland 1.5% 1.3%

Mainland 0.9% 1.7%

Bay Islands 4.3% 1.2%

Gold Coast 3.0% 3.0%

Sunshine Coast SD 1.8% 2.0%

Sunshine Coast^ 1.4% 1.9%

Caloundra Coast 1.0% 1.4%

Maroochy Coast 1.4% 2.1%

Hinterland^ 1.5% 2.1%

Noosa^ 3.6% 2.4%

Fraser Coast 3.1% 1.2%

Hervey Bay 4.3% 1.6%

Maryborough 1.2% 0.4%

Cairns 3.5% 2.4%

Source: REIQ

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1/14 Bayside Drive, Lauderdale. Picture: SUPPLIED

FOR the urban professional seeking a relaxed lifestyle, minimal upkeep and easy beach access – this Lauderdale townhouse could be perfect.

Positioned on the hillside at Bayside Drive, this home blends easily with the desirable neighbouring homes in this often envied corner of the suburb.

The elevation allows the property to drink in breathtaking views across the bay and over to Mount Wellington as well.

It has a commanding presence coupled with a peaceful location; it is a property that will be a treat for your senses.

Modern marvel.

Quite the vista.

Doing the dishes won’t be a chore.

Throughout the three-bedroom home there are quality fixtures and fittings coupled with a timeless elegance. The tones are modern and neutral, which will give the new owner the chance to put their own interior design stamp on it and transform the property from townhouse to townhome.

The floorplan stretches comfortably across two levels.

The top floor is home to an open living area that would be an entertainer’s dream come true.

Expect clean lines, eye-catching flooring, unobstructed water views and quality Smeg appliances.

Located off the dining room is an elevated outdoor entertaining area – 3.8m x 7m – with glass balustrades and views over Roches Beach and out towards Ralphs Bay.

The living zone is also home to an impressive kitchen with big views, double sinks, sleek tapware and an island bench that would make a comfortable breakfast bar if desired. There is a ton of bench and cupboard space, plus views to the rear of the property via a window where most homes often position a splashback – beautiful.

A lovely bonus in this area is the study nook.

Ideal for summer.

Pull up a chair.

The master bedroom is located towards the front of the home with wonderful views out across Roches Beach. The master has a substantial walk-in robe and exquisite ensuite.

Downstairs, vehicle accommodation will never be a problem with the property offering a carport and a single attached garage with internal access.

The home’s lower level includes a formal entrance that leads into a hallway that guides the homeowner toward the two bedrooms, both with built-in wardrobes.

The master bathroom is on this level and it is striking with its luxurious tub, tiles and a shower with a rain showerhead.

Stylish sophistication.

Goodnight.

The laundry and another toilet are on this level also.

Per realestate.com.au, Lauderdale’s median house price has been steady in the past year and is up by almost 40 per cent compared to three years ago.

No.1/14 Bayside Drive in Lauderdale is priced at $750,000 and listed with Exceed Property.

The post Does townhouse living get better than this? appeared first on realestate.com.au.

Age was more than just a number at three extraordinary Sydney auctions this weekend, while stage four lockdowns continued to keep most Melbourne bidding on hold.

A rise in scheduled sales in the Harbour City saw some “standout results” coming in well above reserve, including a four-bedroom Cronulla home that sold for $2.21m – $210,000 above expectations.

Latest realestate.com.au auction data shows New South Wales has a clearance rate of 80% for the week to date, while Victoria’s preliminary clearance rate currently stands at 70%.

Here’s what happened in the auction capitals this weekend.

A historic Woollahra home was well presented but considered a “fixer upper” because of the scope for improvement.

Sydney

COVID-19 uncertainty failed to deter bidders from putting in multimillion-dollar offers for a historic Woollahra house, on Saturday, owned by former Colorbond chief John Lysaght, aged 91.

The character-filled home on Harkness St with harbour views sold under the hammer for $5.71m after attracting 11 registered bidders.

Mr Lysaght had lived at the home more than 30 years and was downsizing to Rose Bay. He reportedly watched the auction from his car to ensure social distancing, away from the crowd.

The Juno Parade property has five one-bedroom homes on it.

In Sydney’s south-west, an eight-year-old boy stunned bidders and onlookers at an auction this weekend by joining in – and eventually securing the winning bid.

He bought a cluster of five one-bedroom studios in Greenacre for $970,000, beating out competition from six other registered bidders.

The boy was unable to directly buy the property because of his age, but his property developer father purchased the investment properties for him.

On the other end of the spectrum, a 100-year-old St George resident got a generous birthday present with the bumper sale of her home of 80 years.

The Bexley house today, which sold for $1.17m.

Beryl Mackie had been living at Shaw St, Bexley since she got married in 1942 and only moved out a few months ago.

Her late husband paid about 1000 pounds for the three-bedroom house in 1938 and it sold under the hammer yesterday for $1.17 million.

For more Sydney auction coverage, read here.

Melbourne

While the ban on inspections in stage four lockdown has dramatically reduced the number of Melbourne auctions, some proactive sellers forged ahead and reaped rewards online on Saturday.

The dated home at 12 Stott St, Preston, has structural issues.

Several homes in the northern suburbs smashed their reserves in a quiet Saturday of auction action, including a rundown house in Preston that sold $190,000 above expectations.

The three-bedroom house at 12 Stott Street sold for $950,000, despite needing structural attention.

Stockdale & Leggo Reservoir agent Aldo Verga said a lot of the buyers were looking to demolition and rebuild, which removed the roadblock of being unable to inspect the property during lockdown.

Nearby in Coburg, an impressive renovation at 63 Bruce Street achieved a premium sale price of $1.815 million for vendors Lillian and Daniel Skinner, soaring $115,000 above reserve.

63 Bruce Street, Coburg. Picture: realestate.com.au

The pair had “literally three days to get everybody that was interested through the house” before stage four rules were enforced, Ms Skinner said.

At a press conference this morning, Victorian Premier Daniel Andrews said he understood the “frustration” surrounding lockdown restrictions on real estate businesses and transactions, but would not consider reclassifying it as an essential service.

“The chief health officer has made it pretty clear that we’ve got to drive down movement – and I know it’s very, very difficult and it’s frustrating,” Mr Andrews said.

“I get a lot of people come to me with very well argued cases, and it’s not just businesses who are concerned about their profits, they’re businesses who are concerned about their people. I absolutely get that.

“But we’ve got to fix this. Any benefit that might be there for a few weeks, well that will be washed away if this doesn’t work.”

Read here for more Melbourne auction coverage.

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Cliff diving’s not so scary when you know what’s at the bottom. Supplied

Cliff diving is one of those pastimes that can easily prompt participants to soil their pants.

Hurling oneself off a cliff into water far below is terrifying, and has some parallels with the financial fears many Australians face right now. Cliffs and diving are two words that have been popping up frequently this year, often around real estate.

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We’ve been told that Australia’s economy is heading for a financial cliff when government subsidies get cut back from September. Home loan repayment holidays were also set to stop in September but banks have extended them to March for customers still suffering a cash crunch.

We’ve also been told that property prices could dive by 30 per cent, although these were among worst-case scenarios among forecasters who also said a 10 per cent fall was more likely. The recent second wave of coronavirus that’s crashed mainly on Victoria has given more ammunition to those with a negative view, but it’s pointless to panic too much about property prices right now.

National Personal Finance Writer Anthony Keane.

The latest CoreLogic data shows Adelaide home values have increased since COVID-19 intensified in late March and are up 0.7 per cent since then. And they’re up 2.4 per cent over the past 12 months.

CoreLogic says Adelaide traditionally performs well during economic shocks, helped its proportion of investor-owned housing of 28.9 per cent by being below the national average of 34.5 per cent. We could still see a price fall in the coming months, particularly if the COVID situation worsens in Victoria and New South Wales or even – gulp – here, but the scary dives forecast by some appear far-fetched.

The Federal Government is doing everything it can to prevent a financial cliff, throwing hundreds of billions of bucks at the economy through wage subsidies, business assistance and a pile of other handouts.

Its recent extension of JobKeeper and JobSeeker beyond September – albeit at reduced levels – shows it is trying to gradually wean the population off payments rather than use one big swing of a financial axe.

And while Aussies will have a huge national debt to pay off for generations, we’re doing much better than most countries debt-wise, and interest rates as low as 0.25 per cent for government borrowing mean those repayments are affordable. If COVID gets worse, you can expect it to shower more money on us – whatever it takes.

Even if we do suffer a sharp property price fall, cliffs are only dangerous if you jump or fall off them. So be brave, stick to your long-term strategy and wait for home values to eventually recover.

I once jumped off a cliff into Africa’s Zambezi River and survived. My wife did the jump too, but she belly-flopped, broke a couple of ribs and was in pain for a fortnight (don’t tell her I shared this).

Short-term property pain for all of us may be on the horizon, but it will heal in time as Australia remains one of the best countries in the world to live and invest in.

The post Don’t fear the financial cliff appeared first on realestate.com.au.

1 Beaconsfield Parade, Port Melbourne makes a statement.

Two homes in one are on offer at this Port Melbourne landmark offering the best of old and new-world living.

Most of the waterfront wonder at 1 Beaconsfield Parade was restored to reflect its Victorian heritage by its vendor, Circa Property developer Michael Stokie, who has $4.5-$4.95m price hopes.

He also created a second self-contained residence with its own kitchen, dining and living space, which offers a far more contemporary look.

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Transport back in time with Victorian heritage style.

An enclosed balcony with panoramic bay views.

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.”

A traditional study is in the traditional section.

Wallpapering took 12 months during the restoration.

He said he had enjoyed being able to shift between two eras inside the one building during the past 20 years, but it was now time to downsize.

“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,” Mr Stokie said.

Kay & Burton Bayside agent Melissa Grinter said the five-bedroom, three-bathroom home was an instantly recognisable landmark for residents in the area.

The more modern abode found inside.

Choose what era you live in.

“There’s not many Victorians along there … inquiry has already been massive from people ringing up saying they’ve always known the house,” Mr Grinter said.

“You could live in the Victorian and close off the door to the separate residence and rent it out, which is another appeal.”

The traditional formal lounge room is a highlight.

An elegant main living room, timber kitchen with Miele appliances, a lift to all four floors of the home and a spa at the rear were highlights of the property, she said.

Panoramic views of the bay from a glass-enclosed veranda were also hard to beat.

Expressions of interest close on August 31.

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Auctioneer Andrew Cooley at the sale of a Cronulla property for more than $200,000 over reserve.

About two thirds of the Sydney properties that went to auction last week sold successfully and many vendors got prices above their reserves despite the tense economic conditions.

Research group CoreLogic reported a weekly clearance rate of 67.8 per cent based on 549 declared results. There were a total 668 auctions.

The median price of houses sold under the hammer was about $1.4m, while the median price for units sold at auction was just shy of $890,000.

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Among the standout results at auction was for a four-bedroom house in Cronulla, offered for the first time in 50 years.

The property sold at auction on Saturday for $2.21m, $210,000 over reserve. The house on Grosvenor Cr is set on an unusually large block for the area at 841sqm and attracted a mix of developers, upsizers and people looking for a knockdown-rebuild or duplex project.

A Lukes Ln property in Baulkham Hills sold for $95,000 over reserve. Picture: Benson Auctions

Auctioneer Andrew Cooley received an opening bid of $1.9m and bids were placed by three of the six registered parties.

In Oatley, a five-bedroom house on 506sqm sold under the hammer for $1.6m, $50,000 over reserve.

Six bidders registered for the auction of the Mi Mi St home and three submitted ­offers, including an opening bid of $1.3m.

Ray White-St George agent Matt O’Shea and Haydon ­Sacilotto had the listing.

49 Mi Mi St, Oatley sold on Saturday.

Mr O’Shea said more than 65 groups came through the opens. “The highest offer we received prior to the auction was $72,000 less than the under the hammer sale price so that goes to show the value of taking your property to auction.”

In the northwest, the sellers of a 930sqm property in Baulkham Hills achieved a price $95,000 over their reserve after attracting a dozen bidders to their auction yesterday.

The price for the home on Lukes Lane was $1.315m, with the home sold through Guardian Realty agent Sam Dalgliesh.

15 Lukes Lane, Baulkham Hills sold for just over $1.3m.

Auctioneer Stu Benson received 15 bids. “Our opening bidders, a young couple visibly expecting the arrival of a new addition to their family, outlasted all bidders to ­secure the home, and you could tell they had the crowd on their side. It was a real feel good’ result,” Mr Benson said.

In the inner west, a family sold their Marrickville house of 13 years at auction for $1.395m.

Peter Warrington and Rachel Williams had snapped up the three-bedroom house on Scouller St for close to $500,000 back in 2007 and listed the home with a guide of $1.25m.

Six bidders registered for the auction with selling agents Adrian Tsavalas and William Pereira of Adrian William.

Rachel Williams and Pete Warrington, with kids Rosa and Frankie, sold their Marrickville home for higher than expected. Picture: Sam Ruttyn

Ms Tsavalas said the price was above expectation. “Most of the registered bidders were young couples and families and the buyers were a couple upsizing from a unit,” he said.

The opening bid was $1.1m and three of the bidders put in offers. “It was very slow to get started,” Mr Tsavalas said.

“There were close to 40 bids, the bidders were playing a bit of a poker game, they needed social proof before they made offers.”

In nearby St Peters, a four-bedroom house on Grove St sold under the hammer for $1.65m, $50,000 over reserve.

The sellers received an offer of $1.5m prior to the auction but turned it down. There were nine registered bidders and five made offers.

Selling agent Ercan Ersan of Ray White-Erskineville said more than 80 groups inspected the property in the lead up to the auction. “This was a cracking auction,” Mr Ersan said. “It really felt like the good old days with both buyer and vendor confidence flowing.”

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Don’t judge a book by its cover — and don’t judge a home by its facade. But what if the house itself resembles nothing more than a facade?

In the Chicago suburb of Deerfield, an unusual-looking skinny home has been on the market, and online house hunters have been baffled by its design.

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A bizarre ‘skinny house’ near Chicago has baffled house hunters. Picture: Realtor

The house does widen up as you move through it. Picture: Realtor

The unique home has just sold last week for a bargain US$260,000 (AU $363,700) down slightly from its $269,900 list price.

Standing just 90 cm wide at one end, it has come to be known as the ‘Pie House’ for its wedge-like shape. But it isn’t just the striking listing images that caught onlookers’ attention, but also a TikTok video showing its exterior that went viral, amassing more than 1.1 million views.

The bedrooms are notably wider. Picture: Realtor

While the other is less so…. Picture: Realtor

The listing boasts that the iconic home is larger than it appears, with almost 150 sqm of living space — which also includes a finished basement.

Listing agent Alan Berlow told The Post that three bathrooms are located inside the home’s most narrow end. And though it’s less than one metre in width, looks can be deceiving.

“Behind one of the bathrooms is a little storage area,” he said.

Not as skinny as you’d think. Picture: Realtor

The home has extra storage outside. Picture: Realtor

The home, built in 2003, gradually widens to just over six metres.

“The room sizes are actually fairly normal,” Berlow said of the two bedrooms.

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“The master has a 5.5m width, while the second one is 5m wide, and a staircase anchors the widest end of the home.”

The home has hardwood floors throughout, and the listing boasts of good natural light in most rooms and ‘lots of character’.

Outside the home has been professionally landscaped, and has an outdoor shed.

The median sale price for homes in the area is estimated to be around US$595,000.

A unique home. Picture: Realtor

Parts of this story appeared in the NY Post and were republished with permission.

The post Bizarre ‘skinny house’ near Chicago stuns with bargain sale price appeared first on realestate.com.au.

107 Fitzroy Street, St Kilda was built by Sir John Monash in 1920.

An opulent St Kilda multiplex built by renowned military commander and civil engineer Sir John Monash has hit the market with an eight-figure price tag.

The 107 Fitzroy Street building features a lavish four-storey penthouse, a pair of two-bedroom apartments and a ground-floor retail space, across four separate titles.

It’s on the market with a $10.5-$11.5m price guide.

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Monash, whom Monash University is named after, is known as Australia’s greatest soldier.

The four-year renovation of the multiplex was completed about two years ago.

Monash designed and engineered the building in 1920 for theThomas family, who ran a tailoring business and lived at the property for 60 years.

Described as Australia’s greatest soldier, Monash also worked on the construction of the Princes Bridge and Shrine of Remembrance.

Monash University was established in his name by an act of Parliament in 1958. Monash died in 1931 and was farewelled at a state funeral with 250,000 mourners.

There’s a shopfront on the ground floor.

A four-level penthouse crowns the building.

It’s on the market with a $10.5-$11.5m price guide.

The property’s shopfront would be suitable as a gallery, bar, restaurant, florist or boutique store, Kay & Burton partner Andrew Sahhar said.

The apartments feature oak flooring, custom joinery, calacatta marble bathrooms and marble-topped kitchens with European appliances and integrated refrigerators.

Crowning the building is a four-level, three-bedroom penthouse with a garage, lift, wine cellar, infinity pool and rooftop deck.

The four areas last changed hands for a combined $7.5m two years ago, following a four-year renovation that more than doubled the property’s value, according to CoreLogic records.

There’s an infinity pool.

Plus a rooftop deck. Check out those views!

Mr Sahhar said it had been a worthwhile investment for the owners, who lived in the penthouse and were selling for a sea change.

The vendors got “amazing returns” leasing the retail space to The Block Shop last year, and letting the whole building out during major events like the Australian Open and Grand Prix, he said.

“The current people who are interested are looking at it as a family compound where the parents will live upstairs, older children will have an apartment each and then lease out downstairs for income,” Mr Sahhar said.

“Other people are looking at living in the penthouse and leasing out the apartments and downstairs.”

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