Mona Vale

A record-breaking $4.775 million has been paid off the plan for a Mona Vale penthouse.

The sale has set a new suburb record for the northern beaches suburb. 
 
The 230sqm property, located at 50&ndash;52 Golf Avenue Mona Vale, is in IPM&rsquo;s luxury Iluka development.

It is three bedrooms, three bathrooms with 190 sqm internal space and 40 sqm external.

It is a full-floor residence offering views over Mona Vale Beach and Golf Club on its Q3, 2022 scheduled completion. 
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According to real estate agency Domain Residential, the previous suburb record was $3.2 million.&nbsp;

The record was previously held in Mona Vale by an off-the-plan penthouse at the Ivory development.

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Iluka has been architecturally designed by PBD Architects and with interiors by interiors studio Mim Design.

Iluka will have 14 three bedroom residences amid green landscaping by Black Beetle.

It was first launched to market in February, with just five now remaining for sale by IPM which has been developing boutique residences for the owner occupier market for over 40 years.

The penthouse was sold by Peter Grant from Domain Residential, who said the purchasers were a local couple downsizing from their existing home in Mona Vale.

&ldquo;We are experiencing strong interest from both the existing local buyers who are doubling down on the suburb after selling the family home, as well as a growing contingent of buyers from Sydney and Melbourne who are looking to relocate and enjoy a more relaxed coastal lifestyle,&rdquo; he said.

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The northern beaches suburbs have experienced strong price growth and demand over the past 12 months spurred by a post-COVID lifestyle change and relative scarcity of product.

Mona Vale has been a stand-out performer with the median suburb price increasing to $1,172,500, representing a staggering 23.8 percent price rise in the year to December 2020.

Steven Sroba from IPM said Iluka&rsquo;s location, coupled with the dedication to quality materials and a stellar design team, had proved popular at a time Sydney&rsquo;s northern beaches outperformed many of its inner-city counterparts.

&ldquo;This project really hit the market at exactly the right time, as Sydney&rsquo;s northern beaches have proven an incredibly sound lifestyle and investment choice for a growing number of discerning owner occupiers.

Other suburbs on the northern beaches has seen records too including an apartment in Narrabeen for $3,775,000 and The Boathouse at Avalon, a waterfront with jetty development, for $4,250,000.

The residences remaining for sale, range from 115sqm to 156sqm with terraces up to an additional 186sqm on title.

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The 230 sqm apartment, located at 50–52 Golf Avenue, Mona Vale, was sold off-the-plan in IPM’s luxury Iluka development

jchancellor

Record $4.775 million paid off the plan for IPM's Iluka, Mona Vale penthouse

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Former NSW Premier Barrie ­Unsworth and wife, Pauline have ­quietly sold their Mona Vale townhouse as they downsize locally.
They’ve had the abode for 14 years in the Max Delmege built project, Platinum by the Sea. The four bedroom townhouse cost $1.7m in 2006.
The couple have been the longest owners in the row of five which hasn’t seen a sale since 2011 when two three bedders sold for $1.45m. Domain’s Nik and Karen Vuko secured the recent sale having offered $3m guidance.
Unsworth’s home, with an internal lift, has 430sqm on titles across its four levels.
The top level is the master suite, with walk in wardrobe, ensuite and sitting room. Its balcony offers ocean views.
It was after Neville Wran’s 1986 ­decision to quit politics that Unsworth was elected ALP leader. He just scrapped a win in the Rockdale by-election having moved from the Upper House and his Turramurra homebase. Unsworth’s time as Premier was short-lived as Labor lost the March 1988 election, and he retired from parliament in 1991.
This article was first published in the Sunday Telegraph. 
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firstname1-iYD4UYzvBa

Former NSW Premier Barrie Unsworth downsizes

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A four-bedroom, three-bathroom coastal home with ocean views in Mona Vale sold for $3.35 million through Raine and Horne estate agents Ben Spackman and Sam Bruton on July 2, 2020. 
Designed by Daniel Raymond from Ramaar Architectures, the <a href="https://www.realestate.com.au/sold/property-house-nsw-mona+vale-133774542" target="_blank">38 Elimatta Road property</a> features a North-East facing frontage, ocean view, and leafy views in the secluded outdoor retreat and pool.
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Featuring traditional design elements, the home has a gas fireplace with elegant marble surroundings, American Oak wide timber flooring, high set ceilings, raked ceiling features upstairs, classic Hamptons style timber details on high skirting, and ornate timber architraves and wainscoting throughout. 
The kitchen showcases custom solid timber joinery, Neff Appliances including two built-in ovens with an added steam function, Carrara marble bench tops, and an island breakfast bar.
For entertaining, there is the front deck with an integrated barbecue facilities, and a seamless transition through double bi-fold doors to the kitchen and dining.
There are cool tones to the bathrooms throughout with blends of greys, white and blues, Carrara marble and herringbone tile features. There are also timber cabinetry with Carrara marble bench tops.
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Designer coastal home in Mona Vale sold for $3.35 million

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AMP Capital boss Adam Tindall and wife Julie-Anne are selling their long-time Mona Vale home as they relocate locally.
The couple were lucky to not sell the home in 2013 when they were seeking offers over $2.5 million.
Following the boom, and mild dip, they are now seeking $3.95 million for the home.
They paid $815,000 in 2000 with an extension since then taking the property to six bedrooms.
It sits on 1355 square metres landscaped grounds that feature a 10-metre solar-heated swimming pool.
LJ Hooker Mona Vale agent Kylie Segedin has the listing.
This article was first published in the Saturday Daily Telegraph. 
 
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AMP Capital boss lists Mona Vale home

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Mona Vale has a median house price of $1.7 million, which is fairly consistent with the median house price of the Northern Beaches LGA of $1.75 million as at October 2018, according to a recent Herron Todd White (HTW) residential report. 
The report stated Mona Vale has seen an annual median house price decline of 2.86 per cent while the Northern Beaches LGA has recorded a 4.37 per cent decline (source: RP Data).
Dwellings in this price range will typically be constructed between the 1960s and 1990s, located on the western side of Barrenjoey and Pittwater Road and are reasonably well finished. 
The entry level into the Mona Vale housing market is around the $1.2 million mark, while anything beachside (eastern side of Pittwater and Barrenjoey Road) generally starts at $2 million.
A recent example of a property which sold around the median price is <a href="https://www.realestate.com.au/sold/property-house-nsw-mona+vale-129583226" target="_blank">53 Parkland Road, Mona Vale</a> (pictured above), which sold for $1.81 million in December 2018.
The sale consists of a circa 1980s, renovated, two-storey, five-bedroom, three-bathroom dwelling on 702 square metres of land, on a slightly busy road.
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According to the HTW report, Mona Vale has a median unit price of $937,500, in comparison to the Northern Beaches LGA of $882,000 as at October 2018. Mona Vale has seen an annual decline of 1.32 per cent in comparison to the Northern Beaches LGA which recorded a 3.63 per cent decline (source: RP Data).
"Options at the median price level will typically range from an older (1950s to 1970s) two- bedroom, one-bathroom unit in an east side location to a modern two-bedroom, two-bathroom unit situated in less a desired location.
"The yields are typically higher for new stock and require less maintenance from an investor standpoint, however we have seen greater capital growth in prime beachside locations, as stock levels remain consistent, they are more popular from a buyer standpoint and there is additional scope to create value through renovation works in older buildings," said the HTW valuer. 
<a href="https://www.realestate.com.au/sold/property-unit-nsw-mona+vale-129384654" target="_blank">9/20 Park Street, Mona Vale</a> (pictured above) sold for $800,000 in November 2018 (leasing for $670 per week at 4.36 per cent). The sale is a 2007 constructed, two- bedroom, two-bathroom unit located in the heart of Mona Vale Village.
"The property is larger and more modern compared to other Mona Vale units in this price range, although these benefits are at the expense of a slightly less desired location," said the valuer. 
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Mona Vale prices more stable than overall Northern Beaches: HTW residential

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The Bendigo Bank building in Albury has been sold to a Sydney investor for $2.9 million.
The three-level property was sought by 10 bidders.
It sold for $600,000 over the reserve, reflecting a yield of 4.8%.
Other recent bank sales saw the Commonwealth Bank building in Shepparton sell for $3.6 million and Gympie’s Bank of Queensland property fetch $825,000.
The Mona Vale ANZ premises (pictured above) sold after its recent auction for $5.7 million on a 4.57% yield. 
There had been significant interest on the property with 84 enquiries and 15 contracts issued by Burgess Rawson.
A local Sydney Northern Beaches private investor was its buyer. 
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Commercial property investors banking on bank tenancies

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Long time Manly Sea Eagle hooker Matt Ballin, who recently retired from rugby league, secured the weekend sale of his Mona Vale home.
It had a $1.8 million to $1.9 million price guide - and after one bid was knocked down at $1.9 million.
The 33 year old hooker spent the last two years at the West Tigers however had to retire in June due to a series of knee injuries.
The contemporary coastal style home cost Ballin $930,000 in 2010 when he was at the Sea Eagles, a year before he won he second Premiership with the Manly club.
Set on 610 sqm, the two-level family entertainer has 
Three of the four bedrooms are flanked with an upstairs terrace.
The kitchen leads to a rear alfresco timber deck with built in barbecue and wet bar. It overlooks the private backyard complete with custom-built cubby house.
Cunninghams Property agents James Haywood and Mary Bryant have set a September 2 auction.
Ballin, hailing from Queensland, spent eight years at the Sea Eagles where he won the Premiership in 2008 and 2011.
He played an incredible 182 consecutive games for Manly over his 217 game career.
He was restricted to just three appearances during the two years he spent at the Tigers after a season ending ACL injury in 2016.
This article first appeared in the Sunday Telegraph.
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Former Manly Sea Eagle Matt Ballin sells in Mona Vale

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Garth Mathews, the founder and joint chief of Secure Parking, Australia’s largest car parking company has listed his Mona Vale house.
It comes with $4.5 million to $5 million hopes after a substantial renovation by Marchese Partners.
Garth and wife Leni paid $2.03 million for the home in 2005 and have undertaken major renovations over the last six years.
Featuring an Australian Asian infused design, the home boasts large verandahs provide that provide natural indoor/outdoor living.
They open toward the north facing hidden garden that features BBQ entertaining, poolside decks and lawn area.
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Kitchen is state-of-the-art with European appliances and custom joinery as well as being positioned in the centre of the house.
The private wing features the master bedroom suite featuring views of the oceans, walk in dressing room and bathroom.
Bungan and Mona Vale Basin beaches are a short stroll away. The property is listed through LJ Hooker agent Josephine Cowling.
Mathews said the couple do alot of traveling and wanted to capture the Asian influence.
They are moving as they are travelling a lot more and want to be closer to the city and the airport.
Mathews founded Secure Parking in 1979. It now has 2000 car parking stations in 14 countries around the world, employing 15,000 people.
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