Sale

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The Double Bay apartment block Monterey sold at Monday auction for $6,8 million. There are seven apartments in the 1920s complex at 256 New South Head Road, up the hill from the village.

It was marketed by NG Farah agent Joe Recep as "a rare entire apartment block offering."

Buyers were advised there was scope to "add further value" with the potential to sell the apartments separately.

The building was already a strata block with the units sold off separately in the early 1990s. The apartments were mostly three bedroom, two bathroom with high ceilings and bay windows.

The most recently available apartment was at a $550 a week asking rental, down on its peak $750 a week rate sought in 2015. It was up for rent at $350 a week. in 2005.

The period building came with a wide timber staircase.

The bidding at Cooley Auctions opened at $6 million. There were just the two bidders competing.

The vendor had accumulated all seven apartments between 2001 and 2008 at a $2.5 million cost.

Monterey is diagonally opposite the 2018-completed Golden Age complex, Essence which is a striking strata complex at 315-321 New South Head Road.

[smartcode_project:default project_id=6002]

Golden Age secured off the plan sales in 2016. A recent resale was $2.75 million last March for an apartment sold off the plan in 2016 at $2.66 million.

Essence has 38 residences in two buildings.
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A Double Bay block of seven apartments was sold at auction for $6.8 million

jchancellor

$6.8 million paid for Double Bay block of apartments

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A raw development site in Sydney’s inner south-west has sold in Belmore.

The 685sqm site, which presents a residential development opportunity, was purchased by local residential developer Amira Property Investment.

Comprising a vacant residential dwelling, the site will be able to provide three to four townhouses or residential apartments under its current R4 high-density residential zoning.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/33_lucerne_street_belmore.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/33_lucerne_street_belmore.jpg?itok=YGax1tA9" width="580"></a>

Formerly owned by the Leigh family of Belmore, the site included a large rear garden and off-street parking for two to three cars.

Savills Australia’s Ollie Ridley and Nick Lower negotiated the deal who said the opportunity was highly sought after by residential developers looking to convert the site into a new townhouse or duplex development.

Capitalising on the growth of Belmore, many developments are rising up in the inner south-west suburb surrounded by residential housing.

Amira Property aims to develop the site into duplex homes.

<h2>Other new residential developments in Sydney’s inner south-west</h2>

Located less than 30 minutes by train to Central, Belmore is becoming an attractive location for developers and homebuyers alike due to its tight-knit community and the incoming Belmore metro station.

Other new developments in Belmore include Cornerstone and Aura, which are catering to the suburb’s substantial population growth.

Delivered by ALAND, <a href="https://www.urban.com.au/new-apartments/cornerstone-717-727-canterbury-road-belmore?last_source_news_article_id=82254&amp;ref=news_related_project">Cornerstone</a> is a five-level residential development on Canterbury Road in Belmore, offering 141 one, two, and three-bedroom residences.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cornerstone-717-727-canterbury-road-belmore-878ef8fc74989d642ed6f7290a0038f3.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/cornerstone-717-727-canterbury-road-belmore-878ef8fc74989d642ed6f7290a0038f3.jpg?itok=ObyotR6t" width="580"></a>

Apartments in the complex include recessed balconies, high ceilings and open-plan kitchens, as well as amenities such as ground-floor retail spaces and parkland.

Down the road in Canterbury, <a href="https://www.urban.com.au/buildings/aura-396-398-canterbury-road-canterbury?last_source_news_article_id=82254&amp;ref=news_related_project">AURA</a> is offering one-bedroom apartments from just $588,000. The homes include contemporary design, entertainers’ balconies and large courtyards.

Designed by Glyde Architects, AURA includes open district and city skyline views, designer stone kitchens and wood texture cabinetry throughout.

A security storage cage is available for all residents, making the home a smart decision for owner-occupiers and downsizers.
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The site will be able to provide three to four townhouses or residential apartments under its current R4 high-density residential zoning

max.kwok_55688

Raw development site sells in Sydney's inner south-west

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Yuhu Group Australia has announced its settlement on a commercial property in North Sydney for $59 million.
The 15-storey block at <a href="https://www.realcommercial.com.au/property-offices-nsw-north+sydney-500854103" target="_blank">20 Berry Street</a>, close to the Greenwood Plaza Shopping Centre and the North Sydney train station, occupies three prominent street frontages.
The freehold building of 9723.3 sqm sits on 1391 sqm of land, and with several recent upgrades, boasts an impressive foyer with a newly refurbished café/restaurant, excellent natural light, expansive harbour and district views from the upper levels, and has parking for 110 vehicles.
The complex is currently 100% leased with major global infrastructure consultants SMEC occupying 49% of net lettable area (NLA) until 2023.
Other tenants include financial, IT and childcare services.
Knight Frank noted the leased net income is $4.4 million per annum with an estimated weighted average lease expiry (WALE) by income of 5.42 years.
“Because of its highly convenient and desirable location, ready access to outstanding transport, recreational and education facilities as well as it vibrant commercial and residential sectors, we see this North Sydney purchase as a sound investment in securing long-term growth,” said Yuhu Group founder and chairman Xiangmo Huang.
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j.ballantyne1990-6AQqhLzZaK

Yuhu Group confirms settlement of $59m building in North Sydney‏

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The weekend 10 Gruyere Crescent, Ivanhoe East offering of a Robin Boyd-designed 1950s home fetched $1,745,000 through Jellis Craig Price.
They had been suggesting a $1.5 million plus expectation for <a href="https://www.realestate.com.au/property-house-vic-ivanhoe+east-120309157" target="_blank">the three-bedroom house</a> which was commissioned by the seller’s grandfather.
There were four bidders who appreciated the Boyd-factor. 
It was marketed as one of the very first homes in the area. 
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jchancellor-FAypfDUnLy

Robin Boyd Ivanhoe East sale

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The first land release in The Gables Box Hill is slated for Saturday August 22, with 170 lots released over two days through priority number and auction.
Lot sizes from 450sqm to 600sqm will be released, with prices starting from $540,000. Some lots are elevated and have views overlooking the entire project.
The Gables Box Hill development director, Matthew Scard, said over 13,000 people eventually move into The Gables.
Eventually 4,000 dwellings will be built on the 3330 hectare holding. The development includes a proposed lake, a 5.5 hectare town centre, active and passive open spaces, a school, new roads and associated infrastructure.
Developers of The Gables, Celestino, are also managing work on The Sydney Science Park following the NSW Government's Gateway Determination for the its development. It will be a 280ha development and upon completion is expected to employ over 12,000 staff, 10,000 students in key scientific and technological and provide more than 3000 homes. 
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For more information on The Gables <a href="https://www.thegablesboxhill.com.au" target="_blank">click here</a>. 
 
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mick.cee-iDmgDDAmu8

The Gables development set to release 170 lots 

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A Port Douglas trophy holiday home has been sold for around $2 million.
The  four bedroom, five bathroom four level property, <a href="https://www.domain.com.au/for-sale/57-murphy-street-port-douglas-qld-4877-2011364465" target="_blank">57 Murphy Street Port Douglas</a>, is built on Flagstaff Hill and has views to the Coral Sea and nearby mountains. 
Designed by local Gary Hunt, the home features an open plan living area with four metre high raked timber ceilings, gourmet eat-in kitchen, wrap around terraces on all levels, an indoor/outdoor plunge pool and a separate self-contained studio.  
The master bedroom suite with an adjoining study has dual bathrooms with a centre piece Japanese Ofuro bath.
Lyn Hall and her late husband, Mike Hall, ex-President Coca Cola Japan built the home in 1996.
It was listed for sale through David Cotton, Raine &amp; Horne Port Douglas, and marketed by Lynn Malone.
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Port Douglas hilltop trophy home sold for $2 million

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The former Conde Nast managing director and founder of Vogue Magazine, Bernard Leser and wife Barbara have secured the sale of their Palm Beach retreat.
It fetched $3.15 million through Raine &amp; Horne agent David Eden.
The property on <a href="https://www.domain.com.au/sold/75-pacific-road-palm-beach-nsw-2108-2011919272" target="_blank">75 Pacific Road</a> was bought back in 1994 by the Elizabeth Bay couple for $1.1 million from the then retired diplomat Sir Robert Cotton. 
Conde Nast headhunted Leser, now 90, in 1958 to launch the Australian edition of Vogue. During his tenure with the publishing company Leser was appointed managing director of Conde Nast UK, president of Conde Nast USA and chairman and managing director of Conde Nast Asia Pacific.
This article was first published in The Saturday Daily Telegraph.
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Vogue veteran Bernard Leser sells Palm Beach retreat

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Nick Maxwell, the former Collingwood premiership captain, and his wife Erin sold their 1930s Spotswood home at $1,143,000 at weekend auction, as they seek schools for their two young children.
The pretty extended weatherboard at 12 Stephenson Street was renovated by Maxwell, with involvement from his brother and father, who are builders.
The property cost $280,000 in 2004.
Set on 512 square metres, the three bedroom <a href="https://www.realestateview.com.au/Real-Estate/12-stephenson-street-spotswood/Property-Details-buy-residential-9199328" target="_blank">12 Stephenson Street, Spotswood</a>, came marketed with $900,000 plus hopes through Sweeney Estate Agents agent Wayne Sweeney and a $990,000 reserve.
After his 2014 retirement from league footy, Maxwell joined NRL team Melbourne Storm as a leadership development coach. 
Erin Maxwell is best known for her Melbourne style Love Shop Share blogging.
CoreLogic RP Data put <a href="https://www.urban.com.au/property-observer" target="_blank">the suburb's house median at around $668,000</a>. 
APM reported Melbourne's overall weekend result was the third consecutive Saturday increase in the clearance rate.
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Nick Maxwell sells weatherboard in Spotswood

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Perth was the most difficult market to sell in July with an average time on market of 112 days, as well as the average discount at 7.2%. 
APM's July Monthly Days on Market report saw the average time to sell in Sydney was 42 days, with Melbourne at 79.
<a href="/images/2015/08/07/APM_complete.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/07/APM_complete.jpg" alt="" width="1000" height="1310"> 
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jonathanchancellor-7SQnKwU6yx

Perth holds longest days on market for July: APM

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A pair of car parks in the Toorak Village shopping strip have been listed at an asking price of $78,000 each.
The average Melbourne car space costs $50,000 and delivers an average rental yield of 8%, according to findacarpark.com.au.
Agent Peter Kudelka has the 28-30 Jackson Street offering.
Toorak Place features one, two and three bedroom freehold independent living apartments.
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