_Exclusive access to Australia’s hidden gems
It has only been one year since Deborah Cullen joined Knight Frank to launch its Prestige Residential division in Australia. Having arrived with long-term colleague, Richard Sholl, in just one short year the pair has worked to build an impressive portfolio of some of the most luxurious, and most sought after, residential properties in Australia.
With a knack for discovering the most extraordinary homes; those with the best views, the most expansive properties, or the finest and most intricate architecture, Deborah Cullen and Richard Sholl’s combined expertise in the prestige residential space guarantees both buyers and sellers a discreet and personalised service which is second to none.
Deborah explains, “We often say that real estate is as much about relationships as property, and this couldn’t be more true than in the prime residential space. Our very select clients expect la crème de la crème, so we take the time to fully understand their needs and are there as a single point of contact throughout.
“While our Prestige Residential division is fairly new in Australia, it has been well established internationally for many years. Richard and I work cohesively with Knight Frank’s Global Prime team, which allows us to tap into a global network of buyers. Having an international database of ultra-wealthy buyers at our fingertips has proven to be an enormous benefit to sellers, and something that really sets us apart from our competitors. I think that is one of the reasons we have managed to be so successful in such a short space of time.”
The Prestige Residential team offers a service that goes well beyond property, and as such, has partnerships with some of the world’s leading luxury brands. From Australia’s leading furniture and design brand, Coco Republic to luxury car company, Trivett Bespoke and wealth management services with Macquarie Private Bank, all Knight Frank’s prestige clients benefit from these partnerships.
The top five: from skyline to coastline
Dedicated to uncovering Australia’s finest properties, Deborah Cullen and Richard Sholl have exclusive access to some of the most exquisite residences imaginable. From stylish CBD penthouse apartments to luxurious waterfront homes – here is a glimpse of the top five luxury homes currently on the market.
Level 40, Darlinghurst, NSW, Australia
Occupying the entire 40th floor of Harry Seidler’s iconic Darlinghurst tower, ‘The Horizon’, this five-bedroom penthouse is arguably the largest single level apartment in Sydney. Boasting exquisite interiors by award winning Melbourne firm, Mim Design, this extravagant home boasts warmth and sophistication of the highest level. With four bedrooms - all with ensuites – as well as fully self-contained quarters for live-in help such as an au pair, housekeeper or chef, this is one of the most stunning penthouse offerings Sydney has to offer. Featuring floor to ceiling windows with sweeping views of Sydney’s skyline and harbour, four balconies, a marble fireplace and a wine room, this is a sleek, modern residence that offers space for the family without compromising on style.
McCarrs Creek Road, Church Point, NSW, Australia - Recently sold
For those who prefer to live away from the hustle and bustle, 196 McCarrs Creek Road is a tranquil waterfront residence located within Sydney’s Northern Beaches. Nestled amongst the tree covered hills of Church Point on approximately 967 sqm, this luxurious, four-bedroom home is situated on an enviable waterfront location and surrounded by national parklands. Boasting a waterfront backyard with a private jetty and pontoon, along with an outdoor spa with stunning water views, this truly is the ultimate in luxury living. With a beautifully appointed contemporary kitchen, stone bench tops and European appliances, this home is as perfect for entertaining as it is for finding peace.
The Skyhouse, 129 Harrington Street, Sydney, NSW, Australia
Crowning the top three floors of Harry Seidler's iconic 'The Cove', 'The Skyhouse' is an extraordinary residence with spectacular 270 degree views. Boasting 486 sqm of internal space in addition to 181 sqm of terraces, this exquisite home features flowing interiors with a floor to ceiling glass wrapped lounge and dining areas. With five bedrooms, a luxe master suite, seven bathrooms and a roof terrace with a spa pool overlooking the Sydney Harbour Bridge and Opera House, this is an incredibly spacious residence at a prestigious Sydney CBD address.
Balmoral Residence, Coronation Avenue, Mosman, NSW, Australia
With breathtaking views over Balmoral Beach, this modern three-level residence boasts a sleek and innovative design, utilising the most technologically advanced amenities. Featuring tall sandstone garden walls and a grand entrance with custom-built solid timber doors, the expansive living space opens out with views to over Sydney Harbour and beyond. With a pool terrace which evokes a tranquil resort feeling, combined with the most stunning, crisp white interiors and state of the art finishes, this four-bedroom luxury beachside home is one of the most exquisite properties in the affluent suburb of Mosman.
Airlie Road, Pullenvale, QLD, Australia
This classic Queenslander showcases all the detail and finishes from the late 1800’s period when it was constructed. Including pressed metal ceilings, ornate original fireplaces and intricate finishing details throughout. Situated on a large 10,000 sqm (1ha) elevated block, this residence was moved from Toowong approx 25 years ago and positioned perfectly on the back of the block in order to majestically capture district and valley views.
Coming soon.... Crown Residences at One Barangaroo, Sydney
Although it will not be completed until 2021, it is impossible to list some of Australia’s top luxury residences without mentioning the exclusive Crown Residences located at One Barangaroo. Managed by Erin van Tuil, the exclusive complex comprises of just 82 private residences with sweeping views over Sydney’s magnificent harbour; and are fast becoming some of the most sought-after luxury residences in the world. Boasting the ultimate in interior design, led by internationally renowned Meyer Davis Studio Interiors, each of the private residences are uniquely styled, delivering individuality, warmth, and a touch of elegance. With secure underground parking, privileged use of hotel services, and exclusive access to a private residents-only open-air pool deck, the Crown Residences will offer inhabitants an exclusive luxury lifestyle, right on the water’s edge.
Growing demand for prime property
Australia’s ultra-wealthy population - defined as US$50m+ - increased by nine per cent in the last year and is expected to grow by 37 per cent in next five years. Additionally, Australia saw a net inflow of 10,000 high-net-worth individuals (net worth US$1m+) in 2017 and is the third most-preferred global destination for the world’s ultra-wealthy planning to emigrate, behind the United Kingdom and United States.
This growing number of ultra-wealthy and high net worth individuals is resulting in increased demand for luxury residential property in Australia. In Q1 2018, annual prime residential property values rose by 8.7% in Sydney; 8.3% in Melbourne; 3.6% in Brisbane and 2.8% in Perth.
But despite the rising values, Australia still offers excellent value for money when compared with other cities in the world. In Australia US$1 million could buy 49 sqm of prime area in Sydney, 91 sqm in Melbourne, 117 sqm in Brisbane and 126sqm in Perth, as opposed to only 16sqm in Monaco, 25 sqm in New York, and 28 sqm in London.
Deborah Cullen says, “We are experiencing an increase in wealthy arrivals, particularly to Sydney, and as such we expect to see demand for luxury residential property skyrocket over the coming years. We’ve also noticed a growing demand from Australian expats either returning home, or wanting to keep a foothold in their home market. So those two factors combined have contributed to the demand.”
When considering purchasing a home in Australia, it is important to note that there are guidelines around which buyers are able to purchase which type of property. For example, foreign investors are only permitted to purchase property that adds to housing stock, such as new dwellings or off-the-plan properties under construction. There are also specific rules for temporary residents and high net worth individuals migrating to Australia. For detailed advice and counsel about your purchasing options, contact Knight Frank’s Prestige Residential Sales team.
(Author: Susin Thoroughgood)