A Warehouse Inspired Penthouse Like No Other
At 921sqm, it’s less like an apartment and more like a house.
2 min
The beauty of a warehouse-style conversion is found in its immense sense of space. This unique offering at 1/6 Tilbrook Street, Teneriffe on the Brisbane River offers vacuous amounts of loft and light across three levels.
The interplay of glass and architectural voids – combined with the 921sqm floorplan – sees this residence feel exceptionally large. With 6-bedrooms, 5-bathrooms and 4-car garage with direct access, the penthouse functions more like a rooftop home than an apartment.
The main living space sees soaring ceiling heights in which the kitchen – fitted with granite benchtops, Gaggenau appliances and a butler’s pantry – combines with the outdoor dining and living room. A vintage Indian motorbike has been bolted into the wall and comes with purchase.
Outdoors, the balcony provides plenty of space to entertain, with a built-in barbecue, refrigeration and kitchenette, while a glass shutter offers protection from the elements.
It’s also on this floor that you’ll find the master suite, which is complete by its own walk-in robe and ensuite.
Upstairs sees the remaining bedrooms, two of which are replete with ensuites. Also here, is the theatre room and a separate large bathroom.
Further, the top level sees more room for entertaining. Here a living space is complete with a powder room, two balconies, a bar and kitchenette, while a gas fireplace forms the centrepiece of the room.
Each floor is accessible via an internal lift, with the residence is also privy to a gym, cellar, guest suite and is controlled by a CBUS-like system that automates, blinds, shutters, the skylight, speakers – found throughout the house – aircon and Boffi fans.
One of only nine residences in the build, the address gives rare access to the restaurants, cafes and Gasworks precinct and is only a short walk to the river.
The listing is with Place’s Heath Williams (+61 403 976 115). Price guide $6m.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Philip Lowe’s comments come amid property industry concerns about pressures on mortgage holders and rising rents
2 min
Leaders in Australia’s property industry are calling on the RBA to hit the pause button on further interest rate rises following yesterday’s announcement to raise the cash rate to 4.1 percent.
CEO of the REINSW, Tim McKibbin, said it was time to let the 12 interest rate rises since May last year take effect.
“The REINSW would like to see the RBA hit pause and allow the 12 rate rises to date work their way through the economy. Property prices have rebounded because of supply and demand. I think that will continue with the rate rise,” said Mr McKibbin.
The Real Estate Institute of Australia today released its Housing Affordability Report for the March 2023 quarter which showed that in NSW, the proportion of family income required to meet the average loan repayments has risen to 55 percent, up from 44.5 percent a year ago.
Chief economist at Ray White, Nerida Conisbee, said while this latest increase would probably not push Australia into a recession, it had major implications for the housing market and the needs of ordinary Australians.
“As more countries head into recession, at this point, it does look like the RBA’s “narrow path” will get us through while taming inflation,” she said.
“In the meantime however, it is creating a headache for renters, buyers and new housing supply that is going to take many years to resolve.
“And every interest rate rise is extending that pain.”
In a speech to guests at Morgan Stanley’s Australia Summit released today, Governor Philip Lowe addressed the RBA board’s ‘narrow path’ approach, navigating continued economic growth while pushing inflation from its current level of 6.8 percent down to a more acceptable level of 2 to 3 percent.
“It is still possible to navigate this path and our ambition is to do so,” Mr Lowe said. “But it is a narrow path and likely to be a bumpy one, with risks on both sides.”
However, he said the alternative is persistent high inflation, which would do the national economy more damage in the longer term.
“If inflation stays high for too long, it will become ingrained in people’s expectations and high inflation will then be self-perpetuating,” he said. “As the historical experiences shows, the inevitable result of this would be even higher interest rates and, at some point, a larger increase in unemployment to get rid of the ingrained inflation.
“The Board’s priority is to do what it can to avoid this.”
While acknowledging that another rate rise would adversely affect many households, Mr Lowe said it was unavoidable if inflation was to be tamed.
“It is certainly true that if the Board had not lifted interest rates as it has done, some households would have avoided, for a short period, the financial pressures that come with higher mortgage rates,” he said.
“But this short-term gain would have been at a much higher medium-term cost. If we had not tightened monetary policy, the cost of living would be higher for longer. This would hurt all Australians and the functioning of our economy and would ultimately require even higher interest rates to bring inflation back down.
“So, as difficult as it is, the rise in interest rates is necessary to bring inflation back to target in a reasonable timeframe.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
