Beachfront Queensland Mansion With Drive-In Foyer Lists For $6.8 Million
There’s also a saltwater aquarium, a soundproof office and views of the Great Barrier Reef.
2 min
A contemporary waterfront megamansion with a drive-in foyer, a lionfish-stocked saltwater aquarium and direct access to the beach hit the market Monday with a guide price of $6.8 million.
Located in Kewarra Beach — which is part of the Cairns northern beaches region of Queensland—the residence is expected to set a record for the most expensive home in the area, according to listing agent Barbara Wolveridge of Queensland Sotheby’s International Realty.
“The highest sale price [in the region] is $6.5 million and we anticipate exceeding that price with the Astoria House sale which has a price guide of $6.8 million,” she said in an email. “With the buyers’ interest that we have received to date, we anticipate establishing a new benchmark sale for the region.”
Designed by Los Angeles-based architect Andy Hall, the more than 1050sqm abode was commissioned by restaurant entrepreneur Alistair Paton and his wife, Theresa, and completed in 2018. They purchased the underlying property in 2009 for A$1.3 million, according to records on PropTrack.
The glass-and-steel home was designed to maximize views of Double Island and beyond to the Great Barrier Reef. In fact, it has the largest glass window in the southern hemisphere and it is manufactured with bulletproof glass, according to Mr. Paton. The couple also installed an array of impressive amenities, starting with the foyer, which boasts drive-in capabilities and room to display a car collection.
“People [are] instantly wowed when they walk through the front door and see the massive steel-and-glass curtain wall,” Mr Paton said in an email. “Everyone wonders how it was built, how long it took and how we got the materials to the building site. They also love the Ducati inside, the extensive art gallery walls and the vintage Alfa Romeo that we used to have parked inside.”
The saltwater aquarium is another highlight.
“We have lionfish, an epaulette shark, stonefishes, Picasso triggerfish, and a dog-faced puffer,” Mr Paton continued. “I wanted a tank with a blue-ringed octopus and leopard sharks, however, that was sensibly tempered given our young children enjoying feeding the fish.”
The home has five bedrooms, including two primary bedroom suites which are “like little houses in themselves,” Ms. Paton said in an email. “I love the oversized balconies. In winter, we sleep with the balcony doors open. There’s nothing like seeing the stars at night and falling asleep to the sound of waves then waking up to a beach view in the morning. What a way to start the day!”
Other amenities include a soundproof office, solar panels, a concert-grade sound system “suitable to host a Rolling Stones concert or a solo violinist” and an outdoor entertaining area with a pool and sports fields. The home also has direct access to the beach and the paved walking trail that extends along the Coral Seas coastline.
Reprinted by permission of Mansion Global. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: June 15, 2022.
Copyright 2020, Dow Jones & Company, Inc. All Rights Reserved Worldwide. LEARN MORE
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Ray White’s chief economist outlines her predictions for housing market trends in 2024
2 min
Ray White’s chief economist, Nerida Conisbee says property price growth will continue next year and mortgage holders will need to “survive until 2025” amid expectations of higher interest rates for longer.
Ms Conisbee said strong population growth and a housing supply shortage combatted the impact of rising interest rates in 2023, leading to unusually strong price growth during a rate hiking cycle. The latest CoreLogic data shows home values have increased by more than 10 percent in the year to date in Sydney, Brisbane and Perth. Among the regional markets, price growth has been strongest in regional South Australia with 8.6 percent growth and regional Queensland at 6.9 percent growth.
“As interest rates head close to peak, it is expected that price growth will continue. At this point, housing supply remains extremely low and many people that would be new home buyers are being pushed into the established market,” Ms Conisbee said. “Big jumps in rents are pushing more first home buyers into the market and population growth is continuing to be strong.”
Ms Conisbee said interest rates will be higher for longer due to sticky inflation. “… we are unlikely to see a rate cut until late 2024 or early 2025. This means mortgage holders need to survive until 2025, paying far more on their home loans than they did two years ago.”
Buyers in coastal areas currently have a window of opportunity to take advantage of softer prices, Ms Conisbee said. “Look out for beach house bargains over summer but you need to move quick. In many beachside holiday destinations, we saw a sharp rise in properties for sale and a corresponding fall in prices. This was driven by many pandemic driven holiday home purchases coming back on to the market.”
3 key housing market trends for 2024
Here are three of Ms Conisbee’s predictions for the key housing market trends of 2024.
Luxury apartment market to soar
Ms Conisbee said the types of apartments being built have changed dramatically amid more people choosing to live in apartments longer-term and Australia’s ageing population downsizing. “Demand is increasing for much larger, higher quality, more expensive developments. This has resulted in the most expensive apartments in Australia seeing price increases more than double those of an average priced apartment. This year, fewer apartments being built, growing population and a desire to live in some of Australia’s most sought-after inner urban areas will lead to a boom in luxury apartment demand.”
Homes to become even greener
The rising costs of energy and the health impacts of heat are two new factors driving interest in green homes, Ms Conisbee said. “Having a greener home utilising solar and batteries makes it cheaper to run air conditioning, heaters and pool pumps. We are heading into a particularly hot summer and having homes that are difficult to cool down makes them far more dangerous for the elderly and very young.”
More people living alone
For some time now, long-term social changes such as delayed marriage and an ageing population have led to more people living alone. However, Ms Conisbee points out that the pandemic also showed that many people prefer to live alone for lifestyle reasons. “Shorter term, the pandemic has shown that given the chance, many people prefer to live alone with a record increase in single-person households during the time. This trend may influence housing preferences, with a potential rise in demand for smaller dwellings and properties catering to individuals rather than traditional family units.”
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
