Bygone elegance meets contemporary living in a rare prestige offering
Kanebridge News
Share Button

Bygone elegance meets contemporary living in a rare prestige offering

You don’t even need to turn the car around when you leave

By KANEBRIDGE NEWS
Thu, Aug 10, 2023 7:58amGrey Clock < 1 min

If this property looks like something out of a magazine, that’s because it is. The six-bedroom, four-bathroom 1880s Italianate estate at 75 Ocean Street Woollahra has been showcased in Architectural Digest and Vogue Living no less. Known as ‘Icilus’, the property is set over three levels on 853sqm, including a basement area with fully equipped gym with bathroom and is surrounded by formal gardens and alfresco dining areas that would look at home in Europe.

Perhaps unsurprisingly, every detail of this property has been considered, from the marble kitchen with top of the range Wolf appliances to the auto turntable parking, which makes navigating this vibrant part of the city so much easier. There’s also a spacious home office large enough for two and separate playroom or retreat packed with storage.

Temperatures are managed all year round thanks to air conditioning and hydronic heating, while the abundant natural light ensures a comfortable ambience throughout the day.

On the upper level, the main bedroom suite includes walk through dressing room and generous ensuite. 

While the layout is perfectly placed for modern living, it’s the style of this house that will draw buyers in. Bespoke wallpapers, designer pendant lighting, Belgian steamed oak floors and marble fireplaces create a sense of opulence. Beautifully curated by Claire Delmar of CD Studio, spaces speak of bygone charm and contemporary elegance. The property has a price guide of $25 million.

 

Address: 75 Ocean Street, Woollahra

Price guide: $25 million

Auction: August 19 2023 at 12.45pm

Agent: Ben Collier 0414 646 476 bencollier@theagency.com.au



MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Property
The two Australian states where it’s a buyers’ market
By Bronwyn Allen 18/06/2024
Property
China’s Housing Market Woes Deepen Despite Stimulus
By REBECCA FENG 18/06/2024
Property
The Australian state attracting savvy investors is not where you think
By Bronwyn Allen 15/06/2024
The two Australian states where it’s a buyers’ market

Property values have experienced strong growth around the country, but there are two highly desirable areas where oversupply is putting downward pressure on sales

By Bronwyn Allen
Tue, Jun 18, 2024 2 min

While property values are rising strongly in most markets across Australia, it’s a vastly different story in Victoria and Tasmania, new data from CoreLogic shows. Over the 12 months to May 31, the median house price lifted just 1.8 percent in Melbourne and fell 0.6 percent in regional Victoria. The median dipped 0.1 percent in Hobart and ticked 0.4 percent higher in regional Tasmania. This is in stark contrast to Perth, where values are up 22 percent, and regional Western Australia, up 14.8 percent; as well as Brisbane, up 16.3 percent, and regional Queensland, up 11.8 percent.

CoreLogic Head of Research, Eliza Owen says an oversupply of homes for sale has weakened prices in Victoria and Tasmania, creating buyers’ markets.

On the supply side, there has been more of a build-up in new listings than usual across Victoria, even where home value performance has been relatively soft,” Ms Owen said. Victoria has also had more dwellings completed than any other state and territory in the past 10 years, keeping a lid on price growth. The additional choice in stock means vendors have to bring down their price expectations, and that brings values down.”

Melbourne dwelling values are now four percent below their record high and Hobart dwelling values are 11.5 percent below their record high. Both records were set more than two years ago in March 2022. The oversupply has also affected how long it takes to sell a property. The median days on market is currently 36 in Melbourne and 45 in Hobart compared to a combined capitals median of 27. It takes 55 days to sell in regional Victoria and 64 days in regional Tasmania compared to a combined regional median of 42 days.

Changes in population patterns have also contributed to higher numbers of homes for sale in recent years. Since COVID began in early 2020, thousands of families have left Melbourne because working from home meant they could buy a bigger property in more affordable areas. While many relocated to regional Victoria, a significant proportion left the state altogether, with South-East Queensland a favoured destination. Meantime, Tasmania’s surge in interstate migration during FY21 was short-lived. Data from the Australian Bureau of Statistics shows the island state has recorded a net loss of residents to other states and territories every quarter since June 2022.

Record overseas migration has more than offset interstate migration losses, thereby keeping Victoria’s and Tasmania’s populations growing. However, the impact of migrants on housing is largely seen in the rental market, so this segment of population gain has done little to support values. Growth in weekly rents has been far stronger than growth in home values over the past year, with rents up 9 percent in Melbourne and 4.8 percent in regional Victoria, and up 1 percent in Hobart and 2.7 percent in regional Tasmania.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Money
A Killer Golf Swing Is a Hot Job Skill Now
By CALLUM BORCHERS 14/06/2024
Money
How the Middle East Became the Latest ‘Gold Rush’ in Marketing
By MEGAN GRAHAM 18/06/2024
Money
The Money Habits I Learned From My Parents—for Better or Worse
By JESSICA CHOU 16/06/2024
0
    Your Cart
    Your cart is emptyReturn to Shop