Prestige Property: 10-12 Rowland Street, Kew, VIC
Kanebridge News
Share Button

Prestige Property: 10-12 Rowland Street, Kew, VIC

A grand way of life in Melbourne’s inner east.

By Terry Christodoulou
Fri, Oct 22, 2021 3:27pmGrey Clock 2 min

Built in the tradition of palatial European architecture comes this remarkable villa and its breathtaking dimensions, craftsmanship and drama.

The 5-bedroom, 4-bathroom, 4-car garage manse is located on 1979sqm of land in Melbourne’s sought-after suburb of Kew.

Here, the magnificent pile is finished with the finest imported details elevating the home to a new level of luxury.

Stepping inside the home one is immediately awestruck by the cathedral scale of the reception hall and its black and white marble floors, hand-crafted plasterwork and soaring skylit dome.

French silk wall coverings and oak parquetry floors distinguish the formal dining room – complete with a marble gas fire – while the refined executive office and fitted library feature bespoke timber panelling.

Often the centrepiece of the home, the kitchen is an entertainer’s dream featuring swathes of Calacatta marble, stainless steel work island, Ilve ovens, integrated Liebherr fridge/freezer, and a butler’s pantry with integrated Miele coffee machine at one’s disposal.

Here, bi-fold doors open the living area to an expansive undercover alfresco entertaining terrace with a barbecue kitchen, pizza oven, heaters and all-weather screens for use all year round.

It’s an opportunity to soak in the beauty of the Paul Bangay designed gardens, replete with a stunning water feature.

In the opposite wing and also leading out to the garden is a gas-heated indoor pool and spa with sauna, steam room, bathroom and gym.

A staircase leads to the main bedroom suite complete with an opulent dressing room and marble adorned ensuite.

Two additional bedrooms with walk-in robes, desks and stylish ensuites are further accompanied by two bedrooms with built-in robes and a shared bathroom.

Elsewhere, the fully fitted home theatre boasts French silk wall coverings and is complemented by the full-sized billiards room served by a bar-room complete with a wine fridge for entertaining. The basement also sees a cellar.

The home presents a heady amalgamation of old-world European charm, with grand fixtures such as Venetian chandeliers paired with CCTV, video intercom, C-bus lighting, zoned heating and more.

The listing is with Marshall White Stonnington’s Nicole French (+61 417 571 505) and has a price guide of $17 – 18.5 million; marshallwhite.com



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
How much income is required to service a mortgage? It depends on where you live
By Bronwyn Allen 25/04/2024
Property
A Dramatic London Home in a Former Chapel That Starred in ‘Call the Midwife’ Is Renting for £39,000 per Month
By LIZ LUCKING 24/04/2024
Property
On the Market for the First Time, This Hamptons Beach House Is Listed for Nearly $26 Million
By CASEY FARMER 23/04/2024
How much income is required to service a mortgage? It depends on where you live

New research suggests spending 40 percent of household income on loan repayments is the new normal

By Bronwyn Allen
Thu, Apr 25, 2024 3 min

Requiring more than 30 percent of household income to service a home loan has long been considered the benchmark for ‘housing stress’. Yet research shows it is becoming the new normal. The 2024 ANZ CoreLogic Housing Affordability Report reveals home loans on only 17 percent of homes are ‘serviceable’ if serviceability is limited to 30 percent of the median national household income.

Based on 40 percent of household income, just 37 percent of properties would be serviceable on a mortgage covering 80 percent of the purchase price. ANZ CoreLogic suggest 40 may be the new 30 when it comes to home loan serviceability. “Looking ahead, there is little prospect for the mortgage serviceability indicator to move back into the 30 percent range any time soon,” says the report.

“This is because the cash rate is not expected to be cut until late 2024, and home values have continued to rise, even amid relatively high interest rate settings.” ANZ CoreLogic estimate that home loan rates would have to fall to about 4.7 percent to bring serviceability under 40 percent.

CoreLogic has broken down the actual household income required to service a home loan on a 6.27 percent interest rate for an 80 percent loan based on current median house and unit values in each capital city. As expected, affordability is worst in the most expensive property market, Sydney.

Sydney

Sydney’s median house price is $1,414,229 and the median unit price is $839,344.

Based on 40 percent serviceability, households need a total income of $211,456 to afford a home loan for a house and $125,499 for a unit. The city’s actual median household income is $120,554.

Melbourne

Melbourne’s median house price is $935,049 and the median apartment price is $612,906.

Based on 40 percent serviceability, households need a total income of $139,809 to afford a home loan for a house and $91,642 for a unit. The city’s actual median household income is $110,324.

Brisbane

Brisbane’s median house price is $909,988 and the median unit price is $587,793.

Based on 40 percent serviceability, households need a total income of $136,062 to afford a home loan for a house and $87,887 for a unit. The city’s actual median household income is $107,243.

Adelaide

Adelaide’s median house price is $785,971 and the median apartment price is $504,799.

Based on 40 percent serviceability, households need a total income of $117,519 to afford a home loan for a house and $75,478 for a unit. The city’s actual median household income is $89,806.

Perth

Perth’s median house price is $735,276 and the median unit price is $495,360.

Based on 40 percent serviceability, households need a total income of $109,939 to afford a home loan for a house and $74,066 for a unit. The city’s actual median household income is $108,057.

Hobart

Hobart’s median house price is $692,951 and the median apartment price is $522,258.

Based on 40 percent serviceability, households need a total income of $103,610 to afford a home loan for a house and $78,088 for a unit. The city’s actual median household income is $89,515.

Darwin

Darwin’s median house price is $573,498 and the median unit price is $367,716.

Based on 40 percent serviceability, households need a total income of $85,750 to afford a home loan for a house and $54,981 for a unit. The city’s actual median household income is $126,193.

Canberra

Canberra’s median house price is $964,136 and the median apartment price is $585,057.

Based on 40 percent serviceability, households need a total income of $144,158 to afford a home loan for a house and $87,478 for a unit. The city’s actual median household income is $137,760.

 

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

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

Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts

Related Stories
Lifestyle
3 Reasons You Should Buy a Stick Vacuum—And 3 Reasons They Suck
By KATE MORGAN 08/12/2023
Money
Investing in Nature Is Gaining Traction. Will It Be Enough?
By ABBY SCHULTZ 10/01/2024
Lifestyle
Only 5% of U.S. Foundations Invest for Impact, Study Finds
By ABBY SCHULTZ 02/03/2024
0
    Your Cart
    Your cart is emptyReturn to Shop