Prestige Property: 17 Truro Place, City Beach, WA
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Prestige Property: 17 Truro Place, City Beach, WA

A contemporary exercise in raw refinement.

By Terry Christodoulou
Fri, Aug 20, 2021 2:14pmGrey Clock 2 min

Located at the highest point of south City Beach comes this inspiring, Hillam architects designed residence atop an expansive 948sqm plot.

The striking, three-storey, 6-bedroom, 7-bathroom, 9-car garage residence is a bold architectural statement utilising a restrained palate of materials including a mixture of raw and polished concrete, natural stone and local hardwoods.

A yellow string bark pathway leads to a ground floor entry foyer which leads to the ground floor living, cabana, bedrooms and gym wing while showcasing the staircase replete with Jarrah hardwood steps and reo bar stair rods.

Upstairs to the first floor, the orientation of the living spaces is designed to absorb the views of the Indian Ocean. The flow continues into the kitchen, family living, butler’s pantry, herb garden, theatre room and connected alfresco entertainment space – alongside private access to the master suite.

The kitchen is fitted with a unique blend of aged chestnut and satin black timbers, concrete and porcelain worktops alongside designed appliances from Sub Zero, Wolf, Siemen and Miele.

The family living space retains the restrained aesthetic with chestnut timber cabinetry, textured concrete and stone mosaics decorating the space. The full-height glazing opens to the ocean views, pool area and balcony entertainment space.

Elsewhere on the first level sees the master suite which is replete with dressing room and an enormous master ensuite complete with a 7-metre long lightwell, Falper sinks and custom cut, bookmatched tiles.

Pietra Oscura Natural matte porcelain tiles ooze luxury across the main levels, with areas of underfloor heating, touch curtains and motorised blinds adding the long-list of mod-cons available.

The ground floor sees a granite alfresco area with pool, spa, and cabana zone as well as a large office enjoys.

Accommodation is providing in the form of three bedrooms that flow to the rear with combinations of ensuite, bathrooms and walk-in-robes while an additional guest suite is available here.

The basement sees yet another guest suite with walk-in-robe, and ensuite alongside a music room, cellar area, and a 9-bay parking garage.

The residence enjoys close proximity to Perth’s beaches, open air cafes while still being 10km from Perth’s CBD.

The listing is with Edison McGrath’s Christopher Dee (+61 413 133 499); POA.


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’

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Hong Kong Takes Drastic Action to Avert Property Slump

The city’s real-estate market has been hurt by high interest rates and mainland China’s economic slowdown

Fri, Mar 1, 2024 3 min

Hong Kong has taken a bold step to ease a real-estate slump, scrapping a series of property taxes in an effort to turn around a market that is often seen as a proxy for the city’s beleaguered economy.

The government has removed longstanding property taxes that were imposed on nonpermanent residents, those buying a second home, or people reselling a property within two years after buying, Financial Secretary Paul Chan said in his annual budget speech on Wednesday.

The move is an attempt to revive a property market that is still one of the most expensive in the world, but that has been badly shaken by social unrest, the fallout of the government’s strict approach to containing Covid-19 and the slowdown of China’s economy . Hong Kong’s high interest rates, which track U.S. rates due to its currency peg,  have increased the pressure .

The decision to ease the tax burden could encourage more buying from people in mainland China, who have been a driving force in Hong Kong’s property market for years. Chinese tycoons, squeezed by problems at home, have  in some cases become forced sellers  of Hong Kong real estate—dealing major damage to the luxury segment.

Hong Kong’s super luxury homes  have lost more than a quarter of their value  since the middle of 2022.

The additional taxes were introduced in a series of announcements starting in 2010, when the government was focused on cooling down soaring home prices that had made Hong Kong one of the world’s least affordable property markets. They are all in the form of stamp duty, a tax imposed on property sales.

“The relevant measures are no longer necessary amidst the current economic and market conditions,” Chan said.

The tax cuts will lead to more buying and support prices in the coming months, said Eddie Kwok, senior director of valuation and advisory services at CBRE Hong Kong, a property consultant. But in the longer term, the market will remain sensitive to the level of interest rates and developers may still need to lower their prices to attract demand thanks to a stockpile of new homes, he said.

Hong Kong’s authorities had already relaxed rules last year to help revive the market, allowing home buyers to pay less upfront when buying certain properties, and cutting by half the taxes for those buying a second property and for home purchases by foreigners. By the end of 2023, the price index for private homes reached a seven-year low, according to Hong Kong’s Rating and Valuation Department.

The city’s monetary authority relaxed mortgage rules further on Wednesday, allowing potential buyers to borrow more for homes valued at around $4 million.

The shares of Hong Kong’s property developers jumped after the announcement, defying a selloff in the wider market. New World Development , Sun Hung Kai Properties and Henderson Land Development were higher in afternoon trading, clawing back some of their losses from a slide in their stock prices this year.

The city’s budget deficit will widen to about $13 billion in the coming fiscal year, which starts on April 1. That is larger than expected, Chan said. Revenues from land sales and leases, an important source of government income, will fall to about $2.5 billion, about $8.4 billion lower than the original estimate and far lower than the previous year, according to Chan.

The sweeping property measures are part of broader plans by Hong Kong’s government to prop up the city amid competition from Singapore and elsewhere. Stringent pandemic controls and anxieties about Beijing’s political crackdown led to  an exodus of local residents and foreigners  from the Asian financial centre.

But tens of thousands of Chinese nationals have arrived in the past year, the result of Hong Kong  rolling out new visa rules aimed at luring talent in 2022.


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’

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