Prestige Property: 2 Frying Pan Track, Noosa North Shore, QLD
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Prestige Property: 2 Frying Pan Track, Noosa North Shore, QLD

A stunning, sprawling manse where the river meets the sea.

By Terry Christodoulou
Fri, Apr 16, 2021 2:16pmGrey Clock 2 min

Set in the idylls of Noosa North Shore comes this heavenly designer residence known as Eden.

It wears the name well with the 1049sqm, 4-bedroom, 3-bedroom, 7-car garaging home set on 1.61 hectares amongst the trees and botanical-like native gardens on one of the largest waterfront reserve parcels on the Noosa North Shore.

The façade boasts modernist, geometric lines, combined with a palette of strategically placed hanging gardens, natural stone, timber, glass – with the water’s edge merely an extension of the front garden.

From the portico and atrium entrance, generosity is the word that comes to mind. Inside, elevated finishes of marble flooring decorate while light pours through the home via walls of glass offering panoramic water and garden views.

Inside, the major living spaces seamlessly open out on three sides to terraces, sun decks, a gazebo and a pool with Balinese volcanic rock tiles.

The ideal entertainer, the kitchen sees an oversized butler’s pantry with a marble-topped island breakfast bar and Miele dishwasher and ovens, a double-height wine fridge, and banks of storage.

The home is split into what can be best described as suites. The ground floor sees a guest suite with sitting room, ensuite and walk-in-robe. Elsewhere, upstairs has a 2-bedroom, 2-bathroom master retreat complete with its own living area – again, complete with water views.

Separate is the north wing. Here one finds the king master suite with wide views of the Noosa River mouth and Noosa Heads. The suite is complete with its own private balcony, freestanding bathtub (part of the open bathroom) walk-in robe, dressing room and dedicated office area.

Only 5-minutes by boat across the river to Noosaville’s Gympie Terrace, and a little further on is vibrant Noosa Heads and its restaurants and shopping.

The listing is with Tom Offermann Real Estate’s Nic Hunter (+61 421 785 512). Price guide: $7 million; offermann.com.au

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Data reveals house values have continued to decrease, but the rate has slowed as the RBA Board prepares to meet next week

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House values continued to fall last month, but the pace of decline has slowed, CoreLogic reports.

In signs that the RBA’s aggressive approach to monetary policy is making an impact, CoreLogic’s Home Value Index reveals national dwelling values fell -1.0 percent in November, marking the smallest monthly decline since June.

The drop represents a -7.0 percent decline – or about $53,400 –  since the peak value recorded in April 2022. Research director at CoreLogic, Tim Lawless, said the Sydney and Melbourne markets are leading the way, with the capital cities experiencing the most significant falls. But it’s not all bad news for homeowners.

“Three months ago, Sydney housing values were falling at the monthly rate of -2.3 percent,” he said. “That has now reduced by a full percentage point to a decline of -1.3 percent in November.  In July, Melbourne home values were down -1.5 percent over the month, with the monthly decline almost halving last month to -0.8%.”

The rate of decline has also slowed in the smaller capitals, he said.  

“Potentially we are seeing the initial uncertainty around buying in a higher interest rate environment wearing off, while persistently low advertised stock levels have likely contributed to this trend towards smaller value falls,” Mr Lawless said. “However, it’s fair to say housing risk remains skewed to the downside while interest rates are still rising and household balance sheets become more thinly stretched.” 

The RBA has raised the cash rate from 0.10 in April  to 2.85 in November. The board is due to meet again next week, with most experts still predicting a further increase in the cash rate of 25 basis points despite the fall in house values.

Mr Lawless said if interest rates continue to increase, there is potential for declines to ‘reaccelerate’.

“Next year will be a particular test of serviceability and housing market stability, as the record-low fixed rate terms secured in 2021 start to expire,” Mr Lawless said.

Statistics released by the Australian Bureau of Statistics this week also reveal a slowdown in the rate of inflation last month, as higher mortgage repayments and cost of living pressures bite into household budgets.

However, ABS data reveals ongoing labour shortages and high levels of construction continues to fuel higher prices for new housing, although the rate of price growth eased in September and October. 

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