PERIOD GREENWICH ESTATE A SLICE OF SYDNEY HISTORY
A rare slice of Sydney history, Coolabah blends Victorian grandeur with modern luxury in the heart of Greenwich; once home to Lane Cove’s first Lord Mayor and now listed with a $6.5m guide.
2 min
Coolabah has earned its place in Sydney’s heritage for several reasons. The period Greenwich estate is not simply a prime example of Victorian era design; the property was also home to Lane Cove’s premier Lord Mayor, Jeremiah Roberts.
Dating back to 1883, the restored residence at 45 Greenwich Rd has only had a handful of owners, including vendor and interior designer Jo Ellis-Doty.
“Our family has lived here for 14 years,” says Ellis-Doty.
“It’s 142 years old and we’re only the fifth family to own it. We’ve loved every moment of restoring and living in this incredible home.”
Ellis-Doty and her husband are downsizing to an apartment, so Coolabah will be auctioned on May 31. It will be sold for a guide of $6.5 million via James Bennett of Belle Property Lane Cove.
Prior to its grand makeover, records show the property last exchanged in 2011 for $2.1 million.
The classic five-bedroom house has been masterfully enticed into the 21st Century by its owner, with meticulous attention to detail.
“Locals have told us how the sitting room was used to hold dances. They would open up the French doors to the porch and linger too late in the night,” Ellis-Doty adds.
“When we were renovating, we found a safe embedded in the primary bedroom wall, and a bag of jewellery was retrieved.
“It had been forgotten by the previous owners, and they were very happy to have it returned. We are so very honoured to have been the custodians of such a beautiful period property. We will miss it terribly.”
The original owner, Lord Mayor Roberts, made his name in publishing before entering politics. He came to office in 1895, marking the beginning of the area’s municipal independence from the borough of Willoughby.
“Homes like this don’t come around often. It’s a true Greenwich treasure,” Bennett says.
With a raft of period features, Coolabah has high ceilings and several ornate fireplaces, including an original made in the 1850s and later imported from England in the downstairs bathroom.
Now updated for modern family living, the heritage home on 663 sq m features two large living areas that spill out through French doors to terraces. In contrast, the state-contemporary provincial kitchen features a vast island bench and a walk-in pantry.
In addition to a ground-floor bedroom and palatial main bathroom, there are three more bedrooms on the upper level, including a primary suite with another grand bathroom and a private balcony showcasing city skyline views.
Outdoors, manicured hedges frame immaculate gardens and a travertine wraps around the backyard mosaic saltwater pool.
Although it was created in the 19th century, Coolabah has a host of modern day amenities from ducted air-conditioning and solar panels, to CCTV security and a gated carport. There is also a separate lock up garage.
Sitting on the corner of Greenwich and the aptly named Coolabah Ave, the stately home is close to village shops and cafes, as well as Wollstonecraft Station and a number of sought-after schools.
Coolabah at 45 Greenwich Rd, Greenwich, is being marketed by Belle Property Lane Cove Principal James Bennett with a $6.5 million price guide and will go to auction on May 31.
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As interest rates, inflation and market sentiment fluctuate, investors are being urged to focus on data, not panic.
Australia’s housing affordability crisis is being fuelled by chronic undersupply, planning delays and rising development costs, as politicians continue to focus on the wrong solutions.
3 min
Australia’s housing crisis will not be solved by first-home buyer incentives or tax changes alone, with leading property figures warning governments must tackle supply constraints if affordability is to improve.
Speaking at the Kanebridge Quarterly Property Leadership Summit in Sydney last week, expert project marketing specialist Sam Elbanna, property investor and fund manager Paul Miron and property consultant Karla McNeice said that a lack of housing supply remained the central issue facing the market.
Elbanna, Director of CPM Realty with more than 30 years’ experience in project sales, argued that successive governments had focused too heavily on stimulating demand rather than addressing the barriers preventing new housing from being delivered.
“The misconception is that politicians think the way to solve the housing crisis is to drive demand,” he said.
“The reality is that’s not the way. This is a supply-side problem, and it needs to be solved on the supply side.”
Drawing on his experience in project sales, Elbanna said policies designed to help first-home buyers often had unintended consequences, pointing to previous grants that ultimately flowed through to higher property prices.
Instead, he said developers were facing increasing red tape, approval delays and rising costs, which were discouraging new housing supply.
“In the absence of stock, demand exceeds supply,” he said.
Miron, a Co-Founder and Fund Manager of Msquared Capital, said the housing debate had become overly focused on tax policy while overlooking broader structural issues.
He argued that affordability challenges stemmed from a combination of factors, including planning constraints, supply shortages, migration levels and interest rates.
“No-one can be 100 per cent certain on the real reason for property prices is going up,” he said.
“The reason why property prices are higher is a combination of interest rates, lack of supply, migration, vacancy rates and maybe taxes play a role.”
Miron was critical of recent federal housing policy changes, warning they could reduce the number of new homes being built and further constrain supply that was even highlighted in the budget.
He also highlighted the importance of the property sector to the broader economy, noting that residential real estate and related industries employed more than one million Australians.
McNeice, who advises developers on sales strategy and market intelligence, said understanding buyers had become increasingly important as affordability pressures intensified.
While affordability remained a major consideration, she said today’s buyers were focused on value rather than simply price.
“People are looking for value for money,” she said.
She said buyers were increasingly evaluating factors such as transport connections, walkability, nearby amenities and flexible living spaces that could accommodate changing family needs.
“What infrastructure is going on? Can I walk to the shops? Can I meet people at the local cafe?” she said.
The panel also discussed the mounting pressures facing developers, with Elbanna arguing that many projects become financially unviable from the moment a site is purchased.
“The viability of a development happens at the moment the site is bought,” he said.
He said rising construction costs, higher interest rates and overly optimistic feasibility assumptions had left some developers exposed as market conditions changed.
While acknowledging the growing number of smaller and first-time developers entering the market, Elbanna said property development required expertise across finance, construction, marketing and legal disciplines.
“It is actually a business that requires a level of expertise,” he said.
Looking ahead, the panel agreed opportunities remained in the market despite current challenges.
Miron said property should continue to be viewed as a long-term investment and cautioned against trying to time short-term market movements.
McNeice said success would increasingly depend on identifying projects that genuinely met changing buyer expectations.
Elbanna said affordable housing remained achievable, but developers needed to deliver more than just homes.
“We can provide affordable housing in this country,” he said.
“But we’ve got to wrap that affordable housing with the things that people want.”
As Australia’s housing affordability debate intensifies, the panellists agreed on one point: without a meaningful increase in housing supply, demand-side measures alone are unlikely to solve the nation’s property challenges.
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