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.
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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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Strong consumer spending and tight supply have driven retail to the top of commercial property, but signs of pressure are starting to emerge.
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Australia’s retail property sector entered 2026 as the strongest performing commercial asset class, but rising geopolitical risks and cost pressures are beginning to test its resilience, according to new research from Knight Frank.
The latest Australian Retail Review shows the sector rode a wave of consumer spending and constrained supply through 2025, delivering total returns of 9.2 per cent and driving transaction volumes up 43 per cent year-on-year to $14.4 billion.
That momentum carried into early 2026, with around $3.6 billion in deals recorded in the first quarter alone.
“Retail clearly emerged as the standout commercial property performer in 2025,” said Knight Frank Senior Economist, Research & Consulting Alistair Read.
“Improving household spending, limited new supply and stronger leasing fundamentals combined to drive better income growth and renewed investor confidence in the sector.”
Spending rebound drives retail strength
A lift in household spending has been central to the sector’s performance. Consumer spending rose 4.6 per cent year-on-year to February 2026, supported by easing inflation and improving real incomes.
That shift flowed directly into retailer performance, with average EBIT margins across major retailers rising to 8.9 per cent in the first half of 2026, their strongest level in several years.
“Stronger consumer spending was critical in restoring momentum to the retail sector,” Mr Read said.
“Retailers have generally been better able to absorb costs, rebuild margins and support sustainable rental outcomes, particularly in higher-quality centres.”
Improved trading conditions also pushed leasing spreads up 4.2 per cent in 2025, reinforcing income growth and supporting capital values.
Geopolitical tensions begin to bite
But the outlook has become more complicated. The report warns that escalating conflict in the Middle East and its impact on fuel prices, supply chains and interest rates could weigh heavily on consumer spending.
“Higher fuel prices, flow-on cost pressures across supply chains, and recent interest rate increases are collectively squeezing household budgets, and early consumer sentiment data suggests confidence is already softening,” Mr Read said.
“While household balance sheets remain generally resilient, heightened uncertainty over future costs is likely to weigh on spending — particularly in discretionary categories — in the months ahead.”
The impact is already being felt in investment activity. While the year began strongly, transaction volumes slowed in March as investors paused amid the uncertainty.
“Early indicators suggest elevated uncertainty has already begun to affect the market. While retail investment enjoyed its strongest start to a year in a decade, with nearly $3 billion transacted by the end of February, activity stalled in March, as investors took a pause amid elevated uncertainty,” Mr Read said.
Solid foundations support medium-term outlook
Despite the near-term headwinds, Knight Frank maintains that the sector’s underlying fundamentals remain strong. Limited new supply, high construction costs and population growth are expected to continue supporting rental growth over the medium term.
“Retail has entered this period of uncertainty from a position of strength,” Mr Read said.
“Supply-side constraints, population growth and improving income fundamentals remain powerful structural supports for the sector.”
The report highlights several trends shaping the year ahead, including steady yields as interest rates rise, mounting pressure on tenant margins, continued outperformance of prime centres, the growing need for logistics integration, and risks linked to underinvestment in capital expenditure.
For now, retail remains a sector with momentum, but one increasingly at the mercy of forces far beyond the shopping centre.
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