Family's dream home could rewrite Brisbane records

Although Corazón was meticulously built to be the Smout family’s dream home, the glamorous Brisbane residence is now seeking its next custodian.

The luxury New Farm property named Corazón, the Spanish word for heart, was always meant to be the Smouts’ forever home.

Becky, a teacher-turned-design specialist, and her property developer husband Francisco bought a pre-war timber home on the 810sq m site back in 2022 for $2.625 million. They then painstakingly transformed it into a luxury 21st-century residence.

The laborious process included a full year of negotiations with Brisbane City Council to secure approval for the now six-bedroom, nine-bathroom architectural landmark at 563 Lower Bowen Tce.

Plans for the family of five are taking another direction, and on June 13, Corazón will go under the hammer, marketed by Matt Lancashire and his team from Ray White Collective Luxury.

“This is the most incredible house I have ever seen. The quality of the build, the finish, this family poured their heart into this home for three years, and it shows in every single detail. There is nothing else like it in Brisbane,” he said.

Since the house is headed to auction, Queensland regulations prevent agents from publicly advertising price guides.

However, according to Cotality records, the current price record for New Farm is $25 million, set by a renovated home at 17 Julius St that sold for $25 million in 2025.

The top figure paid on Lower Bowen Tce was set in 2023, when a contemporary 503 sq m property at number 603 sold for $6.2 million.

Lancashire added that demand for luxury Brisbane property had never been stronger, as more cashed-up buyers seek designer homes close to the CBD.

Just this month, Lancashire and his colleague Josh Brown set a new suburb price record when Governess, an 1860s-era home in Paddington reimagined by local builder-developer Graya, sold for an undisclosed sum reported to be “more than” $12 million.

Corazón is an example of how the Australian prestige market is currently reflecting the high-end tastes of high-net-worth buyers.

Vanessa Rader, Ray White head of research, said the nation’s wellness economy – now valued at $141 billion and representing 7.8 per cent of GDP – was actually reshaping buyer expectations.

“The most significant transformation in luxury real estate is happening behind the walls,” Rader explained.

“Intelligent wellness design is no longer coming; it has already arrived in Australia’s premium property market, redefining luxury for a generation that values optimisation.”

Today, the spacious three-storey New Farm home has 963sq m of internal and external living space, crafted for Queensland’s long summers and laidback lifestyle.

Standout design features include a dramatic double-helix spiral staircase, 3m ceilings, curved glass and steel, off-form concrete surfaces, Venetian plaster walls, and a show-stopping solid marble travertine bathtub carved from a single block of stone.

The ground floor is an entertainer’s playground with a vast open-plan living and dining zone anchored by a sleek kitchen complete with a long eat-at island bench, a hidden buyer’s pantry, plus Miele, Gaggenau and Pitt appliances.

Floor-to-ceiling glass walls peel back to reveal a paved terrace featuring a full outdoor kitchen and an integrated Beefeater barbecue.

A heated magnesium-filled pool sits next to a grassed courtyard and fire pit, with an added wellness retreat space housing a sauna, an ice bath, and a bathroom.

The entry level also houses a separate media room, a wine bar, a guest bedroom with an ensuite, a mudroom-style laundry and a home office with built-in desks.

A private lift serves all floors, including the accommodation level, which has five ensuite bedrooms, as well as a first-floor retreat and study area. In the primary suite, there is a huge dressing room, strategically placed skylights and a lavish bathroom with a double shower.

As an added bonus for the kids, one bedroom has its own rock-climbing wall and suspended net cubby.

One more level up, and the rooftop lounge with a kitchenette has sweeping city skyline views and a grand terrace.

Security features at the home include facial-recognition entry, perimeter cameras, and a comprehensive internal and external alarm system. There is also a Crestron smart home system with Dali lighting control for more than 400 fittings.

Corazón has a three-car garage with a gym and parking for up to three more cars behind the security gates. The Lower Bowen Tce home is approximately 200m from New Farm Park, 400m from Merthyr village and 2 km from the Brisbane CBD.

The Centennial Collection, the new apartment development on the edge of Centennial Park in Bondi Junction, continues to break local residential property records.

A local Eastern suburbs buyer has splashed $11 million on a three-bedroom, sub-penthouse on level 10 of the development, topping the previous record within the same development.

At 266 sqm, including internal and external space, the north-facing residence achieved more than $55,000 per sqm, making it one of the most expensive apartment transactions ever recorded in Sydney’s eastern suburbs outside the harbourfront enclaves of Double Bay and Darling Point.

The buyer had originally purchased a three-bedroom apartment in The Centennial Collection in 2025 for $6.5 million before deciding to secure the larger half-floor sub-penthouse.

Ray White Projects Director of Sales Marcello Bo, who is managing sales for the project, said the transaction highlighted the continued strength of demand for premium apartments in Sydney’s eastern suburbs.

“This sale is a clear indication of buoyancy in the upper end of the market and reinforces the strong demand and appetite for primely located, larger-sized apartments with all the luxurious inclusions you would expect with a development of this calibre,” Bo said.

“It also demonstrates that superbly-designed, lifestyle-driven residences in tightly held locations continue to outperform, particularly when they deliver scale, privacy, rarity and long-term liveability that aligns with how buyers want to live today.”

The Centennial Collection occupies a prominent gateway site overlooking Centennial Park at the junction of Bondi Junction, Woollahra and Paddington. Following recent State Significant Development approval, the project now comprises 79 apartments across two adjoining towers rising 13 and 16 storeys.

The development has been designed to target owner-occupiers seeking larger-format apartments, with residences featuring inclusions more commonly associated with standalone homes, including private rooftop pools, bedroom fireplaces, wet bars, butler’s pantries and full-sized wine fridges.

The record-setting residence was originally designed as one of the project’s penthouses before the approval process allowed additional levels to be added to the scheme.

Positioned on Level 10, the apartment occupies half a floor and has no common walls. It offers 270-degree views spanning Sydney Harbour, the Harbour Bridge, Opera House, Centennial Park and both the northern and southern headlands.

The purchaser said that proximity to Centennial Park, transport connectivity, and the surrounding lifestyle amenities ultimately drove his decision.

“I’m constantly looking at developments everywhere in the east, from Darling Point to Rushcutters Bay, Double Bay, all the beaches, Bondi, Bronte, Tamarama, Woollahra. I wanted something new,” he said.

“Everywhere you go, there’s a trade-off. It might have a great floor plan, but it doesn’t have a view. Working in the city, your daily commute impacts everything, so Bondi Junction train station was a huge factor in my decision.”

The buyer, an avid cyclist who rides regularly in Centennial Park, said his view of the location changed significantly as he spent more time assessing the eastern suburbs market.

“At first, I thought, who would want to live there? It’s one of the busiest intersections in the eastern suburbs. But when you peel it all back, it’s one of the best locations in Sydney. You’re close to everything, you can walk to everything, the amenity is incredible, and the views are amazing.”

Bondi Junction is slated to look materially different in the coming decades, with a draft 100-page masterplan proposing a regeneration of the suburb which would include thousands more apartments as well as a revitalised commercial, retail, and dining precinct.

Family’s dream home could rewrite Brisbane records

Built as a forever home, Corazón combines wellness, luxury and architectural flair in one of New Farm’s most ambitious residential projects.

A record-breaking $11 million sale at The Centennial Collection has set a new benchmark for luxury apartment living in Bondi Junction.