La Gemme A Southern Highlands Showpiece For Sale
A European-inspired country estate reimagined with couture-level detail, La Gemme sets a new benchmark for Southern Highlands luxury.
2 min
La Gemme Estate, a grand getaway meticulously reimagined by The Property Stylist founder Kyara Larcombe, has debuted on the coveted Southern Highlands property market with a price guide of $30 million.
Kyara and her husband Clayton, founder of PAC Capital and Pacific Partners, bought the Bowral estate in 2021 and collectively set about curating a stately country compound that would feel at home alongside the heritage chateaux of Europe.
The finance and design duo purchased the 40ha property as a luxury weekender, then in 2024 held their wedding (after eloping in Lake Como, Italy) at the 40ha estate – a glamorous event later covered in Vogue magazine.
Deborah Cullen and Richard Royle of Cullen & Royle are marketing La Gemme through an expressions-of-interest campaign, closing on March 10 at 5pm.
“It is an absolute divine experience to wander around this estate. The detailing and finishes are on another level,” Ms Cullen said.
“Excitingly, we have had some very well-known families reach out to learn more.”
Over four years, Kyara – whose team has styled private homes worth as much as $100 million and iconic venues such as the Sydney Opera House – exercised her design prowess to bring the dream project to life. Alongside Clayton, the globetrotters travelled throughout Europe to gather inspiration and acquire unique antique pieces to furnish La Gemme.
Rather than a renovation, Ms Cullen said the finished result is a custom-made mansion with all the must-haves of the 21st Century.
The brand-new estate was designed for offshore investors and high-net-worth homebuyers, with a focus on architectural excellence and complete privacy.
La Gemme Estate can house up to 24 guests in the five-bedroom main residence and a separate two-bedroom guest house.
In the primary house, each bedroom has its own ensuite, and there is an additional attic suite. There are formal lounge and dining spaces, a study, a library and lift access.
Designer elements include a bespoke marble kitchen with two large island benches, a Lacanche stove, butler’s pantry with integrated appliances, reclaimed French oak floors retrieved from a historic church in Normandy, Joseph Gilles hardware, and 18th and 19th-century French chandeliers and mirrors.
Modern features include a climate-controlled wine cellar, underfloor heating, ducted air conditioning, a Lutron home automation system and security, and an integrated Bose sound system.
La Gemme Estate is also home to a 14m heated swimming pool and spa with a cabana and limestone-paved courtyard terrace, an outdoor fireplace and a wellness centre with a fully equipped gym and sauna.
Gardens designed by Richard Haigh feature a long driveway lined with mature plane trees, an abundance of established Australian natives, and a koi lake. Additionally, DA approval has been granted for a luxury stables complex and covered arena, ideal for equestrian enthusiasts.
The property, which is about 120 kms from Sydney and 185 km from Canberra, is accessed via two gated entrances; either from Range Rd, Mittagong or Kimberley Dr, Bowral.
La Gemme at 31 Kimberley Dr, Bowral is listed with Cullen Royle via an expressions of interest campaign closing on March 10 at 5 pm.
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New research shows a widening divide across Australia and New Zealand’s property markets, with investors increasingly forced to look beyond traditional strongholds to find real returns.
3 min
By any traditional measure, Australia’s property market should be moving in sync. Instead, it is fragmenting.
New research from MaxCap, led by Head of Research Bruce Wan, paints a picture of a market no longer defined by national trends, but by sharp regional divergence, where performance gaps between cities are widening, and the smartest capital is moving accordingly.
At the top end of the ladder, Perth and southeast Queensland are surging ahead. At the other, Melbourne and Auckland are only just beginning to recover from recent downturns. And sitting squarely in the middle is Sydney, steady but constrained.
The takeaway is clear: the era of relying on headline markets is over.
The rise of the unexpected leaders
Brisbane and the broader southeast Queensland region have emerged as standout performers, driven by population growth, infrastructure investment and a sustained undersupply of housing.
According to the report, housing values in the region have continued to accelerate, supported by long-term tailwinds including the 2032 Olympic Games and a decade of relatively subdued price growth prior.
Perth is telling a similar story, albeit for different reasons. Once heavily tied to commodity cycles, the Western Australian capital is now benefiting from a broader base of economic drivers, including defence spending and sustained resource sector strength.
The result is a housing market that remains one of the strongest in the country, even as price growth begins to ease from its peak.
Sydney holds, but doesn’t lead
For Sydney, the story is more nuanced.
While prices continue to climb and the city remains Australia’s most expensive market, affordability constraints are clearly limiting its pace. Residential growth, while positive, lags behind smaller capitals, and commercial sectors are being held back by softer demand in key industries.
There are, however, signs of momentum building. New infrastructure, including the western Sydney Airport and expanded rail networks, is expected to unlock development opportunities and support future growth, particularly in emerging precincts.
Still, the report positions Sydney firmly in the “middle of the pack”, no longer the automatic frontrunner for investors.
Melbourne’s slow reset
Melbourne, once a consistent performer, has spent recent years recalibrating.
Extended lockdowns, combined with new state property taxes, have weighed heavily on investor sentiment and pricing, particularly across the commercial office sector. Residential values have also underperformed, though for different structural reasons.
Now, there are early signs of recovery.
Improved affordability, population growth and a stabilising economic backdrop are beginning to draw buyers back into the market, with both residential and commercial sectors showing tentative signs of improvement.
Auckland’s turning point
Across the Tasman, Auckland has faced its own challenges, particularly from an outflow of younger workers to Australia, which has dampened demand and stalled price growth.
But here too, the tide appears to be shifting.
A return to positive migration, lower interest rates and policy changes — including the easing of foreign buyer restrictions — are expected to support a gradual recovery, alongside renewed interest from offshore capital.
A market that rewards precision
If there is one unifying theme, it is this: broad-brush strategies no longer work.
MaxCap’s research highlights that the most compelling opportunities are increasingly found outside the traditional powerhouses of Sydney and Melbourne, requiring investors to take a more targeted, locally informed approach.
“Given these persistent performance gaps, there is plentiful scope for alpha returns, just by picking the right locations and market segments,” the report notes.
In other words, success in this market is no longer about being in property — it is about being in the right property, in the right place, at the right time.
And increasingly, that place may not be where you expect.
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