Three Of The Best: Bellevue Hill Penthouses

Sydney Morning Herald

Saturday July 19, 2008

Margie Blok

Change of face

Modest bungalows have been replaced by boutique apartments.

Since the late 1990s property boom, Bellevue Hill's north-facing slopes near the border with Bondi have changed enormously due to developers descending on the precinct to build expensive low-rise apartment complexes.

Once considered the "wrong end" of this prestigious suburb, the area attracted developers because many sites had a northerly aspect, harbour views and the appropriate zoning to build apartment buildings.

Birriga Road and Benelong Crescent are two addresses where the streetscape has altered significantly. Once lined with modest blue-brick bungalows and two-storey houses (many on large blocks of land), these streets now have a plethora of lavish apartment buildings designed to suit downsizing empty-nesters, professional couples and families with "kippers" (kids in parents' pockets eroding retirement savings).

Prices for the smaller apartments in these buildings start at about $1.5 million, while penthouses cost from $3.2 million to $4.75 million.

Australian Property Monitors data shows 12 Bellevue Hill apartments have sold for between $3.5 million and $4.75 million during the past four years. The highest price of $4.75 million was for a three-bedroom apartment in a Benelong Crescent complex sold in May last year.

3/62 DRUMALBYN ROAD

$3.95 million

House 3 bed, 2 bath, 2 car

Built 2007

Size 231 sq m internal; 120 sq m terrace and parking

Strata levy $1650 a quarter

Inspect Sat, 10-10.45am or by appointment

Agent Ray White Double Bay, 0425 233 488

Last traded First time offered

This state-of-the-art penthouse (below) is over two levels atop a new building designed by architect Andre Porebski.

One of three apartments in the complex, it has a large living area that spills onto a huge terrace with northerly views across the leafy district to the harbour and Manly in the distance.

With direct lift access from the secure garage, the penthouse has open-plan living-dining areas, a guest toilet, laundry and kitchen on its lower level; the bedrooms are upstairs.

The breakfast area and well-equipped kitchen (with CaesarStone benchtops and stainless-steel appliances) also open to the main terrace.

Upstairs are the palatial main bedroom wing (with a sitting area, limestone ensuite and a private terrace with northerly views), two more bedrooms and a main bathroom finished with limestone.

C/98 BIRRIGA ROAD

$3.2 million+

Apartment 3 bed, 3 bath, 2 car

Built 2007-2008

Size 190 sq m internal; 125 sq m terrace and garage

Strata levy $1200 a quarter

Inspect Sat and Wed, 1-1.45pm or by appointment

Agent Christie's Great Estates, 9328 1422

Last traded First time offered

This penthouse passed in at auction for $3.2 million three weeks ago. Atop a low-rise complex, it is one of three apartments completed earlier this year.

Built on a sloping block of land, the building is bigger than it appears from the street as it steps down the site. Spanning two levels, the penthouse has direct access from a double garage and a formal entry through a courtyard garden at the front of the building.

At entry level are the open-plan living-dining area (opening to a north-facing terrace with views to the harbour), a guest toilet, kitchen (with Miele appliances and walk-in pantry) and study.

Upstairs are three bedrooms and three bathrooms.

Other features include a cellar, storage and C-Bus electronic system.

4/31 BENELONG CRESCENT

$2.25 million+

Apartment 3 bed, 2 bath, 2 car

Built 2002

Size 170 sq m internal

Strata levies Administration, $2025 a quarter; sinking fund, $1811 a quarter

Auction September 4

Inspect Sat, 9.15-10am

Agents Raine & Horne Double Bay, 0417 371 522

Last traded First time offered

Not only is this one of the cheapest luxury penthouses for sale in Benelong Crescent, it's also being sold by the mortgagee, who took possession of it from the developer a couple of years ago. Since then the penthouse has been rented for about $1500 a week.

In an excellent position on the low side of the street, the penthouse is one of four apartments in a low-rise building that has a secure basement garage with lift access to each level. One floor above street level, the penthouse has three bedrooms, two bathrooms, a guest toilet-laundry, a kitchen and an open-plan living-dining area that opens to a terrace with views across the golf courses at Rose Bay to the harbour and Manly.

© 2008 Sydney Morning Herald

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