Latest news with #CentralElement
News.com.au
29-07-2025
- Business
- News.com.au
New earlybird downsizer trend: ‘We have more money and time'
Natalie and Costa Mina always assumed they would downsize eventually, but they didn't expect it to happen so soon. With both of their sons studying overseas, the couple found themselves alone in a large house in Riverview. Curious about the market, they began exploring options and were instantly drawn to the AURA by Aqualand development in North Sydney. They quickly listed their family home and made the move into a new two-bedroom apartment. 'It feels a bit like we're in a resort on holiday living here,' says Natalie, 51. 'The finishings are beautiful and it has a concierge, a 25m pool, a spa, a really well-equipped gym, a rooftop terrace and function spaces you can book out if you want to have a party. 'We have quite a large living space – our dining table seats 12 people and the couch up to eight. 'We have also taken friends up to the community room and there's a big TV projector screen that you can stream on and a pool table.' While their new apartment doesn't offer much space for their sons when they return, the decision to downsize has provided greater financial flexibility – enabling them to help with rent and invest more in activities they enjoy. 'We kind of feel like we are back in the early days of our relationship before having kids,' Natalie says. 'One of the things that goes when you move from a house to an apartment is a lot of the maintenance, so we have more money and time for the things that we used to do. 'We spend it going out and making the most of the Lower North Shore lifestyle.' The Minas are part of a growing trend. Increasingly, financially secure Australians are leaving behind freestanding homes in favour of premium apartments in prime locations that suit their evolving lifestyle needs. Cameron Porter, head of sales at luxury boutique developer Central Element, says 90 per cent of buyers on the Lower North Shore are downsizers. Most are seeking to stay close to family, friends and shops, but still want spacious homes and luxury amenities. 'The mainstream dream of having a quarter-acre block is switching to more vertical living,' he says. 'But a lot of downsizers don't want to be in towers; they want small blocks.' He says developments like Pienza Neutral Bay Village – which offers a wellness centre, gym and rooftop pool – have been especially popular with the demographic. 'The beautiful thing about these guys is it's like that movie Cocoon – they have this real zest for life,' he says. 'They love health and wellbeing, they have a passion to do volunteer work for charities. They're doing a lot of travel so they're security conscious, so having a building manager and concierge is critical.' In the eastern suburbs, demand from downsizers is just as strong. Porter sold an apartment at Central Element's Ballamac House development in Coogee for a record $20m to empty nesters relocating from a house in Bondi in April. Ray White Double Bay sales executive Adam Reichman recently sold the Point Piper mansion of Retail Apparel Group co-founder Stephen Liebowitz and his wife Pam, who went on to buy an off-the-plan penthouse in the luxury Ode building in Double Bay for $24.9m. 'Downsizers are really looking for high-end luxury apartments,' Reichman says. 'Lift access is important to them, as well as a great aspect, a good fitout and fantastic appliances.' He also says that people are starting to think about downsizing earlier than they used to. Debbie Scott is one of them. After clearing out her mother's belongings following her passing last year, and watching friends go through rushed moves, the 59-year-old decided to get ahead of the curve. She and her 63-year-old husband Mike have bought a three-bedroom apartment off-the-plan in the upmarket The Residences at Wahroonga. With two years until completion, they have ample time to declutter from their five-bedroom family home in West Pymble, where they raised four children. 'I just think it's time for the next chapter and I don't want to be forced into the decision where we have to move if one of us gets sick,' Debbie says. 'We decided to do it while we are younger rather than waiting until you're older and you don't want to move. It also gives us time to get ourselves organised.' Research by the developer behind The Residences, Capital Corporation, found that 59 per cent of downsizers in NSW wanted to relocate within 20km of their current home, and 64 per cent were doing so to reduce home maintenance. The Scotts were also drawn to the development's leafy setting – overlooking a national park – and its modest scale. 'It's only five levels so that was appealing to us – it wasn't a huge high-rise,' Debbie says. 'They have a communal barbecue area so if we want to have all the family over there's areas where we can entertain.' The couple has customised the floorplan to convert the third bedroom into a study, supporting their home-based business. Financial planning was another motivator. Australians aged 55 or older can contribute up to $300,000 – or $600,000 per couple – from the sale of their home into their superannuation fund. The eligibility age has steadily dropped over time: from 65 in 2018 to 60 in 2023, and now 55. 'We wanted to have a bit of money behind us for retirement,' Debbie says. That incentive was also a factor for lawyer Scott Laycock and his publicist wife Clare. The couple recently sold their four-bedroom North Randwick home and moved into a three-bedroom apartment at Munro House in Elizabeth Bay. 'The decluttering process was really cathartic,' says Laycock, 60. 'In the apartment everything has its place.' While he admires the charm of Elizabeth Bay's Art Deco buildings, he wanted a newer property that wouldn't require constant maintenance. Downsizing also allowed them to help their daughters financially and to travel, including a recent European trip to celebrate the couple's 30th wedding anniversary and Clare's 60th birthday. But it's not just retirees making the shift. Many families are also increasingly favouring large apartments over houses. Tim Abbott, director of projects and developments at Ray White Lower North Shore, says the new Willoughby Grounds development, which is scheduled for completion in spring, has large floorplans and even a children's playground that appeals to the market. Abbott believes government planning legislation needs to evolve to require more three- and four-bedroom apartments suited to families. 'The larger apartments are definitely striking a chord with downsizers at Willoughby Grounds,' he says. 'The living spaces and kitchen are much bigger than a lot of the other apartments we have sold, there's a lot of storage and the levies are very reasonable. 'For many buyers, it's just to simplify their lives and free up some time to do things that are more enjoyable than maintaining a house.'
7NEWS
29-07-2025
- Business
- 7NEWS
What $30 million can buy in Bondi
Bondi's luxury property market is on the verge of a new breaking a new suburb record, with the anticipated release of the Pearl Penthouse by Central Element, priced at $30 million. If achieved, this sale will break the existing suburb record of $24 million set in 2022 and cement the Pearl Penthouse as the most prestigious and expensive residence ever sold in Bondi. Central Element, one of Sydney's leading developer-builders, has revealed its plans for the Pearl Bondi project, a $150 million coastal development located on Sandridge Street between Bondi and Tamarama. The development includes seven residences in total, but the centrepiece is the Pearl Penthouse - a 328 square metre, four-bedroom apartment with 3.5 bathrooms and an uninterrupted 17-metre ocean-facing frontage. Designed as the ultimate expression of luxury coastal living, the property promises panoramic views and a level of exclusivity unmatched in the suburb. This is not the first time Central Element has set new standards in Sydney's eastern suburbs. In April 2024, the company broke Coogee's price record with the $20 million off-market sale of its Ballamac House penthouse, a three-bedroom apartment that showcased the firm's commitment to architecturally led, boutique coastal developments. Pearl Bondi is being positioned as a "legacy project," with each of the five apartments and two Torrens titled homes designed to elevate the expectations of coastal luxury. Architecture firm MHNDU has been tasked with maximising the site's position along the Bondi to Bronte coastal walk, while landscape designers Dangar Barin Smith are contributing nearly 500 square metres of lush green space. Interiors are being delivered by Madeleine Blanchfield Architects, who have embraced a natural, timeless aesthetic that ties the project deeply to its seaside surroundings. To sell what is anticipated to become Sydney's most exclusive beachfront address, Central Element has assembled a powerhouse team of agents with deep expertise in Bondi's prestige market. Alexander Phillips of PPD Real Estate, widely regarded as one of Australia's top luxury property agents, leads the charge. Phillips is known for breaking national records, including the $11 million sale of a one-bedroom apartment on Notts Avenue, which set the highest price-per-square-metre in the country. Joining him are Alex Lyons and Ric Serrao from Raine & Horne Double Bay & Bondi Beach, both of whom have led some of Bondi's most remarkable sales, including a $10 million deal for a knockdown on Ben Buckler and an eye-watering result for a studio that more than doubled its price guide. Eddie Mansour from Ray White Projects brings further expertise in off-the-plan prestige sales, having closed the $22 million deal for the AYA Penthouse on Hall Street, which remains Bondi's largest single-level apartment. Central Element Managing Director Nathan Chivas describes the Pearl Penthouse as the crown jewel of the development and a statement of intent for the suburb. "We've brought together a team of acclaimed local design talent who understand Bondi intimately and share our passion for crafting something extraordinary that honours its setting. At its heart is the Pearl Penthouse, the most luxurious and prestigious offering the suburb has ever seen. "Every element - from the 17metre frontage to the timeless interiors - has been crafted to create a sanctuary that connects deeply with Bondi's coastal energy. It's a hidden treasure revealed only to a privileged few and we expect demand for the Pearl Penthouse to reflect the rarity of what's on offer." The Pearl Bondi development will launch to market in early August 2025 by appointment only, with construction scheduled to commence in the final quarter of the year.
Daily Telegraph
28-07-2025
- Business
- Daily Telegraph
Penthouse shoots for Sydney coastal suburbs record
It has been billed as the most exclusive and prestigious offering Bondi has ever seen, perched on the oceanfront and connected to the coastline. Meet Pearl Bondi the $150m project just approved for Bondi's peninsula cliffside with north-east aspect, elevation and comprising a clutch of seven luxury homes aimed at established eastern suburbs families and downsizers. And Pearl's creator, top Sydney builder developer Central Element is set to rewrite Bondi's property history with the highly anticipated release of the Pearl Penthouse – the pinnacle of the project. Set to become the coastal suburbs most exclusive and high-end residence to date, with an asking price of $30m, the ultra-luxurious apartment is expected to smash the suburb record. The previous record was $24m in 2022, for Multiplex heir Andrew Roberts' 190sqm apartment in Notts Ave, Bondi Beach. The price equated to $126,000 per sqm. MORE: Waterfront deal falls over, then sells for $2m less The 328sqm penthouse offers four bedrooms, 3.5 bathrooms and a 17m east-facing frontage with uninterrupted ocean views. Central Element managing director Nathan Chivas expects Pearl to be popular. 'At its heart is the Pearl Penthouse, the most luxurious and prestigious offering the suburb has ever seen,' Mr Chivas said. 'Every element – from the 17‑metre frontage to the timeless interiors – has been crafted to create a sanctuary that connects deeply with Bondi's coastal energy. 'It's a hidden treasure revealed only to a privileged few and we expect demand for the Pearl Penthouse to reflect the rarity of what's on offer.' Central Element has gathered talented architects, landscapers and interior designers to create Pearl Bondi, which consists of two houses fronting Sandridge St and five apartments cascading towards the coastline with access to Wilga St. Three apartments are whole-floor residences with expansive terraces while the two ground floor apartments will each have a private pool. The Torrens-title houses will also have their own private plunge pools, outdoor entertaining space and wide ocean views. One has, facing north has a traditional layout with bedrooms upstairs while the southern house has the upper level dedicated to living and dining with two balconies capturing the view. The ultra-luxury project has been designed by award-winning architects MHNDU and the homes will share almost 500sqm of landscaped communal space as well as having their own external areas – up to 86sqm. The site is more than 2000sqm in a tightly-held pocket between Bondi and Tamarama with direct access to the coastal walk. Madeleine Blanchfield, of Madeleine Blanchfield Architects, has been engaged to design the interiors of the seven homes. She is well-known and highly sought after in the Eastern suburbs. 'Our design approach for Pearl will be centred on quiet luxury and refined simplicity – using natural materials, light and texture to create homes that feel timeless, grounded and intimately connected to their coastal surrounds,' she said. Materials such as travertine, American oak, Patagonia Pink quartzite and brushed stainless steel are all on the Pearl palette. Kitchens have stone island benches and Sub-Zero and Wolf appliances are included. Construction on Pearl Bondi will begin in the spring of this year and completion is planned for late 2027. Central Element has already broken suburb records in Sydney's east. Last year in Coogee it made a $20m off-market sale for a three-bedroom penthouse at Ballamac House.
News.com.au
28-07-2025
- Business
- News.com.au
Penthouse shoots for Sydney coastal suburbs record
It has been billed as the most exclusive and prestigious offering Bondi has ever seen, perched on the oceanfront and connected to the coastline. Meet Pearl Bondi the $150m project just approved for Bondi's peninsula cliffside with north-east aspect, elevation and comprising a clutch of seven luxury homes aimed at established eastern suburbs families and downsizers. And Pearl's creator, top Sydney builder developer Central Element is set to rewrite Bondi's property history with the highly anticipated release of the Pearl Penthouse – the pinnacle of the project. Set to become the coastal suburbs most exclusive and high-end residence to date, with an asking price of $30m, the ultra-luxurious apartment is expected to smash the suburb record. The previous record was $24m in 2022, for Multiplex heir Andrew Roberts' 190sqm apartment in Notts Ave, Bondi Beach. The price equated to $126,000 per sqm. The 328sqm penthouse offers four bedrooms, 3.5 bathrooms and a 17m east-facing frontage with uninterrupted ocean views. Central Element managing director Nathan Chivas expects Pearl to be popular. 'At its heart is the Pearl Penthouse, the most luxurious and prestigious offering the suburb has ever seen,' Mr Chivas said. 'Every element – from the 17â€'metre frontage to the timeless interiors – has been crafted to create a sanctuary that connects deeply with Bondi's coastal energy. 'It's a hidden treasure revealed only to a privileged few and we expect demand for the Pearl Penthouse to reflect the rarity of what's on offer.' Central Element has gathered talented architects, landscapers and interior designers to create Pearl Bondi, which consists of two houses fronting Sandridge St and five apartments cascading towards the coastline with access to Wilga St. Three apartments are whole-floor residences with expansive terraces while the two ground floor apartments will each have a private pool. The Torrens-title houses will also have their own private plunge pools, outdoor entertaining space and wide ocean views. One has, facing north has a traditional layout with bedrooms upstairs while the southern house has the upper level dedicated to living and dining with two balconies capturing the view. The ultra-luxury project has been designed by award-winning architects MHNDU and the homes will share almost 500sqm of landscaped communal space as well as having their own external areas – up to 86sqm. The site is more than 2000sqm in a tightly-held pocket between Bondi and Tamarama with direct access to the coastal walk. Madeleine Blanchfield, of Madeleine Blanchfield Architects, has been engaged to design the interiors of the seven homes. She is well-known and highly sought after in the Eastern suburbs. 'Our design approach for Pearl will be centred on quiet luxury and refined simplicity – using natural materials, light and texture to create homes that feel timeless, grounded and intimately connected to their coastal surrounds,' she said. Materials such as travertine, American oak, Patagonia Pink quartzite and brushed stainless steel are all on the Pearl palette. Kitchens have stone island benches and Sub-Zero and Wolf appliances are included. Construction on Pearl Bondi will begin in the spring of this year and completion is planned for late 2027. Central Element has already broken suburb records in Sydney's east. Last year in Coogee it made a $20m off-market sale for a three-bedroom penthouse at Ballamac House.
