With antitrust regulators declining to weigh in, $1.75 billion deal to marry a tech-focused mortgage lender to real estate brokerage could close by the end of the month.
The man who helped Michael Jordan and Kobe Bryant to sporting immortality has revealed their “most valuable” real estate.
Speaking on the sidelines of AREC, Australasia’s biggest real estate conference, during his first trip Down Under, Tim Grover shared his experiences working with some of the world’s greatest athletes and what made them succeed.
“They realised the most valuable real estate was in between their ears,” Mr Grover said.
Michael Jordan (L) and Scottie Pippen (R) of the Chicago Bulls during the height of their fame in the 1990s. Photo: Vincent Laforet.
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“Who’s renting space up here and shouldn’t be renting space? This is your space for you to occupy. Your behaviours, your emotions, your reactions. If you choose those things, you become disciplined.”
Mr Grover was Jordan and Bryant’s personal trainer and mindset coach for more than 15 years, during their tenures playing for the Chicago Bulls and LA Lakers.
The CEO of Attack Athletics, who continues to coach and mentor athletes and business leaders, said their resilience and “ability to always be in the moment” set them apart from other high performers.
In this file photo taken on November 21, 2015, Kobe Bryant of the Los Angeles Lakers looks on during the Lakers NBA match up with the Toronto Raptors in Los Angeles, California. Photo: Robyn Beck.
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“They never thought about the previous moment or the next moment,” he said.
“They knew there was a price that needed to be paid for winning and they were willing to pay that price. I asked Kobe; ‘What does winning mean to you?’ He said; ‘Winning is everything’.”
It’s advice many real estate agents in the audience appreciated after hearing Mr Grover’s key note speech.
“You can’t have winning without losing,” he said.
“They’re partners.
“When you lose, you don’t get real low, and when you win, you don’t get real high. Don’t celebrate for too long. Winning’s job is to replace you.”
Tim Grover training Michael Jordan in the 1990s during his tenure with the Chicago Bulls.
Mr Grover also had some tips for dealing with rejection — in life or in business.
“Here’s the thing about rejection. You have to master the art of rejection. When you get rejected you’re in no worse spot than you were before.”
He explained that it was important to understand why you fell, so that you could get up quicker next time it happened.
“When you get up, don’t rush to get up, because if you rush to get up you’ll be the exact same individual that fell down.”
He had some tough words for people looking to succeed in property, or generally.
“In business, a lot of people think about success, but they never actually do anything about it,” he said.
Tim Grover, Michael Jordan and Kobe Bryant’s personal trainer and mindset coach, speaking at AREC on the Gold Coast. Image: AREC.
“When you start doing what’s best for you, you’re going to upset a lot of people.
“Stop spending time with individuals you don’t like, doing things you don’t want to do.”
Along with Jordan and Bryant, Grover also coached such legendary names in basketball as Scott Pippen, Charles Barkley, Hakeem Olajuwon, and Dwayne Wade.
The Australasian Real Estate Conference (AREC) also featured speakers such as former Vice President of the United States, Kamala Harris, Diary of a CEO podcast founder, Steven Bartlett, and Real Housewives of Beverly Hills star Mauricio Umansky.
The post Michael Jordan’s, Kobe Bryant’s confidante reveals secret to their success appeared first on realestate.com.au.
New laws coming into effect on July 1 are a warning to NSW homeowners to get their home affairs into order.
There is a tranche of strata laws starting on July 1 in NSW, and then even more later in the year, which are aimed at improving the lives of residents.
It comes at a time when data from UNSW Sydney and the Strata Community Association reveals their growing number to about 17 per cent of NSW residents.
There were 91,346 strata plans across NSW as at 2024, up from 89,049 in 2022. The total number of individual lots grew to 1,077,277, up from 1,043,690 in 2022.
The estimated total insured value of strata plans grew to $486bn, up from $456bn as the number of buildings and the construction cost to replace them increases.
With 55 per cent of all strata plans built before 2000, it means no let up in the pressure on repairs and maintenance for those owners corporations, according to Hazel Easthope, from the City Futures Research Centre at UNSW Sydney.
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The estimated total insured value of strata plans in NSW is $486b.
Prior research put the number of annual call-out jobs at 1.7m, costing $2.5bn. Unfortunately the strata management industry has some dreadful practices. It was highlighted when the ABC reported in May last year that Netstrata, one of the state’s biggest, had been using its wholly owned insurance arm to charge apartment complexes excessively high insurance brokerage fees.
NSW Fair Trading recently issued a 24-page report by McGrath Nicol Advisory into Netstrata that identified possible breaches of the Strata Schemes Management Act 2015, including instances of nondisclosure of commissions received; instances of failing to obtain at least two quotes for expenses exceeding $30,000; and nondisclosure of commissions received from a third-party service debt collection agency, Strategic Collection Services.
The report advised there were other practices not in the best interests of the consumer, including charging a premium to strata plans who did not use Netstrata’s wholly owned insurance broker, Strata Insurance Services (SIS) along with a remuneration structure which incentivised its strata managers to bill for add-on charges.
It found a “highly saturated use of related entity suppliers” with whom Netstrata had a commercial arrangement. “Netstrata’s own interests appear to have trumped the interests of the people it had a duty to act on behalf of,” the Fair Trading commission’s Natasha Mann advised. Netstrata disputes this.
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Numerous questionable strata management practices have been uncovered.
Last month, Minister for Fair Trading Anoulack Chanthivong announced the appointment of Angus Abadee to oversee the strata industry as the NSW Strata and Property Services Commissioner.
Abadee will lead “initiatives to enhance industry integrity and lift consumer confidence” having held senior positions in the Building Commission NSW.
The McGrathNicol review did not consider Netstrata’s actions under the new laws.
The July 1 changes are aimed in part “to protect owners in strata from unfair contract terms and facilitate an uplift of strata management services to improve owners’ confidence”.
NSW Fair Trading advises a meeting needs to be held between the committee and strata manager to allocate and complete the new specific task.
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Sydney Swans verse Western Bulldogs at the MCG IN 2008. Peter ‘Spida’ Everitt makes a spoils from behind.
A former high-profile AFL player and his wife’s love of renovating homes is paying off, with the couple now selling their fifth project.
Peter ‘Spida’ Everitt, who co-hosts the Triple M Gold Coast breakfast show, and wife Sheree have put their Queensland townhouse on the market with a $2.395m price tag.
Radio host and former AFL player Peter ‘Spida’ Everitt and wife Sheree are selling their Sanctuary Cove townhouse at 4799 The Parkway, Sanctuary Cove.
Peter ‘Spida’ Everitt and Sheree Everitt at Gold Coast Suns Club Champion event at The Star Gold Coast.
The townhouse has been completely transformed into a modern coastal abode.
The property, in gated Sanctuary Cove on the Gold Coast, includes four bedrooms, a separate study, an office or nursery, large outdoor dining area surrounded by lush gardens, and a two-car garage.
The couple paid $1.4m for the home in June, 2024.
“It was 17 years old and in need of a renovation when we bought it,” Ms Everitt said.
“So we ripped out quite a few walls and made the living area open plan, redid every part of the house internally and redid the roof.
“We went with really clean lines, beautiful marble benchtops in the kitchen and bathrooms and made it really user friendly.”
The kitchen.
Spida Everitt works in radio. Picture: Supplied
One of the offices.
Ms Everitt said the townhouse was perfect for families or even a couple.
“It’s got multipurpose rooms so you can have two people working from home or you could even convert the office into a big play room or nursery,” she said.
Sanctuary Cove is a resort-style community renowned for its luxury real estate, golf courses and marina.
“The great thing about Sanctuary Cove is there are gates and 24 hour guards so in this day and age with crime, it’s so safe,” Ms Everitt said.
“We’ve been in there almost 16 years.”
The kitchen.
The dining room.
The couple say they have no plans to stop renovating, with their eye already on their next project.
“We’ve just got to sell this one so we can move on but it will be in Sanctuary Cove again,” Ms Everitt said.
Recent projects in Sanctuary Cove included a house at 6009 Olympic Drive, which sold for $2.5m in 2022, and a villa on St Andrews Terrace which sold for $1.1m last year.
The outdoor area.
Their latest townhouse is on the market with Ray White Sanctuary Cove agent Trish Edwards.
“Discover the epitome of luxury living in this newly renovated multi level duplex, perfectly situated in the exclusive Sanctuary Cove,” the listing states.
PropTrack data reveals the median unit price in Hope Island, which includes Sanctuary Cove, is $875,000, up 8 per cent over 12 months.
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The home at 48 Victoria St, North Ward. Picture: Supplied
A landmark residence on Castle Hill has sold for an undisclosed amount, believed to be the highest price paid for a home in Townsville this year and the second highest on record.
The six-bedroom mansion at 48 Victoria St, North Ward, was listed for sale last month for offers over $5.5m.
Selling agent Janice Gallagher, of Janice Gallagher Real Estate, said a local family snapped up the property within a week of it hitting the market.
“It sold pretty much immediately,” she said.
“And there were three or four other groups wanting to buy it, too.”
The property last sold in 2022 for $4.5m, making it the second most expensive home sale in Townsville at the time, alongside the $4.5m sale of 6 Palm St, Rowes Bay, in 2021.
The most expensive house to sell in Townsville was 32 Stirling St, Castle Hill, which changed hands for $6m in October 2020.
The luxury home looks out to stunning ocean views. Picture: Supplied
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Ms Gallagher said the “immaculate” home at 48 Victoria St attracted strong interest from buyers as well as the general public.
“I would say it is the best house in Townsville,” she said.
“It is immaculate – you don’t have to do anything to it.
“There’s nothing not to love in that house and everything is on a grand scale.”
The prestige property sits on a 1530 sqm block and has 1400 sqm under roof across four levels.
The home features wraparound ocean views, custom cabinetry, natural stone, travertine tiling and a resort style swimming pool.
The home has luxury fittings and fixtures throughout. Picture: Supplied
The Victoria St sale was the latest in a string of multimillion-dollar deals in the Townsville property market this year.
The historic home at 352 Stanley St, North Ward, sold for $3.25m in March, 48 Yarrawonga Drive, Castle Hill, sold for $2.85m in February, 1 Edinburgh Ct, Castle Hill, sold for $2.65m in May and 27A Carter St, North Ward, sold for $2.5m in April.
Ms Gallagher said demand in Townsville’s prestige market had been strong in the last few months, though supply was tight.
“(The sale of 48 Victoria St) shows the Townsville market is very buoyant and people have confidence in the city,” she said.
The post House high on the hill hits sales jackpot appeared first on realestate.com.au.
The cost of living is fuelling interest in larger homes, with adult children who are unable to afford to live alone moving back in with their parents.
LJ Hooker selling agent Shaun Roberts said he was having no trouble selling homes with five bedrooms or more, with more families interested in multigenerational living to bring their individual household expenses down.
“With the costs of living, it (interest in large homes) is definitely something that is increasing,’’ Mr Roberts said.
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The Wynn Vale home at 1 Napier Court has seven bedrooms.
The home also has two kitchens.
The bedrooms are split over two levels.
“If people (families) can all live under one roof that can help with finances, absolutely.’’
He said there had been strong interest in a seven-bedroom, four-bathroom home he has listed at Wynn Vale, which is due to be auctioned later this month.
As well as those seeking to live with their adult children, there was also interest from buyers who were caring, or planning to care, for ageing parents at home, he said.
With house prices soaring, Harris Real Estate selling agent Arabella Hooper said some parents and adult children recognised they could only afford to buy a better-quality home if they sold their existing, separate dwellings and pooled their finances.
In other instances, selling two existing homes and buying one larger residence also provided leftover funds that could be used to pay off debt, she said.
The Hahndorf property at 109 Echunga Rd has eight bedrooms.
There are four bedrooms in the main house and four more in a cottage on the property.
The residences are on a sprawling 15.68ha property.
“There are definitely some (multigenerational families) who see (buying a larger home and living together) as a way to get out of debt or to live more comfortably (by sharing living expenses),’’ she said.
“People are combining and conquering in terms of their assets pool.’’
Ms Hooper said adult children also recognised the benefits – both financial and otherwise – of having grandparents at home to look after young offspring rather than use childcare.
Money aside, she said the Covid pandemic had prompted a greater desire to be closer to family.
Ms Hooper, whose current listings include an eight-bedroom home at Hahndorf and a six-bedroom home at Mylor, as well as Manoah House, a sprawling 28-bedroom estate in Upper Sturt, said buying properties with numerous sleeping quarters, especially when spread over multiple dwellings, provided an attractive rental income stream.
The Mylor home at 762 Strathalbyn Rd has six bedrooms.
The bedrooms overlook lavish gardens.
The Upper Sturt property at 9 Manoah Drive has 28 bedrooms.
The property includes a stone manor with stables, two renovated Airbnb cottages, and six tenanted home units.
“There are more people (buying properties) that are thinking about income production through Airbnbs and things like that,’’ she said.
“Especially when it’s two houses like that one on Echunga Road (at Hahndorf, which has a four-bedroom home and a separate four-bedroom cottage) – people will look at that for its ability to also produce an income.’’
– by Lauren Ahwan
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Bold move to kickstart VIC’s ailing construction sector. Picture: Supplied
Melbourne home builders are offering discount home loans and prices not seen since before the pandemic in a move to kickstart Victoria’s ailing construction sector.
But while offers have ballooned in the past month, the builders have issued a stark warning that housing costs will rise within the year.
While the Victorian government’s big build projects continue to drive up the cost of trades like electricians and plumbers, some of the state’s biggest builders are reworking home designs and scrapping luxury fixtures in a back-to-basics bid to bring housing construction prices under $200,000 — less than half the state’s $505,000 average build cost.
Metricon’s building operations general manager Peter Temopoulos said while most material costs had been fairly steady in the past year, and timber frames were “back to historic levels”, there were some outliers.
“Right now we are still seeing pressure with plumbing and electrical trades,” Mr Temopoulos said.
For these trades, he said housing construction was competing with the state’s big build projects, making wage escalation hard to avoid.
He added that minimum seven-star energy efficiency standards had also added about $15,000-$20,000 to the cost of most house builds in the past year.
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One of the home designs being discounted by Metricon.
Despite this, the builder is currently offering a first-home buyer-centric build with a $183,000 price tag, while discounting other designs by anywhere from $20,000-$60,000.
“If that’s not cheaper than a few years ago, it will certainly be on par,” Mr Temopoulos said.
However, he said this would not last.
“Come next year, houses will be more expensive in our industry, so the time is now,” he said.
Sherridon Homes are currently offering home builds at $169,700, with a goal to get house and land packages down as low as $500,000.
ABH Group chief executive Pasquale Garofalo said as the industry had come down from a Covid high that tested its limits and drove up prices, less hectic conditions today had allowed them to find better efficiencies to reduce prices.
“It took a lot of looking at our suppliers and that needed to level off a bit (after Covid), but now you can talk to the supply chain more easily,” Mr Garofalo said.
“It would have been very difficult previously to get everyone aligned as we have, and it wouldn’t have been anywhere near this level had we tried it sooner.
ABH Group chief executive Pasquale Garofalo.
The Essence range homes being offered by Sherridon Homes at prices less than half Victoria’s more than $500,000 average build cost.
Home design revisions for the Sherridon Homes properties under the Essence banner included making them slightly smaller, looking at wall and roof designs, and offering basic builds with laminate surfaces in place of more expensive stone ones.
“It’s a bit back to the 80s,” Mr Garofalo said.
The redesign also sets the builds up for more use of modular building materials, meaning that they could potentially become more affordable in time.
Mr Garofalo said this was their lowest priced offering since before the pandemic, but had only been available for about four weeks.
Major building group Burbank and YourLand Developments have also just begun to offer a 3.49 per cent variable interest rate via National Pacific Finance — far below the 6.17 per cent standard variable rate today.
It would save borrowers purchasing select designs in specified estates about $24,000 across its two-year timeline on a $750,000 loan — the maximum they will back.
Burbank’s sales and marketing general manager Anthony Garrubba said while it was unlikely building costs or land prices would fall, they believed it was possible to make building new homes more appealing by using a lower mortgage rate.
“The big problem isn’t demand, it really feeds back to serviceability,” Mr Garrubba said.
“This is the cheapest home loan rate in the country … but the nicest part of it, is that it works. We have had a customer take it up within the first nine days of it coming up.”
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The number of Australian millionaires has exploded in just the last 10 years. This is how and why.
Australian property has proven itself to be one of the most successful ways to build wealth for generations.
A new report reveals more than four in 10 homes across the combined capital cities now have a median value of $1 million or more. To be exact, a record 41.6 per cent of capital city homes are worth $1 million-plus, up from 14.3 per cent only ten years ago. In regional Australia, almost one in five homes are now worth $1 million-plus, up from 0.5 per cent a decade ago.
The data busts the perception that Sydney is Australia’s only wealthy market. But of course, Sydney does have the biggest portion of homes at this price level, at just under 65 per cent of stock.
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A record 41.6 per cent of capital city homes are worth $1 million-plus. Picture: Sarah Matray
As the report points out, just 10 years ago only houses with five or more bedrooms had a median value over $1 million in Greater Sydney. Now, the median value for all types of houses is over $1 million. It’s $1.3 million for three bedroom houses and $2 million for five bedroom houses.
After a stellar run since the pandemic, home values in Brisbane have grown to such an extent that 40.2 per cent of the city’s homes are now worth $1 million or more. This is up from just 6.2 per cent five years ago and 2.8 per cent a decade ago.
South-East Queensland is undoubtedly the most prized destination of choice for interstate migrants who can work from home. People have flocked to the Sunshine State from all over the country since 2020 for the warmer weather, relaxed lifestyle and greater affordability. Brisbane, the Gold Coast, and the Sunshine Coast have been especially popular with interstate migrants and investors, too.
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OIn regional Australia, almost one in five homes are now worth $1 million-plus.
In terms of the Gold Coast, I’ve noticed much activity locally as Queensland prepares to host the 2032 Olympic and Paralympic Games. Major new investment in roads, sporting facilities and transport is revitalising many residential suburban areas, creating more attractive and valuable neighbourhoods to live in with legacy benefits for the locals to enjoy for decades to come.
In terms of the other East Coast capital cities, 30.9 per cent of homes in Melbourne are worth $1 million or more, and in Hobart, it’s 11.9 per cent.
Canberra was not included in the data. The rising number of Australian homes worth $1 million or more reflects the prosperity of our nation. It also reflects a strong continuing cultural belief that home ownership is a worthy lifetime aspiration, and a cornerstone financial asset for a comfortable retirement.
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But we can’t ignore the downside of having one of the world’s most high-value markets. Affordability is a big challenge for younger generations, which is why it’s so important to research all the state and federal government help available to help you buy a home sooner.
Last week’s second interest rate cut for 2025 has likely improved your borrowing capacity, too.
With economists tipping more cuts ahead, it’s a good time to talk to a mortgage broker.
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Make sure you get your finances in order before you approach the bank.
Want to know how much you can borrow? While income and deposit size are crucial factors in any home loan application, there are also a range of “liabilities” that lenders take into account when assessing how much they will lend to you.
COSTS THAT DRAIN YOUR BUCKET
Mortgage broker and founder of Two Red Shoes Rebecca Jarrett-Dalton says it’s helpful to think of it like “a big bucket of money.”
Not only do banks deduct tax as well as regular living expenses, generally using the HEM index, they also consider a whole range of other additional expenses, or liabilities, depending on your lifestyle and financial situation.
These include credit card limits, any kind of repayment, including car loans and personal loans, HECS debts, private health and life insurance costs, private school fees, and in some cases, Strata fees.
Think of it like a big bucket of money.
“Whatever is left is broken down into a monthly figure,” she says. “Everything that is not an average living expense has an impact.”
And the impact can be quite substantial.
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“Every $10,000 of credit card limit is about a $50,000 reduction in your borrowing capacity,” she says, explaining that any type of repayment could shrivel your borrowing power.
“If we think about every kind of repayment, a credit card they take 3.8 per cent, so $10,000 is $380.”
“Every $380 worth of repayments, whether they be loan repayments, whether they be HECS repayments, whatever they are, is a $50,000 additional reduction.
“So if you think of an average car loan sitting close to $1000, that’s three times – that’s $150,000.”
Two Red Shoes founder and broker Rebecca Jarrett-Dalton.
Novated leases are even more costly, she says.
“The banks can’t separate out what is the finance component and what are the general running costs so they have a huge impact on your borrowing capacity,” she says. “Essentially in your average living expenses they take out an average running cost of the vehicle as well as it coming out in the actual repayment.”
If Strata costs aren’t included in the HEM index used by the bank, they are generally assessed using the $380 worth of repayments method, meaning “if your Strata is $1000 a month it’s about a $120,000-$130,000 reduction.”
Paying down your existing debts will help your borrowing capacity. Picture: iStock
WAYS TO HELP YOUR APPLICATION
You may not be able to compromise on costs like health insurance, Strata or private school fees, but you can improve your borrowing capacity by paying down existing debts.
Canstar’s data insights director Sally Tindall says reducing credit card limits also goes a long way since banks “have to assume the worst – that you’ve maxed out your card” when they assess your expenses.
“Credit cards have the capacity to burn a giant hole in your maximum borrowing capacity, even if you don’t owe a single cent on the card,” she says.
Tindall says aiming for a lower rate can also help since lenders add a three per cent buffer during the assessment process.
Canstar’s data insights director Sally Tindall. Picture: Tim Hunter
“For example, someone applying for a mortgage, on the average wage as a single borrower on a rate of 5.50 per cent instead of 6 per cent, could see their maximum borrowing capacity rise by around $24,000,” she says.
But she says it’s important to leave some financial breathing room when taking on a mortgage.
“Just because your bank says it’s OK to borrow up to a certain amount, this doesn’t automatically mean you should,” she says. “A home loan can be for up to 30 years – that’s a long time to be saddled with debt that you have trouble managing day-to-day.”
Credit cards are assessed on their limit, not on the amount you spend each month.
APPLICATION TIPS
The best way to improve your borrowing capacity is to increase your income and pay down your debts – just remember that a mortgage is a big commitment and borrowing to your maximum limit is never recommended. Canstar’s data insights director Sally Tindall shares some ways to strengthen your home loan application.
1. Increase your income – even a $5000 pay rise on the average wage could improve a single person’s borrowing capacity by more than $30,000
2. Shop for a lower rate – a single person applying with an average wage on a rate of 5.50 per cent instead of 6 per cent could see their maximum borrowing capacity rise by about $24,000
3. Save more – a larger deposit could mean you’ll need to borrow less and potentially avoid LMI
4. Cut up credit cards – cancel excess credit cards and reduce excessive limits remembering that a $10,000 limit will reduce your borrowing power by about $50,000
5. Pay down debts – Any debt is a liability that will reduce what you can borrow
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The post Expenses that affect your borrowing power for a home loan appeared first on realestate.com.au.
No.35 Valley St, West Hobart. Picture: Supplied
From their elevated position, these two modern homes take in an incredible 180-degree view across Hobart’s twinkling lights to the river and beyond.
That’s right, not one, but two.
The owners of both homes at No.35 Valley St have listed them for sale, either separately or together.
View Hobart chief executive Adrian Kelly said the houses were built in 2006 and expertly updated more recently by the current owners.
“You can see their eye for detail throughout the home and in particular in the exquisite bathrooms,” he said.
“They are brand new, sparkling, absolutely gorgeous.
“The top floor of No.2 is an amazing space featuring a large bedroom with a raked ceiling. The walk-through wardrobe is a huge dressing room, and the ensuite has a sophisticated double vanity, double shower and a eggshell freestanding bathtub that makes a statement.
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No.35 Valley St, West Hobart.
No.35 Valley St, West Hobart.
No.35 Valley St, West Hobart.
“Behind No.1 there is another fantastic bath, this time positioned on the upper level deck, just off the main bedroom.
“The area is covered. You can sit in the bath, taking in Hobart city views and no one will know you are there.
“The views from both homes are incredible.
“And there are good schools nearby, the Hill St Grocer, and North Hobart’s restaurant and retail strip is just down the street — it’s a great spot.”
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No.35 Valley St, West Hobart.
No.35 Valley St, West Hobart.
No.35 is well positioned in one of Hobart’s most prestigious city-fringe locations.
Set in a peaceful, leafy street, each property boasts its own private entrance and stylish design.
The homes have been meticulously renovated to blend character and charm with contemporary comfort.
No.2 is a family-sized home with four bedrooms and two bathrooms, including the master that privately occupies the top floor.
It has a spacious open-plan living and dining area, complemented by a contemporary kitchen fitted with premium European appliances.
This floor has two bedrooms, one with an appealing loft space.
A versatile multipurpose room with underfloor heating adds flexibility, and would be suitable for use as a fourth bedroom if desired, or perhaps a rumpus room, or home office.
No.35 Valley St, West Hobart.
No.35 Valley St, West Hobart.
Outdoor entertaining is well-catered for with a private rear deck and a front deck designed to maximise the panoramic vistas.
The property’s practicality extends to the lower level, which includes a secure double garage with ample storage space.
An extra large storage area under the house provides room for bikes, sporting equipment, or household items.
No.1’s middle level features an open-plan living and dining area, complemented by a designer kitchen with quality appliances.
A sheltered barbecue deck with outdoor heating extends the entertaining space, making it suitable for year-round use.
The home has three bedrooms, including a master bedroom that opens to a private, sun-drenched deck.
No.35 Valley St, West Hobart.
No.35 Valley St, West Hobart.
Upstairs, the home offers versatility with a dedicated study area, spacious bedrooms, and a modern bathroom with heated floors.
There is a lockup garage, off-street parking, and a workshop/storage space.
Currently operating as The Hill Townhouse, the property has proven its worth in the short-term accommodation market, generating about $70,000 in income over the past year, despite being reserved for family and friends stays for over two months of the year.
The property is offered with the option of a “walk-in, walk-out” sale, including existing bookings, branding, and furniture.
No.35 Valley St, West Hobart.
No.35 Valley St, West Hobart.
For buyers seeking an idyllic dual-living arrangement, a lucrative investment, or the ideal scenario of residing in one home while effortlessly managing a successful short-term accommodation from the other, this unique package offers flexibility and potential.
“The owners have enjoyed their time living here. It has been a wonderful place to entertain family and friends. But they are ready for their next chapter,” Mr Kelly said.
“The buyer of these properties might be professional couples, or perhaps middle-sized families, it’s only the driveway that is common property.
“If someone wanted to buy both, they could turn the property into a big family home or keep doing what the current owners have, which is to live in one while earning an income from the other.”
No.35 Valley St, West Hobart.
No.35 Valley St, West Hobart.
No.35 Valley St, West Hobart is priced at $1m-plus for house one, and $1.2m-plus for house two.
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