The Block winners go all in on $5m gamble
Celebrity renovators Kyal and Kara Demmrich have rolled the dice on a shot at a $5m payday.
Celebrity renovators Kyal and Kara Demmrich have built a duplex in Long Jetty and are now selling them both at June auction.
Carpenter Kyal and designer Kara filmed the construction of the side-by-side coastal homes in a series on YouTube called Bay Builds.
They have been listed through McGrath Terrigal agent Trevor Hamilton, with McGrath boss John McGrath auctioning the properties on June 29.
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Both 1/89a Eloora Rd and 2/89b Eloora Rd, come with a $2.5m auction guide – well above the three-bedroom $1,025,000 suburb median price calculated by PropTrack.
They were built 500 metres from Blue Bay Beach during 2023 to 2024 with Rams construction loan financing.
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It took over a year to secure development approval from Central Coast Council, highlighting the concerns being regularly raised by Planning Minister Paul Scully about construction delays.
They bought during Covid restrictions in 2021 for $1,310,000.
There is 302sq m internal living space on each of its 348sq m blocks.
House 1 has three bedrooms and three bathrooms plus a wine room and a long pool and spa.
House 2 has three bedrooms, three bathrooms, a wine room, a media room and a circular pool.
“But each has its own unique style interior,” Ms Demmrich said.
“House 1 is light, bright and French-inspired; House 2 is warm, moody and has a coastal villa feel.
“Both homes boast luxurious resort-style living with our signature coastal look,” she said.
Since coming third on the Nine Network’s series The Block: Fans v Faves in 2014, and taking home a profit of $567,250 in prize money, they have been involved in dozens of projects.
Their first renovation project after The Block was a four-bedroom property at Killarney Vale in 2015. It sold for $735,000, having been bought for $285,000 in 2008.
In 2018 the couple flipped a property at 82 Pacific St, Long Jetty, which sold for $1.59m, having bought the “asbestos shack” for $710,000 earlier that year.
“We hear a lot of horror stories, but it’s often the smaller jobs where people run into trouble,” they recently noted.
“Many fall into the trap of assuming they can do everything themselves.
“It’s interesting to see the hipages research say Aussies are most likely to make DIY mistakes in the bathroom,” they added.
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Originally published as The Block winners go all in on $5m gamble
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