Mega $150m-plus development in affluent Vaucluse
On a hilltop, an ambitious developer reconstructs a large site into four luxury houses.
The Hillside estate in Vaucluse is being crafted into a $150m-plus development comprising four houses in one of the most ambitious projects ever seen in the prestigious Sydney suburb.
Construction work by Lords Group has commenced for developer Moshav Financial at the 2586sq m site, with anticipated completion in late 2025. Demolition has been completed but there is, as yet, no cranes on the site that will look over historic Kincoppal to the CBD skyline.
The homes have been designed for the hillside site by acclaimed architect Luigi Rosselli with interiors to be installed by Handelsmann+Khaw.
Prices will start at $25m for the luxury residences with terracotta facades that will sit under copper-clad roofs in gardens landscaped by Dangar Barin Smith.
There will be two semi-detached residences, Cielo and Luce, meaning sky and light in Italian, each with four bedrooms.
The two freestanding properties, Terreno, and Mare, meaning earth and sea, will be six-bedroom homes. They will feature luxury finishes including forged steel spiral staircases and temperature-controlled cellars, plus swimming pools and basement garages with lift access.
The ambitious project could sell in one line as a family compound or separately.
Ray White Projects’ Eddie Mansour is marketing them for Tal Silberman’s Moshav Financial as located in “a private pocket that overlooks the glittering city”.
“Everything about Hillside is unrivalled, and this project will be ideal for those who seek the comforts of a resort lifestyle at home, and who appreciate the finer details of these houses both inside and out,” Mansour says. “We anticipate we will receive strong interest from high net worth Australians, particularly global business owners and esteemed executives – demographics of who have already expressed an early interest. ”
The cul-de-sac site was consolidated in 2018 at a $32m cost. Hillside Ave has seen freestanding house sales of up to $35m, when Hong Kong arts patron Yang Yang sold her home.
“Seeing Hillside reminded me of my holidays in Italy,” Rosselli says. “My two preferred components of the project is the natural aspect of the materials we use, the palette of material … and the natural flow from inside to outside.”
All three names – Rosselli, Dangar Barin Smith and Handelsmann+Khaw – were ranked on this year’s VL50: Vogue Living’s Best Australian architects and designers of 2024.
Interior designer Tania Handelsmann expects to deliver “interiors that marry the contemporary with the timeless” with materials that are warm and tactile.
“We’ve sought to bring the project vision into every detail of the interior design, to create a polished yet accessible brand of heritage-informed elegance, with cleverly curated furnishings, surfaces and details adding further depth, charm and classic romanticism,” Handelsmann says.
Vaucluse has seen only limited speculative opportunities in recent times, given the overwhelming do-it-yourself buyer preference for their stand-alone abodes.
PropTrack puts the Vaucluse median house price at a record $9.58m, up 11 per cent over the past year after 86 sales, with the apartment median sitting at $1.5m after 62 sales.
Sydney developer Danny Avidan of Dare Property Group recently relaunched his Fontaine, Vaucluse, development ahead of its September completion. The New South Head Rd apartments offering views to Sydney Heads were designed by Mim Design, with pricing from $5m to $13m. There was a report of a $7.5m sale recently with five remaining for sale.
Another Vaucluse project, Yugen by Aspire Developments on Burge St, still has its 223sq m penthouse and a garden residence listed for sale on realestate.com.au.
Moshav Financial has been a property lender and diversified developer in Sydney’s east since founded by Silberman in 2012.
Moshav had Lords Group as builder partner on its Aqualine, Bondi Beach, mixed-use project and its Verdical, Bondi Junction, office project.
Aqualine has 17 apartments over a commercial retail tenancy on Hall St, with 16 selling in early 2021. Its entire-floor 443sq m penthouse remains for sale, billed as the biggest in the beachside suburb. It is priced at $26.4m since being listed early last year, having initially been offered at $21.5m through Ray White Projects in conjunction with Wiesner Property.
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