Rose Bay penthouse’s expected price slashed

The expected price for a Rose Bay penthouse owned by the wife of banned financial adviser Adam Blumenthal has been cut by $3.5m.

The stunning views from the Rose Bay penthouse.

Annabelle Shamir, the wife of Adam Blumenthal, the former chairman of boutique stockbroker Everblu Capital, has reduced the price expectation for her Rose Bay penthouse investment listing.

The two-level Opus apartment has a $14.5m price guide, despite hitting the market last September with expectations of $18m.

The 626 sqm space was bought off the plan for $11.5m in 2021. Bureau SRH was then commissioned to combine two whole floor apartments into a four-bedroom plus study residence with views across the harbour to the city skyline. Its open-plan living room is 150 sqm.

It features a rooftop terrace with outdoor kitchen and spa, plus four car spaces.

It sits between a Bakers Delight and a Commonwealth Bank on the New South Head Rd retail strip.

Over the past five years Rose Bay has had 10 strata sales above $10m, topped by $14.75m on the Collins Ave foreshore last August.

“This is the best penthouse in Rose Bay,” the then listing agent Gavin Rubinstein, of Luxe Listings fame said on its initial listing.

Its title has a registered mortgage facility allowing a $19m advance from One Pacific Capital Partners.

Priceless views from inside the Rose Bay property.

The penthouse was bought in the same year Shamir spent $30m on the couple’s Bellevue Hill abode. The trophy home has four registered mortgages starting with the NAB followed by second-tier lender Millbrook Funds, First State and Secured Lending 2 Pty Ltd.

One Pacific Capital Partners, directed by Bechara Shamieh, has also lodged a caveat on the Victoria Rd title arising from its lending.

The 2022 Millbrook memorandum notes Blumenthal’s Goblin Trading as its borrower with an advance of $8,625,000 and guarantee and indemnity provided by Shamir.

Shamir’s High Range, Southern Highlands getaway, which cost $3.9m in 2020, has three mortgages, with NAB followed by Secured Lending 2 Pty Ltd and First State.

The Australian Securities and Investments Commission recently accepted a court enforceable undertaking from Blumenthal to not be involved in financial services for five years.

ASIC cancelled EverBlu’s Australian Financial Services licence after an investigation into market rigging with ASX-listed Creso shares.

Linley Point nation’s priciest sale

The nation’s top weekend sale was $8.3m at Sydney’s Linley Point.

The modern five-bedroom, four-bathroom hillside home has views of the Sydney Harbour Bridge and city skyline. It was built with a full steel structure.

The Haughton St property, sold through Ray White Hunters Hill agent Tim Le and Alan Hong, ranks as the second most expensive sale in the small suburb on the Lane Cove River.

Around on the Parramatta River, there was a $6.78m private treaty sale at Putney when McGrath Ryde agent Robert Bagala sold a 752.6 sqm riverfront home on Waterview St to a couple who had been looking for that sort of property for a year.

1 Haughton St, Linley Point topped the nation’s weekend sales price.

Closer to the city, there was a $5.2m sale of an apartment in the Sydney Wharf, Pyrmont complex through Morton Pyrmont agent James Crow.

Sydney’s most expensive weekend offering, Prince Albert House, the 1907 Federation Mosman manor on 1254 sqm, did not sell.

The previous weekend’s priciest listing at 51 Arnold St, Killara has since been sold at an undisclosed price post auction, but above the guide price which was $8.5m.

Goldman Brothers buyers agent Spencer Tsang negotiated on behalf of a family from the upper north shore who bought the six-bedroom, three-bathroom house through McGrath agent Will Geist.

Hawthorn East tops Melbourne list

Melbourne’s top weekend sale was at Hawthorn East where a four-bedroom house sold through Gary Peer & Associates agents Leor Samuel and Dizzy Wang for $5,051,000.

36 Tourello Ave, Hawthorn East.

It attracted five buyers seeking the Tuscan inspired, single-level home on Tourello Ave.

The reserve price was $4.4m.

The property last sold for $620,000 in 1999.

Auction clearances up

The national weekend preliminary auction clearance rate stepped higher to 74.7 per cent, which CoreLogic research director Tim Lawless calculated was the highest since a 75.9 per cent tally in early April.

Both of the major auction markets recorded a rise with Sydney at 76.7 per cent and Melbourne at 70.2 per cent.

Adelaide led at 84.8 per cent, followed by Brisbane at 78.9 per cent.

Canberra was the only capital city auction market to see a weekly drop in the preliminary clearance rate to 64.3 per cent with its top reported sale being a four bedroom contemporary house at 53 Earle St, Lyneham fetching $2.75m.

Winter slowdown apparent

PropTrack economist Anne Flaherty noted “the number of homes heading to auction is slowing as we move further into winter and the school holidays”.

Last week 2137 homes were put up for auction and 2011 are scheduled this week.

Despite the slowdown in activity, auction volumes are still well above last year’s levels, with a spurt in South Australia and Queensland.

8 Edwin Tce, Gilberton received the most views on realestate.com.au.

The most viewed residential listing on realestate.com.au last week was the 2018-built Opus at 8 Edwin Tce, Gilberton in Adelaide.

The listing through Fox Real Estate agent Nick Pelvay has received more than 15,000 page views so far on realestate.com.au.

Spanning 1045 sqm of living space, the Opus estate comes with a resort-inspired pool and tennis court on its 4085 sqm holding which last traded in 2009 for $2,750,000.

Investors responding to new tax year

The end of the financial year appears to have prompted investors into selling, with their timing ensuring any capital gains tax will sit in the 2024-2025 tax year.

Ray White calculated 35.8 per cent of its sellers last week were investors, which was higher than June when it averaged 30.2 per cent.

It was the highest weekly percentage since March.

Ray White sales included a tenanted two-bedroom, one-bathroom home at 3/2 Vincent Court, Mildura in regional Victoria for $267,500, reflecting a 5.85 per cent gross yield.

“Currently tenanted at a lucrative $300 per week, this unit represents a wise investment with an existing income stream,” agent Katrina Wootton said.

New figures, however, show rental growth is weakening after years of sustained increases.

PropTrack calculates that median weekly rents increased by 3.2 per cent across Australia’s capital cities in the June quarter, following a 4.2 per cent rise in the March quarter.

Rent growth in the regions was up 3.9 per cent over the June quarter, following a 4 per cent rise in the March quarter.

“Perth has seen the strongest rent growth over the past 12 months, due to an undersupply of rental accommodation, followed by Adelaide,” PropTrack’s Anne Flaherty said.