Residential Sale

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The Hollywood-based actors Simon Baker and Rebecca Rigg have splashed out $6.5 million on a Bronte home. 

They made the bullish off-market purchase of the recently completed three-bedroom contemporary home last month.

The couple have an apartment on the Ben Buckler peninsula overlooking Bondi Beach and a hide­away at Nashua, in the Byron Bay hinterland.

Before that they owned a Paddington terrace, which was sold in 2007 for $3.3 million.

They had paid $2.63 million for their Bondi bolthole, in an older-style block, in early 2014. The three-bedroom, two-bathroom unit has a staircase to a 135sq m rooftop terrace.

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Ballina-raised Baker is known to enjoy a surf. Their new Bronte pad was designed to capture beach and ocean views, with approval from Waverley Council in late-2012.

The sale of the hillside 380sqm property with flat-roofed home is the highest price in Bronte since last October. The holding, close to Macpherson Rd village, had last sold in 2005 for just $3.1 million.

It is just a short distance to the fashionable Three Blue Ducks cafe.

The top Bronte sale sits at $16.5 million along the exclusive strip known as The Cutting on the ocean side of Bronte Rd overlooking the beach and ocean.

Baker, who recently undertook his first directorial job, is best known for his lead roles as Patrick Jane in TV series The Mentalist, and as Nicholas Fallin in The Guardian.

He has also promoted brands such as Givenchy and Longines and the ANZ Bank — but it seems in this case there was no need for any local mortgage financing.

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The couple relocated to the US in the mid-1990s.

Actors Simon Baker and Rebecca Rigg married in 1998, having met in the early ’90s on the set of Aussie soap E Street in which their characters, Baker’s Constable Sam Farrell and Rigg’s Nurse Amy, were also a couple. Rigg stepped back from her acting career to raise the couple’s children Stella, Claude and Harry.

The couple weren’t sighted around Byron Bay on their recent trip home, perhaps because of their eastern suburbs home search.

But they typically escape­ the paparazzi by heading to their hinterland retreat, having paid $1.5 million for the 7ha property in 2009. The rambling homestead with pool and tennis court was once owned by Northern Rivers royalty, the Scarrabelotti family.

This article and photo first appeared in the Saturday Daily Telegraph.
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Actor Simon Baker upsizes to $6.5 million Bronte trophy home from Bondi Beach apartment

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GUEST OBSERVER
The impending end to the 2015/16 tax year is set to help drive real estate market activity in autumn.
With the end of the tax year fast approaching, many investors and self-managed super funds will be weighing up whether to rebalance in or out of real estate assets and will act well before the  June 30 cut-off.
Throw in the threat of a July Federal Election and we expect appraisal, listing and sales numbers to hold their ground in the lead up to the end of the financial year.
Buyer activity will be consistent in autumn
Real estate has become a round-the-clock market due to the universality of the internet, which means vendors can achieve good sales results regardless of the season.
Buyers are driven to secure a property for a wide variety of reasons, whether it’s to secure a tax-effective investment for a self-managed super fund, or a home to live in – and the season makes little difference to them.  
If the vendor settles on a realistic price and the property is well presented, it won’t matter to buyers whether it’s spring or autumn.
Yet the reality is there will be fewer properties for sale in autumn than in the traditional springtime selling months between September and December, when many owners list properties for sale.
The number of properties for sale in March 2016 was 20 percent less than September 2015, according to Raine &amp; Horne.
If there are fewer properties for sale in April and May than September, and more or less the same number of buyers, it stands to reason that an autumn sale can make plenty of sense.
A more pleasurable experience for buyers
Across much of Australia, autumn is relatively milder than the stickier spring and summer months – although it will be getting chillier in the southern states.
An autumn open home therefore can present a more pleasurable experience for buyers, who will be more likely to poke around properties with more inviting external spaces for longer than they might at the height of the summer.
The colourful backdrop provided by autumn leaves may even strike a chord with some buyers looking for the perfect outdoor experience.
Tumbling autumn leaves, however, means owners need to be diligent with the rake to ensure the exteriors of their properties present in a clean and tidy fashion. 
 
Angus Raine is executive chairman, <a href="https://www.raineandhorne.com.au/" target="_blank">Raine &amp; Horne</a>.
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End of financial year to drive autumn property markets: Angus Raine

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A Bridgeman Downs, Brisbane home has been listed for sale, marketed along the lines that it is along the lines of homes expected in Ascot.
The <a href="https://www.realestateview.com.au/Real-Estate/14-flametree-street-bridgeman-downs/Property-Details-buy-residential-9170002" target="_blank">14 Flametree Street Brisbane</a> property has been listed with $2.425 million hopes through Brian McGrath at Ray White Chermside.
This is the first time this property is offered to the market.
The property sits on 1845 square metre and takes in views over the surrounding suburbs through to the waters of Moreton Bay.
The property also offers a guest-pool house.
Bridgeman Downs, about 14.5km from the Brisbane CBD, recently transformed some areas of open forest into up-market contemporary housing.
The median house price for <a href="https://www.urban.com.au/property-observer" target="_blank">Brisbane Downs is $736,500</a>, according to CoreLogic RP Data.
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Bridgeman Downs home with Ascot touch for sale

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The celebrity personal trainer Shannan Ponton, who made his name in Channel 10's The Biggest Loser show, has bought at North Curl Curl.
Ponton sold at Freshwater for $1.59 million last year and will anyday now be moving into a $2.5 million home.
It's a four bedroom, three bathroom house constructed in 2012. The master bedroom comes with sea views.
It was marketed as having a resort style, solar heated swimming pool by Ray White agent Graham Bennett who secured the sale pre-auction. There's 355 sqm living space on the 570 sqm block. 
From 2007 Ponton was the blue team leader on the Channel 10 weight-loss program who competed against the Steve "Commando" Willis and Michelle Bridges.
Ponton and his wife Kylie had paid $1.09 million in 2010 for their two storey four bedroom, two bathroom Freshwater home soon after they married.
It had 200 sqm internal space with decking rather than garden on the 310 sqm block.
They especially wanted a pool and garden.
Shannan was never going to stray far from the northern beaches where he trains the Harbord Valley Spartans rugby team in strength and conditioning.
This article was first published in the Sunday Telegraph.
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Celebrity personal trainer Shannan Ponton buys in North Curl Curl

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Company director Eric Dodd and his wife Vanessa - the downsizing Mosman couple - have sold their Burran Ave home.
The chairman of First American Title Insurance has owned the hillside home since 1995 when it was bought for $961,000.
Set 100 metres up from Balmoral Beach, <a href="https://www.33burranave.com/" target="_blank">the home</a> comes with an infinity pool.
It was listed for between $9 million and $9.9 million through Belle Property agent Tim Foote, but seemingly sold for $8 million plus.
Known as 'The Rhino' for his intensity and drive, Eric has worked at NRMA, BUPA, IAG and AON.
The Dodds retain their Ingleside acreage retreat.
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Eric Dodd sells in Mosman after 21 years

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James Kennard, from the Kennards Self Storage family, has sold his 1890 Glebe mansion to buy in Bronte.
<a href="https://www.domain.com.au/244-glebe-point-road-glebe-nsw-2037-2011873857" target="_blank">Hartford, a magnificent Queen Ann manor</a> featuring five bedrooms, two offices and three marble bathrooms managed to achieve a $4,228,000 sale.
The mansion features a self-contained garden studio and the expansive lower-level former staff quarters encompasses a bar room with an adjoining wine cellar, a games room, art studio space, a workshop and storage.
It sold at $3.85 million in late 2013.
McGrath Real Estate's Michael Glynn handled the listing.
Kennard made a $5,325,000 purchase in the same month, this time on Yanko Avenue, Bronte.
Kennard bought a striking contemporary beachhouse on a 616sqm block.
Designed by Smyth and Smyth, the five bedroom estate was recently completed in 2014.
The property also boasts resort style gardens and three marble bathrooms.
The Bronte listing was with Jason Pantzer of Phillips Pantzer Donnelly.
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James Kennard sells Queen Anne Glebe trophy mansion in Bronte beachhouse move

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Spin doctor Sue Cato and her fund manager husband Vaughan Busby sold their vast Glebe home at weekend auction for $3.21 million.
There were three bidders among the six registered parties, with it knocked down to the opening bidder who commenced the auction with a $2.8 million bid.
It last traded in 2011 for $2.2 million then being redesigned by Michael Bechara into a <a href="https://www.bresicwhitney.com.au/buy/49-hereford-street-glebe-11997" target="_blank">contemporary three-bedroom residence</a>.
Set on almost 500 square metres it comes with industrial touches and warehouse-style scale.
It was initially expected to sell for more than $2.8 million through BresicWhitney agents Matt Carvalho and Shannan Whitney who raised their price guidance during the campaign to $3 million plus.
Sue Cato sold her Stanwell Park weekender last month for $2,765,000 having renovated since bought in 2006 for $1.7 million.
This article was first published in the Sunday Telegraph.
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Spin doctor Sue Cato sells in Glebe

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GUEST OBSERVER
The introduction of new legislative changes on property sales over $2 million will create a new compliance burden and could delay property settlements.
On the 1st of July 2016 the new legislation will come into effect under The Tax and Superannuation Laws Amendment Bill 2015. It introduces a new 10 per cent withholding obligation on the purchasers of properties over $2 million where the vendor is a foreign resident for tax purposes. Sellers are also now required to obtain a clearance certificate to prove they are an Australian resident for tax purposes.
According to data from APM Research and the Australian Bureau of Statistics in the 2016 FYI (up to 31 April) there were 12,072 house and apartment sales in Australia over $2 million.
The legislative changes will put Australian and foreign residents on a level playing field, but will have their challenges. The tax compliance burden for resident taxpayers will significantly increase and conveyancers will need to ensure their clients are abiding by the new laws to limit property settlement delays.
The Federal government is expected to significantly benefit from the new changes as there should be less tax revenue leakage.
From a buyer’s perspective they now have an obligation to withhold 10 percent of the property price to ensure the purchaser is compliant with the new regulations, otherwise they could be liable to pay a penalty which is up to the full 10 percent of the purchase price plus interest.
From a seller’s perspective, they could have less funds available which might otherwise have been available to discharge the mortgage on the property and/or fund a new property purchase. They could end up with only 90 percent of the proceeds on settlement unless they are able to obtain a clearance certificate from the tax office. If there are data irregularities, delays of between 14 to 28 days are expected to obtain a clearance certificate.
The legislative changes were introduced to reduce difficulties that can be associated with collecting tax on gains resulting from the sale of property assets from foreign resident taxpayers. Some of these tax payers have a limited connection to the Australian tax system and may be in a position to transfer proceeds offshore prior to compliance action being taken. Voluntary compliance by foreign residents in this regard is said to be extremely low.
The ATO has just released forms for the following: clearance certificate application for Australian residents; variation application for foreign residents and other parties; purchaser payment notification.
Manda Trautwein is director at William Buck, national accounting and advisory practice and can be contacted <a href="https://www.williambuck.com" target="_blank">here</a>.
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Legislative changes to create new compliance burden and could delay property settlements: Manda Trautwein

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NRL coach Ricky Stuart has sold his Sutherland Shire waterfront property which was listed with $3.5 million hopes.
It was bought in 2011 for $2.65 million from the former champion swimmer Ian Thorpe who paid $2.9 million in 2003 for the Port Hacking waterfront.
<img src="/images/stories/thorpe2.jpg">
Stuart's 2011 purchase of <a href="https://www.realestate.com.au/property-house-nsw-port+hacking-120274921" target="_blank">2 Wallendbeen Avenue</a> marked his return to the sporty shire, having previously owned at Burraneer Bay.
Stuart had been on the receiving end of the weaker property market in Sydney's eastern suburbs, as he sold his former Vaucluse house for $2.3 million in 2011 having paid $2.75 in 2006 while coaching the Sydney Roosters.
He has been coaching the Canberra Raiders since 2014, renting the former home of Kevin Rudd.
Marketed promoting its sporting property pedigree, it is understood around $3 million was secured through Jon Brookes at Brookes Partners.
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Ricky Stuart sells in Sutherland Shire

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Liberal party power broker Walter Villatora has listed his luxury Manly home, but only to upgrade on the peninsula.
Villatora bought the property for $1.85 million in 2011.
Fitted with fingerprint entry, <a href="https://www.realestate.com.au/property-house-nsw-manly-121848310" target="_blank">the freestanding four bedroom new build</a> comes with a new pool.
The white sleek family home has a private garden with an entertaining decking. 
The listing agent Tim Mumford of Stone Real Estate believes interest will come in at over $4.5 million.
Villatora, who is also the managing director for business advisory firm Outcome Group, has campaigned for his local politicians, former Prime Minister Tony Abbott and Premier Mike Baird.
This article was first published in the Saturday Daily Telegraph.
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