Tamarama

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The pioneering fashion retailer Robby Ingham and his wife Sarah have finally sold their Tamarama home.
It comes a year after they moved around the corner where they finished construction of their new home.
The redundant five bedroom home had point blank ocean vista with views back towards beach.
Given its position above the popular coastal walk, the garden on the 440 sqm double block featured a sheltered entertaining area.
There was also  a 25 metre lap pool that spanned the Gaerloch Avenue property.
It had been on the books of Pauline Goodyer of Goodyer Real Estate, with the advertising only coming down earlier this month.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/21/ingham_0000_i1.jpg.jpg" alt="">
There's been no price sale price indication, by Goodyer who thought it was sold last August when the then $14 million buyer walked away.
It was back in 1994 when Ingham paid $810,000 keener for the offering than film producer Rebel Penfold Russell who stayed instead on the Ben Buckler peninsula at Bondi. 
Ingham bought the adjoining block in 2004 allowing the 2008 home extension renovation.
Ingham, in an early show of entreprenuerial independence from his chicken producing family, opened his first store on Oxford Street in 1983.
His imported designer clothes were soon worn by the fashion set of Sydney. 
After 32 years Ingham decided to shut up shop in 2015, retiring given the trend towards online shopping had dented trade and his joy of face to face customer interaction.
Ingham also owns in Gerringong, a 40-hectare parcel where he's building a retreat with tennis court, pavilion, barn, stables and pool.
This article was first published in the Saturday Telegraph.
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Pioneering fashion retailer Robby Ingham and his wife Sarah finally sell in Tamarama

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The veteran Sydney jockey Glyn Schofield has secured an investment apartment in Tamarama.
The jockey paid $2.3 million for the apartment in the <a href="https://www.realestate.com.au/sold/property-apartment-nsw-tamarama-124474426" target="_blank">newly completed Pertama complex</a>, just 200 metres from the beach.
McGrath Edgecliff agent Simon Exleton sold the home to Schofield, who quickly sought a tenant at $1,500, reflecting a 3.4 percent yield.
Spanning 120 sqm, the apartment has three bedrooms, two bathrooms with a large balcony.
The boutique 10 apartment Pertama building comprises two apartments per floor designed by Marchese Architects.
One of the penthouse's sold for $2.62 million off the plan in 2014.
Schofield has racked up over $50 million in prize money for his owners over his illustrious 16 year career.
His crowning moment came last year when he rode the James Cummings trained outsider Prized Icon to the Group 1 $1.5 million AAMI Victoria Derby victory.
This article first appeared in the Sunday Telegraph.
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Sydney jockey Glyn Schofield buys Tamarama investment

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No one should underestimate how home improvements contribute to Sydney's rising residential prices.
We are going through a renovation boom, with time poor buyers willing to pay extra if the renovation is completed to a high standard.
Rather than undertaking the work themselves, strong demand is being shown by buyers for quality renovations completed, valuers Herron Todd White have advised.
They note the popularity of renovation shows on television, sees more and more people jumping on board.
Channel 7’s The Aussie Property Flippers program recently featured a Tamarama property. The small Fletcher Street two bedroom, one bathroom unit was purchased in early 2016 for $780,000. With a renovation cost of around $80,000, the 58 sq m property sold last December for $1.065 million. 
In Sydney’s CBD a one bedroom, one bathroom unit with car space in a converted heritage Clarence Street building was purchased in early 2016 for $710,000.
After full renovation to a high standard it sold in April for $1.13 million. 
There has been limited flipping within the prestige market but one was in Bellevue Hill where $3.9 million was paid in 2015 and $5.75 million secured recently after what HTW noted was "a good quality cosmetic renovation,. 
Agents says sellers across Sydney who've undertaken very basic renovations are not doing as well as those who undertake more extensive renovations.  
But HTW warn one of the biggest mistakes renovators can make is to over capitalise.
"This is more common in suburbs with lower price points where even minor blowouts in budgets can result in an over capitalisation," their June report advised.
"The best way to ensure this doesn’t occur is look at any examples of the end product that have sold in the local area.
"If sales of renovated properties are within a certain price point it will give you a target and assist your budget to ensure the project will stack up." 
Success was secured at a Smithfield property purchased in original but poor condition in early 2016 for $575,000.
The property was fully renovated, slightly extended and reconfigured to include an additional fourth bedroom and bathroom.
It then sold in March for $860,000.
With the renovation carried out correctly to meet market demand in the area, the success represented a 50 percent value increase in just over 12 months, albeit HTW noted that overall market growth had a big part to play.
The strong market conditions over the past few years has certainly been a major factor in not only the profits made but also lifting the confidence of the people undertaking these renovations. 
There aren't just the flippers of course. 
There have been increased number of frustrated home owners seeking to add value to their current properties rather than upgrading amid the recent price surge and listings shortage.
This article first appeared in the Daily Telegraph.
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Flipping success across Sydney comes from matching market needs

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Angus Geddes, the founder of investment research publisher and fund manager, Fat Prophets has quietly bought a Tamarama apartment.
He's spent $1.45 million on a three bedroom apartment in the Glenview Court apartment block, which has dominated the hillside for five decades.
It's set to be something of a weekender for Geddes, once the building finally gets its refurbishment overseen by architect Nick Tobias.
Over time McGrath selling agent Simon Exleton has sold more than 10 apartments in the Illawong Avenue block adding he has only had to advertise three given the waiting list to buy into the forlorn looking block.
In 2011 the body corporate gained approval for two penthouses on the eight floor, which when sold for $10 million plus each, are expected to cover the costs of its much-required building upgrade.
When Sydney's most celebrated architect, Harry Seidler, designed Glenview Court in the early 1960s it was a vision of sleek urbanity, with every apartment set to be built over two levels with expansive windows taking advantage of the views over lush parkland to the Pacific Ocean.
But mid-way through construction, the developer ran out of money with Walter Rivkin then buying the project in 1965 but completing the high-rise project at a fraction of the original cost by sacrificing Seidler's design.
Tobias Partners has used Seidler's original drawings for inspiration.
Exleton said everyone is expecting the apartment to have increased in value by between $400,000 and $700,000 each.
Geddes, a Potts Point based stockbroker owns a number of investment properties, but recently advised he didn’t see a lot of value in property at the moment.
"I’m more of a seller than a buyer," he advised.
He owns commercial and residential property investments in Sydney, other states in Australia and New Zealand.
'I apply the same strategies to the property market as I do stocks: it’s a counter-cyclical, contrarian approach.
He invested heavily in commercial property right after the global financial crisis, buying quite a lot of office space in Sydney and then he went heavily into Gold Coast residential property after the property crash.
This article first appeared in the Sunday Telegraph.
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Fund manager Angus Geddes buys Tamarama apartment

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Sydney leads the country not just in home prices, it tops in rents too with Tamarama commanding the highest median rent of $1,725 per week for houses while Dawes Point leads in units with $1,775 pw for units.
Sydney takes all the top 10 spots for highest median rents per week for both houses and units, according to CoreLogic’s Best of the Best 2016 report.
The report’s figures are based on the median across all rental advertisements over the 12 months to September 2016.
<a href="https://www.propertyobserver.com.au/images/2016/12/23/TamaramaTable.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2016/12/23/TamaramaTable.png" alt="">
Property Observer found across a few houses up for rent in Tamarama.
Though at present, we could not find any houses around the median price, here’s two:
A six-bedroom house at <a href="https://www.realestateview.com.au/rental-properties/20-gaerloch-avenue-tamarama-nsw/property-details-rent-residential-10613128/" target="_blank">20 Gaerloch Avenue, Tamarama, NSW 2026</a> (below) is up for rent at $3,200 pw.
The beachfront house is located on Tamarama Beach and overlooks Mackenzies Bay. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/12/23/TamaramaFirst.jpg" alt="">
Another beachfront three-bedroom house on <a href="https://www.rent.com.au/property-house-tamarama-2026-1932842?search_token=41c224798e6d72d289f8581a" target="_blank">Birrell Street, Tamarama, NSW 2026</a> (below) is available for $2,500 per week.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/12/23/TamaramaSecond.jpg" alt=""> 
A two-bedroom apartment on Tamarama Beach at <a href="https://www.rent.com.au/property-house-tamarama-2026-2015726?search_token=3121a724df2231da78c36ff3" target="_blank">Wonderland Avenue</a> (main picture) is available to rent for $2,200 p/w.
The fully furnished house has an an entertaining deck with BBQ and al fresco dining.
For units in Dawes Point, the suburb that leads nationally on median rent, Property Observer couldn’t find any apartments that come close to that criteria.
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Tamarama leads all Sydney in highest median rents

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The Tamarama home of former fashion retail pioneer and Ingham Chicken heir Robby Ingham and wife Sarah is back on the market after a collapsed sale.
It was thought to have set a suburb record when it sold in August for close to $14 million, however an expat banker opted not to proceed with the purchase.
Pauline Goodyer at Goodyer Real Estate retains the listing that first went up for sale in April.
It now comes with $14.75 million hopes.
It is a three storey home with five bedrooms and five bathrooms.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/12/14/Tamarama.jpg" alt="">
The ground floor features a split level design comprising a kitchen, living room and separate dining room. Each zone opens onto a terrace.
The master retreat with ensuite offers floor to ceiling windows that open onto a private ocean facing balcony.
The lower ground level has a 25 metre lap pool with a gym, family room and a self-contained studio apartment.
The oceanfront reserve Gaerloch Avenue property was redundant as the Inghams had built nearby after demolishing a block of six apartments which cost $14.45 million in 2013.
Ingham is a famous name around the Sydney fashion scene.
Ingham and his siblings received an inheritance from the family chicken business, which was sold to the private equity company TPG Capital in 2013.
This article first appeared in the Daily Telegraph
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Fashionista Robby Ingham relists Tamarama record setter with $14.75 million asking price

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A Tamarama Marine Drive, Tamarama building block has been listed by Marco Rossi, chairman and founder of the construction company Built.
There have been <a href="https://www.realestate.com.au/property-house-nsw-tamarama-123910178" target="_blank">$15 million reported expectations</a>.
Rossi bought the property back in 2007 for $11 million through the Blacket Agency, setting a record for the suburb at the time.
He demolished the existing building and excavated at a cost of around $1 million.
Rossi has since moved to Bellevue Hill's Yoorami with his partner, Stephanie Stokes, as they wanted the family to be closer to schools.
Plans for the five bedroom home include an eight-car garage and a lift from the street frontage.
The plans are estimated to cost another $7 million.
They were designed by internationally renowned <a href="https://wallacecunningham.com/" target="_blank">architect Wallace E. Cunningham</a>.
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Tamarama's trophy home site with plans listed by Built's Marco Rossi

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Richard Norgard, the founder of Jigsaw Capital, and wife, Therese have listed their Tamarama home of 15 years.
The chief executive of the boutique private equity firm had architect William Zuccon designed <a href="https://www.realestate.com.au/property-house-nsw-tamarama-123602862">the Dellview Street house</a>.
There's bespoke joinery throughout the four bedroom, three bathroom house designed by Sally Greenaway.
The home includes a gym, steam room and a swimming pool. There's also a 2500 bottle climate controlled wine cellar.
The buyers' guide for the property is $8.5 million through Pauline Goodyer at Goodyer Real Estate who recently secured the suburb's record sale.
It was when the former fashion retailer Robby Ingham and his wife Sarah sold for shy of $13 million sale for their oceanfront reserve Gaerloch Avenue property.
This article was first published in the Sunday Telegraph.
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William Zuccon-designed Tamarama listing

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Fashion retail pioneer Robby Ingham and his wife Sarah have secured a Tamarama record with a near $14 million sale.
The oceanfront reserve Gaerloch Avenue property tops two $10 million plus sales set on Thompson Street. It included the $11 million acquisition by Marco Rossi, chairman of Built, and his partner Stephanie Stokes in 2008. There was a $10.5 million sale in 2008.
It was sold through Pauline Goodyer at Goodyer Real Estate. There has been no formal price disclosure.
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<div>The Inghams have built nearby having bought another oceanfront reserve, a block of six apartments for $14.45 million in 2013.</div>
 
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Record Tamarama trophy home sale by Robby Ingham

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The recently appointed editor-in-chief of The Australian Women’s Weekly, Kim Doherty (nee Wilson) and her husband, Guardian Australia journalist Ben Doherty secured the pre-auction sale of their Tamarama apartment, as they are trading up in the eastern suburbs.
Listed with an $800,000 to $875,000 guide, Bethwyn Richards of McGrath Estate Agents secured $920,000.
The former editor-in-chief of New Idea - who was also a regular on Sunrise as one of “Kochie’s Angels” - had purchased the Stonehaven apartment in 2007 for $515,000.
She'd undertaken an upgrade of the internal finishes. Its north-facing curved sunroom was converted into a nursery for daughter Molly.
Doherty was named as the new editor-in-chief of AWW in February, taking over from her former boss Helen McCabe.
This article was first published in the Sunday Telegraph.
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