Friday 12th August

Falls Creek properties under hammer

77 residential units and 3 retail spaces are to be auctioned via a no-reserve Helmsman Auction this month.

These residential units and retail spaces are from the four ski complexes of St Falls, Huski, Silverski and Naarilla.  The residential units include studios, one, two and three bedroom units.

The properties, developed by Zacamoco, a joint venture between Morry Schwartz’s Pan Urban and Callum Fraser of Elenberg Fraser architects, will be sold individually via the Helmsman Auction method, more commonly used for livestock, with no reserve set on any of the properties.

“Playing a key role in the development of Falls Creek as one of the country’s leading snow destinations has been a rewarding experience,” says Schwartz. “I’m immensely proud of the three projects we have created with Zacamoco”.

The renowned developments have elevated Australia’s alpine accommodation and facilities to be on a par with the finest ski resorts anywhere in the world.

“Now however, my focus is on the boutique property markets in Melbourne and potentially Sydney. So, even though Falls Creek is enjoying the best snow season in years, it’s time for me to move on," says Schwartz.

A Helmsman Auction is a variant of a simultaneous auction, as it allows bidders to bid for individual units, multiple units, or all of the lots ‘in-one-line’.  The process has advantages over a conventional auction with potential buyers offered flexibility in their purchasing decisions. Bidders can see the prices of each apartment as they are updated and change their buying strategy as time expires.

Huski, Silverski and St Falls have been credited with elevating Australia’s alpine architecture to the global stage. Their ambitious, cutting edge design helped raise the resort’s profile and turned heads locally and internationally, with Huski named best ski resort in the world by Wallpaper* magazine in 2006 soon after opening.

The refurbishment at Silverski, a 38-room boutique hotel featuring five luxury penthouse apartments, includes the award-winning Japanese restaurant Oshii.

St Falls, the jewel in the crown now managed by Mirvac Hotels & Resorts under their five-star Quay West brand, took its architectural inspiration from the Bogong Moth of local legend and is Australia’s only drive-in, drive-out, ski-in, ski-out, 5-star alpine resort and spa.

Zacamoco is also responsible for the development of Normandy Chambers in Melbourne’s CBD, home of Cafe Vue, Bistro Vue and, until recently, Vue de Monde.

Perhaps unsurprisingly, interest from investors in the auction has been strong, fanned by this year’s bumper ski season, the opportunities on offer and flexibility afforded by the Helmsman Auction method.

“With Morry looking to divest his entire portfolio on one day, we expect interest from a broad cross-section of buyers and investors, from those looking at the very top of the luxury sector to others who see an opportunity to enter the market,” says Mark Williams, CEO of Ray White Commercial, who will be overseeing the Helmsman Auction.

The auction takes place at 11am on 28 August in the Promenade Room at Crown Casino in Melbourne.

Interested parties must register to bid in advance. Click here to register.

For further information, find it in Thehomepage's new Development pages.

D’oh: Homer sells to Mo for discount

Emmy award winner and multi-talented media modul, Hank Azaria, has bought himself a new home in Pacific Palisades for $5.5 million.

Iconic Mosman Estate hits the market

The 21st Century has nurtured this old world beauty through to a respectful blend of Federation grandeur and modern comforts to create a home that is not only warm, and welcoming, but one that is functional and purposeful.

Built by Smith & Cabban in 1901, the landmark home is located in one of Mosman's most highly esteemed streets. The home is spread over 1400 square metres and boasts an impressive 35 metre frontage with landscaped gardens, orchard and vegetable gardens, and manicured lawns.

Named ‘Glen Osmond’, this elevated home benefits from uninterrupted views that lead the eye from the North Sydney Skyline to the Bridge, Sydney Harbour and the Eastern Suburbs. It includes the original decorated ceilings, formal archways, a deep sheltered verandah, formal and informal living and dining areas, generous eat-in kitchen, vast rumpus room with kitchenette, study, 4500 bottle capacity walk-in cellar, 12 metre heated pool, six bedrooms, four bathrooms, and a triple garage.

For more information, find it on Millionplus.

Perth's second-most expensive house sold

A Perth mansion has sold for $39 million, making it WA’s second most expensive house price.

Built for the 1980s entrepreneur Alan Bond, the property was sold to mining mogul Ross Atkins in 1993 for $7.3 million, who carried out extensive renovations on the home. Later, businessman Barry Patterson bought the property in 1999 for $9.5 million – which remained a record for Perth until 2006.

Now, another mover-and-shaker, mining magnate Steve Wyatt, and his wife, Sue, have bought the property after expressing interest in the property over a year ago.

Located on the banks of the Swan River, the 6,417 square metre mansion is spread across six titles and includes seven bedrooms.