A new luxury residential development in the New South Wales’ Southern Highlands is expected to generate strong interest, offering a different product to the local market.
Maeve, a 24-residence project at 18 Kangaloon Road in Bowral, offers a high spec finish and generous sizing in a great location, and will appeal to a wide range of buyers, catering for all ages, rather than targeting the over 55s market, as many other developments in the area do.
The project, which sits on the site where destination restaurant Biota used to operate before it closed in 2020, is ideally located within walking distance of Bowral’s vibrant town centre, with all the essentials just a stone’s throw away.
The development, being undertaken by Reform Projects, will offer 12 apartments and 12 townhouses ranging from three to four bedrooms, multiple living areas and two to three bathrooms.
Designed for owner-occupiers, prices for the apartments, sized from 131 to 179sq m, start from $1.7 million, while the townhouses, sized at 221sq m, will start at $2.2 million, with Luke Hayes of Knight Frank the appointed selling agent.
Bowral-based Tziallas Architects designed the homes, with Chloe Matters Design the interior designer, with the residences designed to provide the best of country life in Bowral, just 1.5 hours from Sydney, with a cosmopolitan twist.
The three-level townhouses are a contemporary reinvention of the rural barn, featuring recycled brickwork and beautiful, black-stained cladding softened by cascading balcony gardens and verdant ground-floor landscaping.
Features include a private basement carpark and lift to a personal lobby and upper floors, wine cellar, feature fireplace, a large outdoor terrace and landscaped garden.
The single-level apartments will have a similar look and feel, with private open spaces in the form of generous balconies on the upper floors and access to beautiful gardens on ground floor apartments.
Flexible floorplans for the apartments are available to accommodate the buyer’s preferred layout.
Mr Hayes said there would be strong demand for homes in the project due to its rarity of the offering, the location, luxurious design and inclusions, as well as the sense of space.
“The generous sizing of the three-bedroom homes will have huge appeal,” he said.
“This includes the fact that they are built on a large site, with the developer opting for fewer homes in favour of more open space to create an intimate and relaxed feel that captured that green, country outlook, rather than fitting more homes onto the parcel.
“With timeless architectural appeal, generous floor plans, luxurious finishes and leafy gardens, Maeve will appeal to a wide range of owner-occupiers.
“In particular the residences are a great option for rightsizers, which are those downsizing from a larger Southern Highlands house or estate, or Sydneysiders looking for a second home outside of the city and seeking a taste of the country life.”
Mr Hayes said the rightsizing trend – downsizing to a luxury apartment and townhouse living – was becoming increasingly popular in lifestyle locations, as has been happening in the city.
Knight Frank research shows attached residential home values in Bowral have experienced growth of 131 per cent over the past ten years, whilst in Sydney values for similar product have increased by 108 per cent.
Meanwhile, Bowral saw values for attached homes grow by 21.3 per cent in the second quarter of 2022, to record growth of 32 per cent over the past year.
“There is still activity in the lifestyle locations of New South Wales, despite a slowdown across Greater Sydney where attached home prices have remained steady for the past two quarters,” Mr Hayes said.
“The length of time for an attached home being advertised in Bowral has averaged 149 days on the market over the past ten years compared to 66 days in Greater Sydney.
“However, the average number of days in the Bowral market has dropped to average 60 days in the past six months, while Greater Sydney averaged 66 days in this time.”
Maeve is Reform’s first project as builder developers after an illustrious track record as a renowned builder for Sydney’s most prestigious luxury boutique homes and apartments in areas like Palm Beach, Manly, Vaucluse, Double Bay, and Bellevue Hill.
With an unrivalled reputation for delivering projects of exceptional quality and refinement, this flagship Southern Highlands project marks the start of Reform’s foray into the luxury owner-occupier space.
The homes in Maeve are expected to be completed by early 2025, with construction slated to begin in March/April next year.
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