Bigger isn’t always better: The benefits of buying a boutique apartment
The decision to buy an off-the-plan property can often end in a toss-up between a high-rise tower or a boutique apartment development. While they both offer distinctly different features, buyers are likely to find bigger is not always better.
By definition, boutique apartments are small collections of residences with a unique set of advantages larger projects can’t match. They are rare in today’s property market and accommodate an exclusive number of residents.
Contemporary architecture, interior design and bespoke construction are common hallmarks of a boutique development. This all results in a better investment for purchasers when compared to a higher-density project, said principal of Suburbanite and property valuer Anna Porter.
“If you’re looking at investing into the unit sector, you are better off looking at smaller, boutique complexes over larger ones,” she said.
“There’s a couple of reasons for that. One of which is that, more typically, the strata rates will be a bit lower because there are usually fewer facilities and amenities to maintain. You’ll find that it’s probably easier just to manage the day-to-day because there are just fewer personalities to deal with.
“Also, if you’re looking for something that’s going to deliver good capital growth, you want to get something that’s a bit unique in the market and a smaller boutique property will be more aligned to that than a typical unit in a bigger complex.”
No.1 Onslow Place in Elizabeth Bay is a great example. There are only six apartments in the complex, including a penthouse, which is spread across two levels and has 80 square metres of external area, including a private pool. The development embodies what makes boutique projects so highly sought-after – only two of the six apartments remain.
Developed by Toohey Miller in collaboration with architects Tzannes and Dilcara Constructions, each apartment enjoys vistas of Elizabeth Bay and direct lift access.
“It’s incredibly rare to get these boutique projects, particularly being whole-floor, with views from every level,” said Nick Couloumbis, founder of Toohey Miller. “When you have something rare and unique, it represents enduring and exceptional value. These properties are no different.”
Like many apartments in smaller developments, the two remaining units offer more space than those found in multi-residential projects and feature wraparound balconies that greet owners with views from the entrance lobby, living room and main bedroom.
Inside, the dwellings are also fitted with Gaggenau appliances in the kitchen, calacatta marble finishes and European oak herringbone flooring.
More exclusive projects like these also provide residents with a high level of privacy thanks to features such as direct lifts and clever architectural touches, including privacy screens on balconies and terraces.
Location is also key for boutique developments, and the address of No.1 Onslow Place is hard to beat. Positioned in the Potts Point locale, the project enjoys the best of its natural environment, and lifestyle conveniences are close by.
“You’ve got all the tranquillity of Elizabeth Bay with Arthur McElhone Reserve across the road,” Couloumbis said.
“That’s all juxtaposed with Macleay Street, which is only just around the corner. It’s a three-minute walk to the Paris end of Macleay Street with all the lovely hatted restaurants.”
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