Sydney's well-heeled make plans for a summer home renovation blitz

Summer in Sydney’s well-heeled neighbourhoods isn’t just about harbourside lunches and views of the fireworks.

Judging by the number of development applications before council, it’s also a time for a home renovation blitz.

Fuelling the home renovation drive are fewer new properties for sale in areas like Sydney’s blue-ribbon harbourside suburbs, said Archicentre Australia director Peter Georgiev. “We’re certainly getting more enquiries from people planning to renovate rather than replace.”

And the best time to lodge those plans are while the neighbours are likely away on holidays, said Ray White Double Bay director Elliott Placks.

“It also helps that building costs are coming down and so now is a good time to make the most of that,” said Mr Placks.

Investment banker Mike Messara knows it. Six months after he bought his family’s trophy home Seacliff on Mosman’s prized Wyargine Point from his dad, horse breeder John Messara for $23 million, records show the Caledonia co-chief investment officer has lodged plans for a new dwelling at a cost of $9.1 million.

Fund manager and Airtasker chairman James Spenceley has secured court approval for an interior reconfiguration, balcony additions and excavation of the waterfront home he bought in Cremorne in mid-2018 for $12.5 million.

Woollahra Council has clocked up an impressive roll-call of high-profile home owners who have lodged DA plans last month alone, including designer Rebecca Vallance and her husband, David Gasan. The couple plan to demolish the Vaucluse house they bought in early 2018 for $4.45 million to make way for a four-level residence with six bedrooms, a study, multiple living areas, swimming pool and an internal lift at a cost of $3.5 million.

Recently departed chair of China’s largest investment bank Citic CLSA Andrew Low has plans for a new swimming pool and internal lift at his $7.7 million Darling Point home.

Car dealer Scott Sutton and his wife Nadia have designs on the Vaucluse home they bought last year for $3.38 million, commissioning X Pace Design Group to design a new swimming pool, cabana and carport at $257,000.

Some of 2019’s big-ticket buyers are also expected to join the DA queue.

Shay Lewis-Thorp – daughter of the late property tycoon Bernard Lewis – is expected to undertake work on the home she bought from rag trader Susie Kelly for $32.5 million in November; former Nine chairman David Haslingden and his wife Alexa are planning a major redesign of their recently purchased $9.4 million waterfront house down the road; and designer Camilla Freeman-Topper is expected to undertake work on the $15.75 million Bellevue Hill residence she bought.

Developer Anthony Medich bought the Tudor-style house behind his Vaucluse home last February for $6.8 million and is hoping to make “alterations and additions” to already approved Campbell Architecture plans.

Property developer Michael Coombes and his wife Barbara lodged amended plans in November on the Vaucluse waterfront house they bought from Rupert Murdoch’s eldest daughter Prue Macleod on 2012 for $13.25 million, with plans to demolish it and replace with a new three-level residence at a cost of $5.9 million.

Also among the November DAs is a bid for “alterations and additions” to the Vaucluse waterfront mansion of Capital Corporation director Steve Grant and his wife Eliza they bought for $14 million in 2013, and a knock-down-rebuild at a cost of $8.5 million for the Federation mansion bought by Mei Peng, wife of mining executive Zhian Zhang, a year after they purchased it for $19.6 million.