Buying in McMahons Point, July 2004

Buying in McMahons Point – July 2004

Dotted with chi chi restaurants, homewares stores and upmarket boutiques, McMahons Point is no longer a working class suburb on the wrong side of town.
With Blues Point Tower jutting like a grey beacon at the southern end and North Sydney CBD’s office towers swamping the northern end, this peninsula suburb is like a breath of fresh air amongst the high rise.
There is a charming mix of leafy streets with old timber cottages, Victorian terraces and even the odd grand residence, cheek by jowl with 1930s apartments.
Before the Harbour Bridge was built, McMahons Point was one of poorest areas in Sydney and was famous for housing hardworking boat builders, murderers and sly groggers.
Now, Australian Property Monitors says the median house in the peninsula suburb is $1.177 million, with the record price at $9 million for a five-bedroom house on Warung St.
“Parts of Banks St used to be so seedy that there used to be murders there all the time, but these days it costs and arm and a leg to buy anything there,” says North Shore Historical Society president Brian Evesson.
L.J. Hooker McMahons Point agent Jenny Carter says McMahons Point prices took off in the 1980s, as North Sydney’s CBD expanded and people wanted to be close to the city.
Now, the average buyer is a classic empty nester coming from the upper north shore or Mosman who wants to downsize to a low maintenance house which is close to the action.
“These people are happy to spend $2 million on something that is close to restaurants and the city,” she says.
“It is a lot of money for the size of the property, especially when you realise that the same money will get you something on 1600 square metres in Roseville or Pymble.”
She says McMahons Point is similar to other working class foreshore suburbs like Balmain and Birchgrove, with many renovated older style houses on small land sizes of 300 square metres or less.
“Having off street parking can be rare in McMahons Point, so any houses that do have it fetch a better price,” she says.
The eastern side of the suburb is more expensive than the west, with many elevated streets offering prime Opera House and Harbour Bridge views.
Century 21 Blues Realty sales manager Wendy Mason says Waiwera, Bayview and Warung are the premium streets in the suburb.
“Houses on those streets will get good prices because the views they offer are so rare,” she says.
“And houses in general are rare in McMahons Point. I would say only 10 per cent of all thee properties available in the area are freestanding houses.”

7 Dumbarton St
$2.2 million+

This slick three-level house has been carved into a corner block on western side of McMahons Point, and offers a tranquil outlook over Berrys Bay and the water.
Designed by Melbourne architects Neometro, the 180 square metre house is constructed of rendered brick and a mix of stones, including Victorian bluestone.
A gnarled frangipani tree which is believed to be more than 100 years old dominates the sleek stone courtyard, which is accessed through large glass sliding doors.
The entry level has a large open plan living and dining room, which has glass walls and doors to a balcony with water views.
A polyurethane and marble kitchen has a moveable island bench which can be wheeled out of the way to create more informal living space if needed.
The lower level of the house has two bedrooms, each with their own glass doors opening to private walled courtyards. There is also a large laundry and wet bar on this level, as well as a main bathroom with marble and glass finishes.
At the top of the house, there is a main bedroom with sliding wall panels which can be closed to separate the sleeping space from a study or retreat area.
There is a walk-in wardrobe and ensuite bathroom off the main bedroom, which has fantastic water views.
The house has underfloor heating, limestone and timber floors, reverse cycle air-conditioning and a security system.
There is a separate double lock-up garage with access from Victoria Street.

House Three bedrooms, two bathrooms, double garage
Built 2003
Land 224 sq m
For sale by negotiation
Inspect by appointment
Inquiries McGrath Estate Agents 9908 6005, Tower

3 Mitchell St
$1.6 million+

Filled with northerly light and charming original features, this sandstone and brick cottage even manages to snare harbour views over Berrys Bay.
The cottage has been sympathetically renovated and extended from its original four rooms, which are now a formal lounge room, a study and the third bedroom.
There is a modern open plan extension on the ground floor, which has large skylights, lime-washed timbers and recycled joinery.
It contains a U-shaped timber kitchen with modern appliances and a breakfast bar, as well as a casual meals area and family room.
The family room has French doors opening to a level landscaped backyard and undercover terrace.
The outdoor areas are paved with original convict sandstock bricks that have heart-shaped stamps.
The house contains original Georgian windows, Kauri floorboards and high ceilings.
A new timber staircase leads to the second storey, which has a main bedroom, another bathroom and a second bedroom – all of which have dormer windows and views.
There is a private roof top terrace, which overlooks the back garden and has glimpses of the city skyline.
The property has DA-approved plans to create more internal space on the second storey. It also has a security system and internal laundry facilities.

House Three bedrooms, two bathrooms
Built 1888
Land 300 sq m
Inspect by appointment
For sale by negotiation
Inquiries Mark Allan Property Consultants 9449 3777

6 Waiwera St
$1.75million+

A grand row of terraces sits proudly above Waiwera St, staring out at the Harbour Bridge and Opera House.
With only a secure gate and a lock-up garage on the street level, this elevated end terrace is very private.
It has a generous six-metre frontage, with spacious formal rooms on the lower level, including a lounge room with high decorative ceilings and a restored fireplace.
There is an adjoining formal dining room, which also has a fireplace and a doorway into the renovated timber kitchen with Miele appliances.
There is a large laundry and third toilet neatly tucked away and then a light-filled breakfast room which has French doors opening to the paved rear courtyard.
On the second level of the terrace, there is a main bedroom with a balcony and even better harbour views than the first level to include an outlook over Lavendar Bay and Luna Park.
The main bedroom has a walk-in dressing room and a heritage-style ensuite bathroom. There is a second bedroom and renovated bathroom on this level, as well as a staircase to the third level.
There is an air-conditioned loft-style third bedroom with harbour views to the east and district views to the west.
The property has pedestrian access to the rear courtyard and is in walking distance to Blues Point Rd and North Sydney train station.

House Three bedrooms, two bathrooms, garage
Built 1880s
Land 180 sq m
For sale by expressions of interest closing August 19
Inspect Saturday and Wednesday 1.15pm to 2pm
Inquiries L.J. Hooker 9954 6555


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Buying in McMahons Point – July 2004 Dotted with chi chi restaurants, homewares stores and upmarket boutiques, McMahons Point is no longer a working class suburb on the wrong side of town. With Blues Point Tower jutting like a grey beacon at the southern end and North Sydney CBD’s office towers swamping the northern end, this peninsula suburb is like a breath of fresh air amongst the high rise. There is a charming mix of leafy streets with old timber cottages, Victorian terraces and even the odd grand residence, cheek by jowl with 1930s apartments. Before the Harbour Bridge was built, McMahons Point was one of poorest areas in Sydney and was famous for housing hardworking boat builders, murderers and sly groggers. Now, Australian Property Monitors says the median house in the peninsula suburb is $1.177 million, with the record price at $9 million for a five-bedroom house on Warung St. “Parts of Banks St used to be so seedy that there used to be murders there all the time, but these days it costs and arm and a leg to buy anything there,” says North Shore Historical Society president Brian Evesson. L.J. Hooker McMahons Point agent Jenny Carter says McMahons Point prices took off in the 1980s, as North Sydney’s CBD expanded and people wanted to be close to the city. Now, the average buyer is a classic empty nester coming from the upper north shore or Mosman who wants to downsize to a low maintenance house which is close to the action. “These people are happy to spend $2 million on something that is close to restaurants and the city,” she says. “It is a lot of money for the size of the property, especially when you realise that the same money will get you something on 1600 square metres in Roseville or Pymble.” She says McMahons Point is similar to other working class foreshore suburbs like Balmain and Birchgrove, with many renovated older style houses on small land sizes of 300 square metres or less. “Having off street parking can be rare in McMahons Point, so any houses that do have it fetch a better price,” she says. The eastern side of the suburb is more expensive than the west, with many elevated streets offering prime Opera House and Harbour Bridge views. Century 21 Blues Realty sales manager Wendy Mason says Waiwera, Bayview and Warung are the premium streets in the suburb. “Houses on those streets will get good prices because the views they offer are so rare,” she says. “And houses in general are rare in McMahons Point. I would say only 10 per cent of all thee properties available in the area are freestanding houses.” 7 Dumbarton St $2.2 million+ This slick three-level house has been carved into a corner block on western side of McMahons Point, and offers a tranquil outlook over Berrys Bay and the water. Designed by Melbourne architects Neometro, the 180 square metre house is constructed of rendered brick and a mix of stones, including Victorian bluestone. A gnarled frangipani tree which is believed to be more than 100 years old dominates the sleek stone courtyard, which is accessed through large glass sliding doors. The entry level has a large open plan living and dining room, which has glass walls and doors to a balcony with water views. A polyurethane and marble kitchen has a moveable island bench which can be wheeled out of the way to create more informal living space if needed. The lower level of the house has two bedrooms, each with their own glass doors opening to private walled courtyards. There is also a large laundry and wet bar on this level, as well as a main bathroom with marble and glass finishes. At the top of the house, there is a main bedroom with sliding wall panels which can be closed to separate the sleeping space from a study or retreat area. There is a walk-in wardrobe and ensuite bathroom off the main bedroom, which has fantastic water views. The house has underfloor heating, limestone and timber floors, reverse cycle air-conditioning and a security system. There is a separate double lock-up garage with access from Victoria Street. House Three bedrooms, two bathrooms, double garage Built 2003 Land 224 sq m For sale by negotiation Inspect by appointment Inquiries McGrath Estate Agents 9908 6005, Tower 3 Mitchell St $1.6 million+ Filled with northerly light and charming original features, this sandstone and brick cottage even manages to snare harbour views over Berrys Bay. The cottage has been sympathetically renovated and extended from its original four rooms, which are now a formal lounge room, a study and the third bedroom. There is a modern open plan extension on the ground floor, which has large skylights, lime-washed timbers and recycled joinery. It contains a U-shaped timber kitchen with modern appliances and a breakfast bar, as well as a casual meals area and family room. The family room has French doors opening to a level landscaped backyard and undercover terrace. The outdoor areas are paved with original convict sandstock bricks that have heart-shaped stamps. The house contains original Georgian windows, Kauri floorboards and high ceilings. A new timber staircase leads to the second storey, which has a main bedroom, another bathroom and a second bedroom – all of which have dormer windows and views. There is a private roof top terrace, which overlooks the back garden and has glimpses of the city skyline. The property has DA-approved plans to create more internal space on the second storey. It also has a security system and internal laundry facilities. House Three bedrooms, two bathrooms Built 1888 Land 300 sq m Inspect by appointment For sale by negotiation Inquiries Mark Allan Property Consultants 9449 3777 6 Waiwera St $1.75million+ A grand row of terraces sits proudly above Waiwera St, staring out at the Harbour Bridge and Opera House. With only a secure gate and a lock-up garage on the street level, this elevated end terrace is very private. It has a generous six-metre frontage, with spacious formal rooms on the lower level, including a lounge room with high decorative ceilings and a restored fireplace. There is an adjoining formal dining room, which also has a fireplace and a doorway into the renovated timber kitchen with Miele appliances. There is a large laundry and third toilet neatly tucked away and then a light-filled breakfast room which has French doors opening to the paved rear courtyard. On the second level of the terrace, there is a main bedroom with a balcony and even better harbour views than the first level to include an outlook over Lavendar Bay and Luna Park. The main bedroom has a walk-in dressing room and a heritage-style ensuite bathroom. There is a second bedroom and renovated bathroom on this level, as well as a staircase to the third level. There is an air-conditioned loft-style third bedroom with harbour views to the east and district views to the west. The property has pedestrian access to the rear courtyard and is in walking distance to Blues Point Rd and North Sydney train station. House Three bedrooms, two bathrooms, garage Built 1880s Land 180 sq m For sale by expressions of interest closing August 19 Inspect Saturday and Wednesday 1.15pm to 2pm Inquiries L.J. Hooker 9954 6555