Over the past few years, we’ve seen an increase in the number of designer renovations coming onto the market in the inner east.
Bringing in big names in the architecture and design world is becoming the done thing for owners wanting to up the ante, and it’s paying off. Whether it’s knocking down some walls to increase floor space, or transforming a private terrace into a six star hotel, these designer renovations have an eye for detail and really pull out all the stops.
A designer renovation obviously doesn’t come cheap, but in a healthy real estate market, the rewards can be there. You may get a better price for your property, as well as the satisfaction of working with some of the best in their field to create a stunning home.
The increasing trend of designer renovations
What differentiates a renovation from a designer reno is, as the name suggests, the input of a designer, whether this be an architect, interior stylist or designer. Something we’re increasingly seeing around this area is high-end renovations, such as 11 and 12/8-10 Billyard Avenue, which was transformed by multi award-winning architects Burley Katon Halliday. It then got a bespoke designer’s touch from Briony Fitzgerald, after the property’s owner Judy loved the soft colour palette and aesthetic Briony brought to London’s Spring restaurant.
Judy said she chose Briony as she loved her distinct style and would never have embarked on a redesign without employing a professional. With Briony’s office on Craigend Street, this proximity to Billyard Avenue also came in handy.
Burley Katon Halliday also lent their talents to another property we sold, 38 Macleay Street, a sub-penthouse apartment housed in the Dorchester building. Another prestigious collaboration was 21/10 Wylde Street, courtesy of SJB Architects and boutique interior design firm arnoldlane.
Why they’re worth the investment
Working with top architects and designers will give your property a signature look, one which many buyers are willing to pay more for, as we’ve seen with our sales.
These professionals also come equipped with years of experience and specialist knowledge, as well as an eye for detail. They’ll know what’s possible and what won’t work in your space, and this is invaluable knowledge that can save you both time and money. They’ll be up on the trends and know exactly what striking additions will add value and appeal.
For instance, Judy said that her apartment’s high ceilings instantly ruled out some lighting options, with Briony able to offer more suitable suggestions from the get go.
This customised, bespoke approach, where the characteristics and appeal of the individual property are taken into account, result in a great renovation rather than a one-size-fits-all renovation.
Effect on the property market
This commitment to investing in your property shows confidence in the market, and this will trickle down to potential buyers as well. Generally speaking, people aren’t overcapitalizing in this area, but to avoid this slippery slope, make sure you get advice from a local agent on how to spend.