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Racehorse owner wins big on $9m Warrawee property

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He’s used to winning out on the track, so it’ll be a familiar feeling of celebration for high-profile racehorse owner Greg Kolivos, who has secured close to $9 million for his palatial Warrawee trophy home.

Kolivos and his wife Donna are the owners of champion colt Pierro, who won the 2012 Golden Slipper and amassed more than $4 million in prize money during its career and was sold to a breeding conglomerate for a rumoured $30 million in 2013.

The Kolivos’ listed their sprawling estate at 21-23 Warrawee Ave in October last year with $10 million hopes, however, the price guide was later adjusted to $9 millón.

Agent Chana Scotcher, of Chana Scotcher Realty, who sold the home in conjunction with Darren Curtis from Christies’ International, would not comment on the property’s sale price, however, it is said to have sold for close to the $9 million asking price to local buyers from Chatswood who have a son at nearby Knox School.

Scotcher notes that the sale is a further indication that the north shore market is continuing to perform well, with interest coming from locals, internationals and expats for the home.

The luxury, Georgian style six-bedroom house sits on an impressive 3776sqm block that includes Peter Fudge-designed gardens, a heated pool and championship tennis court.

Inside it includes all of the usual high-end appointments, such as a lavish billiards room, entertainer’s pavilion, palatial main suite, gym, five-car garage and a state-of-the-art home smart system.

The Kolivos’ bought the property in 2007 from medico Tom Wong and his wife Deborah for $6.6 million and have carried out extensive renovations since.

After their own son finished up at Knox School, the family made the decision to spend more time at their acreage in Dural to be closer to their horses.

The sale has smashed the previous $6.6 million record for the prestigious street, set by the Kolivos’ home, but is shy of the suburb record of $11.5 million set just around the corner at Chilton Parade in 2010.

Cómo tomar la mejor foto posible con su iPhone

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This is supposed to be the land of the quarter acre block, where the average Aussie lives in a three-bedroom freestanding house.

So why, all of a sudden, has the micro-apartment become so fashionable?
When did small suddenly become big?

There are obvious logistical and practical reasons why small apartments are becoming popular. As populations in cities continue to rise something has to give, and increasingly that’s becoming the size of our homes. So there are simply more small apartments being built.

Australians are used to enjoying larger apartments than in most parts of the world, but that’s changing.

According to census data, between 2006 and 2011 there was a 15% jump in the number of studio apartments, up 5,000 a 37,600. Most of these studio apartments are in our big city centres, like Darlinghurst, Elizabeth Bay, Rushcutters Bay or Potts Point in Sydney, Carlton in Melbourne, West Perth, Brisbane’s Fortitude Valley, or Adelaide’s New Port.

Given that less space usually (but not always) means cheaper prices, small apartments can be a way to get a foot on the property ladder while living in a prized central location.

But the notion of ‘cheap’ is relative. The entry-level median price for studio apartments in inner Melbourne is over $300,000, which buys you just 34 square metres on average.
An international trend

The popularity of small apartments is not unique to Australia – in fact it’s being driven internationally, especially in mega-cities where space is at a premium.

While the current minimum size for an apartment in New York is 400 square feet (o 37 square metres) Mayor Bloomberg has rolled out a pilot programme to allow smaller apartments in New York City – from as little as 25 square metres.

Many Australian developments are keen for unit sizes to be reduced here too.

You only have to glance at an Ikea catalogue to know that Europeans often live in tiny studio apartments. And Asia has long understood the practical need for small apartments to house large populations in small spaces.

Long before the local hipsters got their tiny architect designed crash pads, Tokyo was home to the amazing Nakagin “Capsule” Tower, constructed from a series of space age pods designed by architect Kisho Kurokawa in 1972.
So tiny just got cool

Some lovers of small apartments have a green approach – less space, less stuff, less carbon footprint. Others see it as a reaction against the excesses of the McMansion’s of suburbia.

Travellers and students are sometimes happy making do with a tiny crashpad because they’re rarely home.

We’re also staying single longer, and having kids later in life so we can often make do with smaller spaces.

But one of the big drivers of the small apartment craze is the design factor.

Tiny apartments have been getting a lot of attention because they’ve become uber-hip with the design brigade. Architects, interior designers, DIYers and others are catching on to the fact that living small, creates a design challenge which means you can come up with creative ways to incorporate storage and functionality.

Some designers are even capturing the small market, seeing it as a great way to showcase their skills.