21 Bali Ave, Palm Beach
A beachside designer home brought to life by a unique crowdfunding-inspired development model was snapped up sight unseen by an interstate buyer.
The $3.82m sale under the hammer was the highest recorded price for a non-waterfront home in Palm Beach.
Named SOHO House for its contemporary New York-inspired design, the four-bedroom, three-bathroom home on a 506 sqm lot at 21 Bali Ave was marketed by McGrath agents Andy Hogarth and Josh Willatt.
It was the latest project by husband-and-wife team Alex and Toby Donelan, of Your Unfiltered Reno, who tap a network of backers each investing between $25,000 and $1m-plus and sharing in profits once the home is sold.
Modern street appeal
Mr Hogarth said the Sydney-based buyer was holidaying in Bali on the date of the auction, dialling in with a knockout opening bid of $3.45m which was equal to an offer they had placed earlier during the campaign.
“Straight away they knocked out one of the other buyers who were thinking around $3.5m,” Mr Hogarth said.
“We had another two parties who were very interested, but both wanted to sell their own properties first.
“This was a very strong result which clearly shows buyers are seeing value in turn-key properties where they are able to move straight in with no work to do.”
French windows and a cosy fireplace in this beautiful lounge area
While sight-unseen sales had dwindled since the restrictions of the pandemic, the buyer had conducted a series of virtual tours of the property.
“He knew the home was going to auction when he was overseas on holiday and he didn’t want to miss out,” Mr Hogarth said.
“So while he hadn’t viewed the house personally, he had his friends hook up some pretty intense Facetime walkthrough videos which showed as much detail of the property as possible.”
The sale easily eclipsed the Palm Beach median house price of $1.76m, which was up 6.7 per cent over the past 12 months.
Luxury finishes throughout including a custom steel and timber staircase
Completed over seven months, SOHO House was the Donelans’ fourth project and followed another record-breaking Elanora renovation that sold for $3m.
They secured the site off-market for $1.7m in September 2023, selecting the organic modern style for its timeless yet progressive appeal.
The spectacular new build embodied the on-trend ‘organic modern’ style, blending sleek lines with natural , textural elements for warmth and simplicity.
In contrast to Hamptons or modern coastal, organic modern favours earthy materials — stone, timber, and rattan — woven into an airy, open-plan design.
The kitchen with its 3.6m waterfall stone island bench is a showstopper
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Tyrolean render and walnut joinery set a calming tone, while engineered timber floors, plush wool-blend carpets, and 2.7m ceilings across two levels enhance the home’s sense of scale.
“We never like our projects to be too cool, but rather, something that is timeless and elegant, whilst still appealing to the Palm Beach market – which is rather cool in itself,” Ms Donelan said.
“We want to drive past our projects in the years to come and say, ‘It’s still so beautiful’, not, ‘it’s outdated’.”
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