Slow and spectacular wins the race: Meet property developer Richard Stiebel
We’re sitting in the nearly finished living room of Richard Stiebel’s latest Caulfield North development. Sunset Dolomite runs along the kitchen island – the stone he personally flew to Sydney to inspect. The complementary cabinetry and wow-factor windows reflect a builder who never misses a detail. It’s no wonder Richard’s known as one of the best. And today, he’s sharing how he got here. One meticulous project – and one special, long-standing relationship – at a time.
Born, bred and still building in St Kilda East
Raised in St Kilda East by Holocaust survivor parents, Richard’s connection to the area runs deep.
‘I’ve only ever lived within a 2km radius of where I grew up,’ Richard says. ‘That part of Melbourne, I just feel like that’s mine.’
And for anyone familiar with the suburb, it’s not hard to see why.
‘It’s all about community – family, synagogues, local parks, the neighbourhood kids,’ Richard lists. ‘I lived on my bike, always riding over to a friend or family member’s house. It really highlighted the importance of being around loved ones for me.’
However, Richard wasn’t always interested in everything his loved ones were doing.
‘In the late ’60s, my father embarked on a property development career, building flats in St Kilda and Carnegie after spending years as a baker,’ Richard explains. ‘It’s funny. At the time, I was so immersed in school and friendships, I didn’t pay any attention to his career change. It was still just Dad’s work to me.’
One day, that would change. But that day wouldn’t come for quite a while.
Big brands before builders’ tape
Before he ever picked up a hard hat, Richard built a different kind of career.
‘I was always fascinated by brand awareness and product demand,’ he says of his marketing degree at the Chisholm Institute of Technology (now Monash). ‘I enjoyed my studies. In fact, when I graduated, I felt quite confident that I’d have a career in marketing for many, many years.’
And he did.
‘I worked with a few multinational organisations over the years, which was a great experience,’ he recalls. ‘It gave me great exposure and taught me a lot of the core skills I’ve built my property career around. Things like product development, brand and sales distribution, communication, the list goes on.’
Still, corporate life had a shelf life.
‘As I got a little bit older and started a family, I developed reservations about whether the corporate world was the right fit for me.’
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A father-son foundation
Then, Richard’s father came to him with an idea.
A lull in the property market and the beginning of a new project created a ripe opportunity for the father-son duo to finally try their hand at business together – after years of merely thinking about it. That’s how Harrich Homes was born – a name that blends Richard’s name with his father, Harry’s.
As Richard remembers their time working together, he laughs.
‘He was 79, very old school, not keen on changing his ways. I just observed, asked questions, and soaked up as much as I could.’
That experience left Richard with two key lessons he still carries today.
‘The first was to build a good rapport with your trades so that they’re eager to work for you and deliver a good outcome,’ he explains. ‘The other was to maintain good working relationships with real estate agents.’
Speaking of real estate agents…
Auctions and old friends
‘Phillip Kingston and I go back 40 years,’ Richard begins, smiling. ‘We met well before we started working together, and that’s what makes sharing my success with him today even more special. But not as special as our shared passion for croissants!’
Just as he finishes his sentence, the front door swings open. In walks Phillip himself. Grin wide, arms outstretched.
‘This man is the best in the business,’ Phillip declares, wrapping his arms around Richard. ‘And one of the few blokes who’s always up for a hug!’
Richard and Phillip’s connection has now extended to their wives, and the four have been close friends ever since. So, if you’ve spotted them at your local wine bar sampling the latest drops, that’s pretty standard behaviour.
‘If I had to summarise my friendship with Richard, I would say that he’s the sort of guy who you can ring up for help, and he would be there for you in a heartbeat,’ Phillip continues, while Richard shifts uncomfortably under the praise.
And that connection continues through business.
The proof is in the partnership
Richard’s relationship with Gary Peer & Associates runs deep.
Richard consults with Phillip during the concept design stages of his developments, gaining valuable input, while Phillip helps to bring the developments to market.
‘When Gary and I look back at the beginning of our journey, when we were the smallest agency on the planet, it was people like Richard who were there for us,’ Phillip reflects. ‘In fact, Richard was one of our very first clients.’
The gratitude is mutual.
‘Phillip and Gary have always taken a genuine interest in my success,’ Richard says. ‘They care about these projects; they push themselves to deliver the best outcome. I’ve experienced great results thanks to their commitment to the industry.’
But it wasn’t just Phillip and Gary…
‘I’ve also worked with Limor Herskovitz for over a decade,’ Richard continues. ‘She’s incredible, and has since become a great friend, too.’
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One builder, one project, full focus
One thing that distinguishes Richard from all the other property developers in the area – aside from his premium quality? He only takes on one project at a time.
Much to Phillip’s dismay.
‘If I had it my way, he’d work on six at once,’ he jokes.
‘The most significant reason for this philosophy is work-life balance,’ Richard responds. ‘Having grown up in a tight-knit, small family, spending time together was always important. And that’s something I want to have with my family as well.’
He’s had opportunities to scale. He’s chosen not to.
‘No partners. No volume builds. That was never how I worked,’ he continues. ‘So, I became a master of the smaller townhouse projects.
‘And, as time has gone by, the demand for that exact property type has only grown.’
Eskdale elegance, by design
22 Eskdale Road is a masterclass in intention – and the perfect display of Richard’s expertise.
‘I wanted a north-facing backyard, because the downsizer purchaser is more discerning,’ Richard says.
Every element is considered, including an oversized walk-in robe, four bedrooms with four en-suites, separate living zones and even a lift. But one of the main standouts to us? Definitely the master bathroom.
‘Those tiles are from Italy, and I believe we’re the first people in Melbourne to use them,’ Richard says. ‘It’s always special to witness someone’s first reaction to that bathroom, because being here every day, I sometimes take for granted how beautifully it’s all come together.’
Which is, in large part, thanks to his long-term collaborators: architect Raphael Schlesinger of JRSconsult and interior designer Rina Cohen of RCI Designs.
‘I’ve worked with Raphael on my last two projects, and he’s been instrumental in their design,’ Richard praises. ‘Rina and I have worked together for nearly 20 years, and in that time, she’s never stopped evolving.’
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The legacy’s in the details
As for the future? Richard’s taking it one project at a time – as per usual.
‘Until I sell the one I’m working on, I won’t start looking for the next,’ he says.
Viable sites are hard to find, and the cost of building has skyrocketed. But Richard knows his audience – and that’s everything.
‘Downsizers are getting younger. They want quality, light and function. And they want something that’s unique and different.’
That’s where Richard steps in.
‘The ultimate goal is to create a high-quality residence that I can be proud of. Something the market hasn’t seen before. And that’s exactly what I’m collaborating with my architect and interior designer to deliver.’
So far, so good, Richard.
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