A penthouse in one of Australia’s tallest residential buildings has been sold for a record A$25 million to an unnamed businessman from China.
At A$33,000 psm, the 750 sqm penthouse may be the most expensive apartment ever sold in Australia.
The unit is spread across the entire top floor of the future Australia 108, which is being built by Aspial Corporation Limited’s property arm, World Class Land. Set to be completed by 2019, the Melbourne development is set to be the tallest tower in the Southern Hemisphere.
In a filing to SGX, Aspial said the penthouse sale was negotiated by CBRE and KM Sales & Marketing.
Andrew Leoncelli, Managing Director, CBRE Residential Projects, said that over 90 percent of the 1,105 apartments at Australia 108 found buyers.
“The extraordinary sale of the Australia 108 penthouse sets a new benchmark for pricing, breaking all records ever set in Australia. It is by far the most opulent, landmark and exciting trophy apartment ever brought to market.
“The penthouse’s record-breaking price highlights the incredible depth of interest we have seen for our luxury apartments set above the clouds in this iconic development,” he shared.
Aspial revealed that Australia 108 is divided into two types of apartments – 161 Cloud Residences above the Star Club and 944 apartments below.
Only 25 percent of units at Cloud Residences remain available for sale less than two months after the project’s official launch in Australia.
“Interest is still high, with buyers recognising there are now limited opportunities to own a piece of this iconic building. We still have some sub-penthouses left for sale and anticipate interest in these will heighten following the penthouse sale,” noted Leoncelli.
Australia 108 represents Aspial’s maiden entry into the Australian market. It will be followed up by a second Melbourne residential tower set for launch at A’Beckett Street later this year.
Image: The penthouse’s living area. (Source: ABC Online)
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
