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21m-plus apartment breaks records

24 November 2014 Elyse Perrau

Australia’s most expensive apartment has sold for more than $21 million in one of the nation’s most sought-after locations.

Australia’s most expensive apartment has sold for more than $21 million in one of the nation’s most sought-after locations.

Situated in the iconic Sydney suburb of Bondi, the off-the-plan sale is part of the exclusive Pacific Bondi Beach development.

Another penthouse in the complex, purchased by Will Vickers of Caledonia Investments, recently sold for a record price of $21 million.

Residential Property Manager's sister publication Real Estate Business can exclusively reveal that a second penthouse in the development has been purchased for a price “significantly in excess of $21 million", according to a private source who wished to remain anonymous. 

Originally two separate apartments, the planned five-bedroom penthouse was merged into one at the request of the buyer.

While he won't confirm the buyer, McGrath Projects director Steven Chen, who sold the penthouse, said it would be a “world-class apartment” once completed. 

“One of the key features is the 44-metre beach frontage,” he told Real Estate Business.

“It has an infinity pool, a reflection pond, it will have its own maid's quarters with separate access, it will have an internal lift, steam room, butler’s pantry, cinema, library and there will be three living areas.

“It is going to be a customised apartment. I know that the entity that has purchased it and the gentlemen that is associated with that entity is going to make it a world-class apartment,” he added.

Mr Chen said the apartment also boasts 593 square metres of internal space to work with and 304 square metres of external space.

 

21m-plus apartment breaks records
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