Ensure you never miss an issue of the
real estate business bulletin
Apartment could fetch record $24m

Apartment could fetch record $24m

by Nick Bendel 0 comments

Melbourne may be about to snatch the mantle of being home to Australia’s most expensive apartment from Sydney.

Dingle Partners managing director Anton Wongtrakun is conducting the sale of an East Melbourne apartment with a listing price of US$20 million ($23.8 million).

Mr Wongtrakun told Real Estate Business that the property was listed in US dollars to capitalise on expected overseas interest.

An apartment in Bondi claimed the title of Australia’s priciest apartment last month when it sold for $21 million.

Inquiries for the East Melbourne apartment, which is on the eighth floor of 150 Clarendon Street, have come from China, Hong Kong and the UAE, Mr Wongtrakun revealed.

“We believe that the price we’re quoting would be in the minimum price point, but ultimately, it’s up to the market to decide,” he said.

Mr Wongtrakun said the apartment was hard to value, because no comparable property had ever been sold. The result of combining three apartments, it features six parking spaces, seven bedrooms, eight bathrooms, alfresco terraces, a cinema room and full-height library.

It also offers 180-degree views of Melbourne, including the CBD skyline, Fitzroy Gardens and Port Phillip Bay.

Mr Wongtrakun said he had won the listing because he had previously worked with the client, and Dingle Partners had been the exclusive marketing agent when the apartment block was built six years ago.

“We’re waiting on final documentation to come through, and then all parties that have expressed interest will be given that, to present their position, then we’ll give that consideration over the next month or so,” he said.

Source: Dingle Partners

Source: Dingle Partners

Source: Dingle Partners

Source: Dingle Partners

Source: Dingle Partners

Source: Dingle Partners

 

Source: Dingle Partners

Source: Dingle Partners

Apartment could fetch record $24m
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?