Apartment sells for record-breaking $21m-plus

Apartment sells for record-breaking $21m-plus

by 4 comments

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.

Now, 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.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How this agent's commitment to clientele built him a 25k-strong client base

In this episode of Secrets of the Top 100 Agents, host Tim Nearly talks to RT Edgar’s Glen Coutinho who ranked number six in this year’...

View all podcasts

How effective are testimonials as a marketing tool?

Not effective at all
Somewhat effective
Very effective
They are the most effective tool there is
Do you have an industry update?