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By Michael Marquette
From his blog: Australia’s most expensive apartment SOLD in Potts Point
Potts Point in Sydney has achieved Australia’s record apartment price with a $20 million penthouse sale.
An undisclosed “prominent Sydney businessman” bought the apartment off-the-plan after the Sydney City Council approved the development on Monday.
The two-level penthouse, with views across Woolloomooloo Bay towards the central business district, Sydney Harbour and the Opera House, will have 530 square metres of internal space and 115 square metres of balcony.
The Wylde Street sale trumps an $18.2 million off-the-plan penthouse sale in East Melbourne and the $16.8 million Sydney record sale in Macquarie Street’s Bennelong block earlier this year.
The Ashington Group, chaired by mortgage broker Mark Bouris, bought the development site for $15.5 million last year, indicating it viewed Potts Point as one of the true urban villages of Sydney.
“The sale was a sign that buyers will act quickly for distinctive apartment product,” Ashington’s director, Craig Minahan, said yesterday.
The design by architects Tzannes Associates echoes the curved glazing and copper roofing in the neighbouring 1930s heritage-listed Wyldefel Gardens residential complex.
The nine apartments included in the development with the penthouse will have interiors by fashion designer Alex Perry.
Interestingly, the Australian newspaper incorrectly quoted the apartment as being in Point Piper, not Potts Point.
Michael Marquette is the co-Founder and Director of Marquette Turner Luxury Homes, a member of Luxury Real Estate in East Sydney, New South Wales, Australia. Founded on Australia Day 2007 by Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Marquette has a background in medicine and a large retail and wholesale business. Marquette and Turner just can’t stop providing excellent content like this for the Luxury Real Estate Blog. People are still interested in purchasing luxury properties for the right price. Keep looking for good news and you’re sure to find it.
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