SINGAPORE (EDGEPROP) - A two-storey penthouse unit at 88 by JQZ in Sydney was sold for A$10.5 million (S$10.5 million), or A$4,667 psf, breaking the psf price record for the city’s Lower North Shore area, according to property developer JQZ. (See also: Penthouse at Ascentia Sky on the market for $8.28 mil)
The penthouse was sold seven days after it was first launched, to a buyer who already lives in the area.
“Penthouses are a big trend at the moment but there’s a limited supply, particularly in the Lower North Shore. That’s why they are achieving such impressive figures,” comments Denis Wan, managing director of Apex Investment Alliance, who sold the penthouse on behalf of the developer.
“I won’t be surprised if we continue to see record prices, as we have more buyers than penthouses available,” he adds, in a press statement.
Slated for completion in early 2023, 88 by JQZ, at 88 Christie Street, St Leonards, comprises about 700 residential units across two residential towers of 47 and 26 storeys respectively, and one commercial tower of 15 storeys. Residents will be able to enjoy a rooftop pool offering views of the city skyline. Prices for a one-bedroom unit start from A$810,000.
The development sits within an entire precinct that will include 30,000 sq m (322,917 sq ft) of Grade-A commercial and retail spaces, and lifestyle and civic amenities like a public square and library.
Altogether, there will be four two-storey penthouses at the development, located on levels 46 and 47. The units, 220 metres above sea level, will enjoy views overlooking the CBD, Sydney Harbour Bridge and Sydney Harbour.
The penthouse that was sold was the smallest in size of the four.
Standard features of the penthouse units include double-ceiling height in living rooms, double-sided fireplaces, home cinemas, home automation systems and large balconies offering expansive views.
The penthouse interiors are designed by Australia-based interior and architectural firm Henderson and Co, featuring fittings such as marble benchtops with bespoke joinery.
On the impact of the pandemic on the purchase of property, the developer has observed that “people are certainly seeking extra space in the home, as we adopt hybrid office and workfrom-home models. Many people are realising an extra room could be used as a study, home gym or even parents retreat”.
“Many buyers these days are also not only considering their current needs but what their requirements will be 5–10 years in the future, and are looking to make purchasing decisions today accordingly,” adds JQZ.
Penthouse at The Langston going for A$3.3 mil
Elsewhere, in the suburbs of Epping, north-western Sydney, property developer Cbus Property is marketing its final penthouse unit at The Langston at a guide price of A$3.3 million. The two-storey, five-bedroom residence is located on the uppermost floor of the 29-storey Langston Tower.
The penthouse unit of over 2,476 sq ft features two similar-sized master bedrooms with en suite bathrooms on each level. It offers views of the Sydney CBD skyline to the south, and the Blue Mountains to the west, says Adrian Pozzo, Cbus Property’s chief executive officer.
Facilities at the development include a 20-metre pool with poolside cabanas, a gym and yoga studio, and a lounge and dining terrace complete with dining rooms.