A luxurious penthouse has sold off-the-plan in Balmoral for $2.8 million, in a deal the agent says is a sure sign the prestige apartment market is looking pretty sweet.
The Courier Mail understands that the penthouse has sold to a young professional couple with local business interests.
Place Kangaroo Point agent Simon Caulfield said the penthouse was one of only three residences within the boutique development at 47 Collings Street.“We didn’t expect to sell it to a couple as young as they are,” Mr Caulfield said.
“They wanted that space and those views … they have their own pool and terrace.”
The building is being developed by ZD Projects, with construction expected to be completed before Christmas.
Each residence has been designed with a “dual personality”, balancing “contemporary opulence … with supreme functionality”.
Each apartment has soaring high ceilings, large outdoor terraces and modernist themes, including an emphasis on open living.
There are three bedrooms in each residence, each with private walk-through robes and ensuites with brass fittings, freestanding bathtubs, and beautiful tiling.
The showpiece kitchens will have a full suite of Miele appliances, timeless joinery and will feature stone and tiling, with each unit boasting two or three car accommodation side-by-side within the secure garage and direct lift access.
There is also a private wine cellar for each apartment, with the remaining residences on the market for $2 million and $2.5 million respectively.
Mr Caulfield said Balmoral was known for having high-net worth individuals and flashy houses, but luxury apartments were not as common.
He said another apartment in an older building nearby had sold for $3.35 million last year, suggesting there was a hunger for quality units in the prestige suburb.