RESIDENTIAL PROPERTY

$150m penthouses collection up for grabs

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A COLLECTION of luxury penthouses in Sydney, Melbourne, Brisbane and the Gold Coast worth an estimated $150 million has hit the market to tempt local and global high net worth individuals.

The portfolio represents the latest expansion for CBRE’s residential business with a focus on the luxury market.

The initial offerings include the Supernova penthouse, on the 97th floor of Australia 108, plus Melbourne Square’s Couture Series – while in Sydney, there is Le Chateau atop the Castle Residences, Manly’s Shoreline penthouse and King & Phillip in Sydney’s Hyde Park precinct.

Also included in the collection are south east Queensland offerings such as 443 Queen St in Brisbane, the Maya penthouse at Kirra Beach and the Elysian North penthouse at Broadbeach.

CBRE residential chairman Justin Brown said the new line has been launched in response to growing international interest in luxury Australian residential property.

“We have seen mounting interest from prime purchasers looking to buy in various international locations and this collection is the first of its kind to showcase a comprehensive Australian selection of prime and trophy assets, which we believe will be highly sought after,” he added.

Brown commented that the “planets had aligned” for prime property in Australia this year, due to the devaluation of the Australian dollar, unrest in Asia and the dramatic improvement in the premium residential market – establishing Australia as an investment haven.

The latest Knight Frank research found five Australian cities are amongst the top 30 top performing prestige property markets globally.

Four Australian cities (Sydney, Melbourne, Brisbane, Gold Coast) recorded growth higher than the global average annual prime price growth of 1.1% across 45 cities.

Sydney ranks 17th (2.6% annual growth), Melbourne ranks 21st (2.0%), Brisbane ranks 22nd (2.0%), the Gold Coast ranks 26th (1.3%) and Perth ranks 30th (0.7%).

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