A lavish off-the-plan St Kilda penthouse has smashed Melbourne’s apartment price record, selling for $30 million.
The double-storey pad will sit atop one of the buildings in developer Tim Gurner’s Saint Moritz project on the waterfront site of the former Novotel Hotel.
It’ll feature seven bedrooms, four living rooms, two pools, a 1000-bottle wine cellar, and a two-storey cascading water feature.
Marble-clad walls, a sauna, gym, private seven-car garage, direct lift access, a floating fireplace and a solid Nero Marquina bathtub with 180-degree water views will also grace the pad.
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Former Domain boss Antony Catalano snapped up the lavish pad off-market months before the development’s 120 luxury apartments officially go on sale at a slated June launch.
It easily beat Melbourne’s previous $25 million benchmark, set in 2015 by the penthouse in Southbank’s Australia 108 building.
Mr Gurner said he had “no intention of selling” the prized penthouse overlooking the bay and city skyline until the launch, but “once word got out we were swamped with interested buyers”.
The penthouse attracted five interested buyers, all “local Melbourne identities”, two of whom “quickly became very competitive”, he said.
Mr Catalano became interested in the project in December last year, with the sale negotiated over the past few weeks — and the original plans for a six-bedroom plus study layout to a seven-bedroom design.
The penthouse got a price and size haircut late last year, with top-end real estate agents urging an initial 1300sq m floorplan to be revised to 650sq m inside with a 175sq m terrace.
“This penthouse has been designed to be the best in Australia and arguably one of the best in the world,” Mr Gurner said.
“We worked with the successful buyer to design and customise the penthouse … before formalising the sale.”
The purchaser, father-of-eight Mr Catalano, resigned as chief executive of online property portal Domain amid allegations of misbehaviour about a year ago.
Mr Gurner said the sale price was “strictly confidential”, but equated to a whopping $40,000 per sqm and there had been a $30 million asking price.
The Saint Moritz development will transform a 6000sq m site on St Kilda’s The Esplanade that currently houses the Novotel into three eight-storey towers designed by Fender Katsalidis.
Each building will have fewer than 40 apartments, ranging in price from $1.4 million to more than $30 million.
Mr Gurner said a second penthouse would be priced at $25-$30 million and launched as part of the development’s “Penthouse Collection” in the coming months.
“I think we will see a lot more very high end apartment sales in Melbourne,” Mr Gurner said.
The penthouse sale was the first inked by Christie’s International’s new Victorian affiliate, headed by former Marshall White director Sean Cussell.
Mr Cussell said the apartment was “truly … unique and raised the bar in a way the development market has never seen before”.