This article is from the Australian Property Journal archive
DEVELOPER JQZ has sold the first penthouse within its new $1.6 billion St Leonards project just seven days after its release, setting a new record per sqm rate for the Lower North Shore.
The buyer, a local, had been in the market for more than eight months and splashed out $10.5 million for the penthouse. The 88 by JQZ residential precinct, currently under construction at 88 Christie Street, will ultimately feature four penthouse. The 209 sqm penthouse that sold is the smallest.
“We understand the buyer had been actively seeking a penthouse for some time, however they were blown away with the quality, views and convenience of this offering,” selling agent, managing director of Apex Investment Alliance, Denis Wan said.
“It’s not surprising, as having worked in this industry for 28 years, I can honestly say it’s one of best penthouses I’ve ever seen with its luxury finishes, two-storey living area and breathtaking views of the Sydney Harbour Bridge.
“We know that this standard of offering is extremely unique and not to be repeated any time soon, and whilst the $52,239 per sqm price sets a new benchmark for the area, this penthouse really does have it all, with its access to the shopping precinct below, connections to the railway station, unparalleled convenience and security.”
However, Wan and his team were surprised by how quickly the buyer moved to secure the luxury property.
“The sales contract was exchanged in just seven days from when the penthouse was unveiled to a select group of potential buyers at an event on Friday 11 June, so this buyer certainly didn’t waste any time.
“Penthouses are a big trend at the moment but there’s a limited supply, particularly on the Lower North Shore. That’s why they are achieving such impressive figures.”
“I won’t be surprised if we continue to see record prices, as we have more buyers than penthouses available.”
The two-storey penthouses will be positioned on levels 46 and 47, 220 metres above sea level, atop the triple-tower urban transformation precinct, and includes two residential towers of 47 and 26 storeys, and one commercial tower of 15 storeys, designed by PTW Architects.
The entire precinct will include 30,000sqm of A-grade commercial and retail space, lifestyle and civic amenity, convenience retail, full-line supermarket, Eat Street, public square and library.
With the building perched on a ridge, the four-bedroom penthouses will enjoy the highest elevation of any residences on the north shore, with views over Sydney CBD, Sydney Harbour Bridge and Sydney Harbour.
They will all feature double-height ceilings in living rooms, home cinema rooms, and large balconies. Interiors ware designed by Angus Henderson from Henderson and Co.
Jian Qiu Zhang, founder and managing director of JQZ, said the penthouse will offer unparalleled views, being at the highest point of living, from an altitude perspective, until the Gold Coast in Queensland.
“From their vantage point, looking back towards Sydney’s CBD, these penthouses will have views ranging from the top of the Sydney basin, right out through the Sydney Heads.”
