This article is from the Australian Property Journal archive
A NEW price record for apartments in Melbourne’s bayside suburb of Brighton has been set, after a four-bedroom off-the-plan penthouse in Kervale’s ESSENCE project sold for $10.2 million.
The Boutique property developer’s apartment offering has not only broken the sale price record for the affluent suburb, surpassing the previous $8.2 million record from 2019, but the current Brighton sqm rate record.
At $22,000/sqm, the penthouse sale smashes the previous benchmark achieved in August last year for a five-bedroom house at $19,000/sqm.
“The four-bedroom penthouse is the jewel in the crown; it has all the elements often reserved for an expansive house and truly is the epitome of luxury living in Brighton,” said Michael Ryan, sales director at Kervale.
The penthouse offers the local buyer from nearby Hawthorn a private rooftop and swimming pool with views of the Melbourne CBD and the bay, while the new owner will also work with designers at Bruce Henderson Architects and Kervale to add bespoke and personal touches to the space.
“Having made the decision to move from my current apartment, I spent some time carefully evaluating the various options that were available in the Inner City and Bayside areas of Melbourne; it was obvious that ESSENCE provided a number of truly unique factors and features,” said the buyer.
ESSENCE, which launched back in April, comprises 22 residences evenly split across two buildings, with amenities including a wine cellar, residents lounge area, private dining room, kitchenette, billiards table, and private gym and yoga studio.
“The idea behind the design was to be able to provide people with large homes to be able to downsize but still have the facilities they’re used to. In some cases they haven’t experienced this level of comfort before,” said Graham Morrison, managing director and corporate director of Bruce Henderson Architects.
Further amenities in the parking area include electric vehicle charging points, pet grooming facilities, bicycle storage, golf club lockers, and a car washing station.
18 of the homes include of two or three bedrooms, two bathrooms and two car parks, while the remaining two penthouses boast three bedrooms, three bathrooms and three car parks.
ESSENCE is currently under construction and is scheduled for completion in early 2023, with remaining apartments priced from $1.495 million and penthouses from $3.5 million.
