LUXURY PENTHOUSES REDEFINE HIGH-END LIVING IN NORWEST
Banksia’s four-bedroom penthouses offer house-like space with single-level convenience, designed by Richard Archer for discerning downsizers.
3 min
A new benchmark for luxury living has arrived in Sydney’s Hills District, with the release of a collection of four-bedroom penthouses at Norwest Quarter, designed by acclaimed architect Richard Archer.
These residences, part of the Banksia building, promise a rare combination of spacious, house-like proportions and single-level convenience. They cater to high-net-worth buyers looking to downsize without compromise.
The Banksia penthouses are located in the Norwest Quarter in Norwest, a leafy suburb in Sydney’s Hills district, about 35 km from the city.
Mulpha, a leading property developer and investment group, developed the precinct to create a sustainable, mixed-use community. It integrates the penthouses with retail, green spaces, and lifestyle amenities within a beautiful natural setting.
“With expansive outdoor terraces, panoramic views, and open-plan interiors, these homes offer a rare sense of space in apartment living,” said Tim Spencer, Head of Development at Mulpha.
“They are designed to maximise light, airflow, and indoor-outdoor living. Each penthouse also incorporates custom finishes, high-end appliances, and adaptable spaces to suit many lifestyles.”
The penthouses boast concealed butler’s pantries, integrated smart home technology, and master retreats.
According to Richard Archer, director of Archer Design, the design challenge was to create a home that feels as open as a house but with the ease of apartment living.
“We wanted to craft a space that brings the outdoors in, with terraces that extend the living areas and maximise views of the Blue Mountains and surrounding landscape,” he said.
Australia is seeing a growing trend of luxury downsizing. Affluent buyers seek spacious, well-appointed apartments that provide high-end amenities without the maintenance of a traditional house.
Long associated with family homes, the Hills District in NSW is seeing an increasing demand for premium apartment living that doesn’t sacrifice space or prestige.
Norwest Quarter’s masterplan incorporates green spaces, sustainable design, and premium lifestyle amenities, including a resident-only mineral pool, fitness facilities, and a private garden sanctuary.
It is also near the Norwest Metro Station and local retail hubs. The Norwest Metro Station provides easy and quick access to the city with direct links to Barangaroo and Chatswood.
Norwest Quarter is Australia’s most ambitious zero-carbon mixed-use precinct, placing sustainability at the forefront of its design.
The spokesperson said, “With 70% of the development dedicated to green spaces, the master plan integrates tree-lined plazas, walking trails, and energy-efficient building design, offering a balance of urban convenience and environmental consciousness.”
For more information, visit norwestquarter.com.au/penthouses
Rising rates, construction inflation and shrinking investor confidence are pushing Australia deeper into a dangerous housing spiral that monetary policy alone cannot fix.
Automobili Lamborghini and Babolat have expanded their collaboration with five new colourways for the ultra-exclusive BL.001 racket, limited to just 50 pieces worldwide.
Office rents in Sydney, Melbourne and Brisbane are climbing at their fastest pace since the pandemic as tenants compete for premium CBD space amid tightening supply.
2 min
Australia’s major CBD office markets are recording some of their strongest rental growth since the pandemic, with businesses increasingly prioritising premium office space despite elevated geopolitical and economic uncertainty.
Knight Frank’s Australian Office Indicators Q1 2026 report found net effective rents in Sydney and Melbourne CBDs rose at their fastest annual pace since COVID-19, increasing 10.2 per cent and 6.8 per cent respectively over the 12 months to March.
Brisbane posted the strongest growth nationally, with net effective rents climbing 11.7 per cent over the same period.
The report points to a widening divide between prime CBD office towers and secondary office stock, as occupiers increasingly focus on quality, location and workplace amenity when making leasing decisions.
Knight Frank Senior Economist, Research & Consulting Alistair Read said demand remained heavily concentrated in premium assets within core CBD precincts, helping drive stronger rental growth in top-tier buildings.
“Occupier demand continues to be heavily concentrated in the most desirable CBD precincts and the highest-quality buildings, accelerating a sharp divergence between core and non-core markets,” Mr Read said.
According to the report, Sydney’s Core precinct and Melbourne’s Eastern Core significantly outperformed broader CBD markets over the past year.
“In Sydney’s Core precinct and Melbourne’s Eastern Core, net effective rents surged 14.3% and 16.1% over the past year, significantly outperforming the rest-of-CBD precincts,” Mr Read said.
The rental gap between prime and non-prime office locations has also continued to widen sharply.
“As a result, core CBD rents are now 54% higher than non-core locations in Sydney and 93% higher in Melbourne, highlighting the growing premium placed on amenity, accessibility and workplace quality,” he said.
Knight Frank said the strong rental growth across the major CBDs was being underpinned by a limited supply pipeline, with few new office developments expected to be delivered in the near term.
Mr Read said subdued construction activity was likely to support ongoing rental growth and tighter vacancy rates over the medium term, particularly for premium office towers.
“The combination of sustained demand and declining levels of new development will aid ongoing prime rental growth and lower vacancy rates over the medium term, particularly for best-in-class assets,” he said.
The report noted that current economic conditions were making new office developments increasingly difficult to justify financially.
“Economic rents remain well above expected market rents, making the construction of new office towers largely unviable, and concentrating tenant demand into existing buildings,” Mr Read said.
While suburban office markets generally remained subdued compared with CBDs, Melbourne’s Southbank precinct was identified as a relative outperformer, recording annual net effective rental growth of 2.7 per cent.
The report comes as broader Asia-Pacific office markets continue to stabilise following several years of disruption linked to hybrid work trends, inflation and rising interest rates.
Knight Frank’s separate Asia-Pacific Q1 2026 Office Highlights report found Sydney and Brisbane were among the strongest-performing office rental markets in the region, behind only Bengaluru and Tokyo for annual prime net face rental growth.
The Asia-Pacific report also found 18 of the 24 cities monitored across the region recorded stable or increasing rents in the first quarter of 2026, even as geopolitical uncertainty intensified following escalating conflict in the Middle East.
Odd Culture Group brings a new kind of after-dark energy to the CBD, where daiquiris, disco and design collide beneath the city streets.
Once a sleepy surf town, Noosa has become Australia’s prestige property hotspot, where multi-million dollar knockdowns, architectural showpieces and record-setting sales are the new normal.
