Palatial penthouse on Sydney’s north shore expected to break records
A landmark Mosman penthouse poised to set a new apartment record with its sweeping views, curated interiors and private wellness retreat.
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A palatial penthouse on Sydney’s Lower North Shore – complete with its own wellness studio – is set to smash the apartment record north of the bridge if it achieves its $30 million asking price.
It’s just a touch over the current local benchmark of $28.25 million with the recently reported sale of a house-sized apartment at Kurraba Residences in the little-known suburb of Kurraba Point.
The impressive price tag for the Mosman penthouse comes down to the vast 570sq m footprint of the yet-to-be-built residence atop the $200 million Amara project on bustling Military Rd in Mosman.
Developer Dare Property Group has engaged DKO Architecture to create the 26-residence block, with penthouse interiors curated by award-winning designer, Fiona Lynch.
Danny Avidan, founder of Dare, said the Amara penthouse reflects the culmination of carefully cultivating design-led living philosophies that prioritise wellness and quality.
“The Penthouse at Amara is an exercise in quiet luxury – a home that feels deeply personal, contemporary and enduring,” he said.
“Our vision has always been to deliver residences that go beyond aesthetics, creating spaces that nurture well-being and longevity. The Amara penthouse sets itself apart as a singular whole floor residence, with never to be built out views.”
The decadent five-bedroom home on the seventh level of Amara has a panoramic backdrop that extends from Sydney Harbour through the Heads to the Pacific Ocean horizon.
Curated with handpicked finishes, there are Travertine and solid oak floors, polished plaster walls and ceilings, with bronze Pittella door hardware and custom joinery.
The sophisticated kitchen features Wolf cooking appliances, Sub-Zero refrigerators and Blum hardware, while the five bathrooms each have Rogerseller fixtures, smart toilets, and natural stone surfaces.
Expansive sliding doors allow the living spaces to flow through to large terraces that capture the iconic views, bespoke landscaping, natural light and ocean breezes.
A major drawcard of the glamorous penthouse is also its private wellness retreat, a rare apartment inclusion that features a sauna and a yoga or pilates studio. Additionally, there is a unique wine display wall and parking for five cars.
Beyond the grand penthouse, Amara offers 7 two-bedroom and 18 three-bedroom homes, along with resident-only luxuries such as a discreet concierge service for home maintenance, car detailing, personal chef experiences, and wellness treatments. Even the lobby makes a great first impression with an artwork by artist Ben Mazey.
In Mosman’s evolving high street precinct, Amara will be home to a 1600 sq m public wellness and retail hub, promising to be the first of its kind for the affluent Lower North Shore suburb.
“There has never been a lifestyle-focused high street address in Mosman quite like this before,” Avidan added.
The project is within walking distance of Mosman’s designer boutiques, popular eateries, clifftop trails, Headland Park, Sirius Cove and Balmoral Beach.
Construction is scheduled to commence next year, with completion anticipated by the end of 2027.
The Amara Mosman penthouse display suite, located at 555 Military Rd, Mosman, is now available for private appointment through The Agency and Colliers.
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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.
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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.
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