Brighton beachfront project sets new Victorian off-the-plan apartment record
Two penthouses have eclipsed the previous Victorian benchmark for off-the-plan apartment sales, highlighting demand at the top end of Melbourne’s prestige market.
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Two penthouses at a luxury beachfront development in Melbourne’s Brighton have set a new Victorian benchmark for off-the-plan apartment sales, with the transactions achieving a blended internal rate of almost $50,000 per square metre.
Developer-builder Lowe Living said the sales at its $160 million Maison Savoy project achieved about $49,926 per square metre, surpassing the previous identified Victorian record set by Como Toorak in 2025, which transacted at $46,659 per square metre, according to Cotality data.
The record comes less than two months after Maison Savoy launched to market, with around 30 per cent of the project’s residences already sold and about $45 million worth of apartments transacted.
Two of the development’s three penthouses have now been secured by buyers.
Located on the site of the former Brighton Savoy Hotel at 150 The Esplanade, the project will comprise a collection of house-sized apartments overlooking Port Phillip Bay.
Residences range from 295 square metres and have been positioned as an alternative to prestige beachfront homes for buyers seeking a lock-up-and-leave lifestyle.
The project is being developed by Lowe Living, which recently marked its 10th anniversary and now has a development pipeline exceeding $1 billion, alongside a $350 million construction pipeline.
The development also reflects a growing emphasis on wellness amenities in the luxury apartment market.
Planned facilities include a private residents’ bathhouse featuring hydrotherapy pools, a sauna, steam room, salt room, cold plunge and treatment spaces, alongside a Technogym studio, concierge services and residents’ lounge.
Construction began earlier this year and is expected to be completed in early 2028. One penthouse remains available for sale, along with a limited number of two- and three-bedroom residences starting from $3.75 million.
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Mirvac’s 45-level Trielle has topped out at Yarra’s Edge, pairing riverfront apartments with wellness facilities, private dining and resident services.
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Mirvac has topped out Trielle at Melbourne’s Yarra’s Edge, with more than 70 per cent of the riverfront development sold and approximately 80 per cent of purchasers intending to make their apartment a home.
The figures, released on September 22, point to an owner-occupier audience for one of the precinct’s final residential towers. Mirvac began developing Yarra’s Edge in 2003, and its latest addition occupies one of the remaining absolute riverfront sites.
Mirvac CEO of Development Stuart Penklis said existing residents were among those moving up within the neighbourhood.
“Many purchasers already have a connection to Yarra’s Edge,” Mr Penklis said, describing buyers whose changing needs were encouraging an upgrade within the precinct.
“As one of the final residential towers within Yarra’s Edge, Trielle represents the culmination of more than two decades of creating one of Melbourne’s most established and sought-after waterfront communities,” Penklis said.
“Positioned on the Collins Street axis with absolute river frontage, Trielle offers residents a rare opportunity to enjoy sweeping views across the Yarra River, Melbourne skyline and Port Phillip Bay, while remaining seamlessly connected to the CBD. With Trielle now more than 70 per cent sold, we’re continuing to see strong demand from buyers seeking quality homes in established locations.”
The developer also flagged a penthouse and sub-penthouse collection with larger layouts, premium finishes and broad outlooks. The planned wellness centrepiece, The Oasis, encompasses a 900-square-metre elevated urban rainforest.
Mirvac General Manager Residential Development Victoria Elysa Anderson said Trielle had resonated strongly with buyers seeking a rare lifestyle offering in Melbourne.
“Opportunities to secure a new luxury residence on a riverfront site of this calibre are incredibly rare, particularly within a community like Yarra’s Edge,” Anderson said.
“What makes Trielle unique is the combination of exceptional views, world-class residential facilities and the lifestyle that already exists around it. Residents are buying into a mature waterfront community with parks, promenades, dining, wellness and strong community connections already in place.”
The 45-level tower brings a substantial new presence to that waterfront. Its residential offering spans one-, two-, three- and four-bedroom apartments, with Signature, Prestige and Sub-Penthouse collections accommodating different household sizes. The north-facing position connects the apartments visually to the river and city beyond.
Seven storeys above the promenade, the planned Oasis combines planting and a running stream with a Scandinavian-inspired wellness club developed with spa specialist Naomi Gregory. Facilities include a 25-metre lap pool, hot magnesium pool, sauna, hydrotherapy, a gym, yoga and Pilates room, and treatment spaces.
The amenity extends beyond exercise. Residents will have access to The Biblioteca library and workspaces, ground-floor work pods, and The Salone piano lounge. A private Chef’s Table dining room offers a setting for larger gatherings, while a cinema, games room and sports lounge broaden the entertaining options. Concierge services and a dog-wash area support everyday routines.
Trielle comprises a collection of one, two, three and four-bedroom residences. Reflecting strong demand from owner occupiers, approximately 80 per cent of purchasers to date intend to live in their homes, highlighting the project’s appeal to those seeking a long-term waterfront lifestyle.
Mirvac has recently delivered The Albertine, a premium apartment development on the edge of Melbourne’s CBD, and is nearing completion of Prince & Parade in Brunswick, further strengthening its portfolio of thoughtfully designed apartment communities in some of Melbourne’s most sought-after urban locations.
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