Top Three Melbourne Penthouses For Sale
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Three Melbourne Penthouses For Sale

A look inside the pinnacle of Melbourne’s luxury apartment market.

By Terry Christodoulou
Tue, Jun 8, 2021 4:15pmGrey Clock 3 min

True to form, Melbourne’s luxury penthouse market is awash with effortlessly appointed elegant abodes.

Here, we’ve collated three of the best on the market right now.

Level 59, Aspire Residences, 299 King Street, Melbourne

Arriving in timeless style is this full-floor 5-bedroom, 5-bathroom, 4 car garage residence. Located above Aspire Melbourne, the upper-most 14 levels are dedicated to some of the most luxurious apartment living on offer, with level 59 – listed here – offering the full floor.

Uninterrupted views of Flagstaff Gardens, Melbourne CBD, Port Phillip Bay and beyond are at hand, while the residence’s central location puts it at the fingertips of the best Melbourne has to offer.

Inside, cutting-edge contemporary style permeates the 639sqm apartment, which has been designed by acclaimed interior architect David Hicks. Here, the lift opens to the apartment’s private lobby and formal lounge, dining room, cocktail lounge,  complete with a fireplace.

The open plan kitchen arrives with the butler’s pantry and includes top of the range Gaggenau appliances and fully integrated Sub-zero refrigeration.

Elsewhere the master bedroom offers views across Melbourne CBD and Port Phillip Bay and features expansive customisable robes as well as a master ensuite with custom curved bath and double vanity.

The luxurious penthouse is set for completion early 2023 with an asking price of $9,983,000; aspireresidences.com.au

 

The Penthouse, 7 Bowen Crescent, Melbourne

Located in a prestigious Gurner development that encompasses the city skyline arrives yet another David Hicks penthouse.

The spectacular in scale entrance foyer features dark stained parquetry floors that leads one through to the open plan living, dining and entertaining space surround by 270-degree full height glass affording sensational views.

From here, the living area extended to a mammoth private sun-terrace, perfect for entertaining.

The premium kitchen is a chef’s delight arriving in Carrara marble with Gaggenau and Liebherr appliances throughout.

A lavish main bedroom lands with a dressing room, marble ensuite alongside two additional bedrooms with coordinating ensuites and built-in robes.

Up the curved staircase, or via the private lift, one arrives at the 4th bedroom or retreat with a built-in robe.

Situated within walking distance to the Botanic Gardens, the Domain a, Albert Park and more, the home features a 4-basement car space and access to Albert Place’s hotel-style amenities.

The listing is with Marshall White’s Nicholas Hoo with a price guide of $7-$7.7 million; marshallwhite.com.au

 

Residence 6.01/409 St Kilda Road, Melbourne

 

Positioned on the corner of Toorak Road West and St Kilda road this podium floor residence arrives with sweeping north facing views of the CBD, Botanic Gardens and Fawkner Park.

The oversized, 3-bedroom, 5-bathroom, 5-car parking podium Penthouse offers 530sqm of internal living plus a further 200sqm external. Arriving with soaring ceilings, the main living space is decorated with European oak timber flooring in a herringbone pattern and floor to ceiling windows to take in those expansive views.

Also here is the large, luxuriously appointed kitchen featuring stunning oak cabinetry, top-grade marble, Gaggenau and Sub Zero appliances and a Christopher Boots pendant light as a feature.

The bedroom wing is informed by a large master with marble ensuite and bathtub, walk-in robes, while two more large bedrooms with ensuites while a guest room rounds out the offering.

Residents of The Muse will have the ability to access hotel-style services and facilities including 24/7 concierge services, 5-star wellness centre including spa, retreat, gym, swimming pool and also a luxurious club lounge with private meeting room facilities.

The listing is managed by Daniel Cashen, with an asking price of $16,500,000; themusemelbourne.com.au



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Philip Lowe’s comments come amid property industry concerns about pressures on mortgage holders and rising rents

By KANEBRIDGE NEWS
Wed, Jun 7, 2023 2 min

Leaders in Australia’s property industry are calling on the RBA to hit the pause button on further interest rate rises following yesterday’s announcement to raise the cash rate to 4.1 percent.

CEO of the REINSW, Tim McKibbin, said it was time to let the 12 interest rate rises since May last year take effect.

“The REINSW would like to see the RBA hit pause and allow the 12 rate rises to date work their way through the economy. Property prices have rebounded because of supply and demand. I think that will continue with the rate rise,” said Mr McKibbin.  

The Real Estate Institute of Australia  today released its Housing Affordability Report for the March 2023 quarter which showed that in NSW, the proportion of family income required to meet the average loan repayments has risen to 55 percent, up from 44.5 percent a year ago.

Chief economist at Ray White, Nerida Conisbee, said while this latest increase would probably not push Australia into a recession, it had major implications for the housing market and the needs of ordinary Australians.

“As more countries head into recession, at this point, it does look like the RBA’s “narrow path” will get us through while taming inflation,” she said. 

“In the meantime however, it is creating a headache for renters, buyers and new housing supply that is going to take many years to resolve. 

“And every interest rate rise is extending that pain.”

In a speech to guests at Morgan Stanley’s Australia Summit released today, Governor Philip Lowe addressed the RBA board’s ‘narrow path’ approach, navigating continued economic growth while pushing inflation from its current level of 6.8 percent down to a more acceptable level of 2 to 3 percent.

“It is still possible to navigate this path and our ambition is to do so,” Mr Lowe said. “But it is a narrow path and likely to be a bumpy one, with risks on both sides.”

However, he said the alternative is persistent high inflation, which would do the national economy more damage in the longer term.

“If inflation stays high for too long, it will become ingrained in people’s expectations and high inflation will then be self-perpetuating,” he said. “As the historical experiences shows, the inevitable result of this would be even higher interest rates and, at some point, a larger increase in unemployment to get rid of the ingrained inflation. 

“The Board’s priority is to do what it can to avoid this.”

While acknowledging that another rate rise would adversely affect many households, Mr Lowe said it was unavoidable if inflation was to be tamed.

“It is certainly true that if the Board had not lifted interest rates as it has done, some households would have avoided, for a short period, the financial pressures that come with higher mortgage rates,” he said. 

“But this short-term gain would have been at a much higher medium-term cost. If we had not tightened monetary policy, the cost of living would be higher for longer. This would hurt all Australians and the functioning of our economy and would ultimately require even higher interest rates to bring inflation back down. 

“So, as difficult as it is, the rise in interest rates is necessary to bring inflation back to target in a reasonable timeframe.”

MOST POPULAR

Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’

Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual

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