An artist’s impression of the view from one of the apartments in ‘Moray House’. Supplied by Spyre Group.
BRISBANE’S penthouse price record has been smashed with the $15.75m sale of a sky home in a new riverfront development where apartments start at an eyewatering $9m.
Local developer, Spyre Group, has unveiled plans for six, ultra-luxurious residences on a 1030 sqm site at 65 Moray St, New Farm, which will be the largest off-the-plan apartments in the city at a whopping 320 sqm each.
A render of ‘Moray House’ in New Farm.
While there may be higher sales that have not been disclosed, the biggest recorded penthouse sale dates back to 2009 when lawyer Howard Stack paid $14.25m for a penthouse in Mirvac’s ‘Pier South’ development in Newstead.
The two-level penthouse crowning ‘Moray House’, which spans an incredible 800 sqm and has its own ‘sky garage’, has sold to a local family who currently live in the same street — and they haven’t even seen what it will look like.
An artist’s impression of the inside of one of the apartments in the building at 65 Moray Street, New Farm.
“For $11m you couldn’t buy a block of land on the river to build a house like that right now,” Simon Caulfield of Place Estate Agents, who sold the penthouse and is marketing the remaining residences, said.
The cheapest ’sky mansion’ in ‘Moray House’ is available for $9m, with access to additional infrastructure or a ‘sky garage’ costing up to $11m.
The sale of the penthouse marks one of the biggest residential sales in Brisbane’s history.
Simon Caulfield of Place Estate Agents also sold an $11.3m penthouse with more than 1100 sqm floor space off-the-plan in One Five Six on Oxlade Dr, New Farm. Picture: Jamie Hanson.
The highest residential home sale ever recorded in the city was when the cliffside mansion at 1 Leopard St, Kangaroo Point, fetched $18.48m in 2017.
Mr Caulfield said the appetite for penthouse-style apartments had begun to rival suburban residential estates due to lack of supply and the appeal of privacy, security, and exclusivity.
penthouse price record has been smashed with the $15.75m sale of a sky home in a new riverfront development where apartments start at an eyewatering $9m.
“The buyers we’re dealing with are living between multiple dwellings,” Mr Caulfield said. These people buying a property for $9m are living in properties worth $25m.
An aerial view of the site at 65 Moray St, New Farm, which is currently occupied by an existing block of flats.
“They have a place in Noosa, or the Gold Coast, or Byron Bay. We’re getting to a point where the Brisbane base, foremost, is the lock-and-leave option.”
Spyre Group design manager Kent Pinel said one of the standouts of the project was an “oversized” car lift worth half a million dollars, which would take residents directly to their apartment without having to cross paths with anyone else in the building.
A render of the luxury apartment development due to be built at 65 Moray St, New Farm.
The penthouse would have its own ‘sky garage’, accessed using the car elevator, which will have a door directly into the residence.
“We are very familiar with this level of apartment offering and one thing that’s important is security and accessibility from a driveway and maneuvreability perspective,” Mr Pinel said.
“It’s really important as these are quite often people who are very conscious about the security of their possessions and what could be very rare and expensive cars.”
The property is one of the last available riverfront sites in New Farm and will be one of only two with direct, private access to Brisbane’s Riverwalk.
The property will have direct, private access to Brisbane’s River Walk.
Spyre Group director Andrew Malouf said “this property will be both a first and last of its kind”.
“Each apartment can be individually curated for the new owners with custom components that
allow these homes to truly classify as ‘one of one’,” Mr Malouf said.
“These include a lap pool, sky garages, wellness rooms and personalised gyms.”
Artist’s impressions of the penthouse have not even been produced yet, with the buyers only seeing images of the remaining apartments in the building.
Designed by bureau^proberts, the other apartments will have four bedrooms, all with ensuites, with the master suite occupying over 50 sqm of the floor plate in its own wing.
The penthouse in the building under construction at 156 Oxlade Drive, New Farm, sold off-the-plan for $11.3m in 2022. Picture: Supplied.
Mr Caulfield, who also sold the penthouse in nearby 156 Oxlade Drive last year for $11.3m, said he expected some “high-profile” buyers to be interested in the project because of its price point and exclusivity.
“This price point owes itself to the craftsmanship and consideration behind every aspect of the architecture and design,” he said.
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“Buyers are appreciating architects and builders developing high quality products. I don’t know if I’ll see a better location than this again.
“The reality is Brisbane has got such a wonderful lifestyle component on its doorstep… I think people are now seeing the value and are willing to make the investment now, more than ever before.”
10 OF THE BIGGEST APARTMENT SALES OF ALL TIME IN BRISBANE
1. Penthouse, 65 Moray St, New Farm
Sale price: $15.75m
2. Apartment 250, Pier South, Newstead
Sale price: $14.25m
3. Penthouse, 156 Oxlade Dr, New Farm
Sale price: $11.3m
4. 1821/22 Refinery Parade, New Farm
Sale price: $10m
5. 601/1 Gray Street, New Farm
Sale price: $7.65m
6. Penthouse, Pier South, Newstead
Sale price: $7.35m
7. 1001/1002 at 18 Park Avenue, East Brisbane
Sale price: $7.2m
8. Penthouse, The Oxlade, 80 Oxlade Drive, New Farm
Sale price: $7.125m
9. Penthouse, The Oxlade, 80 Oxlade Drive, New Farm
Sale price: $7.06m
10. Penthouse, The Oxlade, 80 Oxlade Dr, New Farm
Sale price: $7m
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