Sydney penthouse sells for $17 million
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Jun 2, 2017
Sydney penthouse sells for $17 million
The $17m sale of a penthouse in the Loftus Lane development at Sydney's Circular Quay shows harbourfront real estate has entered a new league. The agent was Justin Brown of CBRE.
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Artist's impression.The view from the Loftus Lane penthouse which sold for $17m. -
Artist's impression.An apartment in the Loftus Lane development. -
Artist's impression.An apartment in the Loftus Lane development. -
Artist's impression.An apartment in the Loftus Lane development.
A penthouse in Sydney's Loftus Lane apartments at Circular Quay has sold for $17 million, or nearly $67,000 per square metre.
The result shows that Circular Quay developments are taking Sydney luxury real estate into a new league.
In November last year, the penthouse at the nearby Opera Residences sold for $27 million, or $96,000 per square metre.
Before these two sales, the most expensive real estate in Sydney sold for around $50,000 per square metre. More generally, apartments sell for between $10,000 and $20,000 per square metre in Sydney.
A local buyer bought the top-floor apartment off the plan, according to reports in the Australian Financial Review. The Loftus Lane project is not being officially launched until tomorrow, Saturday 3 June.
Loftus Lane apartments are being developed in the heart of Sydney's Circular Quay on the site of the former AMP buildings, and will consist of three low-rise residential buildings with fewer than 50 apartments in each. The project is not due for completion until 2021, and will involve rejuvenation of the entire Quay area.
Sydney's most expensive single home to date is Point Piper's 'Elaine', which sold to tech entrepreneur Scott Farquhar in April this year for more than $70 million.
Read more about high-end Sydney real estate:
$26m penthouse breaks Oz apartment record
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