Expert insights Investing $250 million worth of apartments sold in King & Phillip Residences, Sydney
$250 million worth of apartments sold in King & Phillip Residences, Sydney
Staff reporterDecember 7, 2020
The King & Phillip Residences in Sydney secured $250 million worth of apartments sell on the first day.
Of the 104 apartments on offer in the Galileo Group development 80 per cent sold last Saturday, of which all but two apartments sold to locals, mostly Chinese Australian buyers.
The sub-penthouse sold for $10.1 million
The building’s one-bedroom apartments with study sold for as high as $2 million plus, without any carspace, the two-bedroom apartments sold for between $3 million and $4 million, and the larger three-bedders sold for between $5 million and $6.5 million.
The 25-storey building designed by Francis-Jones Morehen Thorp (FJMT) is set to be complete in 2020 on the site of the former University of Sydney law school campus.
The Galileo Group bought the brutalist-style building from Sydney University in 2015 for $45 million.