Ozone Cronulla secures record-breaking $10.25 million sub-penthouse sale

Ozone Cronulla secures record-breaking $10.25 million sub-penthouse sale
Ozone Cronulla secures record-breaking $10.25 million sub-penthouse sale

Allen and John Sammut, two of Sutherland Shire’s best known apartment builders, have secured a $10.25 million off-the-plan sale in their Ozone, Cronulla project.

The 300 sqm plus beachside sub-penthouse secured the highest price ever paid for an apartment in the shire.

With views of the ocean from South Cronulla to North Cronulla beach, the sale was secured by local agent David Highland at Highland Property Group.

There are 38 apartments in the nine-level Ozone St complex that has a 2022 completion date with demolition of the existing dated unit blocks set for coming weeks.

Its two top-floor penthouses had both been sold for $7.5 million, which at that time were records for ­Cronulla in 2018 and then 2019.

The initial penthouse sale was to the Greer family from Taren Point.

The project is being undertaken by brothers Allen and John, in partnership with Rebel Property Group, Ghassy Bayni’s Morehuman and Leda Living, the Ell family company which has felt the impact of the COVID-19 virus more than others in the industry.

Following their late father, Paul, who built 200 prestige abodes, Sammut Developments have undertaken numerous Cronulla residential projects including Drift, Coast, Banc and Breeze since founded in 1993.

Ozone includes a mix of one, two and three-bedroom layouts, with ­remaining apartments ranging in price from $1.1 million to $5.75 ­million.

The previous off-the-plan record price for Cronulla was in the Wavelength development on Gerrale Street for $6.3 million.

This article first appeared in The Sunday Telegraph.

 

Tags: 
Trophy Sale Cronulla

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