Offshore $25 million Greenland Centre, Sydney penthouse sale prospect
An offshore buyer is considering paying $25 million off the plan to combine three penthouses atop Sydney’s tallest residential apartment tower.
There will be six penthouses across the top two levels, 81 and 82, of the Greenland Centre currently being developed by the Shanghai-based Greenland Group in Bathurst Street.
Prices range from $5.6 million, starting at 180 square metres, to $9.7 million.
The touted buyer spends three to six months a year in Sydney, the estate agent David Milton, the managing director of selling agents CBRE, advised Fairfax Media.
If the sale proceeds, it will better the reputed off the plan Sydney record when the chief investment officer of boutique fund manager Caledonia Investments, Will Vicars was pinpointed as the possible $21 million buyer of two two-storey lighthouse penthouses in the Pacific Bondi Beach development to create a combined apartment.
At the Greenland Centre, the design by BVN Donovan Hill and Woods Bagot includes a new high-rise invention, ventilated glass-walled balconies off the living areas.
BVN Donovan Hill architect Phillip Rossington says the glass wall was necessitated as the penthouses in the clouds will sit more than 220 metres above street level.
Rossington’s team will install large sheets of glass in the form of a windshield to protect the balconies, fixed in place by elegant X-shaped steel-claws, which is hoped will enable residents to keep their furniture intact.
Some 400 apartments of the planned 500 apartments in the $600-million dollar development have already sold off the plan.
Prices started at around $528,000 when announced last October with more than 60 per cent of buyers credited as intending owner-occupiers.
It has been marketed as 'Like a diamond in the sky' through CBRE residential director David Milton.
Set on the former Water Board site, the 115 Bathurst Street and 339 Pitt Street site has stage-one development approval for 500 apartments reaching around 235 metres high.
Beating off Harry Triguboff Meriton's 230-metre tall World Tower, which dates back to 2004, the new tower will appear considerably taller as it is built further up a ridge than World Tower.
As I wrote last year the arrival of the Chinese-based Greenland Group to Australian shores was an auspicious occasion.
Registered penthouse buyers will be invited to a VIP event later this month with construction is due to start in late July.