With $15 million plus hopes, Mirvac has begun marketing its 500-square-metre Grand Pavilion penthouse overlooking Melbourne's Fitzroy Gardens at east Melbourne.
Mirvac's The Eastbourne penthouse comes with a 300-square-metre balcony, 50 metres of park frontage with pool and a spa.
"We expect the penthouse will be bought by a Melbourne local, some one from Toorak who is downsizing from their mansion," Mirvac boss Susan Lloyd-Hurwitz said.
Fairfax Media advised she is one of around 200 buyers who have snapped up $300 million worth of apartments in the off the plan sales in the development. The penthouse will be at the former Dallas Brooks Hall and Freemasons Masonic Lodge site at 280 Albert Street.
One buyer has spent almost $11 million to join three apartments into one 250 sqm apartment.
The Grand Pavilion penthouse won't be the city's most expensive apartment.
Across the gardens, there was a higher price at Salta's apartment block, and the record is held by the $25 million sale of the 100th floor penthouse in Australia 108 to a Chinese buyer.
Eastbourne has been designed for Mirvac by Bates Smart, the architects behind their other prime block, The Melburnian on St Kilda Road.