Caledonia Investments fund manager Will Vicars confirmed as $21 million Pacific Bondi Beach penthouse record price setter
Fund manager Will Vicars holds the mantle of Australia’s most expensive apartment owners, after his decison to buying two adjoining penthouses off the plan on Campbell Parade Bondi Beach for $21 million.
The Sydney-based Caledonia Investments chief investment officer set the new national record buying the first on the initial release last October for $10.9 million and then the second more recently for $10.1 million.
His top floor space in the redevelopment of the Swiss Grand Hotel will have a total size of 975 square metres, including a 468 square metre terrace fronting the beach.
"For me, this is an opportunity to create a spectacular apartment, which may become our future family home in Bondi," Fairfax Media reported after word of the sale was published last Friday by the Property Observer Title Tattle column.
CBRE Residential chairman Justin Brown said the Vicars apartment would set a benchmark in Australian beachside living. It reflects around $40,000 a square metre based on its internal space.
But his price record could be broken as the developers have set about consolidating another two of the seven top floor penthouses for a slightly larger unit which comes with $25 million to $29 million plus hopes after its BKH fitout through CBRE and McGrath Projects.
The base asking price is $25 million, but depending on the finishes chosen, it could cost $29 million the developer Eduard Litver of Capit.el Group told Property Observer.
"Someone from overseas might want gold tiles - you just don't know what they're going to want," Mr Brown jestingly advised Fairfax Media.
The previous Sydney top apartment sale which took place in 2008 for a 12th-floor unit in the Bennelong development at East Circular Quay which fetched $16.8 million when bought by the Moran health care family. It was their third adjoining unit in the complex.
