Azure Development grab $11 million penthouse record at One Five Six Oxlade Drive, New Farm
Azure Development has smashed the inner-Brisbane apartment price record, selling their sprawling New Farm penthouse atop One Five Six Oxlade Drive for $11 million.
A local Brisbane family secured the 1,025 sqm space crowning the luxury apartment project of just 10 apartments, arguably one of the best, and last, riverfront-facing residential properties.
The penthouse, complete with own rooftop terrace with swimming pool, has four bedrooms, five bathrooms, a seven car garage, terrace gardens, and a self-contained basement with a wine cellar.
The luxury rooftop pool with sweeping views. Image supplied
Trent Keirnan, Director of Azure Development, attributes the record outcome to a growing sector of discerning buyers seeking space and quality.
“Enquiries have doubled in the last 18 months for supersized residences. The depth of buyers in this market is a by-product of an expanding demographic of clients willing to invest significant capital into these mansions in the sky,” Keirnan said.
“The market is accommodating demand from an increased surge in the property prices above $5 million and Brisbane has benefitted significantly in the post Covid adjustment of mid-2020.
“We’re seeing more and more families leave the suburban streets behind for large inner-city sky homes, which provide the same spacious floor plans as the average Queensland home with added luxe amenities.
“Developers and architects are recognising the importance of increased floor plans, designing true homes in the sky that can accommodate for growing families, providing generous open-plan living spaces that present a contemporary and modern way of living
Place Kangaroo Point agent Simon Caulfield said he fielded a number of offers for the apartment.
The marble island bench by Conrad Architecture. Image supplied
“We received multiple competitive offers from local families wanting an unrivalled experience with no compromise, which inevitably pushed the price to its record high,” Caulfield said.
Construction on the development commenced in December 2021, with construction completion anticipated for mid-2023.