Buyers amalgamating apartments in Pikos Group's Kangaroo Point apartment development, Skye by Pikos

Director of Gap Development Sales, Grant Plummer said it was something they had never anticipated but realised the unique opportunity they had to create something special for buyers

Buyers amalgamating apartments in Pikos Group's Kangaroo Point apartment development, Skye by Pikos
Render from the rooftop of Skye apartments . Image supplied

 

Luxury buyers in Pikos Property Group's Kangaroo Point apartment development, Skye by Pikos, are doubling up their purchases, amalgamating two adjoining apartments to create super apartments.

Pikos' $200 million Skye apartments has fielded interest from three separate parties to purchase two adjacent, already sizeable, 230 sqm apartments in the luxury development and amalgamate them under one expansive, opulent sky home of almost 450 sqm.

Director of Gap Development Sales, Grant Plummer said it was something they had never anticipated but realised the unique opportunity they had to create something special for buyers.

“A common theme for each buyer was that they want the amazing position and view that Skye offers but they don’t want to compromise space when moving from the family home."

“Essentially buyers are looking for a way to downsize upkeep without downsizing their lifestyle, and that’s where we’re seeing this demand for these mega-apartments,” he said.

Each of the amalgamated Skye Residences will span 372 sqm of internal living area, a further 32 sqm of balconies, and 23 sqm of Skye gardens.

The reconfiguration of the two adjoining apartments allows for larger bedrooms, all with ensuites, a master bedroom that is larger than some two-bedroom apartments, multiple living zones, and the provision of four car spaces designed to accommodate families with adult children.

The mega-apartments sold for $6.5 million each, with the Skye penthouse priced at $10.5 million and the sub penthouse at $8.5 million.

“While these are substantial figures, it is still incredible value when compared to the likes of Sydney and Melbourne,” Plummer added.

“The interstate buyers just can’t believe how cheap we are at $13,000 per sqm compared to projects that are launching in Sydney at $45,000 a sqm.”

Data from Urbis released earlier this year revealed a price disparity of up to 35 per cent between premium projects in Brisbane and Melbourne and a staggering 258 per cent differential compared to Sydney.

Within days of its first limited pre-release of residences in the first stage of the development it had received more than 600 registrations of interest, prompting the first 23 luxury residences on offer to be snapped up in a $80 million buyer rush.

Set atop the cliffs of Kangaroo Point and taking in unobstructed views across the Brisbane River and skyline, Skye by Pikos brings to life 68 luxury apartments over three towers.

Apartments in Skye Residences - 8 River Terrace, Kangaroo Point

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Alison Warters

Alison Warters

Alison Warters is a property journalist for Urban, based in Sydney. Alison is especially interested in the evolution of the New Build/Development space, when it comes to design innovation and sustainability.

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