Orchard Piper secures $20m record-breaking penthouse sale at One Toorak Place
Design-led property developer Orchard Piper, together with joint venture partner NPACT, has broken the record for the most expensive apartment sale in Toorak at their freshly launched new apartment development, One Toorak Place.
Australian retail executive Daniel Agostinelli and his wife Lynette have spent more than $20 million on the penthouse in the heart of Toorak Village. The sale comes after two of the sub-penthouses which sold for records of more than $11.5 million in May 2024, each exceeding $38,000 per sqm.
Located on Carters Avenue, One Toorak Place is set to revitalise Toorak Village with a mixed-use offering comprising 47 apartments, commercial suites, and a curated retail and hospitality precinct — all centred around a new private laneway.
As Toorak’s first hotel-style serviced building, the project introduces a new model of lifestyle-focused living, akin to internationally recognised branded residences.
Residents will enjoy a suite of hotel-style services and amenities, including concierge, private car transfers and on-site security, alongside an extensive wellness offering featuring a 25-metre pool, gymnasium, sauna, steam room, cold plunge, spa and treatment room. In addition, residents will have access to a dedicated lounge, meeting rooms, a golf simulator, and practical facilities such as dog-washing and a car-wash bay.
Agostinelli, Group CEO of Accent Group Limited, has followed the developer’s work for over a decade, with the penthouse marking his first purchase.
The house-proportioned apartment comes with five bedrooms, an eight-car private garage, direct lift access to a private lobby, a 1000-bottle cellar, and private wellness facilities, including a pool and spa set across 560 sqm of outdoor terraces and gardens, framed by expansive views of the Melbourne city skyline.
Orchard Piper Director Luke McKie says opportunities of this calibre are incredibly rare, not just in Toorak, but anywhere in Australia.
“The penthouses at One Toorak Place are designed to offer all the qualities of a fine luxury home, with the added security, privacy and views that only penthouse living can provide," Mckie said.
Orchard Piper Director Rick Gronow added, “To close such a significant sale ahead of launch speaks volumes about the strength of the precinct and the market’s appetite for thoughtfully designed, premium residences in Toorak Village.”
Agostinelli said the decision to purchase was driven by Orchard Piper’s consistent commitment to quality over the past decade.
“I’ve known Rick Gronow and Orchard Piper for a long time," Agostinelli said.
"My wife Lynette and I trust their quality, which made us comfortable buying off the plan. Their work speaks for itself, and this project takes it to a new level. One Toorak Place stood out to us as a unique chance to live privately while still enjoying the kind of services and experiences you’d normally only find in a five-star hotel. It’s something we haven’t seen in Toorak or Melbourne at this level before and we are very excited about the project."
To complement the residential offering, Orchard Piper has partnered with acclaimed restaurateur Chris Lucas to deliver a new hospitality benchmark in luxury living – a ground-floor dining precinct paired with exclusive in-residence experience. From all-day dining to private catering, cellar services, and events, residents enjoy seamless access to Melbourne’s most iconic hospitality, all curated by the team behind restaurants like Society and Grill Americano.
“This is about more than great food,” said Chris Lucas. “It’s about bringing the spirit of our restaurants into the home — creating a seamless lifestyle that celebrates design, connection and the joy of exceptional hospitality.”
Occupying the 3,589 sqm former Mercedes-Benz Toorak site, One Toorak Place is the suburb’s largest planning approval to date in both height and site size. A joint venture between Orchard Piper and NPACT (a partnership between James Packer’s family office and Todd Nisbet) the project is designed by internationally acclaimed firm KHA (Kerry Hill Architects).
Alongside Orchard Piper’s first Toorak Village project, it contributes to over 5,000 sqm of prime land under development in the precinct, with a combined end value expected to exceed $550 million.
One Toorak Place will officially launch to market in mid-2025, with construction expected to commence toward the end of the year.
