An artist’s impression of the circa $13m penthouse in ‘The Peninsula’ by Seymour Group. Image supplied.
A UNIT in Seymour Group’s New Farm residential project, ‘The Peninsula’, has sold for just over $7m, as the appetite for larger than life, uber-luxe apartments in Brisbane continues unabated.
More than half of the apartments in the development at 70 Oxlade Drive have now sold off-the-plan for an average price of $4.993m, with construction still yet to start.
An artist’s impression of a close-up of the $12.95m penthouse in ‘The Peninsula’ by Seymour Group. Image supplied.
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One of the sub-penthouses, Residence 19, on level four of the riverfront building has just fetched $7.05m through marketing agent Sarah Hackett of Place Estate Agents.
Two sub-penthouses remain for sale and the main penthouse has just been introduced to the market with a price tag of $12.95m.
An artist’s impression of the kitchen in the penthouse. Image supplied.
Mrs Hackett said 17 of the 26 apartments in ‘The Peninsula’ were unconditional, with two sub-penthouses selling for more than $7m and four river apartments fetching prices in the mid $6m range.
“After marketing ‘The Oxlade’ (Seymour Group’s other project two doors down), we realised people were willing to pay more for bigger apartments,” Mrs Hackett said.
“These are 20 to 30 per cent bigger than the average apartment size, and we decided to give every apartment (in ‘The Peninsula’) the penthouse package in ‘The Oxlade’.
That means every apartment has a built-in bar, wine cellar options, and indoor or outdoor fireplaces.
An artist’s impression of one of the bathrooms. Image supplied.
Mrs Hackett said there had been some overseas interest, but the majority of buyers had been local downsizers looking for their “forever apartment”.
The 559 sqm penthouse is north-facing, features a 20m frontage, and boasts a sweeping staircase to a private rooftop terrace with a pool and outdoor kitchen.
An artist’s impression of the sweeping staircase leading to the rooftop terrace in the penthouse.
Mrs Hackett said Brisbane’s prestige market had remained resilient despite headwinds from rising interest rates and cost of living pressures.
“If you look at the people buying, they are people who had very established businesses, who rode through Covid and made money,” she said.
“These people were frustrated there hasn’t been this type of stock available for so many years.”
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