Inner-city penthouses stand tall in Australia's prestige market

 Convenience, security, privacy and lifestyle. These are the key attributes of penthouse living, according to agents.

“People looking to buy a penthouse don’t want the hassle of a house with a lawn and gardens,” says Perth-based agent Brendon Habak, of Realestate 88. “They’re usually professionals or overseas buyers who want a city base.”

While the lock-up-and-leave convenience of apartment living has been driving the market for many years, a whole-floor city penthouse has added appeal with its promise of 360-degree views, privacy and proximity to amenities and transport.

With no neighbours and often exclusive lift access, whole-floor penthouses represent the pinnacle of apartment living.

Robert Graham of Ray White Prestige Gold Coast says he encounters two main buyer types.

The first group are downsizers moving on from large family homes who want freedom to travel, but still want generous accommodation without the maintenance.

The second group are interstate buyers who have already invested in property and want to upgrade to a larger residence.

“There are not a lot of penthouses for sale,” Graham says. “But the market is strong and inquiry levels are quite high.”

Domain has found three penthouses that set the standard for luxury apartment living in Australia. 

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Main Beach, Queensland

The main bedroom at 93/1 Hughes Avenue, Main Beach, has an impressive outlook.
Photo: Supplied

At 1005 square metres, 93/1 Hughes Avenue is larger than most freestanding homes and blocks.

Boasting breathtaking views of the beach, ocean and Gold Coast waterways, the hinterland and the city, the property crowns Oscar on Main.

“It’s big and grand and the privacy is unmatched,” says agent Robert Graham. “In a lot of the more recently completed developments, developers try to squeeze in up to four penthouses.

The Main Beach home is an enviable 1005 square metres in size.
Photo: Supplied

“This one occupies the entire top two floors and a family could live here comfortably.”

Graham says the last comparable sale was in 2011 when the Liberty Panorama penthouse at 1 Lennie Avenue sold for $9.2 million.

Expressions of interest for the apartment will close on August 2.

See more photos of the property at Domain. 

Bondi Junction, New South Wales

106/2A Hollywood Avenue, Bondi Junction has a broad, wrap-around terrace.
Photo: Supplied

Set on the 20th and 21st floors of the Oscar on Hollywood building, 106/2A Hollywood Avenue is wrapped in broad terraces to make the most of the panoramic Sydney Harbour and city skyline views.

“It’s more like a sky home than an apartment,” says agent Graham Berman of Raine & Horne Double Bay, who is asking $6 million for the property.

The apartment has panoramic views of Sydney city.
Photo: Mitch Cameron Photography

“You’re literally perched above the surrounding buildings in the lap of luxury with sweeping 360-degree views.”

You’ll find a selection of living spaces, a granite kitchen with walk-in pantry, a separate bar and a generous master suite. The building boasts concierge services, a heated pool, spa, sauna and gym.

See more photos of the property at Domain.

Perth, Western Australia

2801/237 Adelaide Terrace, Perth is expected to sell for more than $4.6 million.
Photo: Supplied

One of the largest, single-level penthouses available in the inner city, this 28th-floor penthouse in Elevation has a total of 531 square metres on title, including six balconies.

Located at 2801/237 Adelaide Terrace, the spectacular views take in Perth City, the Swan River, Elizabeth Quay and Kings Park.

Located in a prime Perth location, the apartment is close to everything. Photo: Supplied

Inside there are two large living areas plus a kitchen with dining zone and a dedicated study.

“I like that it’s all on one floor but with good separation between the master wing and other accommodation,” says agent Brendon Habak. “And you don’t have any neighbours so you’ll enjoy plenty of privacy.”

Offers over $4.5 million are sought. 

See more photos of the property on Domain.

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