Where you can buy a penthouse across Australian for less than $1 million
Penthouses have traditionally been the epitome of luxury apartment living, denoting wealth and status.
And while they can certainly still claim that mantle – the most expensive residence ever sold in Australia was the recent sale a $140 million off-the-plan deal that included a two-storey penthouse and a sub-penthouse at the Tower 1 development at Barangaroo South, Sydney – penthouses are not always only for the rich and famous.
With the construction of more apartments across Australia’s capital cities, more penthouses have been built than ever before. Here’s where you can snap up your own status symbol for less than $1 million.
907/11-15 Charles Street, Canterbury, NSW
For sale: $750,000
This modern sub-penthouse with scenic views and light-filled living areas features two bedrooms, two luxury bathrooms, ducted airconditioning and is within walking distance of the Canterbury train station. At only nine kilometres from Sydney’s CBD, it’s surrounded by restaurants, cafes and entertainment venues.
36/5 Citrus Avenue, Hornsby, NSW
For sale: $700,000-$720,000
This brand new penthouse with high quality appliances is spread over two levels and features high ceilings and multiple entertaining spaces.
With two bedrooms and two bathrooms, it sits within the Hornsby North Public School catchment and is within walking distance of the train and local shopping village.
Marketing agent James Campbell of Soames Real Estate Upper North Shore said with the construction of so many apartments in Sydney in recent years, penthouses at more affordable price points had become more common.
“It’s definitely become more common that you can achieve a two-bedroom penthouse at this level in Hornsby,” he said.
“All of the new five-storey apartment blocks all have penthouse levels. It’s more the executive buyer for this style and it’s a great option for them.”
He said No.33, the other penthouse in the same building, had recently sold for $720,000.
26/6-8 The Crescent, Homebush, NSW
For sale: $980,000-$1.03 million
Set over two levels, this penthouse with double-height ceilings, polished timber floors and leafy, open views across Burlington Road has three bedrooms, two bathrooms and a covered outdoor entertaining area.
It’s within walking distance of Strathfield and Homebush stations, as well as local shops, cafes and amenities.
605/165-167 Gladstone Street, South Melbourne
Sweeping views over the Melbourne CBD and the bay are on offer from this penthouse’s oversized terrace and each of the rooms.
“It’s like a light show in the evening,” Cayzer Albert Park director Michael Szulc said.
“There’s plenty of apartments out there but they’ve all got smaller balconies, small terraces, nothing like this.”
The three-bedroom apartment spans 110 square metres but the terrace occupies a roomy 95 square metres, with 270-degree views for residents.
And while there is another apartment above, this one is labelled a penthouse due to its height and takes up the whole front width of the building.
A family with children is selling after they outgrew the pad.
Offers in the vicinity of $1 million will be considered, Mr Szulc said.
402/12 Martin Street, St Kilda
For sale: $530,000
In a four-storey block, this two-bedroom apartment is considered a penthouse by virtue of its position on the top floor and its views across St Kilda.
The boutique building is seen as an advantage for buyers looking for long-term price growth.
“When you compare the St Kilda area to, for example, the Docklands or the CBD, here we did not overbuild,” said Raine & Horne St Kilda director Kristian Bonnici.
“There is more capital growth than the Docklands, because it’s all about land.”
He also notes the opportunity to enjoy the residence without being disturbed by upstairs neighbours.
He expects interest from young professionals without children or investors looking for an apartment that is easy to rent out as it does not face competition from waves of high-rises nearby.
It’s located close to the shopping and cafes of Chapel and Acland streets.
Gungahlin, ACT
For sale: $990,000
No expense has been spared in this three-bedroom, two-bathroom penthouse with three car spaces. Featuring spectacular views, it has open-plan living areas with floor-to-ceiling windows that flow out on to an expansive entertaining balcony.
There is plenty of storage, oversized bathrooms and a house-sized kitchen with stone waterfall-edged benchtops, as well as zoned reverse-cycle heating and cooling.
20/18-22 Wesley Street, Lutwyche, QLD
For sale: $910,000
Spanning 171 square metres, this penthouse with panoramic city views is only a 10-minute drive to Brisbane’s CBD. An off-the-plan customisable design, it’s already attracted strong interest from downsizers, mainly for its price point.
Marketing agent Adrian Graczyk agent of Graczyk Thompson said it was the first penthouse he’d listed for under $1 million, citing recent similar penthouse sales in neighbouring suburbs like Clayfield for around $1.65 million.
“Affordable is definitely the word. It’s hard to find something of this size and this close to the city for the money,” he said.
“The developer wanted to target that downsizer market, where elderly people are selling in nearby suburbs for $1.5 million and want to stay local but still want the space, the large balcony, the storage and heaps of natural light.
“They don’t really need all the technology that comes with the more expensive penthouses but they do want nice finishes.”
302/297 Lancaster Road, Ascot
For sale: sub-$600,000
Situated in a boutique complex of only nine apartments, this is the last penthouse left and, at this price, it’s unlikely to last long.
Marketing agent Chrese Morley of Harcourts Clayfield said affordable penthouses were in huge demand because they offered downsizers in particular the luxury and location that they were after, without the price tag.
“Developers spend more money on the top apartment, they’ve got higher ceilings, beautiful views and aspects that units on the other floors don’t have,” she said.
“I’ve never come across one this cheap before but developers have in mind that this is a price point that even first-home buyers can afford.
“You get all the bells and whistles that you’d expect but it’s on a smaller scale.”
116/580 Hay Street, Perth
Price: Offers from $898,000
This executive CBD sub-penthouse is made for entertaining, with a northerly aspect on level 18 featuring two outdoor terraces, city and urban views and a lavish kitchen.
Inside, the living areas are light-filled and spacious and the three bedrooms are all well-appointed. The complex features a gym, pool, spa and a retail/restaurant arcade.
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