Malcolm Turnbull's Kingston penthouse hits the market

He recently lost the nation’s top job but it looks as though Malcolm Turnbull’s ghost won’t be lingering around Canberra with the former PM putting his luxury Kingston penthouse on the market.

The “very lightly lived in” three-bedroom, two-level penthouse boasts lakefront views and has 200 square metres of living area, with a large lakeside entertaining terrace of approximately the same size.

Features of the penthouse include open-plan living, polished hardwood timber floors, and a high-quality “luxe” kitchen. 

It is listed by Berkely Residential and has a price guide of around $2.5 million.

The Turnbulls purchased the penthouse off the plan in 2006 for about $2 million, according to Domain Group data.

While it may not be of the same calibre as the former prime minister’s Point Piper mansion in Sydney, it is part of one of Canberra’s most luxurious developments – Waterfront.

The complex sits on the first parcel of land to be sold on the Kingston foreshore; prominent Sydney-based developer Stockland snapped up the land for $27 million in 2003.

Waterfront comprises 108 “architecturally- designed” apartments with “unrivalled views of Lake Burley Griffin and surrounding parklands”.

“The Waterfront offered buyers spectacular north-facing lake and city views, all within close proximity to Canberra’s premier lifestyle precinct on the Kingston foreshore, home to the finest in arts, entertainment, cafes and restaurants,” said a spokesperson from Stockland.

While Mr Turnbull is estimated to have a net worth of more than $200 million, he didn’t purchase the most expensive penthouse in Waterfront.

A penthouse in the same complex was purchased off the plan for $2.7 million. Altogether there are 12 penthouses in the complex, and, reportedly, several sold off the plan for $2.4 million.  

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While Canberra is not synonymous with penthouses, in recent years a number have popped up around the nation’s capital, particularly along the Kingston foreshore.

This year, three penthouses in Keggins’ Sapphire development have sold, priced between $3.15 million to $3.35 million. The 79-unit development will be Kingston foreshore’s last waterfront development.

Altogether, five penthouses have been offered for sale in the complex.

“They all have the same floor plan with four bedrooms, 235 square metres of living space and a rooftop garden area of 139 square metres,” said Independent Property Group selling agent Grahame O’Brien.

The $3.35 million penthouse is north-facing and has views across the Kingston foreshore and Lake Burley Griffin.

Mr O’Brien said Sapphire will be the “premium development” of Canberra.

“The level of inclusions are far superior to other developments in the Kingston foreshore precinct,” he said.

Multi-million-dollar penthouses have also sold outside of the foreshore, most notably in the city.

In 2008, Boris Property director Boris Teodorowych sold an off-the-plan penthouse in NewActon in the ApARTments development for $3.7 million.

The four-bedroom penthouse has 301 square metres of living and includes a separate powder room and laundry, media room and lock-up double garage.  

“At the time, it was the first modern, high-rise apartment complex Canberra had on offer,” said Mr Teodorowych.

“It was an attraction in the sense of it being a high-end apartment with magnificent panoramic views across Lake Burley Griffin, the city and Parliament House.”

The ApARTments was designed by renowned architects Fender Katsalidis, and as the name suggests, there are a number of contemporary artworks in the building and the precinct.

Penthouses in the complex are tightly-held with only one turned over the past eight years. It sold for $2.6 million.

Mr Teodorowych has also recently sold a penthouse in the Campbell 5 complex, off-market, for $2.8 million – a suburb record. He said penthouse buyers were “looking for views, two living areas, and secure car accommodation”.

Expressions of interest for Malcolm Turnbull’s penthouse are open until October 11.