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Double Bay apartment record broken and broken

The Property Addict / Luxury Lifestyle

Australia

Sep 27 2017

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SJD Property’s $100m residential development, 1788 Residences Double Bay, has set a new record for apartment sales in the wealthy enclave for the second time in weeks.

After selling the impressive 180-square-metre penthouse for $10.5 million a month ago, CBRE sold a 295-square-metre sub penthouse for an astonishing $13.75 million last week.

The spacious sub-penthouse on level five of the building is an amalgamation of two apartments into a single residence, with the sale price equating to $46,610 per square metre.

CBRE, Director Ben Stewart said the shortage of brand new luxury apartments in the area has driven strong demand from discerning downsizers.

“1788 Double Bay has delivered a bespoke luxury experience, never before seen in the area,” he said. “Double Bay as a suburb is currently undersupplied, demand is very strong with 1788 Double Bay being the first new product the area has seen in five years.”

With 11 of the 31 designer apartments sold for $55 million at launch, only 15 remain to be sold.

“This is a rare opportunity to purchase into one of Sydney’s most exclusive address,” said Ben Stewart.

“Buyers have been drawn to the convenience of the location as well as the local amenities Double Bay provides.”

Construction will commence in early 2018 with completion expected late 2019.

 

SOURCE: Feature Article

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