Lleyton, who is no stranger to real estate investing, paid a speculated $8.35 for two penthouses of the award winning building, which he amalgamated into one super penthouse occupying the whole 19th floor.
The record price set a new benchmark for apartment values in the boulevard, and contributed to a rush of developers flocking to St Kilda Road to build new projects.
Indeed there was a market for luxury apartments in St Kilda Road, with Lleyton’s record price smashed twice in the second half of last year – first in October when an international buyer paid $8.56 million for a penthouse in Morry Schwartz’s 401 St Kilda Road, and again in November when a local business identity paid $10 million for a penthouse at Ubertas’ 505 St Kilda Road.
Agents speculate Lleyton’s pad, which has 360 degree views over Port Phillip Bay, the CBD and to the Dandenongs, could be worth more than $16 million today – almost twice what he paid in 2004.
At that price, Yve is would be the most expensive property in Lleyton’s national portfolio. In about 2003, he paid $3.2 million for a lakeside mansion in Adelaide, and in 2005, he paid a speculated $4.5 million for a home in the NSW retreat of Palm Beach, about 40 kilometres north of Sydney.