The penthouse of Melbourne’s luxurious Royal Domain Tower is for sale seeking more than $16 million.
Occupying the 42nd floor, the c570 square metre dwelling is being offered by property developer Derek Wong and his wife, May.
Royal Domain Tower, opposite the Shrine of Remembrance and with city view security, is amongst one of Melbourne’s most exclusive apartment buildings.
In 2013, billionaire businessman Solomon Lew paid developer Harry Stamoulis about $13.3 million for a full-floor sub-penthouse, occupying the 36th floor.
Mr Stamoulis created the dwelling out of a shell he bought for $5.54 million in 2006.
The Penthouse, 42/368 St Kilda Road, Melbourne
Ms Case describes her listing as “Australia’s best penthouse” – “rivalling the best of what New York, London or Hong Kong has to offer”.
“With unimpeded 360 degree views, this is a trophy residence that encapsulates the essence of luxury living with Melbourne spread before you”.
The apartment includes terraces to the north west and north east capturing views of the Melbourne Cricket Ground, Melbourne Park , the Dandenongs, Albert Park Lake, Port Phillip Bay and Brighton Yacht Club.
Configured with two wings, the cbus automated dwelling includes a library, fully fitted bar, formal and informal living areas and four bathrooms.
It includes four bedrooms – the master ensuite with a steam room.
Ralph Lauren fabrics, Italian Nero Marquina marble, stone finishes and American oak timbers have been used in a recent renovation.
The title also includes two storage cages and a bottled controlled cellar able to store 1000 bottles.
Royal Domain Tower
Royal Domain Tower is St Kilda Road’s tallest building.
For 10 years, it has been Melbourne’s tallest “suburban” skyscraper (that mantle will soon go to the 50-storey Capitol Grand apartment complex, which Larry Kestelman’s LK Group is building at the north-west corner of Toorak Road and Chapel Street in South Yarra).
Given its height, Royal Domain Tower is one of Melbourne’s least dense residential buildings – with 120 oversized dwellings.
Most apartments have three car parks on title.
The penthouse Ms Case is marketing has nine.
A small golf driving range, leisure centre with 25-metre pool, sauna, gym and another library and steam room – are amongst the amenity occupiers at 368 St Kilda Road can access.
Given planning sensitivities – the near the Shrine of Remembrance – tall towers which might overshadow are unlikely to rob the Royal Domain Tower upper levels of views.
A building adjacent to it at 200 Wells Street, South Melbourne, was recently permitted for a 22-storey building.
Recent performance of the top-end apartment market
In May, a sub-penthouse at 150 Clarendon Street, East Melbourne, hit the market asking $46 million.
In June, developer Elias Jreissati sold a double-storey penthouse at Port Melbourne’s HM@S complex for $16.5 million. This unit had been for sale for more than five years.
Mr Jreissati owns another apartment in this price stratosphere, within Southbank’s Eureka tower. This unit, 191/85 Rouse Street, had been for sale asking more than $18 million at the same time as the HM@S unit.
Greg Hargreave also moved a full-floor apartment at 35 Spring Street in the Melbourne CBD three months ago.
Opposite Treasury Gardens, this dwelling is understood to have sold for about $14.5 million – less than the guide price ($16.5 million to $18.5 million) attached to it when it hit the market last October.