St Kilda Road penthouse seeks $16m

The kitchen at 42/368 St Kilda Road.

The Royal Domain Tower penthouse is for sale seeking more than $16 million.

Occupying the 42nd floor, the c570 square metre dwelling is owned by property developer Derek Wong and his wife, May.

RT Edgar’s Sarah Case and Rudy Van Der Berg have the listing.

The apartment is expected to sell for more than $16 million.

Royal Domain Tower, opposite the Shrine of Remembrance, is amongst Melbourne’s most exclusive residential buildings.

In 2013, billionaire Solomon Lew paid developer Harry Stamoulis c$13.3m for a sub-penthouse on level 36 – created out of a shell acquired for $5.54m seven years earlier.

The Penthouse, 42/368 St Kilda Road

Ms Case describes 42/368 St Kilda Road as “Australia’s best penthouse” and “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 agent added.

The dwelling has views capturing the Melbourne Cricket Ground, Melbourne Park , the Dandenongs, Albert Park Lake, Port Phillip Bay and Brighton Yacht Club.

It is designed with a library, 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 were used in a recent renovation (story continues below).

The penthouse has city views.

The title also includes two storage cages and a 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 which Larry Kestelman’s LK Group is completing in South Yarra).

The St Kilda Road penthouse.

It contains 120 oversized dwellings, most with three car parks (the property 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 building’s occupier-only amenity.

Top-end apartment sales

In May, a sub-penthouse at 150 Clarendon Street, East Melbourne, hit the market asking $46m.

In June, developer Elias Jreissati sold a double-storey penthouse at Port Melbourne’s HM@S complex for $16.5m; this unit had been for sale for more than five years.

That vendor owns another unit in this price stratosphere – at Southbank’s Eureka – which was once for sale asking c$18m.

Greg Hargreave also moved a full-floor apartment at 35 Spring Street speculated to have recently cost $14.5m.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of