St Kilda Road apartment asking $45 million – a record Melbourne high

This office at 409 St Kilda Road will be demolished to make way for The Muse

A penthouse atop a proposed 15-level apartment building, earmarked for a spectacular site at 409 St Kilda Road, has been listed for $45 million – a price which if achieved, would set a record high for a Melbourne flat.

Devitt Property Group, which is owned by Peter Devitt, the founder of builder LU Simon, is behind the residential complex, The Muse (pictured, top), which is earmarked to replace an office acquired 15 years ago.

On the south-east corner of Toorak Road West, opposite South Yarra streets which are not zoned to allow for high-rise redevelopment, 409 St Kilda Road enjoys view security to the CBD over the Shrine of Remembrance and Royal Botanic Gardens.

This feature, along with amenities including a 20-metre lap pool, gym, serviced club lounge and 6-star hotel ground floor lobby, are amongst The Muse’s marketing features.

The relatively low density – with no more than 42 residences planned – is another.

Unveiled almost a year ago as offering a level of luxury unavailable in the state, all of The Muse’s apartments will contain three or more bedrooms. The units will range in size from 219 square metres to 1001 square metres.

All dwellings will include a private garage able to accommodate a minimum of three cars.

The units, the cheapest of which will set a buyer back $3.2 million, are expected to arouse interest from occupants within what are considered to be the city’s most prestigious apartment buildings: the Melburnian (250 St Kilda Road) and The Domain (1 Albert Road, on the south-west corner of St Kilda Road).

Designed by Bruce Henderson Architects – potential buyers of The Muse flats have an option to work with Bruce Henderson Interiors, Kerry Phelan Design Office (K.P.D.O) or Greg Natale, for a customised fit-out.

Alternatively, Devitt Property Group will allow buyers to engage their own interior designers to create “living art” apartments.

“The fact that you can buy your apartment as a white shell and work with your choice of three of Australia’s leading interior designers is unheard of,” Sydney-based Mr Natale, said.

The Muse’s proposed apartments will include a curved 4.2 metre kitchen island wrapped with veined marble, curved vanities and interior walls, $11,000-plus toilets by Japanese maker, Toto, natural travertine and marble flooring, French oak herringbone parquetry and hand stitched leather finishes within the walk-in wardrobes.

An invite-only double-storey display suite has just been completed at the top of the office building which will be demolished to make way for The Muse.

Daniel Cashen, director of Knight Frank’s Victorian residential division, is marketing units within the complex, which will be built by LU Simon.

The record price for a residential property in Victoria was set earlier this year when art dealer Rod Menzies sold Stonington, the country’s former Government House, for $52.5 million to an Asia-based investor.

Mr Menzies acquired 336 Glenferrie Road, Malvern, ten years earlier for $17.5 million.

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Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of