Brisbane sub-penthouse sale smashes into record territory

A Brisbane family has paid one of the highest prices per square metre in Queensland for their new sub-penthouse which is now under construction. SEE WHAT THAT BUYS THEM

Spyre has just finalised the sale of one of their last pieces of property remaining at their Moray House Development in New Farm, selling its sub-penthouse for $10.95m.

A Brisbane family has paid one of the highest prices per square metre in Queensland for their new sub-penthouse which is now under construction.

The four bedroom property, which is one of just six luxury apartments in Spyre Group’s exclusive Moray House development, has sold for $10.95m.

The 309sq m New Farm apartment (over $35,000/sqm) also has 37sq m of miscellaneous space available to it that would ease its price/sqm to $31,600 – one of the highest levels Brisbane has recorded.

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The sub-penthouse has a supreme position on the river, with direct access from the complex to the River Walk.

Moray House has views across the river and to the Story Bridge and city skyline.

The sub-penthouse will have its own gym, office, full-sized laundry, wine cellar, five bathrooms, chef-grade kitchen, private master suite, and a covered outdoor terrace looking to the Story Bridge, Brisbane River and the city skyline.

Among the highest price per square metre sales Brisbane has notched were an $11.3m deal in New Farm’s Oxlade Drive (over $35,000 per sqm), and Residence 4 in the Moray House development (about $34,000).

Moray House hit Brisbane’s apartment price record in January when its penthouse sold for $15.75m (close to $20,000/sqm), with the city then recording a fresh peak two months later when the penthouse at The Argyle in New Farm sold for $16.5m (about $23,500/sqm).

An optional colour and design scheme for the new owners of the sub-penthouse with views across to the Story Bridge.

Spyre Group director, Andrew Malouf, said the latest “exceptional property” sale was a vote of confidence in Brisbane’s high end market.

“The sale of Residence 5 reflects the growing demand for the elevated quality of life we offer in one of Brisbane’s most sought-after areas.”

Place Kangaroo Point director Simon Caulfield – who sold the sub-penthouse with wife Courtney – said buyers at that level were focused on features and location rather than price, with demand continuing to escalate.

The home is one of just six in the multimillion-dollar exclusive complex.

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“Spyre’s Moray House is a testament to the extraordinary demand for luxury living in Brisbane,” he said. “The development has set a new standard for excellence, and buyers recognise it as a true masterpiece in our city’s property landscape.”

Mr Caulfield said the price per square metre in penthouses were generally lower because they tended to be larger than other apartments.

Among properties looking to smash through Brisbane’s record price level this year were the 1,000sq m-plus penthouse at 250/1 Newstead Tce, Newstead which has $20m price hopes, and The Emporium Penthouse in Southbank that is targeting circa $30m.

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