Barangaroo South penthouse sells for $140m, sets new price record

Sydney penthouse takes the crown as Australia's most expensive piece of real estate.

The penthouse of Lendlease’s One Sydney Harbour project at Barangaroo South is now officially the nation’s most expensive home after selling for more than $140 million. Picture: Supplied.

A penthouse in Sydney has taken the crown as Australia's most expensive piece of real estate, selling last week for $140 million.
The two-storey residence in Lendlease’s One Sydney Harbour tower at Barangaroo South, was purchased off-the-plan by a local buyer who will combine two apartments they purchased in a line. When the tower is completed in late 2023, the price paid will be equivalent to $100,000 per square metre.
Lady Mary Fairfax’s prized Point Piper mansion, Fairwater, previously held the title as the country’s priciest property. It sold to tech billionaire Mike Cannon-Brookes and his wife Annie for $100 million in December last year following the Fairfax matriarch’s death.
Lendlease’s property CEO, Kylie Rampa, said demand had been strong within the tower, highlighting the shifting wants of Australian homeowners.
“The sale of the penthouse at One Sydney Harbour is a paradigm shift for the Australian property market with an apartment claiming the title of Australia’s most valuable residential property for the first time. It’s a title historically reserved for significant houses,” Ms Rampa said.

An artists’ impression of the One Sydney Harbour project at Barangaroo South. Picture: Supplied

“The record-breaking penthouse sale is confirmation that the Barangaroo South precinct is a world-leading location where people aspire to live, work and visit.”
The unidentified owner of the nine-bedroom penthouse is set to live in luxury. Eight-metre tall ceilings feature throughout the more than 1,600 square metres of curated living space. It will also have its own private rooftop pool, spa and gymnasium.
One Sydney Harbour has already achieved over $1 billion in sales and commitments. The first of three luxury towers will stand at 72 storeys and include 317 apartments. A second tower is planned to house 297 apartments across 60 levels, with a glazed pedestrian walkway connecting the two.