Record $14m for Brisbane penthouse not even built yet – realestate.com.au

News Corp Australia Network

A two-level sky home in inner Brisbane has sold for $14 million before it has even been built — the highest residential sale in the city so far this year and an eyewatering record internal square metre rate of $45,000.

As the cost of building soars, apartments across South East Queensland are becoming more expensive than ever, but there are plenty of buyers with deep pockets looking for luxury, house-sized units.

An artist’s impression of the rooftop of the penthouse at ‘Sorano House’ that has sold for $14 million. Image supplied.

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The penthouse in ‘Sorano House’, by Sydney-based developer, Trezetto Developments, in Kangaroo Point was snapped up by a local family off-the-plan before it could even be released to the market.

The sale price reflect’s Brisbane’s highest ever internal square metre rate, breaking

the previous record set in October last year at Spyre Group’s ‘Moray House’ development in New Farm of $35,000 per square metre.

An artist’s impression of the rooftop of the penthouse at ‘Sorano House’ that has sold for $14 million. Image supplied.

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YPM Group project sales director, Phillip Rand, who negotiated the sale, said the buyer had been looking for almost two years for something “unique, private and irreplaceable” along the riverfront.

“We’re seeing unprecedented demand for irreplaceable property,” Mr Rand said.

“This record internal sales rate has not been seen before in the Brisbane market and are the kind of values akin to some of Sydney’s premier and established waterfront suburbs.

An artist’s impression of Sorano House — a new residential development coming to Kangaroo Point. Image supplied.

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“This sale will pave the way as a new benchmark for Brisbane’s ultra luxury market.”

Currently under construction at 8-12 Hamilton Street, Kangaroo Point with expected completion early next year, ‘Sorano House’ features seven full-floor apartments, with only two remaining for sale.

The four units that have already sold fetched an average sale price of $8.6 million.

The internal footprint of the property is 311 sqm, with a 39 sqm balcony, and an incredible 333 sqm private roof terrace.

REAL ESTATE: An artist’s impression of the foyer of Sorano House. Image supplied.

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Exclusive artist impressions of the penthouse reveal a private terrace with an outdoor entertaining zone, pool, spa, sauna, and firepit.

The four-bedroom, five-and-a-half bathroom residence has 180 degree views of the Brisbane river and city skyline, and features multiple living areas, four-car accommodation, and

around 70m of frontage over two levels.

An artist’s impression of Sorano House, which is under construction at 8-12 Hamilton Street, Kangaroo Point.

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Other features include a 5.5m kitchen island bench, a suite of Wolf, Sub Zero, and V-Zug appliances, and a travertine-clad lift lobby.

Trezetto Developments managing director Sam Sgroi said the sale represented a “new age” for Brisbane’s luxury property market.

“The sale of the Sorano House penthouse is testament to the maturity of the prestige

market in Brisbane and the value buyers are seeing in A-grade locations which will

never be repeated.”