Port Melbourne penthouse yet to be built sells for $10m suburb record

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A Melbourne apartment soon to be constructed on the waterfront has smashed a suburb record, fetching $10 million.

The sale of the off-the-plan penthouse in Port Melbourne has set a new benchmark in the bayside postcode, crowning a luxe new complex which will grace premium space opposite Station Pier.

It is the most expensive off-the-plan apartment ever sold in Port Melbourne, listing agency Marshall White said.

The off-the-plan apartment record in Victoria is $38 million paid in February 2023 for a sub-penthouse in developer Beulah's $2.7 billion twin tower project in Southbank, in the CBD.

103 Beach Street, the deluxe pad will be across the road from the wharf, where major cruiseliners dock on their around-the-world voyages. It is also the ocean gateway from Victoria to Tasmania, where the Spirit of Tasmania ferry departs, and is an icon of Melbourne.

The stretch of sand and water, edged by a palm-tree lined esplanade, is moments away.

The 103 Beach Street penthouse buyers are a local family, according to a statement from Marshall White.

It sits atop a 17-residence build by Sydney-based developer Luxcon, alongside architectural firm Carr Design with gardens by Acre and interiors by Coco Republic.

Marshall White director Leonard Teplin said the pier-front location, as well the high-calibre craftsmanship, was a drawcard for prospective buyers.

"Opportunities to own property in such a coveted location are genuinely a once-in-a-generation," Mr Teplin said in a statement.

"It's incredibly rare to find a building offering just 17 exquisite apartments.

"Not only are you getting unmatched views of the bay and the city, but you're able to enjoy those views in the comfort of an incredibly spacious, light-filled and well-designed home."

Buyers can select from two colour palettes - a "salt" or a "smoke" interior scheme, with fresh whites, light greys and "honey accents", flourished with Swiss appliances and oak floors, the listing explains.

9News Website
Emily Power


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