A Western Sydney-based businessman has set a new Parramatta apartment price record with the purchase of a penthouse in Coronation Property’s 8 Phillip Street development, which is due for completion in 2020.
The buyer, who wishes to remain private, purchased a three-bedroom, four-bathroom, 53rd-floor penthouse residence in the landmark residential tower for $3.325M, in the process overtaking the record set by a previous penthouse buyer at 8 Phillip Street in late 2016.
The buyer and his wife selected 8 Phillip Street after deciding to downsize from their Hills District home, because of a combination of the development’s high level of design and quality finishes, and its proximity to their respective places of work.
The new buyer’s penthouse is one of a handful of residences on the top two residential floors of the 55-storey tower, boasting the superior quality that 8 Phillip Street is renowned for, with residences featuring customised Woods Bagot interiors and a heightened level of exclusivity in a spacious 190sqm of internal living.
According to Jason Soulos, Sales Director at Coronation Property, the personalised service offering that allows purchasers to customise penthouse residences was a deciding factor for the buyer and his wife.
“Certainly, the opportunity for the buyer to have a private consultation with one of Australia’s premier architects, Domenic Alvaro from Woods Bagot, and the ability to choose the moodboard for the residence, as well as premium additions such as wine fridges, was a significant attraction,” said Mr Soulos.
“We feel such a significant investment warrants this level of service, to ensure the buyer and his wife move into a home that reflects their personal taste and style, and which differentiates it as distinctly theirs.”
Another contributing factor was the New York-inspired sensibility and style of 8 Phillip Street.
“The buyer mentioned that he was particularly impressed by the concept of having a five-star QT Hotel on the lower levels and residential living above, similar to developments he had previously seen in New York,” said Mr Soulos.
“Also, the recent announcement that two of Rockpool Dining Group’s signature restaurants will be located onsite at 8 Phillip Street was the icing on the cake.”
Indeed, the two restaurants will add further world-class cuisine to 8 Phillip Street’s highly-anticipated dining and entertainment precinct, which includes Sydney’s highest rooftop venue, Studio 54, plus offerings from QT Hotels & Resorts, who are planning a signature bar & grill restaurant, multiple meeting and event spaces, and a grand ballroom.
Designed by international design firm Woods Bagot, 8 Phillip Street will comprise 314 residences when completed in 2020, with apartments to include one, two and three bedroom configurations, as well as studio and penthouse options.
The development will scale new heights for Western Sydney residential living, with lavish apartments incorporating striking contemporary design elements, including high-quality joinery, track lighting and innovative windbreak balconies, which will provide residents with configurable outdoor living spaces. Residents will also enjoy an alfresco open-air pool on the 18th floor.
“8 Phillip Street will integrate contemporary design and lifestyle offerings with spectacular boutique hotel facilities, in the heart of Parramatta, which is fast transforming into Sydney’s second CBD,” added Mr Soulos.
Interested buyers are being encouraged to visit Coronation Property’s state-of-the-art on-site project gallery and accurate to-scale three-bedroom display apartment, before it closes down to make way for construction, noted Mr Soulos.
“We are now nearing the final phase of selling, so buyers who want a first-hand taste of the high standards they can expect in our apartments, should stop by the project gallery soon.