Record $3 million penthouse sale in Coronation’s 8 Phillip Street, Parramatta

A record price has been paid for penthouse in Parramatta.

propertyobserver.com.au 20-11-2016

The $3 million sale was in the initial offering of Coronation Property’s highly anticipated 8 Phillip Street in Parramatta.

Local Parramatta businessman Bob Reiman (below) had originally planned to buy a standard three bedroom apartment, but upgraded to the $3 million penthouse – one of a handful of apartments on the top two floors of the 55 storey tower.

The apartments for sale started from $459,000 for a studio apartment.

The prior disclosed off the plan penthouse offerings elsewhere in Parramatta had been in the $2.2 million to $2.6 million range.

“I was really impressed with the quality of the finishes of the apartment and the design by international architect Woods Bagot,” said Mr Reiman.

Its stage one sold out, after more than 200 expressions of interest were received prior to launch day resulting in more than $110 million sold in the first few hours.

Further strong sales are anticipated over the next few days.

The luxury 55-storey tower will feature boutique QT Hotel accommodation on its lower levels, together with world-class facilities including a signature QT bar & grill restaurant which will also be open to the public, multiple meeting and event spaces, Spa Q, a ballroom accommodating 200 people seated and an alfresco infinity pool on the 18th storey.

8 Phillip Street will comprise just over 300 residences when completed in 2020, with apartments to include one, two and three bedroom configurations, as well as studio and penthouse options.

The tower’s pièce de résistance is its spacious ‘Studio 54’ rooftop bar which will be open to residents as well as the public and will easily be able to accommodate 600 patrons, who will be able to enjoy unapparelled views of Sydney’s CBD and surrounds.

Jason Soulos, Sales Director, Coronation Property, said the response to 8 Phillip Street had been exceptionally strong in the lead-up to the sales launch.

“Although we were expecting robust sales at our launch, it wasn’t until we opened our project gallery in recent weeks that we were able to truly gauge just how exciting the project had become to locals – many of whom have since purchased apartments within the development,” Mr Soulos said.

“The addition of high-tech, immersive virtual reality booths within our project gallery to showcase the project to buyers was exceptionally well-received – the technology was able to virtually transport buyers right to the top of the tower to experience its facilities and vistas for themselves.”

Buyers on the day also cited the inclusion of world-class landscape architecture and outdoor design elements by project partner Jamie Durie as another drawcard for 8 Phillip Street, with the gardening guru planning a floating forest and trapeze garden to grace the tower’s façade and foyer.

According to Mr Soulos, the majority of purchasers to date are owner-occupiers, with many currently living or working in Parramatta.

The project gallery and display apartment is open from 11am – 4pm on Thursdays to Sundays or by appointment.  Appointments can be made by calling 1800 753 163 or enquiring via  sales@coronation.com.au.

For more information visit liveat8phillipst.com.au.

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