A penthouse apartment sold in Parramatta that is yet to be built has set a record, selling for more than $3 million. The penthouse, part of a 314 apartment development at 8 Phillip Street in Sydney’s west, was sold for $3,325,000 to a western Sydney businessman and his wife, reported Domain.
The three-bedroom four-bathroom penthouse will be built on the 53rd floor next to Studio 54, which will be Sydney’s highest rooftop venue.
Coronation Property sales director Jason Soulos said the buyers wanted to remain anonymous. He said they were moving from the Hills District and said they had been looking for a smaller property between Cronulla and the north west.
The penthouse sold for more than five times the suburb’s median apartment price, setting a record rate per square metre. There are five more penthouses for sale on levels 52 and 53 of the tower, which will have a five-star QT Hotel on its lower levels. The hotel will include two of Rockpool Dining Group’s signature restaurants, multiple meeting and event spaces and a grand ballroom.