Mind-blowing $17m off-market deal for Melbourne penthouse

An incredible three-level penthouse that crowns one of the hottest developments in Melbourne has been secured in an off-market deal worth an eye-watering $17 million.

At the summit of the exclusive 661 Chapel St project in South Yarra sits the rare offering that’s been purchased as an empty shell, with a further $15+ million expected to be splashed out on kitting out the luxury pad.

Burton Estate Agents’ Taylor Dow has sold the majority of building over the past 18 months but says the penthouse is the talk of the town.

“It’s insane, it’s probably one of the coolest properties in Melbourne, maybe even Australia,” he says.

“It’s got a rooftop pool and a whole floor for entertainment, it’s quite spectacular. It’s a baller’s pad!”

“It has beautiful unobstructed views that span from Port Phillip Bay to the city and straight down the Yarra River that can’t be built out because it sits right back from Melbourne High School.

“It is literally a 360-degree panoramic outlook of everything you could ever possibly want in an aspect,” Taylor says.

Such is the mind-blowing nature of the iconic property, it was a case of love at first sight for the new owner, who didn’t think twice before purchasing the five-star penthouse there and then.

“I met a local buyer who I knew it would be the perfect property for, so I said to him: ‘Hey, come upstairs to look at this concrete shell penthouse’.

“He was the first person to see the property and as soon as he was up there, he bought it on the spot,” Taylor explains.

“They’ll probably spend a further $15 million or more, depending on his taste, fitting out the property.”

It appears that the demand for high-quality developments is growing by the day, with buyers more and more happy to spend big bucks on top of the range inner-city apartment projects.

“We’re selling quite a lot of amalgamated apartments in 661 Chapel St because people are coming in and buying a whole floor, knocking down the walls and making beautiful big four- or five-bedroom units,” Taylor says.

“People are happy to spend big on good quality projects – if the building is exceptional, then people are going to buy it.”

Address

661 Chapel Street, South Yarra, Vic 3141

Agent

Taylor Dow
0447 003 923
Burton Estate Agents

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