SP Setia’s project to set record for Australia’s most expensive penthouse

Sapphire By The Gardens and Shangri-La Melbourne - SP Setia's project in Melbourne, Australia

KUALA LUMPUR: SP Setia Bhd is about to set a new benchmark for Australia’s most expensive apartment with the impending sale of a 650 sq m luxury penthouse on top of the recently launched Sapphire By The Gardens in Melbourne. 

The A$$29mil (RM95.5mil) penthouse, to occupy the entire top floor of the 57-storey residential tower, will boast spectacular 360-degree views of Melbourne, the property developer said in a statement.

Sapphire By The Gardens comprises a residential tower, reportedly with 345 units of apartments with a gross development value of A$376mil (RM1.24bil), that is connected by a sky-bridge to a second tower, which will host Melbourne’s newest five-star Shangri-La Hotel.

The sky-bridge will become a key part of the building’s façade and has been designed to reflect a sapphire.

The SP Setia statement did not say whether a buyer had been secured for the penthouse.

Choong Kai Wai, chief executive officer of SP Setia’s operations in Australia, said in the statement that the penthouse was situated in a prime CBD location and that the building would establish itself as an iconic part of Melbourne’s skyline.

“Sapphire By The Gardens is perfectly located, and offers incredible access to world-class infrastructure, transport and education facilities as well as having Melbourne’s newest five-star hotel – the Shangri-La – right next door,” he said.

“It is rare to find an opportunity to purchase CBD property that overlooks parkland, and the 360-degree view from the penthouse will be comparable with some of the most sought-after views overlooking famous locations, like Hyde Park in London or Central Park in New York.”

He said SP Setia, knowing that the buyer of the penthouse would have “a very distinctive style and prestigious tastes”, had set aside a budget of A$5mil (RM16.5mil) to provide customisations to the design, layout and finishes, including a kitchen designed by celebrity Australian chef Shannon Bennett.

“There will even be 10-car spaces made available to the penthouse buyers to securely and conveniently garage their fleet of cars,” Choong said.