The penthouse at Sorano House in Kangaroo Point has secured a record-breaking $14 million off-the-plan sale, underscoring the soaring demand in Brisbane’s luxury residential market.
This sale price translates to an unprecedented $45,000 per square metre, surpassing the previous record of $35,000 per square metre set by Spyre Group’s Moray House project last year.
The luxurious two-storey penthouse at 12 Hamilton Street boasts 180-degree views of the Brisbane River and city skyline. It includes four bedrooms, 5.5 bathrooms, and exclusive amenities such as a private rooftop with a pool, spa, sauna, outdoor dining area, and firepit.
Sam Sgroi, Managing Director of Trezetto Developments, described the sale as indicative of a “new age” for Brisbane’s luxury residential market, highlighting the Sorano House penthouse’s unique appeal and irreplaceable location.
Phillip Rand, Project Sales Director at YPM Group, noted that the buyer, a Brisbane local, had been searching for a distinctive riverfront property for over two years. The sale sets a new internal sales rate record for Brisbane and aligns the city’s property values with those in Sydney’s most prestigious waterfront suburbs.
Sorano House was launched to the market in October 2023. Four of the six single-storey apartments have already sold for an average price of $8.6 million. Construction is currently underway and is anticipated to be completed in early 2025.
Published 13-April-2024
