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Sale of $26 Million Penthouse in Sydney’s Opera Residences Breaks Australian Apartment Record

"There has been unprecedented demand for Opera Residences super premium apartments and this launch was the last opportunity to purchase a brand new apartment on Bennelong Point"


Sydney’s residential development on Circular Quay continues to break sales records as all luxury apartments were sold during its weekend launch.

The complete sell-out of Macrolink and Landream’s Opera Residences also included the remaining sub penthouse and the final remaining penthouse – both of which sold to local Sydney buyers for $16 million and $27 million respectively.

These transactions now break the record for the highest priced penthouse sold in Australia. This represents in excess of $95,000 per square metres which is also an Australian record for an apartment.

The previous record was broken just days ago by the sale of Opera Residences first penthouse selling for $26 million.
The weekend’s launch resulted in over $500 million worth of real estate sold.

CBRE Residential Director Tim Rees said the result was nothing short of phenomenal with the demand overwhelming for a super-premium product in the northern CBD.

“There has been unprecedented demand for Opera Residences’ super premium apartments and this launch was the last opportunity to purchase a brand new apartment on Bennelong Point,” he said.

“Bennelong Point is regarded as the pinnacle of residential locations and with the neighbours being National icons and the harbour itself, it’s easy to understand why.”

Prospective VIP buyers were keen to secure their desired apartment within the development, and were already lining up behind the door before the 8.30am appointments commenced. Buyers were predominantly local owner-occupiers looking to purchase a city apartment. The launch’s sales results highlight the underlying demand for the prestigious location along Macquarie street and the lack of new supply for super premium apartments in Sydney’s Northern CBD.

CBRE said Opera Residences is unsurpassed in position, vistas and luxury, expressing the quintessential Sydney experience of living on the world’s most beautiful harbour city.

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