Melbourne’s apartment record price shattered

Jack Hayes

The exclusive sky-high penthouse at Sapphire by the Gardens has broken the sale price record for an apartment in Melbourne, selling for a whopping $39million.

Sold to local businessman Adrian Portelli, the double-storey penthouse, which is currently just a concrete shell, covers levels 57 and 58, across 1200sqm.

Following the purchase of this eye-wateringly expensive apartment, Mr Portelli caused headlines in early May after craning his $3 million McLaren Senna GTR to his penthouse, telling media outlets the car would become the centrepiece of the apartment.

Managing director of Colliers Residential Victoria Tim Storey said Mr Potelli’s fondness of this particular apartment came with the development’s location, the ability to customise the residence and having exclusive access to what will become Melbourne’s most prestigious 5-star luxury hotel – Australia’s flagship Shangri-La.

“Together with architects Fender Katsalidis and Cox Architecture, Colliers Residential has been working with the purchaser to customise the space to suit his lifestyle,” Mr Storey said.

Developed by SP Setia, Sapphire by the Gardens is located adjacent to Carlton Gardens and the Royal Exhibition Building,

“I’m looking to install a swimming pool, multiple kitchens, and potentially a bowling alley,” Mr Portelli said.

According to developers SP Setia, 99 per cent of apartments are sold in the building with only a handful left on market. •

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