A St Kilda apartment notched one of Melbourne’s loftiest sales last week after a $3.3 million deal was penned for the property.
The penthouse pad at 47/1 St Kilda Rd sold via an expressions of interest campaign which attracted four offers.
The property had a $3.2-$3.5 million price guide and sold to a young, single professional who plans to lease the property out and one day move in.
The property last sold for $1.6 million in 2006, according to CoreLogic.
Kay & Burton Armadale agent Andrew Smith said the result was a shining light in a challenging market.
“It’s a pretty extraordinary apartment and a pretty strong result for the market, which speaks about the area and the apartment itself,” Mr Smith said.
“St Kilda the last few months has certainly come a long way in terms of improvements, including the Gatwick and the opening of the Espy Hotel.
“If it’s compelling, it’s selling.”
The six-bedroom pad features views across Port Phillip Bay and the city skyline, a huge wraparound terrace and a contemporary fit-out.
“Outstanding, unique properties in good positions are in short supply and because of the rareness of such a find we are still finding we have multiple buyers for them,” Mr Smith said.
The result came in a week when Melbourne returned a 46.9 preliminary clearance rate from 1179 auctions, according to CoreLogic.
It sat among other impressive sales including a dated Elsternwick house at 45 Seymour Rd which flew $590,000 past reserve to a $3.59 million sale.
And a near-new luxury Fitzroy North house at 10 Alister St, which sold under the hammer for $3.075 million.
Just 204 homes are expected to head under the hammer this week in the lead up to Christmas.