Milsons Point off the plan penthouse style apartment fetches $15.6 million

All eight luxury apartments in the Astonia Residences complex in Milsons Point have sold within three weeks of a re-launch by nascent project-marketing firm Boutique Estates, with one fetching $15.6 million.

The apartments in the three-storey development at 10-18 Cliff Street were sold from $4.5 million, totalling more than $48 million in sales at an average of $22,500 per square metre.

The top price of $15.6 million was for a whole floor apartment of 780 square metre, reflecting $20,000 on the first floor. It has seven bedrooms, eight bathrooms, a home cinema and a gymnasium, and is believed to set a record for an off-the-plan apartment on Sydney’s North Shore.

The Astonia Residences was the first project-marketing assignment by Boutique Estates, established in 2013 by Vanessa Gilbert and Juliet Anderson, both of whom have experience selling prestige homes and acting as buyer’s agents.

“Two of the purchasers were from mainland China while the others were Empty Nesters from the upper and lower North Shore,” said Vanessa Gilbert, a director of Boutique Estates.

“What appealed to buyers in particular was the size of the apartments which are significantly larger than is standard for Milsons Point and across Sydney. Each has at least three bedrooms, three car spaces, and substantial storage space. In reality they are a similar size to the large family homes they will be leaving.”

Fellow director, Juliet Anderson, said the design by Nettleton Tribe, the water views and the convenient and energising location were contributing factors for buyers.

The Astonia Residences is being developed by CSPD Pty Ltd and is expected to be completed by September, 2016.