Melbourne's new rash of penthouses continue to set the benchmark

It's a great time if you happen to be in the market for an ultra-luxury abode withinin one of Melbourne's premier apartment projects. There's no shortage of choice, with some of the more recent releases to the market looking to set new benchmarks for size, price and overall luxury.

Hot on the heels of Mirvac unveiling The Grand Pavilion Penthouse within their Eastbourne development, Optimus Developments are preparing to release K1 Residences.

What makes the K1 Residences unique is that every dwelling within the project spans an entire floor; 13 levels and 13 apartments. Located off St Kilda Road, Optimus Developments have chosen to put the rare offering to market.

The project's smallest residence measures a spacious 175sqm, with every apartment afforded 360 degree views. K1 Residences' penthouse will also include a 135sqm terrace and rooftop lap pool.

Fully delivered by Optimus Developments, we believe that K1 Residences will set a new benchmark for innovation and elegance in Melbourne. These are sophisticated and generous homes, with a sense of expansiveness that will embrace you upon arrival.

The apartments will feel like grand established mansions with private gardens.

Andrew Karpati, Chief Executive Officer, Optimus Developments

While K1 Residences shapes as a project devoted entirely to penthouse-style dwellings, Mirvac's Grand Pavilion Penthouse shapes as the ultimate offering to the market. Set above the Eastbourne which will account for what is now the Dallas Brooks Centre, the Grand Pavilion Penthouse is a collaboration between Bates Smart and Mirvac Design.

The numbers for the Grand Pavilion Penthouse are impressive with 507 square metres of internal living space, supplemented by a 301 square metre terrace. Outdoor features include an 11 metre long transparent perspex sided pool and spa, and 50m frontage to the Fitzroy Gardens.

Set 11 levels above the street, Mirvac have now opened a tender process for the dwelling, with interested buyers having until mid-November to log their interest.

Split between two wings, the Grand Pavilion Penthouse's west wing holds the master bedroom, walk in robes, ensuite, study, retreat and gym which can adapt to become a 5th bedroom. With either wing split between a central living/dining area, the eastern wing is devoted to the three remaining bedrooms, each with its own en suite and an additional bathroom.

The Grand Pavilion Penthouse also comes with parking for six vehicles and a Living Collection experience which includes an all-inclusive butler service, Pet au Pair and art curator provided over the course of a year.

While Mirvac's Grand Pavilion Penthouse shapes as Melbourne's best, competition is likely to come by way of Crown Resorts/Schiavello's One Queensbridge project. According to The Australian, the tower set for the banks of the Yarra will become Melbourne's first super prime development.

With a six star hotel included, One Queensbridge's private residences are also set to attain a similar level of luxury.