A new benchmark has been set in the landmark ‘272 Hedges’ building, with the sale of an apartment for a record price per square metre.

A private treaty campaign carried out by Kollosche agent Eddie Wardale, led to the sale of a 318m2 three-bedroom sub-penthouse for an unrivalled $5,500,000, or $17,295 a sqm.

The sale of apartment No. 3901 was gleaned after only 37 days on the market, with Eddie fielding 46 enquiries, leading to four offers surpassing $5,000,000.

Eddie says the apartment’s prime north-facing aspect and prestigious Mermaid Beach address were strong drawcards for purchasers, with enquiries split between local and interstate buyers looking for a permanent residence or lock-up and leave holiday home.

“The apartment was also styled and presented to an exceptionally high standard, with upmarket finishings,” says Eddie, “so much so that the buyer, who is a local but spends a lot of time in Sydney, purchased almost all of the furniture.

“Being local, the buyer also understood and appreciated the value of having a Hedges Avenue address, particularly in such an aspirational building.”

The latest deal cements Kollosche’s position as a leading sales agency for the building, having handled both off-the-plan and re-sales in ‘272 Hedges’ since its launch.

The $250 million project, delivered by Sunland Group and built by Hutchinsons, took 178 weeks to complete, rises to 44 storeys and incorporates 98 luxury apartments incorporating two to four-bedroom apartments, sky homes and penthouses, as well as two double-storey sky villas.

Kollosche principal Michael Kollosche, alongside agent Harry Kakavas, is currently marketing one of the sky villas – No. 2702 – which spans two floors covering 513m2 connected by a statement spiral staircase.

Featuring three living spaces, a private media room and four ensuite bedrooms with unfettered ocean views, the property, located on level 27, is set to go under the hammer on 15 January, 2023.

Kollosche is also set to bring to market in coming weeks the penthouse apartment 4201/272 on level 42 of the building. One of only four whole-floor apartments in the building and stretching to 650m2, it is a prized asset which will be marketed by Michael and Harry for $13,750,000.

Kollosche agents are also working on off-market opportunities within the building.

Early adopters in ‘272 Hedges’ continue to reap the rewards of re-sales inside the sought-after tower, making significant gains on their original purchase, with those who bought off-the-plan paying about $10,000 sqm, compared to the $17,000-plus figure of the most recent sale.

The first residents started to move in earlier this year, and have access to the building’s raft of resort-style amenities, including a concierge, indoor pool and spa, steam room, sauna and plunge pool.

Reach out to a Kollosche agent if you want to find out more about selling and buying opportunities within the salubrious ‘272 Hedges’ address.