Sydney Penthouse Poised to Be Nation’s Priciest Home

The only penthouse between the Sydney Opera House and the Harbour Bridge may well become Australia’s most expensive home.

The One Circular Quay Sydney penthouse comprises five bedrooms, a private lift, infinity-edge swimming pool and uninterrupted harbour views, and is expected to trade for north of $140 million.

The joint-venture behind the landmark development, Lendlease and Mitsubishi Estate Asia, has recorded more than $2 billion in sales for its 59-storey residential highrise with 90 per cent of the 158 apartments sold.

A notable exception is the penthouse, which is expected to eclipse the current holder of the nation’s most expensive home, Lendlease’s One Sydney Harbour Residences One penthouse, which sold for circa $140 million to Yan Zhang in 2019.

The main rival to the One Circular Quay Sydney penthouse taking the title is in a boutique residential project at Darling Point that includes a penthouse expected to fetch $160 million.

▲ A rendering of the 59-storey residential tower being developed by Lendlease and Mitsubishi Estate Asia.

Also still available at One Circular Quay Sydney are several three-bedroom apartments priced at more than $12.75 million as well as full-floor apartments for upwards of $60 million.

The site was acquired for around $850 million in 2022 by the joint venture. The project topped out on October 17 and is expected to be completed late next year. 

Two towers are rising on the site, the residential highrise and a 28-storey tower that will be home to the first Waldorf Astoria hotel in the country. 

▲ One Circular Quay tower could boast the most expensive apartment in Australia.

The joint venture, along with Nippon Steel Kowa Real Estate, is also working to transform an office building at 175 Liverpool Street in the Sydney CBD into a residential asset.

The trio secured the 3750sq m site in July and announced plans to create two towers of about 300 apartments plus 2000sq m of retail and commercial space.