Lowe Resets Victorian Off-the-Plan Record with ‘Millionaire’s Row’ Sale

Toorak’s Studio Kennon were brought in as architects and interior designers, with Myles Baldwin as the landscape architect for the project that will offer “house-sized apartments” from 295 square metre.

Lowe Living announced this week that the sale of the project's two penthouses had achieved a blended internal rate of $49,926 per sq m. 

Lowe Living said this was a record price-per-sq-m benchmark and said the closest comparable off-the-plan sale was at Como Toorak in 2025, which delivered a per-sq-m rate of $46,659, according to Cotality data. 

Sale prices were not disclosed, however, each apartment transacted for between $16.5 million and $17.5 million. 

▲ Lowe Living filed its plans for Maison Savoy in April this year.

The developer said that 30 per cent of the ultra-luxe residences had sold within the first eight weeks of the project launching to market, amounting to $45 million in sales with a blended sq m rate of $40,703. 

The Maison Savoy is near the well-known Brighton Bathing Boxes, Royal Brighton Yacht Club and Middle Brighton Baths, and Church Street’s retail and dining precinct.

Lowe Living co-founder Emma Lowe said the sale spoke to the confidence of high-end buyers.

“Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living,” Lowe said.

▲ Sorrento-based Aurora Spa & Bathhouse will be the “wellness curator” of European-inspired spa with a hydrotherapy pool, sauna and steam room.

Lowe Living co-founder Tim Lowe said the Melbourne market had been tested in recent years, but that confidence remained strong at the luxury end of the market. 

“The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.” 

Brighton, Lowe said, had some of the strongest fundamentals in Melbourne, with limited new supply and a tightly held market. 

“It’s incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers’ needs and lifestyle,” he said. 

The Melbourne builder-developer, which has a $1-billion pipeline, has begun construction of its St Kilda West project. 

The development, at 364-366 Beaconsfield Parade, is to deliver 18 residences. 

It was designed in collaboration with architect Jackson Clements Burrows, interior designer Brahman Perera and landscape architect Plume Studios.