ApartmentsKirsten CrazeMon 05 Oct 26
Year-Long Wait Ends as $17.5m Heirloom Penthouse Hits the Market
For more than a year, the top apartment at Molti’s Heirloom building in Kangaroo Point was not for sale.
Now it is, and the developer wants $17.5 million for it.
The 596sq m penthouse is the last of Heirloom’s five apartments to be released.
The Bureau Proberts-designed building at 4 Macdonald Street is being built by Brisbane heavyweights Graya with completion expected in May.
One of only two homes left in Heirloom, the four-bedroom, four-bathroom penthouse could set a new Kangaroo Point apartment record if it sells near its asking price.
Since Heirloom’s sales debuted in October last year, three apartments in the building have sold for over $10 million, the first of which went to Graya co-founder Rob Gray for $11.05 million on launch day.
At $38,501 per square metre, the transaction set a Brisbane record for price per square metre for a non-penthouse apartment, according to Molti managing director Ben Teague.
Teague said the remaining Kangaroo Point penthouse had been intentionally held back for more than 12 months.
“We’ve taken our time with the penthouse because it needed to be worthy of Heirloom and worthy of this ultra-rare position in Brisbane,” Teague said.
The top-floor penthouse will have protected 180-degree views of the CBD, Brisbane River, Kangaroo Point Bridge and Story Bridge.
“What has emerged is a home that combines extraordinary privacy, scale and an outlook spanning the CBD, river and Story Bridge,” Teague said.
“There simply isn’t another residence like this in Brisbane, and once it is sold, it cannot be replicated.”
The two-level penthouse has interiors by Carr and will feature a 227sq m rooftop terrace with a private pool, outdoor kitchen, dining area and covered entertaining spaces, as well as a two living areas, an indoor fireplace and four-car garage.
The project also includes a private wellness level with a fully-equiped gym, sauna, cold plunge and dedicated wellness spaces.
Heirloom’s penthouse launches after a year of significant Kangaroo Point apartment sales.
In February, a 763sq m whole-floor penthouse at 2 Scott Street in Walan, also designed by Bureau Proberts, sold for $14.75 million in what was the highest apartment sale recorded in Kangaroo Point at the time.
Two more apartments in Walan sold this year for an average of $7 million.
In 2024, a two-level penthouse at Sorano House at 12 Hamilton Street sold off-the-plan for $14 million. Earlier this year a 350sq m apartment at the same address achieved $8.7 million.
“The Brisbane prestige residential market continues to perform strongly, and expectations from purchasers keep rising with it,” Teague said.
“It’s remarkable that the number of Brisbane homes selling for more than $5 million has increased by 688 per cent in five years, and there have been at least 10 sales above $10 million, including all of our sales here at Heirloom.”
Whitefox national projects director Phillip Rand said scarcity was central to the current demand for prestige Brisbane apartments.
“Heirloom has just five residences and occupies a position that cannot be repeated, a genuine front seat overlooking the river and city,” Rand said.
