Developers Above Zero achieve record-breaking price at their Kew development, Rondure House

Market Insights
3 years ago
2 minutes

The off-the-plan property industry is still thriving in Melbourne, as evident through the recent success of local developers, Above Zero.

The incredible $6.5 million sale price for a whole-floor penthouse apartment in their highly sought-after Rondure House development in Studley Park, Kew, is a record price for the area – demonstrating a solid and continuing interest in the market for high quality, unique property offerings at the top-end of the market.

The penthouse exceeds 300sqm, and comprises a large terrace with swimming pool, two living zones, three bedrooms each with ensuites, a four-car garage and 20sqm private vault at ground level.

Scheduled for completion in 2021, Rondure House – a collaboration between Melbourne architecture and interior firm Cera Stribley, UK based designer Tom Dixon’s Design Research Studio and Eckersley Garden Architecture – comprises 14 luxury apartments. 

“The project is only the second of its kind in Studley Park,” explains Above Zero Director, AJ Batra. “Demand hasn’t changed in the upper-end of the market, particularly when it comes to quality and location – and this sale clearly proves that.” 

It is to the unique quality of Rondure House that Mr Batra attributes much of the success, as if buyers are not able to find a comparable property they are encouraged to secure it while they still have the chance. 

This sentiment will be useful for property and development professionals, hoping to maintain strong interest from buyers through these uncertain times. 

“The caliber and credibility of the project team, uniqueness of the project and ability to tailor the penthouse to the buyer’s specific requirements were instrumental in sealing this deal, despite the unprecedented times we find ourselves in. Like ourselves, the buyer felt confident that this was an irreplaceable opportunity to own a residence in a high-quality building like Rondure House,” Mt Batra continued.

The boutique size of Rondure House undoubtedly assisted in achieving this record price for the area, combined with the ability for the penthouse purchasers to work with the design and development team to create their ideal home.

“Since the pre-release announcement of the exclusive penthouse opportunity, we had significant interest, with the successful party acting swiftly to ensure they didn’t miss out. We are continuing to work with the remaining parties who are looking to amalgamate other apartments in the building,” Rondure House Sales Representative Hayden Namlu said.

Rondure House is set to launch soon, with private display suite appointments or virtual appointments available for pre-registered buyers. 

For more information, visit the Rondure House website