Luxury penthouse overlooking Newcastle Beach hits the market for $8.9 million

A luxury penthouse with panoramic views overlooking Newcastle Beach is on the market with a record-breaking asking price.

The three-bedroom, four-bathroom apartment at 30/1 King Street in Newcastle is listed with Lindy Harris at OneAgency for $8.9 million.

It could potentially deliver the city's top sale for an existing apartment.

Lindy described the penthouse as a rare offering in The Royal complex, which was built by developer Mirvac in 2010.

"You can't get any more eastern than 1 King Street, so that is a rarity in itself," she said.

"The Royal is known to be the most well-built unit blocks on the beach, and these apartments rarely come up for sale."

Cotality records show the property was purchased off the plan in 2010 for $3.1 million.

The owners completed a high-end renovation of the apartment, including a luxurious Nadin West kitchen with an island bench and a walk-in pantry.

The kitchen has top-of-the-line Wolf, Miele, and Liebherr appliances, including a convection oven and cooktop, steam oven, warming drawer, and double-door fridge and freezer.

"It is the quality of finish the owner has put together that I feel is its strength," she said.

"The way it is fitted out is phenomenal."

High-end details include Ralph Lauren pendant lights worth $15,000 each and titanium gold granite benchtops in the kitchen.

All three bedrooms have en-suites, including the main with a bathtub and elegant Calacatta marble finishes.

Other features include a media room, engineered oak flooring, ducted air conditioning, a fireplace in the living room, and lift access.

The top floor corner position of the penthouse boasts north, east, and west exposure.

Glass walls spanning 4.5 metres in the open-plan living, dining, and kitchen area fill the apartment with natural light and take in the ocean view.

The floor plan spans 320 square metres internally and a 44-square-metre outdoor entertaining area with a Vintec wine fridge and two Leibherr integrated freezers.

"It's the size of a house in terms of the square metres, so it doesn't feel like an apartment, it feels like a house," she said.

"The outdoor area, which they call the winter garden, is also expansive, and you don't get that anywhere else.

"Until you are inside, you don't realise how big it is; the height of the ceilings, all that use of glass, it is impressive."

Lindy said the penthouse has attracted mostly local buyer interest since she brought it to market.

"There has been a lot of local interest," she said.

"I've had enquiries from Sydney and Port Stephens, but overall, the majority have been local buyers with ideas of transitioning from homes to apartment living.

"They are thinking of downsizing into it, and buying it, holding it, and leasing it out until they are ready to move because they know of that rarity and the fact that these never come up for sale."

The property includes a triple garage and a storage cage.

Newcastle's top apartment sales

In May, a whole-floor apartment with harbour, ocean, and city views at 508/37 Shortland Esplanade in Newcastle East fetched $6.4 million after 30 days on market with Ray White's Barry Price and Darren Penn.

The result is the third-highest price for an existing apartment in Newcastle.

Colliers Residential Newcastle listing agent Anthony Merlo set the record in November 2023 with the $8.5 million transaction of a three-bedroom, three-bathroom penthouse on the 16th floor of the McCaffrey wing of The Royal complex.

It topped the previous record from September 2022 when Movable's Jason Maxwell sold a penthouse at 801/1 Scott Street in Newcastle East for $8.3 million in an off-market deal.

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