Newcastle penthouse with a $10 million price hope could topple the apartment record

A luxury penthouse with panoramic ocean views is in line to become Newcastle's most expensive apartment.

Robinson Property's Ben Robinson is marketing the sale of the three-bedroom, four-bathroom penthouse at 30/1 King Street in Newcastle.

The top-floor apartment in the Nickson wing in The Royal building is listed with a guide of $9.5 million to $10 million.

Mr Robinson said the property had undergone a full renovation costing more than $1 million.

"It is very, very tightly held in that building and this is the first time it has come up," Ben said.

"The owners have spent well over $1 million on the renovation, and the only original parts would be the doors and the windows.

"The features are endless and it is absolute luxury."

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

Set across 320 square metres of internal living area and 60 square metes of outdoor terraces, it is the second penthouse in The Royal to hit the market in the past year.

In November, Hope Estate owner Michael Hope paid $8.5 million to secure a three-bedroom, three-bathroom penthouse in McCaffrey wing of The Royal listed with Anthony Merlo at Colliers Residential Newcastle.

The sale set the record as the most expensive apartment in the Newcastle region.

It topped Movable agent Jason Maxwell's previous record $8.3 million sale of 801/1 Scott Street in Newcastle East in September 2022.

"The big difference with those two is this one is beachfront and what else sets it apart is it has been completely re-modelled," Ben Robinson said.

"It is quite spectacular."

The renovation includes a luxury Nadin West kitchen with titanium gold granite, an island bench, zip tap and a Miele warming drawer.

The kitchen has state-of-the-art appliances including a Wolf convection oven and cooktop, a Miele steam oven and a Liebherr double-door fridge and freezer.

There is also a walk-in pantry and wine storage for 120 bottles.

Other features include designer Ralph Lauren light pendants, Sonos ceiling speakers and a fireplace in the living room.

All bedrooms have ensuites, including the master suite with a bathtub and marble finishes.

The expansive open-plan area includes a living and dining space.

There is also a media room currently used as a home office.

A large outdoor entertaining area has a Mediterranean-inspired garden with olive trees, and a Vintec wine fridge and two Leibherr integrated freezers.

The property includes a triple garage with an EV charger and a storage cage.

Inspection is by private appointment.

"We have had a couple of buyers through the property and realistically, it could be a good opportunity for somebody from out of town," he said.

"It will be interesting to see how it goes with the local market because a lot of people are moving from houses and into apartments seeking that security and low-maintenance living."