Spyre Group tests market record in $9 million sale of luxury New Farm residence

Market Insights
1 year ago
3 minutes

Prestige property developer, Spyre Group, has secured another market-leading result with the $9 million sale of Residence 4 in its six-dwelling Moray House development at New Farm on the Brisbane River.

The sale, which is the equivalent of $34,749 per square metre, is just below the $34,870 per square metre rate Spyre Group achieved in March with the $13.6 million sale of the penthouse of its luxury Toowong development, Arc, an off-the-plan record for Brisbane.

Moray House’s bespoke offering is exclusive to only six full-floor residences. Click here to learn more.

Spyre Group director, Andrew Malouf, said the sale was a major vote of confidence in South-East Queensland’s high-end property market and a vindication of Spyre Group’s commitment to elevating luxury living in Brisbane.

“I am delighted that Spyre Group has achieved back-to-back sales with near record-breaking square metre results across multiple projects,” Mr Malouf said. “This is an endorsement of our commitment to exquisite design and the highest quality interiors.

“We anticipate the remaining opportunities to secure one of these exceptional properties will not last long, based on the interest from buyers we are witnessing.”

The buyers, a couple from Sydney’s eastern suburbs, were immediately drawn to Moray House due to the boutique nature of the project.

Apartments with unparalleled attention to detail and quality of finish matched equally with prime positioning, access, and outlook, simply did not exist on the market. Moray House ticked all the boxes.

The homes of Moray House feature intricately crafted kitchens with high-quality appliances. Click here to learn more.

The sale through Simon Caulfield, Director of Place Kangaroo Point, follows the $15.75 million sale of Moray House’s two-level penthouse in January, which broke the record for Brisbane’s most expensive apartment sale.

“The sale of Residence 4 at $9 million, as our most attainable offering at Moray House, gives great confidence to buyer sentiment within Brisbane's prestige property market,” Mr Caulfield said.

“It solidifies that buyers of this calibre understand that properties like Moray House are irreplaceable and it's inevitable there will be less high-quality residences available in the future.

“Demand for Brisbane’s ultra-luxury market is at an all-time high where $10,000,000 is no longer the ceiling price,” Mr Caulfield said.

Residents will enjoy exceptional city and river views at Moray House. Click here to learn more.

Residence 4 features an open plan design that flows from indoors to a covered outdoor terrace with views from the Story Bridge to Brisbane’s Eagle Street financial precinct.

The design of Moray House is described as “akin to living in a tree house.” Inside, the development will include rich finishes of Chambord stone, European oak herringbone flooring, and bespoke timber joinery. Outside, full floor-length garden beds decorate the exterior.

Every touchpoint is of the highest quality and consideration, included only to elevate the lifestyle of the lucky owners, from direct access to the Brisbane Riverwalk to the chef-grade kitchens adorned with the finest WOLF appliances.

Enjoy exclusive gangway access to the New Farm riverwalk at Moray House. Click here to learn more.

Earlier this month, Spyre Group appointed Contrast Constructions to build the Moray House project.

Construction of the bespoke residence is expected to take about 18 months with demolition of the existing structures on the site already underway.

For more information or to enquire about Moray House, click here.