Manly Apartment Sets Record

A new apartment development has set a record for the highest price paid per square metre in the Sydney beachside suburb of Manly.

The buyer secured the three-bedroom apartment for $9.5 million, which equates to $33,807 a square metre.

The purchase by a local buyer also set a record for the highest price paid for a unit in the prestigious Bower Street, where construction is about to commence on a spectacular $43 million residential complex.

The site at 102 Bower Street and 12-13 Marine Parade will consist of six two and three bedroom apartments spanning four levels.

It’s the first development for Michael Fox at the helm of his new business, CostaFox.

“We were completely captivated by this site when we saw the location and knew that our combined 30 years property industry experience meant we were the right team to deliver the project,” explains Mr Fox.

“It’s incredibly rare to find a 300 square metre apartment in this kind of location and the record pricing and early interest are testament that there is continued demand for this type of luxury product.” 

CostaFox has secured $27 million in sales already, selling four of the six residences at the pre-launch event last week.

Loaded on Manly’s Fairy Bower, the site looks out over the South Pacific and comes complete with waterfront access to Manly and Shelly Beach.

Koichi Takada Architects, the team behind Sydney’s East Village by Crown Group, has been commissioned for the exteriors, while Mim Design is in charge of the interiors.

“The Bower Street site is a magical place, so much so that it was our intent to let the architecture somewhat disappear, allowing the view and connection to the water to be the defining feature,” explains Koichi Takada, founder and director of Koichi Takada Architects.

“The nautical design becomes one with the location so that you can fully appreciate the view and make the most of a lifestyle living on the water.”

“We see each apartment as a penthouse. They’re quite expansive and each one has outstanding views,” Miriam Fanning, founding director of Mim Design adds. 

“We’ve given much consideration to each room – they are very well detailed and specifically designed for the luxury market.” 

Construction is slated to commence in August, with completion expected in early 2018.

More information can be found at Bower Manly.