Coogee has witnessed a new real estate record with a local buyer purchasing an off-the-plan penthouse in the prestigious Ballamac development for $20 million.
With this sale, the buyer, a resident of Sydney’s Eastern Suburbs, has secured a luxurious residence and cemented Coogee’s reputation as a prime destination for ultra-luxury living.
The acquisition has set a new precedent in Coogee’s property market, surpassing the previous record of $13.1 million set in 2022. The penthouse, boasting three bedrooms and spanning 241 square meters internally, is part of Central Element’s ambitious project to transform the historic Ballamac House into a modern masterpiece.
Unrivalled Luxury and Views
Situated on Coogee’s north headland, the Ballamac development promises unparalleled views of Wedding Cake Island and the azure waters of the Pacific Ocean. The buyer, drawn to the site’s rich history and panoramic vistas, plans to make this penthouse their primary residence, further underlining the allure of Coogee’s elevated lifestyle.
Central Element’s head of sales, Cameron Porter, has noted a significant shift in the preferences of ultra-luxury buyers, with many opting for Coogee over traditional hotspots like Bondi and Bronte. This trend reflects the growing appeal of Coogee’s blend of coastal charm, historical significance, and modern amenities, making it a magnet for discerning homeowners seeking the epitome of luxury living.
Renovation and Transformation
Originally established in 1860, Ballamac House boasts a storied past, having served as a private residence, hotel, and infirmary over the years.
Central Element’s meticulous Ballamac development aims to restore the property to its former glory while infusing it with contemporary design elements. The result will be a harmonious blend of heritage charm and modern sophistication, offering residents an unparalleled living experience.
With the penthouse sale setting a new benchmark, anticipation is mounting for the official launch of Ballamac House later this year.
Published 2-May-2024
