A record price for an off-the-plan Byron Bay apartment has been achieved by a Brisbane family paying just under AUD$5 million for a four-bedroom, 405sqm penthouse at the exclusive Fortyfive Lawson development in Byron Bay, Australia.
The first luxury apartment development in 30 years to be built fronting world famous main beach has now sold five of its nine apartments since being introduced to the market.
Each sale in the AUD$33 million project has set a new price benchmark for the region, with this week’s history-making purchase almost doubling Byron Bay’s previous apartment sale record of AUD$2.7 million set prior to the Global Financial Crisis.
Developer Jim Goldburg, who co-founded Flight Centre, said the penthouse was purchased by a Brisbane family who planned to reside permanently at Fortyfive Lawson, Byron Bay.
“Today, cumulative sales for Fortyfive Lawson, Byron Bay, have reached AUD$19 million with purchasers predominantly from Sydney and Brisbane.
“There continues to be strong interest in the remaining four apartments including the last available penthouse, which is listed at AUD$4.5 million.”
Marketing agent Graham Dunn of Bryon Bay Property Sales said the project was in its final stages of negotiations with two major builders. Construction was expected to commence next month and be completed before Christmas 2015.
Dunn said: “Fortyfive Lawson is one of the most exclusive new properties to come on the market in Australia and we’re not expecting the remainder of the residences to last much longer.
“With four remaining properties up for grabs there is a tremendous opportunity for buyers to secure a very special beachfront property,” he added.
Andrew Batt, International Group Editor of PropertyGuru Group wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
