Locals have paid $9.5 million for an off-the-plan Manly apartment — a record for Bower St and the highest price per sq m for a unit in the suburb.
The Bower, on the oceanfront, is a luxury six-apartment development launching today. Four of the units have sold already and the $9.5 million sale represents $33,807 per sq m which is a record for Manly.
Developer Michael Fox of CostaFox in Melbourne has built 2000 units in Melbourne. This is the first development where he has included so many high-end extras such as NASA-designed subzero fridges and freezers plus top-of-the-range kitchen appliances.
“I probably didn’t appreciate what a special spot Bower St was,” he said. “We have nothing like it in Melbourne but talking to locals they described it as Fifth Ave.”
Jennifer Hawkins’ favourite architect, Koichi Takada, designed The Bower, at 102 Bower St, and created six penthouses rather than a block of six units.
The $9.5 million apartment has sold for more than $33,000 per square metre, a new benchmark for Manly.
Steve Thomas, of Belle Property Manly, which is selling the two and three-bedroom apartments, said the inclusions and the finishes represent a new benchmark for Manly. Full home automation of lights, blinds and airconditioning is included as well as built-in appliances, underfloor heating and a communal kayak storage room.
Sophisticated fridge, freezer and wine fridge plus top of the ranges appliances are included in the sale of each apartment.
“There is an appetite for this kind of property, all have sold to locals who know the area,” he said.
There are two apartments left in the four-level building.