Cbus Property Launches Penthouse at $1.2bn Collins Arch

Super fund developer Cbus Property has unveiled two “world class” penthouse apartments to top its $1.2 billion Collins Street project, with price expectations north of $8.5 million apiece.

The two luxury apartments will sit atop of one of Melbourne’s largest mixed-use developments, more commonly known as Collins Arch, between levels 38 and 39.

The apartments, dubbed the Penthouse Residences, will be housed in Melbourne’s first ever sky bridge which includes a 25 metre pool and a residents-only sky garden on the 39th floor.

The first of the two apartments will offer 371sq m across two levels with its own internal lift, grand spaces and a wrap-around 113sq m terrace. The second single-level penthouse will comprise 368sq m and a 128sq m private terrace.

Both properties will showcase high-quality appointments and views of the Melbourne city skyline, Southbank precinct and Port Phillip Bay to the south.

“The Penthouse Residences at Collins Arch will provide a living experience of a truly global nature, unprecedented within the core of the city,” Colliers International director of residential Sam Nathan said.

“It is unlikely that Melbourne will again witness the delivery of a building of the architectural and locational significance of Collins Arch.

“Therein lies the opportunity for a visionary purchaser to secure a truly remarkable residence floating atop this architectural masterpiece, one that is unlikely to be fully appreciated for many years to come, well after this opportunity may have passed.”

Collins Arch’s apartments form part of a bigger push in the Victorian capital to steal Sydney’s prime residential apartment crown, along with the likes of Crown Resorts’ One Queensbridge development.

The 47-level building, which is nearing completion, will comprise 202 residential apartments, 50,000 square metres of premium office space across 24 levels, 1000 square metres of retail and a 294-room W Hotel, due to open next year.

“It’s a rare privilege to have a whole city block, but even rarer when it’s in one of the self-proclaimed premier streets of Australia,” Cbus Property chief executive Adrian Pozzo said.

“As a unique opportunity to provide premium apartments in the heart of the CBD, we always believed Collins Arch had to be an example of one of the best this city could offer – and the penthouse design reflects this.

“Woods Bagot and SHoP Architects have come up with something we believe really is world class, both from an aesthetic and functional design perspective.”

An inclusion within Collins Arch is the Market Street public park, Melbourne’s first park in 40 years. The 1,900sq m public park comprises City of Melbourne land and a portion of land contributed by Cbus and ISPT. It is scheduled for completion in 2020.

The twin-tower project is also aiming to achieve a 5.5-star NABERS energy rating for the premium-grade commercial office space; a 4.5-star NABERS energy rating for the W Hotel and a 7-star average NatHERS rating across the residential apartments.