Perth property: Luxury Cottesloe penthouse expected to smash WA price record with $16 million sale

Yet another property price record is about to be smashed in Perth with a penthouse in Cottesloe expected to sell for nearly $16 million. The newly revealed $15.97m price tag is on par with last year’s $15.6m sale price for the historic, six-bedroom Le Fanu residence on a 1492sqm block on neighbouring Salvado Street. Barry Baltinas, the developer of the Meridian complex, said several interested buyers had inquired about the penthouse, with half of the complex’s other 10 apartments already sold. In a final sign, the Keep Cott Low campaign has failed in its long-running campaign to stop multistorey development on the beach, construction on the seven-floor development has commenced and is due for completion in late 2025. So what does $16 million buy on the Cottesloe beachfront these days? The four-bedroom penthouse has floor-to-ceiling windows with views over the pine trees and the white sands of one of Perth’s best beaches. It has 250sqm of internal space and a 125sqm landscaped deck with its own above-ground plunge pool. “Each space within Meridian’s penthouse is filled with natural light and seamlessly integrates with the 270-degree ocean views from its wrap-around deck,” said Mr Baltinas. “Feature timber-clad vaulted ceilings punctuated by circular skylights create a luxurious sense of airiness, as does the floor-to-ceiling glass.” One of the apartment’s best features is a hand-finished deep soak tub with views to the South West of the stunning coastline. It also boasts viewing cabinets for watches and jewellery, custom-controlled wine storage, in-floor heating, smart home technology, biometric technology-controlled security, a secure mail delivery room for online shopping delivery, as well as parking for four cars, including a charging station for electric vehicles. Mr Baltinas said the structure, designed with Cameron Chisholm Nichol architecture, was inspired by Cottesloe’s shoreline as well as some of the cornerstone art deco buildings in the area. The complex’s street-level bar and restaurant will not appeal to every prospective buyer, but will likely be a selling point for those seeking an extra sense of vibrancy. The penthouse at the neighbouring development at 122 Marine Parade, will feature a two-level unit with three bedrooms, three bathrooms and a study. A price has not yet been set for this neighbouring property. If the Meridian complex achieves the penthouse’s asking price, the apartment will cost about three times the previous Cottesloe record for a settled apartment, with one on Broome Street selling for $6m in 2020. But it will not be a record for apartments in Greater Perth. RP Data records confirm a buyer in the OneSubiaco apartment complex paid $17.5m for a penthouse. It is understood the same buyer bought an apartment on the floor below for about $5m and had a staircase fitted to link the lower level apartment to the main penthouse, taking the total cost for this apartment to $22.5m. The developer behind OneSubiaco, Paul Blackburne, said the penthouse at his upcoming Grove Residences complex in Claremont had sold for a price between $16m and $20m, but it had not yet settled.