Empty nesters have paid $3.617 million to combine four two-bedroom apartments into one sprawling pad in the luxury Oakdon development.
The apartment will sprawl across 332sq m on the ground floor of Oakdon in Glen Iris.
Marshall White Projects director Leonard Teplin said the off-the-plan sale had set a new apartment price record for the leafy southeastern suburb, beating the previous benchmark of $2.78 million, set by a dwelling in a Burke Rd development.
By comparison, Glen Iris has a median unit price of $540,000 and three-bedroom apartments in the suburb are fetching $1.303 million on average, according to CoreLogic.
The record-breaking apartment will be flanked by landscaped gardens.
Mr Teplin said the final design for the record-breaking ground-floor abode was still being finalised, but it would spread over 332sq m and feature a further 235sq m of gardens when it was built.
It’s expected to be one of 25 apartments in Oakdon at 2A Scott Grove, which is being developed by Bonyan and designed by Conrad Architects.
The development will feature chef-sized kitchens.
Mr Teplin said the boutique development’s high-end offerings — including the mega-apartment — would feature fireplaces, chef-sized kitchens, and his and hers walk-in robes and bathrooms.
The buyers were happy to splash some serious cash to stay near loved ones, and “work with a well-known architect and developer to customise their space”, he said: “Price is of no object for people wanting to live close to family and friends, in areas they like.”
Downsizers have been the most prominent buyers in Oakdon.
Mr Teplin said it had become common for cashed-up buyers to combine off-the-plan apartments in Melbourne developments to create larger, custom homes.
“We’ve had a buyer take eight in Camberwell Junction, others have combined three, four and five,” he said.
The floorplan for $3.617 million record-breaking apartment.
There are still 12 two-, three- and four-bedroom apartments up for grabs in Oakdon, ranging in price from $750,000 through to $1.3 million.
Construction is due to begin on the project at the start of next year, and residents to begin moving in by Christmas next year.