Penthouses a new high for Parramatta

DEVELOPER Meriton is adding a crowning glory to its Altitude towers at Parramatta – two exclusive sky penthouses.

They will occupy the top floor of the Altitude residential tower – Parramatta’s tallest building soaring to 54 levels.

The move will place the owners of the luxurious and expansive penthouses more than 170 metres above the ground in the cultural heart of Parramatta, a city within a city.

They will enjoy unobstructed views that take in the Parramatta River, the Sydney CBD and beyond.

James Sialepis, Meriton’s director of sales, yesterday said that the chance to capitalise on the panoramic outlook was too good to pass up.

“We have been influenced by the huge demand from buyers wanting to capitalise on a unique prospect – to acquire an apartment with house like proportions virtually sitting in the sky.

“Of course, with the penthouses each covering half a floor, the range of views will be greatly enhanced — it will expand to 270 degrees.

“It’s not every day that an opportunity is offered to the market where purchasers will be able to enjoy not only great views, but also a superb location in the heart of Global Sydney’s designated dual CBD.”

Mr Sialepis said Meriton was embellishing the four-bedroom penthouses with superior fixtures and finishes, including designer kitchens, full height internal doors, limestone floor tiles in living and dining areas, and a bathroom with a free-standing bathtub and heated floor.

The larger of the penthouses, with 147sqm of living space, will look north-east and also have a 21sqm landscaped balcony.

The second penthouse will span 132sqm and look south-east.

Meriton has set the prices at $2.350 million and $2.050 million.

Altitude is on a former David Jones site in Church Street, bought for $36.5 million in 2010.

The project consists of a 377-apartment residential tower and a 36-floor Meriton Serviced Apartments hotel with 254 suites and which opened this month.

A riverfront dining precinct is at Altitude’s base and numerous other restaurants and cafes line the riverbank.

The five-star guest and resident facilities include a heated indoor pool, spa, sauna, outdoor resort-style pool overlooking the river, gymnasium, childcare centre, and landscaped gardens.

Eighty per cent of the apartments have sold well ahead of completion of the 54-floor residential tower later next year.

Mr Sialepis said there was enormous buyer confidence in Parramatta, where growth in values and rents was strong.

The median sale price of apartments had risen by 52 per cent in five years, with rents up 22 per cent in the same period.

The progress being experienced in Parramatta is in for another boost, with a start nearing on Parramatta Square which, like Altitude, is in Church Street.

The $2 billion mixed-use urban renewal project, being led by the Parramatta council and involving private developers, will cover three hectares in the CBD.