PB & Co achieves price per square metre sales record for luxury 3-bedroom apartment in Toorak’s millionaire’s row

15 December 2023

Melbourne-based lifestyle developer PB&Co. has achieved a new off-the-plan record for a three-bedroom apartment in Toorak for price per square metre with a recent apartment at its Clendon Residences project transacting for $31,591 per square metre.

The luxury, five-residence development in 79 Clendon Road, launched to the market earlier this year on one of the most desirable streets in Melbourne with high profile neighbours including Allen Myer, Paul Little, and David Smorgan.

The recent sale for $6.95million, to a local from Hawthorn purchasing a second home, broke the previous price per square metre record of $29,101 for a three-bedroom apartment, with the buyer keen for an opportunity to invest in a residence in a street where prime real estate almost never comes to market.

Clendon Road is renowned as one of Toorak’s top four street addresses alongside Albany Road, Irving Road and St Georges Road, where a new house price record was recently set for Melbourne by Crypto casino co-founder Ed Craven who paid $80million for a dilapidated mansion in August last year.

With architecture by renowned New York-based Gregory Tuck, Clendon Residences has been crafted to respectfully contribute to the classic Georgian architecture that is prominent throughout the Clendon Road enclave, where some of the existing homes are said to be worth up to $100m.

Each residence is a testament to opulence and refinement – from hand-selected marble stone, oak timber floors, and the state-of-the-art Gaggenau appliances to the lush Christian Jenkins-designed landscaping that envelops the development, the meticulous attention to detail at the Clendon Residences epitomises luxury living, offering a unique blend of opulence and contemporary design.

PB&Co. President, Michael Pesochinsky said the recent off-the-plan sale further solidifies Clendon Road’s status as a prime location for luxury real estate.

“Clendon Road is the pinnacle in luxury living and our development at this coveted location provides astute buyers a unique and incredibly rare opportunity to reside amongst some of Australia’s wealthiest neighbours.

“Clendon Road is lined with multi-million-dollar mansions that nearly never come to market; Clendon Residences is an incredibly rare opportunity to acquire a Clendon Road address and the only apartment offering in this prestigious street.

“Its no surprise that buyers are seeing the value in our bespoke residences concept which strives to challenge the confines of traditional real estate and open the doors to a new way of living.

“Our homes offer residents unrivalled lifestyle experiences, underpinned by timeless aesthetics and international influences to create something truly extraordinary for Melbourne’s discerning elite.

“With our highly acclaimed design partners, we have created a new benchmark for luxurious living. The Clendon Residences offer the only apartment concept of its kind at such an exclusive address and so it’s no surprise there is keen appetite for the prospect to invest in the sought-after location with the bespoke residence concept being such a unique opportunity.”

With the recent sale setting a new benchmark, the remaining residences on Clendon Road are now available on the market, offering potential buyers the opportunity to secure their place at this prestigious address.

The remaining Clendon Residences are priced from $6million and range from 215sqm – 280sqm and are set to reach completion in early 2025.