Kervale’s ESSENCE Brighton project nabs second suburb record as demand soars
Boutique property developer Kervale is said to have broken another Brighton record after selling a second penthouse within its ESSENCE project for $5.57 million, equating to a record $24,500 per sqm rate.
The announcement comes after Kervale sold a four-bedroom penthouse off-the-plan in August for $10.2 million, taking home the title of the highest sale price ever achieved for an apartment within Brighton and now, is home to one of the highest sqm rates.
The most recent three-bedroom penthouse was sold to an overseas buyer who is looking to relocate back to Brighton, having called the sought-after suburb home previously.
To date, the value of apartments sold within ESSENCE has nearly reached $28 million within a six-month period, with two record sales under it’s belt.
Kervale Development Director, Stephen Horn said the sales were evidence the luxury apartment market is still thriving.
“The Brighton market is still thriving with buyers eager to capitalise on the limited new quality-focused stock hitting the market. Buyers have felt confident that the project will be delivered on time and as promised, as ESSENCE is already under construction and due for completion early next year,” Horn said.
“ESSENCE offers a number of unique factors and features not available in nearby developments and the boutique nature of the project is highly appealing. This has led to a varied buyer demographic, ranging from young professionals to downsizers.”
Designed by the renowned Bruce Henderson Architecture & Interiors, ESSENCE offers design and amenities that are even difficult to rival in Brighton.
Located beneath the ground floor of the complex are a secluded set of amenities, designed to replenish and recharge the senses, and to bring something extra to apartment living, with the private residents' area featuring a wine cellar, residents lounge, private dining room, kitchenette, billiards table, and a private gym and yoga studio.
Graham Morrison Managing Director and Corporate Director of Bruce Henderson Architects said the amenities on offer are reminiscent of a 6-star hotel.
“The idea behind the design was to be able to provide people with large homes to be able to downsize but still have the facilities they’re used to. In some cases they haven’t experienced this level of comfort before,” said Morrison.
In the parking area, amenities such as electric vehicle charging points, pet grooming facilities, bicycle storage, golf club lockers, and a car washing station round out the amenity offering in ESSENCE, with the EV charging stations hot on buyer’s shopping list of late.
Located on Black Street, ESSENCE comprises two buildings with just 11 residences in each, with the two buildings connected via a central courtyard. Following the amalgamation of two apartments, ESSENCE will be home to 21 upon completion.
The remaining apartments within ESSENCE are priced from $1.695 million.
Off the back of the strong buyer appetite within the Bayside suburb, Kervale is in the process of launching its third Brighton project, to be known as Mode de Vie on Montclair Avenue.