Eureka Tower apartment on sale

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  • 24 July 2014
    Eureka Tower apartment on sale
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  • 04 July 2014
    For Sale: The Most Expensive Apartment in Melbourne
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24 July 2014

Eureka Tower apartment on sale

By Emily Power (The Age Domain Section)

In the stratosphere of prestige real estate, there is luxury and opulence – and then there is epic.

The 82nd floor of the Eureka Tower, with dazzling 360 degree vistas, is being touted as Melbourne’s most expensive apartment.

If a million-dollar view is what you are after, this apartment in the clouds has it, but it comes at a cost. Industry speculation is that the deluxe five bedroom and eight bathroom property, which has never been lived in, could fetch up to $22 million in a private sale.

Great view: the Eureka Tower apartment

Domain Group economist Dr Andrew Wilson said Melbourne’s prestige penthouse market is the “last cab off the rank in market recovery” since the global financial crisis.

“There is no doubt we had a strong market for luxury penthouses through in to the GFC and that market has been pretty flat since then, but that is fairly typical of the high-end discretional purchases,” he said.

“The market is coming to life as most other housing markets have come to life, but I am not sure we have the real solid driver of the ultra-prestige market at the moment, certainly not of the same vibe we had in 2007.”

Clear views: windows are cleaned four times a year.

Dr Wilson said the apartment block boom means there is more supply of penthouses and more competition.

“Even though the market has improved it is not back the number of buyers we had pre-GFC, five years ago. The penthouse market pre-GFC started along St Kilda Road, that was the epicentre of that particular market and buyers were queuing up.”

The apartment has floor to ceiling windows to exploit its heart-stopping height, which is nudging 290m above Southbank by the Yarra River.

At home: web entrepreneur Mathew Care poses for a photo in his Eureka Tower apartment.

With its bespoke touches, from supple New Zealand wool carpet in a specially commissioned shade of marigold to the linen made to match the bedrooms’ monochrome palette and the luscious leather-lined walls, there is no better place from which to look down on the world’s most liveable city.

“This is the most opulent and best apartment to ever come on the Melbourne market,” said agent Gerald Betts of RT Edgar.

And if you think no apartment could possibly be worth that much money, then you haven’t taken the high-speed elevator to the palatial pad, dubbed E82, which occupies a full floor of Melbourne’s tallest building.

Level 82 Eureka Tower, Southbank
The 82nd floor of the Eureka Tower, with dazzling 360 degree vistas, is being touted as Melbourne’s most expensive apartment.

The windows on the top 11 floors of the 92-floor skyscraper, including those of the apartment, are coated in 24 carat gold.

To ensure the vistas are not spoilt by smudges and dust, window washers with daredevil gall scale the building four times a year in a high-tech two-man cleaning platform to give the panes a thorough wipe.
The platform is custom-made to fit the unique diamond configuration of Eureka.

No expense spared: the original fitout took two and a half years.

RT Edgar, who is orchestrating the campaign, is preparing to approach  wealthy individuals throughout Australia quietly and personally to gauge their interest.

The apartment is also being internationally promoted, especially through China.

“This is unlikely to be a primary residence and is more likely to be owned by someone who has many properties around the world,” said Mr Betts.

But with ample space and built-in desks in the bedrooms, there is no doubt this palace would also fulfil a function as a family home.
E82’s Australian owner, Elias Jreissati, is a property mogul and art philanthropist who has never forgotten his humble beginnings.

After immigrating to Australia from Lebanon as a teenager and unable to speak English, he bought a little cafe in one the laneways that cut through the CBD and made toasted sandwiches for a crust. It was the genesis of his business empire.

Mr Jreissati bought the apartment as a sprawling shell from the tower’s revered architect Nonda Katsalidis about four years ago.

He spared no expense on the fitout, which took two and a half years due to the level and scale of meticulous detail.

The architecture and interiors of the apartment were  designed by Fitt De Felice who worked on the project from inception to completion of construction.

The furniture selection and art direction of the Jreissati art collection was handled by Molecule Studio who specialise in décor and art direction.


- Eager to get home after a long day at work? The Eureka Tower lifts travel at 9m per second, which makes them the fastest lifts in the southern hemisphere.
- Eureka has 3,680 stairs – not that you’d be bothered with those if you lived in the penthouse.
- For those who do not suffer from vertigo, it has the world’s highest viewing tower on the 88th floor.
- “Did the earth move for you too, dear?” The top portion of the tower can flex 600mm in high winds.


- Privacy can be a problem in apartments and unless windows are tinted, you may need to keep the blinds closed more often than not.
- Windows of high-rise apartments are cleaned periodically - about four times a year - so if you can't stand looking at a speck of dirt, apartment living might not be for you.|
- Lack of storage in apartment dwelling, especially for downsizers, can be a major sticking point.
- Customisation of apartments isn't always possible. Depending on the position of the service pipes and vents, you may not have the flexibility to put your own stamp on your living space.

Melbourne entrepreneur Mathew Care was lured from the suburbs by the city lights.

The 35 year-old was one of the first to buy an off the plan apartment in Eureka Tower. His apartment on the 48th floor takes in metropolis views that allow him to enjoy the twinkling CBD spectacle after work.

Mr Care, 35, the co-founder of Papua New Guinea-based property listing site Hausples , has called Melbourne’s highest residential building home since 2008.

It was convenience that compelled him to move to a city pad from Ivanhoe. “I bought if off the plan and I was working at a law firm in the city, as a solicitor, and thought if I work in the city, I might as well live in the city too,” he said.

“The views and the height appealed, because at the time there were no other high-rise buildings like it, and I wanted the amenities and the proximity to work” he added.

“I bought on the 48th floor which is halfway up Eureka, but for most buildings that would be a penthouse. I look towards the city and it might sound pedestrian but it’s truly specular. During the day if you have a bay view it is lovely but at night the city is sensational. The apartment I have is configured like a triangle and one whole side is glass.”

The 24 hour-concierge, gym and cinema, which residents can book out for movies or sports matches, are added lifestyle perks.

“Having your newspaper at your front door like living in a hotel,” he said.

“And you can walk out the door and leave your keys with concierge.”