Locals are agog at the news of a $27.5m penthouse sale in Cremorne Point. But agents are not surprised and say more multimillion-dollar penthouses are coming to the lower north shore and demand is sky high.

Chair of Tesla, Robyn Denholm, recently bought the whole floor of the former Ritz hotel in Milson Rd setting a new suburb record and a new record for an apartment north of the Sydney Harbour.

The $27.5m Milton Rd penthouse in Cremorne Point.

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The seven-bedroom penthouse was across two levels, had harbour views from its roof terrace plus had garaging for six cars.

But Knight Frank director Luke Hayes, who is marketing new apartments in Cremorne Pt, said he is speaking to dozens of buyers with up to $30m to spend on luxury apartments on the lower north shore.

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The penthouse in The Landmark, a luxury development in St Leonards on the lower north shore. NSW real estate.

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Silly hotel coathangers not included. Picture: The Landmark

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What Hilton?! Picture: The Landmark.

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Most are searching for units in the $7m-$15m range but if the block of four apartments I am selling were just two luxury units I could be selling them for $25m each, the buyers are there,” he said.

Hayes has been involved in marketing Crown’s One Barangaroo and advising developers on what buyers are wanting.

“What we found is that people were wanting service rather than amenity,” he said.

“They want the concierge to book the restaurant, deliver the food, organise walking the dog and they are prepared to pay for it,” he said.

Sydney’s CBD and east has had this hotel-style offering but it is new to the north shore but maybe not for long.

Buyers want amenities …

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… and convenience. Pictures: Aura

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Hotel-style living. Picture: The Aura

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The Aura development in North Sydney is promoting a world-class concierge service ‘to provide a five-star hotel experience for residents’ of the 102 units being sold off the plan in Walker St.

Amenities in that block include pool, gym, dining and entertainment areas, barbecue facilities and sun deck.

The four-bedroom penthouse has a price tag of at least $10m.

Jad Khattar, of Black Diamondz, said there are many expats and buyers used to apartment living in Hong Kong and Singapore who want low maintenance luxury and convenience. He is marketing The Landmark in St Leonards which has four penthouses for sale ranging from $10.5m to $18.5m.

Aura, a new development in North Sydney.

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It’s just as eye-catching inside.

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“We had offers for the Grand Sky penthouse at $16.5m which were rejected,” he said.

The Grand Sky penthouse consists of two levels of accommodation, 473 sqm in all and four bedrooms.

The Landmark offers a virtual golf range, cinema, and pool for residents.

“It takes time to get people used to these hotel-style apartments but a lot of developers are building them and there are more coming to the area,” he said.

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