From Perth’s western suburbs to Sydney’s sparkling harbour and the Gold Coast skyline, a new wave of trophy developments is pushing into price and scale territory rarely seen in Australia – with each tipped to set a different kind of record.
Most expensive development in WA: Ocean Grand, City Beach
In Perth, Blackburne’s Ocean Grand is poised to topple the record for Western Australia's highest-value apartment project.
In roughly a month, it has already pushed past $250 million in sales. Total sales are expected to reach in the neighbourhood of $720 million, which would make it the capital city's most expensive apartment complex by far.
Ocean Grand is expected to be WA's highest-value apartment complex once all sales are complete. Image: realestate.com.au
It's well above South Perth's $450m Civic Heart development – the next most expensive project in the state.
According to the developer, the impressive offering was made possible thanks to the location as well as a particular opening in the market.
“City Beach has always been one of Perth’s most prestigious suburbs, but the way people want to live there is changing,” developer Paul Blackburne said.
Located at 3 Kilpa Court, City Beach, Ocean Grand comprises 264 residences and buyers are mostly made up of long-term locals and coastal homeowners looking to right-size without leaving the community where they’ve raised their families.
In the earlier stages, Mr Blackburne said the speed of pre-launch sales spoke to “real depth of demand” for ultra high-end apartment living in Perth’s tightly held coastal pockets.
Targeting the $3 million to $10 million bracket, Ocean Grand’s resident-only line-up includes a resort-style pool and cabanas, alfresco dining with BBQs and a pizza oven, private dining rooms and lounges, wellness facilities, a golf simulator, and concierge.
At street level, the project includes a ground-floor retail precinct, with a boutique supermarket, restaurants, cafés and a wine bar, aimed at creating what the developer calls “a true village atmosphere”.
Tallest: One Park Lane, Southport
On the Gold Coast, One Park Lane is being billed as Australia’s tallest residential address and, at 389 metres, is also set to become the tallest tower in the Southern Hemisphere – a two-tower scheme anchored by a 101-storey residential tower and a 60-storey commercial tower, linked by a glass-enclosed skybridge on Level 22.
The residential tower will include 193 apartments – including a three-storey penthouse and two double-storey sub-penthouses – while the commercial tower will deliver 11,500 square metres of office space supported by 426 car parks.
One Park Lane is set to be the Southern Hemisphere's tallest tower. Image: One Park Lane
Developer Baracon’s development manager Brett Rogers said One Park Lane is “a transformational development for the Gold Coast,” pointing to a city shifting from lifestyle destination to “a more sophisticated urban environment that attracts institutional capital, global talent and long-term investment.”
Rising above Melbourne’s Australia 108 (316m) and the Gold Coast’s Q1 (322m), the project pairs scale with lifestyle: the Level 22 skybridge is designed to offer elevated gardens, dining areas and community spaces high above the city, with sky lounge planned on level 101, where residents will be able to view “Australia’s latest sunset”.
Mr Rogers said that as the city transforms, projects like One Park Lane are “elevating design standards, strengthening confidence in the market, and reinforcing the Gold Coast’s position as one of Australia’s most dynamic growth cities”.
Demand has been immediate, with the first 100 apartments snapped up within two weeks of release, and construction targeted for completion in 2029.
Most expensive home/penthouse: One Circular Quay, Sydney
In Sydney, the penthouse atop One Circular Quay is expected to challenge Australia’s current top-end benchmark.
The ultra-exclusive penthouse is predicted to eclipse the record for Australia’s most expensive home, which was set by One Sydney Harbour in 2025 at $141.55 million. Given that both properties are by the same developer – Lendlease – this record is one that all parties would be happy to see fall.
“We’ve spent years at the forefront of creating some of Australia’s most exceptional homes, and the One Circular Quay penthouse stands as a defining expression of that expertise, a rare blend of calibre, craftsmanship and location that makes it truly once-in-a-generation” said Daniel Baxter, executive director of development for NSW/ACT at Lendlease.
At One Circular Quay, homes boast stunning views across Sydney Harbour. Image: Lendlease
Here, positioning is everything. The three-level, five-bedroom residence is Sydney’s only penthouse set directly between the Harbour Bridge and Opera House, with a front row outlook to Circular Quay.
Crowning the 59-storey One Circular Quay tower, the home is wrapped in uninterrupted harbour views, including from a north-facing infinity-edge pool. The penthouse will also include private lift access, floor-to-ceiling windows, four private north-facing gardens, and a master suite with dual walk-in wardrobes.
The wider One Circular Quay tower is around 90 per cent sold and scheduled for completion in late 2026, with three-bedroom apartments from $12.75 million and full-floor apartments selling for upwards of $60 million, according to the project team.
The broader project has surpassed $2 billion in sales, and will sit beside Australia’s first Waldorf Astoria hotel.
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