Sydney's red hot property market could reach new heights with talk that a buyer from the UK is interested in buying what would be Australia's first $100 million penthouse at Sydney's Circular Quay.
While plans for the penthouse at Chinese mega developer Dalian Wanda's Goldfields House project have not been finalised, wealthy buyers have caught wind of the $100 million offer for a 1200sq m penthouse with panoramic views across Sydney Harbour.
The vast, two-level apartment is set to be built atop the 57-storey, 184-apartment residential tower that Wanda has approval for, at the apex of Sydney's gateway, flanked by the Opera House and the Harbour Bridge.
In April, the company also applied to the City of Sydney council for two additional floors.
The potential buyer is said to have preferred the Circular Quay penthouse after considering potential 2000sq m "Sky Villa' being proposed by James Packer at his Crown Sydney Hotel Resort at Barangaroo. That penthouse is also said to be priced at $100 million.
A Crown spokesperson said they were unable comment further.
If a sale of the Wanda penthouse eventuates, Sydney could join the ranks of the most elite real estate cities of the world - Monaco, New York, London, Hong Kong and Singapore.
Monaco currently tops the list with a 2700sq m, $US400 million sky penthouse in the Odeon Tower , followed by a 1580sq m $US237 million Hyde Park penthouse in London, according to a compilation by US real estate agent Lincoln Property Company.
New York's Pierre Hotel penthouse is $US125 million while New York's One57 winter garden penthouse fetched $US115 million.
Luxury agent Sotheby's International's Michael Pallier believes the property is worth the price due to its unbeatable location.
"It will be the Usain Bolt achievement in real estate and can be achieved. That location is arguably the best in Sydney for a penthouse, there will be interest for sure...especially if the size [of the apartment] is right with the right amenities," he said.
It is the kind of trophy asset that could be used to entertain those in high end social circles, including royalty, Mr Pallier added.
At about $80,000 a square metre, the penthouse would break the Sydney property price record.
While the highest known per square metre rate for units in Sydney is about $55,000 a square metre in Darling Point and Point Piper in Sydney's eastern suburbs, $80,000 a square metre will not not faze rich Sydneysiders, Mr Pallier said.
"It's still cheaper than a number of super yachts that some Australians own."
By comparison, 1200sq m is about the size of an Olympic swimming pool and a standard one bedroom apartment in Sydney is about 50sq m.
Chinese developer Greenland's 329sq m penthouse at Greenland Centre in the CBD sold for $10.3 million and another Chinese developer New Hope recently sold a 330sq m penthouse at its St Leonards project The Landmark for $10.9 million .
But none of these have the views that Goldfields House has, something that is "truly special" according to Mr Pallier, and well within the reach of Wanda's chairman and China's richest man Wang Jianlin's connections.
Not only is Mr Wang, 61, worth $35 billion, he rubs shoulders with movie stars and producers and sport legends.
Wanda owns one of the biggest cinema chains in the US, AMC Entertainment which it bought for $US2.6 billion and Legendary Entertainment, behind hits such as "Jurassic World" which it paid $3.5 billion for and also has stakes in Spanish club Atletico Madrid and Swiss sports marketing firm Infront Sports & Media AG.
Wanda's Goldfields House's project team declined to comment.
