A Hobart investor has purchased what is believed to be Tasmania’s most expensive suburban residential property, setting a new benchmark for the state’s high-end real estate market.
Bradley Saxby, Executive Director of Saxby Capital and Acting CEO of Banjo’s Bakery, has secured the level four penthouse at the yet-to-be-built Salamanca Montpelier House development for $9,482,630.
The record-breaking purchase surpasses the previous Tasmanian residential property record of $8.533 million for “Domi Riviere”, a five-bedroom waterfront home in Howrah.
Mark Nelson from Bensons Property Group confirmed the penthouse was purchased by “a high net worth local buyer”, with the property already generating significant international interest.
“We have received an incredible amount of interest beyond our expectations,” Nelson told Pulse.
“The highly sought-after location has been the secret ingredient to the success of Montpelier House.”
Located at 1 Knopwood Street in Battery Point, the luxury development will feature 21 premium residences designed by acclaimed Fender Katsalidis Architects.
The building will offer two, three and four-bedroom apartments with high-end finishes, smart home technologies and wellness amenities including fitness facilities and spa services.
With construction set to commence in late 2025, more than half of the apartments have already been sold.
Despite the property not yet being built, Nelson says the record-breaking penthouse sale signals growing confidence in Tasmania’s luxury property market.
“Montpelier House is heralding a new era of what Hobart deserves and in the future should expect,” he said.
