A  Melbourne apartment soon to be constructed on the waterfront has smashed a suburb record, fetching $10 million.
 

The sale of the off-the-plan penthouse in Port Melbourne has set a new benchmark in the bayside postcode, crowning a luxe new complex which will grace premium space opposite Station Pier.

It is the most expensive off-the-plan apartment ever sold in Port Melbourne, listing agency Marshall White said.

The off-the-plan apartment record in Victoria is $38 million paid in February 2023 for a sub-penthouse in developer Beulah's $2.7 billion twin tower project in Southbank, in the CBD.
 

A 103 Beach Street, the deluxe pad will be across the road from the wharf, where major cruiseliners dock on their around-the-world voyages. It is also the ocean gateway from Victoria to Tasmania, where the Spirit of Tasmania ferry departs, and is an icon of Melbourne.

The stretch of sand and water, edged by a palm-tree lined esplanade, is moments away.

The 103 Beach Street penthouse buyers are a local family, according to a statement from Marshall White.