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October 28.2025

2 Minutes Read

Double Bay Emerges as Sydney’s New Luxury Living Hub: The $60M Penthouse Opportunity

Vibrant luxury street with yellow sports car in Double Bay.

Double Bay: The New Epicenter of Luxury Living

As Sydney's Double Bay continues to evolve, it is being touted as the new "Beverly Hills" of Australia. Prominent property developer Charles Mellick describes this suburb as having entered a "dazzling new era," comparable to the glamour and vibrancy of its Los Angeles counterpart. This transformation is highlighted by an ambitious project: a new $60 million penthouse that is destined to redefine luxury living in the area.

A Record-Breaking Penthouse

The upcoming penthouse at Ruby House boasts 1,100 square meters of prime real estate, including 550 square meters of internal living space adorned with vaulted ceilings and lavish features. Amenities include a private wine cellar, wellness retreat, and expansive terraces designed for entertaining, complete with a spa and outdoor kitchen. Notably, current records for the suburb stand at $24.95 million, making this new listing a significant milestone in local real estate.

The Vision Behind the Transformation

Pallas Group, under the leadership of Mellick, has been instrumental in reshaping Double Bay into one of Australia’s most desirable luxury precincts. With new projects, including a premium co-working space and various high-end retail outlets, the suburb is establishing itself as the epicenter of Sydney's social and cultural activities.

What This Means for Buyers and Investors

The transformation of Double Bay is not just an aesthetic upgrade; it represents a vested interest in high-value assets. As real estate markets fluctuate, investing in such luxury developments can yield significant returns. For potential buyers and investors looking at commercial space, understanding this shift is crucial to making informed decisions.

Why You Should Consider Double Bay

The evolution of Double Bay into a luxury living destination signals a ripe opportunity for investors. As interest grows among affluent buyers seeking exclusive properties, it’s an ideal moment to explore commercial leasing and investment options in this vibrant suburb. With its proximity to high-end amenities and cultural hubs, Double Bay not only offers luxury but also an enhanced lifestyle.

Commercial Real Estate Investment & Development

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Double Bay Emerges as Sydney’s New Luxury Living Hub: The $60M Penthouse Opportunity

Double Bay: The New Epicenter of Luxury Living

A Record-Breaking Penthouse

The Vision Behind the Transformation

What This Means for Buyers and Investors

Why You Should Consider Double Bay

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