Penthouse sells for $7.5M in Ozone Residences in Cronulla

A new apartment record for Cronulla has been set with the sale of a penthouse in the Ozone development in Ozone Street.

The penthouse was purchased off the plan last week for a record $7.5 million by a Sutherland Shire resident looking to downsize.

The previous off the plan record price for Cronulla was in the Wavelength development for $6.3 million.

The delighted buyer said many variables had aligned to make the sale happen, in particular ‘‘the calibre of the finishes throughout the apartment’’ and the developer’s ability to deliver a ‘‘high-quality product’’. 

‘‘We undertook extensive research to find our new home in Cronulla and it became evident that Ozone Residences is a superior development,’’ the local purchaser said.

‘‘The boutique development is in an intimate street setting with tremendous views of the Pacific Ocean.’’

Greg Gilbert from sales firm Greg Gilbert Projects said the Cronulla market was still very strong with substantial off-market transactions occurring in July and August.

‘‘This record sale shows there is continuing strength at the upper end of the market, particularly with local downsizers who are looking to move closer to amenities and with the convenience of a low maintenance apartment building,’’ Mr Gilbert said.

‘‘We’re seeing more shire residents wanting to move to the Cronulla city centre and it’s great to see developers delivering such exceptional high-end products to meet this demand.’’ 

Ozone Residences, a project by LEDA Holdings, Rebel Property Group and Vic Lake Architects,  contains 30 apartments over eight levels.