Luxury penthouses with a beach view

PUBLISHED : Wednesday, 12 January, 2011, 12:00am
UPDATED : Wednesday, 12 January, 2011, 12:00am

Typically, the luxury end of the market suffers in a downturn, but Savills suggests this is not the case in blue-chip Sydney.

The real estate firm cites one Eastern Suburbs mansion selling for a record A$23 million (HK$178.3 million), and continued strong demand for prestige property such as The Cove Clovelly.

Being marketed as arguably the most impressive development to grace Sydney's coastline to date, The Cove is comprised of just eight 'truly indulgent' two- and three-bedroom apartments and opulent penthouses set on a headland overlooking Clovelly Beach.

Built of concrete, zinc and stone - materials befitting their coastal environment - the homes are designed to develop a patina as they age, and blend softly into the environment. Expressions of interest may be lodged at