Kooyongkoot records $8m penthouse sale as multi-gen leads the way

An $8 million penthouse has sold at PQD’s Kooyongkoot development in Hawthorn, marking one of the highest apartment sales ever recorded in the suburb and across the wider City of Boroondara. 

The three-bedroom penthouse, featuring two living areas, a study and expansive outdoor living across two levels, including a rooftop pool, spans 577 sqm, with nearly 300 sqm of internal living space and a further 281 sqm externally.

The penthouse was purchased by a Melbourne-based CEO, who is downsizing from a large family home nearby, and will move into the apartment with his two adult children. 

“Our family is entering a new phase, and apartment living offered an opportunity to embrace a different lifestyle while still having the space we’re used to,” the buyer said. 

“Kooyongkoot immediately gave us confidence in the developer. Every detail feels deliberate, from the overall design down to the smallest touches. The level of quality and refinement is exceptional, but what really sold it was how liveable it felt. My wife and I loved features like the dog wash, oversized storage rooms and private garages because they showed genuine thought for everyday life. It felt like a place where everything had been considered, not just a luxury building.” 

Designed by award-winning architecture studio Cera Stribley, Kooyongkoot comprises just 18 luxury residences within Hawthorn’s tightly held Scotch Hill precinct. 

The development incorporates a curated suite of lifestyle amenities, including a private wellness centre featuring infrared and traditional saunas, massage and therapy rooms, a yoga and pilates studio, a gymnasium and cold therapy shower, alongside a residents’ retreat, a golf simulator and other convenience features. 

The buyer said the penthouse’s scale and design were key factors in the decision. 

“The layout offers the same core living spaces you would expect in a large family home, which makes multi-generational living comfortable, but without the ongoing maintenance of a freestanding house.

“The wellness facilities and rooftop space were also compelling. They’re rare in a building of this size and add another dimension to the lifestyle the development offers,” he said. 

Mark Pomeroy, CEO of Pomeroy Pacific, said the purchase reflects a broader shift in Melbourne’s prestige apartment market, where downsizers are increasingly seeking larger residences that allow adult children to remain at home longer while maintaining independence. 

“We’re seeing more families choose apartment living without sacrificing space. For many downsizers, the reality is that adult children are staying at home longer, so buyers are looking for large apartments that allow everyone to live comfortably.” 

Research conducted by the University of Melbourne in 2024 found that just over half of young men (54%) and 47% of young women aged 18 to 29 years old are still living under the same roof as their parents. 

The penthouse sale places the transaction among the highest apartment sales ever recorded in the City of Boroondara, with only a handful of comparable penthouse deals including Victoria Hill in Camberwell (around $15 million) and Rondure House in Kew (around $6.5 million). 

Located on prestigious Kooyongkoot Road in Hawthorn, the development sits within walking distance of parklands, private schools, Auburn Village and Camberwell Junction, and offers direct tram access to Melbourne’s CBD. Kooyongkoot’s main building structure was completed in March 2026, with residents expected to move in from November 2026. 

A limited selection of residences remains available, offering penthouse scale living without traditional penthouse pricing. Options range from oversized two-bedroom apartments to corner three-bedroom residences with private three-car garages and generous storage. Pricing starts from $1.9m, rising to the mid-to-high $4 million range. The final penthouse is available for private viewing upon request. 

Kooyongkoot is being delivered by PQD (Pomeroy Quattro Developments), a Melbourne-based development partnership focused on creating boutique, design-led residential projects in premium locations across the city.