Victoria Square Penthouse Tops Footscray Home Price Record


Move over Franco Cozzo, there’s a new big deal in Footscray.

A $2.65 million penthouse sale at the Victoria Square development has smashed the suburb’s home price record — and it won’t even be built until later this year.

It’s a more than $500,000 lift on the suburb’s previous high water mark: a six-bedroom house that sold for $2.11 million in 2015.

It comes as Knight Frank this week released a report indicating “rightsizers” — downsizers seeking house-sized luxury apartments — would be among the major real estate trends observed in the coming years.


The buyer, from Melbourne’s northern suburbs, is a businessman attached to the construction industry and asked to combine two quarter-floor apartments to create the multimillion-dollar behemoth.


He made the move well before the developer, Growland, had been planning to sell the penthouse apartments — with no details or images of the planned homes yet available.