Yet-to-be-built Alexandra Park penthouse sells for almost $5m as Auckland property prices continue to stun

The interior of the yet-to-be-built Alexandra Park penthouse apartment, which has sold for $4.75 million. Photo/Supplied.

The largest penthouse in the yet-to-be completed Alexandra Park housing and retail development has sold for $4.75 million.

The super-sized sale price was confirmed this week by agent Colliers International and Alexandra Park, which is behind the 246-apartment urban village under construction next to the park's racecourse on Green Lane West.

The 489sq m freehold penthouse apartment has three bedrooms, double-glazed floor-to-ceiling glass, a gas fireplace and comes with Gaggenau kitchen appliances.

The penthouse, along with four other smaller penthouses included in the development - only one of which remains unsold, also has a private outdoor "garden room" with electronic louvre roof coverings with rain-activated sensors.

Balconies cover 140sq m and views include the central city skyline, Rangitoto and Waitemata Harbour, the Hauraki Gulf and several volcanic cones, including Mt Eden and One Tree Hill.

All apartments in the complex will be in the double grammar school zone and are expected to be completed by late next year.

Alexandra Park chief executive Dominique Dowding said the sale price was exciting because it showed a penthouse in Auckland's central suburbs could command "such a prestigious price".

The planned apartment buildings at Alexandra Park will also be part of a retail complex. Photo/Supplied.

"It completely reinforces our comprehensive quality offering and truly desirable location. What's more, this latest sale takes our total residential sales since March last year to over $260 million, a significant milestone for our development."

The previous three penthouse apartments sold for between $2.95m and $3.75m.

Colliers International residential project marketing director Jeff Davidson said the buyers did not want to be identified but said they were attracted by the size of the penthouse, its central location, views, high spec fit-out, the sense of community and proximity to family.

Alexandra Park's planned housing and retail complex is next to the park's racecourse. Photo/Supplied.