Christchurch's priciest apartment yet will have travertine floors, nearly 700 square metres of space, a giant roof terrace, and a $5.7 million pricetag.
The plush two-level penthouse apartment will be on top of a $22m luxury development planned for Park Tce overlooking Hagley Park.
If sold, the home will be the dearest yet in Christchurch.
Last year, a five-bedroom house in Glandovey Rd, Fendalton, fetched the city's highest known price of $5.56m. A large house on two-thirds of a hectare at Clearwater golf resort has been advertised since July at $5.9m.
To be called Upper House, the Park Tce complex will have five $3m-plus apartments including the penthouse. Its marketing agent, Grant Chappell of Harcourts, described the project as a major sign of confidence in Christchurch.
He described likely buyers as "people with a high net-worth, probably approaching retirement age, who travel a lot and want something to lock up and leave".
"We've got a bit of a hit-list. There are people in the suburbs who had apartments in town [before the earthquakes[ and want to come back."
Local developers Chris and Jenny Stokes bought the Park Tce site, complete with a damaged four-level apartment building in as-is condition, for $1.7m in September.
They have cleared the land to build Upper House with four 430sqm apartments priced from $3.25m to $4.05m, plus the 680sqm two-story penthouse. Their first resource consent application is with the Christchurch City Council, and they hope to start construction this September and finish in March 2019.
Luxury apartment projects have struggled to get off the ground in Christchurch since the earthquakes.
The Miro luxury residences were redesigned as the 818 Colombo hotel with $1m-plus apartments on top, and developers Countrywide Property abandoned plans for a $75m complex opposite Cranmer Sq.
REV Developments is pushing ahead with the Cathedral Towers apartments in Cathedral Square with prices up to $4m, while the eight-storey Verve building on the Victoria-Salisbury streets corner will mostly have homes under $1m.
Before the earthquakes, apartment buildings including Victoria Apartments, Parkbridge and the Est@blishment all had apartments over $2m.
Chris Stokes said they chose to build Upper House with large, luxury apartments because they saw a gap in the market.
"There's nothing like this in the market in Christchurch. There's nothing of this kind of luxury and scale.
"I didn't want to do just another typical apartment development. The location deserves something better."
Each apartment will have three bedrooms, a media room, library and office, and 2.7m high ceilings. Kitchens will be built in oak and arabascato marble, Italian travertine stone will be used for the floors, the exterior will be black zinc and embossed concrete panels, and parking will be underground.
The penthouse will have a 50sqm terrace with outdoor kitchen, fireplace, and living and dining spaces. It will be more than three times the size of the average new house.
Adjectives describing the development in marketing material include opulent, exclusive and stylish.
The Stokes' previous developments have included residential and retirement complexes in Christchurch and Auckland.