St Kilda penthouse with Luna Park views fishing for new $2.25 million owner

There's a $2.25 million St Kilda offering where the owner can watch the Luna Park smile all year round and eat downstairs at Phamish.

It's a modern two-bedroom, three-bathroom penthouse facing the iconic St Kilda landmark and the Palais. Its for sale through Josh Stirling at Hodges St Kilda.

There's a fully-integrated Smeg kitchen plus contemporary open-plan lounge/dining areas that flow out to a winter garden and adjoining balcony that takes in the sea breezes.

Its private rooftop area comes with built-in barbecue, storage and a full guest bathroom.

The St Kilda penthouse was last sold for $2.2 million in mid-2011 by the entrepreneur Danny Vorhauer who had paid $1,915,000 off the plan in 2009.

It was bought by investor Kel MacCulloch, who had purchased the adjoining apartment for $1.6 million off the plan in 2009 from the developers, George Saade's St Kilda Esplanade Investments Pty Ltd.

Kel MacCulloch, who operates IT firm O2 Networks, rented his initial apartment when he moved to Clarendon Towers at Southbank, according to 2010 newspaper reports.

It's in the SJB Architects-designed building, which when unveiled in 2008 and was dubbed the "Legs" building, given its green, fishnet-patterned glass facade.

The 12-apartment building won the 2009 South-East Design award for outstanding medium-density housing development and was entered for the Australian Institute of Architects multiple housing award for Victoria.

The design includes rectangular, terrace-style apartments and curved, irregular residences.

"We felt that the building should reflect the vibrant character of St Kilda – the interest in art and form-making," Bialek said at the time.

"The graphic (on the building) is a tongue-in-cheek recognition of the fish nets of the fishermen and of the hookers' stockings."

The apartment has also been recently available at $1,000 a week rental.

An investor paid $2.6 million last month for the premises occupied by the Phamish cafe reflecting a yield of 6.39%, according to Savills agents Nick Peden and Clinton Baxter.

It was on December 13, 1912, when Mr Moon opened his giant mouth at the fun park now owned by businessman Lindsay Fox.