Sit atop the world and save $1 million
IT might just be the real estate bargain of the year.
Rowlands Apartments developer David Lee has drastically dropped the asking price of his luxury 624 sq m 18th-floor penthouse level at 18 Rowlands Place by almost $1 million.
The property is going to auction with a price guide of $2.995 million, making the reserve $3.2945 million – less than the property’s build price and a far cry from the $4.2 million that it was originally chasing.
Set up as two penthouses, the property offers, in total, five bedrooms, four bathrooms, six toilets, two kitchens and four lounges.
Mr Lee is selling to move to Sydney, though his company, The Mandala Property Group, remains based in Adelaide and still has projects in the pipeline here.
“Somebody’s misfortune of moving is another’s opportunity,” Mr Lee says.
“The purpose is to give people the opportunity to take advantage of this lifestyle. It’s the best apartment in Adelaide – I spent a lot of time and money designing it and I put the best of everything into it.”
The property is being sold through both Refined Real Estate and Sotheby’s South Australia.