Mega Coast sale

The multimillion-dollar figure splashed on a Southport penthouse has been revealed

THE multimillion-dollar sale price of a luxury penthouse topping Southport’s Rivage Royale tower has been revealed weeks after it sold.

Realestate.com.au now shows the tri-level skyhome, known as the northern penthouse, changed hands for $4.45 million.

The Bulletin reported the sale earlier this month but marketing agent Duncan Longmore, of Kollosche Broadbeach, would only say it sold for less than its asking price of $5.25 million.

Despite selling for almost $1 million less than its asking price, the sale eclipses the figure its neighbour fetched almost two years ago.

The southern penthouse, which was once owned by former fugitive businessman Lux Daswani, changed hands for $3.795 million almost two years ago.

A local buyer bought that residence, which hit the market in November 2015, from brother and sister Peter Kyriakou and Athena Jordan.

The siblings inherited the property from their father Paul Kyriakou, who bought the tri-level Rivage Royale home from receivers in 2001 for $1.42 million.

Receivers and mortgagees moved in on Mr Daswani’s assets after he fled Australia in 2000.

Mr Longmore told the Bulletin earlier this month the penthouses’ floorplans were mirror images but their styles were completely different.

“(They are) the same size — about 850sq m with their own pools,” he said.

“The (southern) one needed a renovation whereas this one had had a beautiful renovation 10 years ago.”

A local buyer also bought the northern penthouse, which had been on the market about a year before it was snapped up.