Sit atop the world and save $1 mil­lion

The Advertiser - - NEWS -

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.

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