Real Estate

Adelaide penthouse poised to become state’s most expensive apartment sale

Written by The ReReport
As seen in the Source link, written by on 2019-05-24 14:24:36

An iconic city penthouse has hit the market which is anticipated to set a new record for Adelaide apartment living.

The penthouse of The Wave complex – 1001/19 Gilles St, Adelaide – is just one of four residences in the 12-floor development and is expected to surpass the $5.2 million sale price achieved by the Realm Apartments penthouse in June last year.


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According to planning, transport and infrastructure department records, the penthouse, which offers some 549sqm of living space over its two levels, is owned by Adabco Pty Ltd.

The vendor and former resident, who wished to remain anonymous but was happy to be identified as the owner of Adelaide’s Mayfair Hotel, designed and built the complex in 2009, and said she was incredibly proud of the development she described as a unique offering.

“I was looking to create a piece of artwork or art form like no other, that isn’t like a box but an architectural treasure with amazing curvature and design elements combined with the highest level of quality throughout,” she said.

“Without a doubt this is a statement architectural masterpiece for South Australia, designed at great expense with the material used to achieve the curvature of the bespoke design, with architecture and interior design by JPE, and built by Hansen Yunken.”

The apartment features up to four bedrooms – two with both dressing rooms and ensuites, and one with an ensuite – a chef’s kitchen with stone benchtops and Miele appliances, an entertainment terrace, a five-car garage and access to an exclusive rooftop swimming pool, entertainment deck and sauna.

It also has a home theatre and a wine storage area.

The vendor currently lives in one of the building’s other three apartments and has been recently renting the penthouse to the chief executive officer of the Mayfair Hotel. She said the lifestyle and views it offered were unparalleled.

“You will never tire of these incredible views,” she said.

“The outlook over the sparkling CBD lights, the eastern foothills and Mt Lofty Ranges is serene and mesmerising. We have hosted gatherings with Mayfair guests on the entertainer’s terrace, with cocktails and canapes, and it works so well.”

“I absolutely love the lifestyle in this CBD precinct – you can walk to Veale Gardens, Adelaide Himeji Japanese gardens, the parklands, Halifax St restaurants, Hutt St and Adelaide Central Market – it reminds me of living in Taipei, Taiwan.”

Selling agent Stephanie Williams said the home was a special offering and she expected it to eclipse Adelaide’s $5.2 million record.

“I’ve not seen anything like this in Adelaide, because the architectural integrity and the design is really quite special and exciting,” she said.

“It certainly will attract the interest of the international buyer and someone who lives that jetsetting lifestyle and is attracted to that exclusive, secure, lock-up-and-leave way of living.

“With its proximity to the airport and city, it’s ideally located and, with only four homes in the building, you get an enormous sense of privacy.”

Mrs Williams expects to see strong growth in the Adelaide prestige apartment market she said was undervalued compared to the rest of the nation’s capitals.

“This is a developing space for Adelaide and I think in the years to come we will see outstanding sales results of penthouses in this level,” Mrs Williams said.

“In Sydney we’re seeing penthouses similar to The Wave selling for $20 million to $30 million.

“If we’re at a record-breaking level with this property I wouldn’t be surprised if this market keeps going up because it is becoming more highly regarded here in Adelaide.”