Billionaire Hong Kong Developer Lists Gold Coast Penthouse


Hong Kong-based billionaire Tony Fung remains committed to the Gold Coast despite listing his Surfers Paradise penthouse.

Fung had originally planned to make the penthouse his main Australian residence as he continues to grow his thoroughbred racing and bloodstock business – Aquis Farm – on the Gold Coast hinterland and pushes ahead with a $450 million hotel project on the beach at Surfers Paradise just to the north of Soul.

After abandoning plans for a major casino project at Yorkeys Knob in Far North Queensland in 2015, Fung has mainly focussed his investments on the Gold Coast including the Aquis Pacific Point project on The Esplanade at Surfers Paradise.

The project, which was approved by Gold Coast Council in May last year, will include more than 580 rooms, four restaurants, wellness centre, cafe, gym and three bars.

A spokesman for Mr Fung said he remained committed to the Gold Coast.

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Soul Penthouse 2

“He spends most of his time in Australia at the farm or on his boat in the Broadwater so rather than push ahead with a major fitout he is putting it back on the market,” the spokesman said.

Starting at more than 220 metres above sea level the Penthouse at Soul is one of the highest apartments in Australia available for residential occupation and includes Queensland’s highest private pool and spa.

The listing of the Surfers Paradise beachfront Penthouse comes just weeks after the sale of the 39th floor Penthouse in the nearby Chevron Renaissance building, which set a new Gold Coast Apartment record at $9.5 million.

The Soul Penthouse has been listed at $7.95 million.

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Soul Penthouse 3

The Penthouse has never been lived in as it was acquired as a “shell” and the original fit out discarded. BVN was appointed to create a bespoke design and the property now has approval for a much larger internal living area, which includes six ensuited bedrooms and a double-storey lobby.

The Penthouse covers approximately 1,040sq m of interior and exterior space. The apartment comes with six secure basement car spaces and access to all resort facilities.

The property is being marketed by Michael Kollosche and Jordan Williams of Kollosche Prestige Agents.

“The Penthouse space provided a blank canvas for the new owner to create their own luxury apartment in any style or configuration they wanted,” Kollosche said.

“This really is a unique opportunity for the right buyer to partner with architects and interior designers to put their own stamp on what is a truly incredible space,” he said.

Soul Penthouse 4

Kollosche, who was also the marketing and selling agent for the Chevron Renaissance Penthouse sale, said the apartment was likely to attract interest from international, interstate and local buyers.

“We will be marketing the property internationally, but we would also expect to see some strong interest from local buyers who understand the value and location,” he said.

He said the size of the space would be one of the key selling points.

At more than 1,000sqm it is 30% bigger than the Australia 108 Penthouse in Melbourne that sold for $25 million in 2016 and nearly four times bigger than the Opera Residences 280sqm penthouse that sold for $27 million late last year.

Marketing agent Michael Kollosche

The Soul $850 million precinct includes 14 restaurants, a 25-metre indoor pool, a 25-metre outdoor pool, sauna, spa, steam room, gymnasium and private entertaining areas for Soul residents and guests.

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