Queensland’s most expensive penthouse is for sale again and is expected to sell for in excess of $10 million as the regions luxurious market grows.
The Courier-Mail has received word that the property is being remodelled and the McGrath real estate group will soon begin a marketing campaign with the target market being wealthy buyers.
The penthouse is currently the subject of an ongoing legal battle between Brisbane businessmen Carmelo Caltbiano and Juniper Property Holdings.The deal between the parties was never settled and has gone to the Supreme Court.
The penthouse which has four-levels is located in the Soul building at Surfers Paradise.It is expected to cost $10 million as opposed to its 2006 price of $16.85 million.
Alongside the penthouse, a series of new developments signify an era of luxurious properties.
A 40-storey Abian Botanic Gardens residential tower in the CBD offered by The Sunland group will be completed by mid-2017.
Depending on market interest, the tower will either offer a single 1200 square metres penthouse at $60 million or two 550 square metres penthouses at $7.95 million and $7.25 million.
In 2018, construction for the 274m Brisbane Sky Tower will be completed. The tower will cost $1 billion and will offer six penthouses costing $5 million each.
Operations manager John Fitzgerald said the height will offer both convenience and a spectacular views.
“Once you reach that height, you have all the convenience of living in the heart of the city but your sense of place is different. The vistas are the mountains and Moreton Bay,” Mr Fitzgerald said.
The most expensive penthouse sold in Queensland is the Pier South in Newstead which was sold for $14.25 million in 2008.
The Soul will be the most expensive property on the market.