Sky high living

Sky high living

Apartment living is becoming a way of life for an increasing proportion of South Australians – including homes for the downsizing Baby Boomers segment of the market-  where luxury apartments and penthouses and “sky villa’s” are the newest trend for the high end of the Apartments market.

Tom Bowden, The Advertiser Real Estate Editor, says: “We have seen, recently, $5.2 million (paid) for the penthouse at the top of the Realm apartments (being built on North Tce in the CBD). These penthouses are commanding a premium price and there are buyers out there who are prepared to go to those lengths.”

V Three Group are majority investors in the development of  Botaniq, now under construction on the former Hackney Hotel site near the Botanic Gardens. It will transform the site into a new precinct, with the Gardens and River at its doorstep,  for a mix of retail and residential, including premium apartments and  townhouses, and six luxury Sky Lofts.  Sky Lofts are a unique residential property offering for Adelaide, an adaptation between the New York-style loft apartments and townhouse villas, designed with a second mezzanine level adding a strong sense of light and space to traditional apartment designs, giving buyers the best of both worlds – apartment living and townhouse living.

Ruan Perera, Founder and Director of VThree Real Estate says “the premium apartments in Botaniq all sold off the plan, with our real estate agents now moving on to sales of the townhouses”  adding that he does not expect the Sky Lofts to be formally released for sale until after they are built but “I’m sure if a buyer really wanted to secure one, our real estate agents will help guide on how they could secure one of the six”.

Such projects are proving increasingly popular in exclusive areas in and around the CBD. “We’ve seen in recent years a number of quality apartments and housing projects pop up along that city fringe area,” Bowden says. “They’ve all been really attractive and really popular due to their proximity to things like the city, the Botanic Gardens, those really desirable amenities.”


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