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The Opal Tower in Sydney Olympic Park.
A four-bedroom penthouse atop the Opal Tower, which made headlines in 2018 when residents needed to be evacuated because of harmful cracking, has bought for $1.72m.
It was the vendor’s third try to dump the Olympic Park condominium since 2018. The unit had been listed with a special company again in Might with a $2.2m-$2.4m information earlier than being pulled from the market.
The 231sqm unit unfold throughout the thirty fifth and thirty sixth ranges of the tower was this time listed with Ania Aquino of McGrath-Strathfield who managed to get a pre-auction provide above the $1.65m value information.
Information indicated the vendor purchased the unit off the plan for $2.1m again in 2016. It was constructed in 2018.
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The penthouse bought for $1.72m.
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Regardless of the seller’s loss, it’s the very best re-sale value within the constructing thus far – by some measure. The earlier highest value paid within the constructing after the 2018 cracking incident was $800,000.
Ms Aquino stated general suggestions on the penthouse was optimistic however it was arduous for a lot of patrons to miss the historical past of the constructing. The strata charges had been $3100 per quarter.
“Everybody who noticed it liked it. It was only one that might solely attraction to a specific purchaser given the status,” Ms Aquino stated, including that the unit bought with an prolonged builder guarantee.
Ms Aquino stated the client received good worth. “If the identical unit was in a special constructing it in all probability would have bought for over $2.5m,” she stated.
Suggestions on the unit itself was optimistic, Ms Aquino stated.
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The Opal Tower is dwelling to almost 400 flats and was accomplished in mid-2018. Residents reported listening to loud banging noises on Christmas Eve that yr and had been swiftly evacuated.
Remedial works had been accomplished in 2020. A authorities report launched in 2019 blamed the cracks on design and building faults.
The report discovered that structural beams weren’t grievance and under-designed.
It’s understood that most of the models inside the tower are actually owned by the federal government.
Residents had been evacuated on Christmas Eve in 2018. Image: Tim Pascoe
Ms Aquino stated the penthouse condominium supplied “wonderful” views and options however was a tough promote. “Consumers would go away impressed however then they needed to assess in the event that they had been keen to take the danger, although there was a guaranty … in the long run it was a superb outcome.”
