A $130m luxury apartment development in Adelaide’s East End has reached its highest point after a buyer splashed $6.1m on a sub-penthouse, claiming a new record price for the Adelaide market.
The eight storey building on East Tce will feature 33 apartments, and has already secured more than $60m worth of sales to local and interstate buyers.
That includes the $6.1m sub-penthouse – one of two sub-penthouses in the building – which offers sweeping 180 degree views and four car parks.
Sales agent Julianne Price said the sale represented a record price for a sub-penthouse in Adelaide amid strong interest in the apartments from interstate buyers.
“The record breaking sale of the sub-penthouse is a testament to the exceptional design, exclusive amenities and unique parkland views on offer,” she said.
Construction at the 200 East Terrace apartment project. Picture: Supplied by Minuzzo Project Management and Global Intertrade
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Construction at the 200 East Terrace apartment project. Picture: Supplied by Minuzzo Project Management and Global Intertrade
The view from the top of the apartment project on East Tce. Picture: Supplied by Minuzzo Project Management and Global Intertrade
“Demand for high-end, urban living in Adelaide continues to grow, with buyers drawn to this rare opportunity for luxurious yet low-maintenance living in the heart of the city.”
A topping out ceremony will be held on Wednesday to mark the latest milestone in construction, which is expected to be completed in September.
Local company Minuzzo Project Management has joined forces with international investment group Global Intertrade on the development at 200 East Tce, which is designed by Adelaide-based architecture firm Aplin Cook Gardner Architects.
Artist’s impression of the $130m luxury apartment development at 200 East Tce, Adelaide. Penthouse. Picture: Supplied by Global Intertrade and Minuzzo Project Management
Artist’s impression of the $130m luxury apartment development at 200 East Tce, Adelaide. Picture: Supplied by Global Intertrade and Minuzzo Project Management
Artist’s impression of the $130m luxury apartment development at 200 East Tce, Adelaide. Picture: Supplied by Global Intertrade and Minuzzo Project Management
Artist’s impression of the $130m luxury apartment development at 200 East Tce, Adelaide. Penthouse. Picture: Supplied by Global Intertrade and Minuzzo Project Management
Artist’s impression of the $130m luxury apartment development at 200 East Tce, Adelaide. Picture: Supplied by Global Intertrade and Minuzzo Project Management
Artist’s impression of the $130m luxury apartment development at 200 East Tce, Adelaide. Picture: Supplied by Global Intertrade and Minuzzo Project Management
Residents will have exclusive access to a wine room and private lounge area, as well as a luxurious BBQ and entertaining space.
A single penthouse will span the entire top floor of the building, stretching across 492sq m, and featuring a wraparound terrace and six car parks.
Global Intertrade managing director Manuel Ortigosa, a local resident of Adelaide’s East End, said that after 27 years of ownership of the site, it was the right time to deliver more luxury apartments into the Adelaide market.
Artist’s impression of the $130m development. Picture: Supplied by Global Intertrade and Minuzzo Project Management
“Having owned this site for nearly three decades and lived in this vibrant area for over 25 years, I am thrilled to see our vision come to life,” he said.
“These residences promise a unique and lasting opportunity to own a home-sized space with
world-class design and parkland views that can’t be found anywhere else in the city.”
Global Intertrade is backed by Spanish media mogul Javier Moll, and controls a significant portfolio of commercial property across Adelaide and vineyards in the Barossa Valley.
It previously partnered with Minuzzo – a local family-owned construction firm – on a $32m luxury apartment project on East Tce, just 100 metres south of their latest project. That was completed in 2020.
