Nz's priciest penthouse

Pre-Christmas offers are wanted for the country's most expensive penthouse after a record-breaking £3.9 million offer failed...

Developer and Cornerstone Group Chief Rick Martin has instructed Julia Turnwald of Bayleys to find a new buyer for the Sentinel penthouse in Takapuna.

Ms Turnwald said the market had changed considerably since the first offer was made last year. But the apartment's size, 360-degree views and level of luxury made it extraordinary.

"It's so unique and a once-in-a-lifetime opportunity that the market won't dictate the price," she said.

The new owner will need lots of spare cash - annual body corporate fees are $35,000.

Living Edge Interiors did a luxury fit-out and industry insiders said the 450sq m place might now be bought for about £3.5 million.

Last September, Indian businessman Mike Panjwani said he had a deal to buy the apartment. At the time, his offer set a record.

The businessman with interests here, in Singapore, Europe and Dubai had a conditional agreement to buy levels 29 and 30, which is unit 2901 at 3-9 Northcroft St.

But he told the Herald last year that he might spend only a few weeks a year in the penthouse.

"We don't know how much time we're spending there. My family can't afford to spend months in New Zealand. The taxes are very high."

The Sentinel apartment is open for viewing by appointment and offers must be in by December 16th.

Source: NZ Herald