First Opal Tower apartment sells for profit since cracking


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An apartment in the Opal Tower has sold for a $158,000 profit.

One lucky Opal Tower apartment owner has managed to escape the building cracking turmoil — with a profit.

The investor’s damaged 10th floor apartment, possibly the worst affected within the 392-unit high-rise which was evacuated on Christmas Eve last year, has been sold for $950,000.

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The unit is on the 10th floor of the building.

Builder Icon Co (NSW) was the buyer.

But it appears to be a one-off sale, bought by the tower’s besieged builder Icon Co (NSW) Pty Ltd, whose solicitor declined to comment on the reasons behind the purchase.

The speculation, although not confirmed by Icon, was that the builder required ongoing access, and would eventually need to substantially reconfigure the apartment space.

A look at the unit’s layout.

The apartment has two bedrooms and two bathrooms.

The bullish $950,000 sale price of apartment 1005 was $158,000 more than the $742,000 off-the-plan price paid in 2014.

The 10th floor was where severe cracking prompted the evacuation of the entire building.

Images soon after showed damage outside the door to apartment 1005.

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The two-bedroom, two-bathroom unit had been a $600-a-week rental.


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