Drugs, cops and TV: mystery pad with missing $500k rent bill

A mysterious million dollar apartment with a colourful past in Sydney’s Potts Point has sat abandoned for two decades, missing out on as much as half a million dollars in lost rent.

A mysterious apartment is up for sale on Springfield Ave, in Potts Point. Picture: David Swift

A mysterious apartment once used for police stake-outs and that featured in an Underbelly series has come up for sale – and if its walls could talk, the stories would be priceless.

Adding to the mystery is the fact it has sat abandoned for two decades, missing out on as much as half a million dollars in lost rent.

The two-bedroom property has seen better days and is now a shell of its former self with no plumbing, floor coverings or kitchen.

But, despite the extremely minimalist interior design, it still comes with a million dollar price tag thanks to its highly sought-after location in the heart of the Kings Cross precinct.

The rental apartment was left vacant for years, leaving the owner about half a million dollars out of pocket in rental income.

Cheryle Lanthois, selling agent with Ray White Potts Point, said the whereabouts of the unique unit’s owner is unknown but they are believed to be residing overseas and haven’t returned to the address in close to 20 years.

“There was a long-term building manager, who passed away a number of years ago, and he said he didn’t even know who the owners were. The person came in – we think – in the early 2000s and bought it with the intention of living in it, gutted it to do renovations but then simply went overseas and just never came back,” she said, adding that official records don’t show either the purchase price or date.

Actor Natalie Bassingthwaighte in a scene from TV program ''Underbelly 3: The Golden Mile'', which had scenes shot at the apartment.

“After about 15 years or so I believe the council and the body corporate decided to take them to court for unpaid levies and rates and that’s when family stepped in and saved it. But they live overseas as well, so it continued to just sit there.”

Why the owner never completed the work is unknown but the property did prove to be useful during that time.

“There is a story that the apartment was actually used by the police as a surveillance quarters. Kings Cross was once a very different neighbourhood than it is today so you can only imagine why the police needed to hide out there,” she said.

Ms Lanthois said the apartment was useful for drug surveillance as the intercom was apparently hooked up to the building manager’s office with the security screens. “They were watching for people who buzzed for apartment 107 because they knew it was drug-related,” she said.

Jessica Tovey in Underbelly The Golden Mile (2nd pic with Firass Dirani)

At the time, the unit was around the corner from a range of rowdy night venues such as John Ibrahim’s Tunnel nightclub, which was included in a list of the state government’s most dangerous venues based on violent incidents.

The apartment building at 2 Springfield Ave, which was built in the 1980s and has previously traded as the New Hastings Hotel, was also used as a location in 2010 for Underbelly: The Golden Mile. The building was even used for a scene where one character was thrown from a balcony.

“A few of the neighbours have told me their apartments featured in the show and someone did say they thought this unit was featured too, but I can’t confirm that,” she said.

Although 2 Springfield Ave doesn’t share the century-old history or charming art deco facade with its historic neighbours, Ms Lanthois said the complex is coveted for its communal rooftop terrace with sweeping 360-degree views of Sydney Harbour and the city.

It was a very different neighbourhood back then.

“It’s one of the best rooftops in Sydney. And this unit has a much larger than average terrace for the area. It’s more than 40 sqm, which is the size of some whole apartments in the neighbourhood,” she said.

If in a habitable condition, the gutted apartment could have earned significant rent over the years, according to Ms Lanthois, who said building residents were surprised to discover the state of the unit.

“A lot of people didn’t realise it had been completely gutted. Many were quite upset there was an apartment sitting empty when there has always been so many people in need of a home in the area,” she said.

Although rent for a two-bedroom Potts Point apartment currently averages $770 a week according to realestate.com.au, even at a modest $450 to $500 a week over 20 years the lost earnings on the abandoned apartment would total close to $500,000.

The apartment needs work.

The two-bedroom apartment measures 129sq m, with a parking space. While the current price tag is $1 million, Ms Lanthois said even with a modest renovation the property could sell for between $1.3 million and $1.4 million considering recent comparable sales.

Originally published as Drugs, cops and TV: mystery pad with missing $500k rent bill