Soul penthouse renovation in Surfers Paradise on Gold Coast revealed
A renovation of the $20m Soul penthouse in Surfers Paradise took two-and-a-half years but the owner says it was worth the wait. TAKE A SNEAK PEEK INSIDE
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A PENTHOUSE valued at more than $20 million is set to hit the market following a two-and-a-half year renovation job that took the apartment from a concrete shell to a luxurious four-storey residence 220 metres above ground level.
The penthouse occupies levels 70 to 73 of the Soul tower in Surfers Paradise.
Andrew Koloadin, who in 2017 sold web-hosting firm Digital Pacific for $52m, bought the penthouse from Hong Kong tycoon Tony Fung for $6.5 million in 2018.
In 2014 the penthouse was stripped back to a concrete shell for its marketing campaign and sold to Mr Fung for $7m the following year. It was originally bought off the plan by Charlie Caltibiano for $16.85m. However, the sale was not finalised and he never moved in following a court dispute which he lost.
Mr Koloadin, who lives in Sydney with his wife and three-month-old son, said he spoke to the building manager soon after acquiring the penthouse.
“This was bought and sold a number of times but no one had ever taken on the task of completing it,” he said.
“The building manager … said, ‘you’re the third or fourth person to buy this. Are you going to be like everyone else (and sell it)?’
“I had no option but to complete this. That was my motivation. It was a challenge.”
What followed was two-and-a-half years of renovations and building work involving more than 100 tradespeople working countless hours on every detail of the property.
PQI Group general manager Craig Stewart, whose Gold Coast company handled the fit-out, said the job was challenging but worthwhile.
Five bedrooms were fitted out, including the master with his and hers walk-in wardrobes and powder rooms, dining and sitting rooms, two lounges, study, kitchen, butler’s pantry, cigar lounge and bar.
A fireplace on level 71 required engineering approvals to be put in place.
“All materials used are of the finest quality, including marble and natural stone throughout, Ventech timber veneer joinery, solid brass trims, grass-cloth wall papers and doors clad in brushed brass,” Mr Stewart said.
“Other features include herringbone oak timber floors installed by Scribed Timber Flooring, a state-of-the-art kitchen, and an automated system for lighting, airconditioning and curtains.”
A pool, spa and barbecue area takes up the top level.
Mr Koloadin stayed in another unit within Soul during the renovations, flying from Sydney every second week.
Every aspect of the penthouse was completed to his specifications and involved its own challenges.
The roof of the lift had to be removed so the 3m-long glass dining table could fit and be taken up for installation.
Mr Koloadin put together the lighting feature above the dining table himself, featuring 560 pieces of crystal.
“It took me 13 hours. I finished at 3.30am.
“Once I’m in the rhythm I’m just focused.”
Multiple engineers were involved in cutting out the concrete for the oval-shaped void over the living area level. The job cost $40,000 alone and each piece of concrete had to be carefully weighed so it would not exceed the lift’s capacity when it travelled to the ground floor.
Mr Koloadin said he had no shortage of people wanting to work on the penthouse.
“I put my heart and soul into it,” he said.
“People wanted to work on this apartment. It wasn’t about choosing the cheapest person. It was choosing people immersed in their craft.”
Mr Koloadin said it was completed in September last year. However, no one has lived there yet.
“I’ll probably put it on the market,” he said.
“During COVID my wife and I had a baby … and I live in Sydney so I think we just don’t have the time to come here.
“It will be hard to sell but hopefully someone comes along that likes it and I’ll even take Bitcoin for it.”
Mr Koloadin said he had been told, based on sales of new penthouses, that it could be worth more than $20m.
He said agents had told him there was also no comparable product on the market.
“If I get $20m-plus for it I’d sell. If I don’t I’ll hold onto it.”
Originally published as Soul penthouse renovation in Surfers Paradise on Gold Coast revealed
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