Colliers vacates Adelaide off the plan sales space

Colliers International (SA) will be closing its residential sales division.

It comes after two key staff left suddenly to set up on their own firm.

James Young, chief executive with Colliers (SA) said the departure of Nick Pelvay and James Polacek was disappointing.

“We won’t be moving forward with residential,” he told the local paper.

“We backed a team in, gave them 100% support and invested a lot of time and effort. I felt it was the right team. We will be closing residential down for the time being. Unfortunately they have decided that life on their own is more to their liking.”

Pelvay advised he'd have retained the contracts for the projects at East End Living and The Adelaidean.

"There are also a couple more to be announced,” Pelvay said.

The new sales company is to be called ‘Projected’ .

Construction at The Adelaidean on Frome Street will begin next month while the demolition at the East End Living site at 293 Pirie St begins this week.

Mid-year a sub-penthouse apartment at The Adelaidean sold off the plan for more than $3 million.

The apartment, designed by architects Brown Falconer, is the amalgamation of two apartments on sub-penthouse level 34, and measures more than 300 square metres.