Peter Devitt snaps up heavily discounted $9.2 million Main Beach Gold Coast penthouse: Title Tattle

Peter Devitt snaps up heavily discounted $9.2 million Main Beach Gold Coast penthouse: Title Tattle
Jonathan ChancellorJanuary 17, 2012

Melbourne construction industry company director and horse racing enthusiast Peter Devitt has snapped up a heavily discounted Gold Coast penthouse.

It was bought late last year from Jennifer Reardon, the wife of cotton and macadamia farmer Rob Reardon, who accepted $9.2 million for the five-bedroom Liberty Panorama penthouse at Main Beach.

It was initially listed in 2007 with $16.5 million hopes, then $15 million in 2008 and $14 million in 2009.

Built over two levels with a private lift, it sits atop the Gold Coast's first elliptical-shaped high-rise, completed in 2001.

Coming with 1,200 square metres of space, it was bought off the plan from Mirvac for $3.29 million in 2000.

The shared facilities include lagoon-style pool, tennis court and indoor lap pool.

The complex is only a short distance from the restaurant and boutique shopping precinct. It had been listed through Livin In Prestige Properties agent Sharon Lloyd.

The last time Devitt, the LU Simon Builders managing director and former president of the Master Builders Association of Victoria, was in the news was in 2010 when he snapped up the penthouse at The Melburnian on St Kilda Road for about $15.5 million.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Editor's Picks

Above Zero to launch Glyndon in Camberwell
Sunkin takes luxury to new heights at Highett Common
The K2K Plan to transform Kensington and Anzac Parade corridor
Bathla launches Hillview Terrace, North Kellyville townhouse development
“A lifestyle destination rather than a holiday destination” Why the Gold Coast is now more boom than bust