New York-style loft apartment up for grabs in tightly-held Port Adelaide building – realestate.com.au

News Corp Australia Network

It’s the kind of loft apartment you would expect to find in New York – but it’s in the heart of Port Adelaide.

The property at 20/83 Lipson St on the highest level of a former industrial building has hit the market for the first time in almost 20 years.

Built as a paint factory in roughly 1906, the state heritage-listed building was turned into 20 residential apartments in 2000 – all of which have since become tightly held.

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The unit at No.20, which resembles a New York-style loft, has been owned by the same vendors since April 2005 when they bought it for $212,000, according to property records.

Selling agent Blake Scholz, of Ray White Unley, said it was a rare offering not just because it was so tightly held but also because of its industrial style.

“Port Adelaide is probably one of the only places in Adelaide you can get that kind of thing,” he said.

“It’s more common in Melbourne and Sydney but pretty unique for Adelaide.”

Mr Scholz said the apartment was attracting strong interest from a range of buyers, including those looking to live in it and some keen to have it as an investment property.

Some of them, he said, have been waiting years for a property in the building to hit the market.

“They’re very tightly held,” he said.

“The owners, they live in the building in another apartment too.”

The apartment has an open kitchen and living area, a bathroom and mezzanine with a built-in wardrobe, a study nook and storage space.

A soaring cathedral-style ceiling, exposed beams and a painted brick wall highlight its industrial character.

Remnants of antique hoisting machinery, which have been preserved since the building was constructed, are also on full-show.

However, the mezzanine parapet’s intricate design and claw-foot bath are among the features that make it feel homey.

The property is listed with a $400,000 to $440,000 price guide.