The competition being run by Flagship Property Holdings for its $48 million Penny Place apartment development has been designed to provide an incentive and potential reward for buyers returning to the market.

The competition provides a 1 in 25 chance for an apartment buyer to win a brand-new Mercedes-Benz A250e Hatch (Hybrid) valued at approx. $75,000.

Over the past few months, Penny Place has received a consistent level of enquiry from interested buyers despite not being able to open the Sales Centre.

Penny Place is now experiencing increasing demand with more than 75% of the apartments already sold. 

Developed by Flagship Property Holdings, the 24-storey, 78m high Penny Place development will incorporate 152 apartments, and feature a ground floor lobby, resident lounge and kitchen, space for a retail outlet, and a public plaza, as well as car parking for residents and a bike store.

Only two-bedroom apartments remain at Penny Place and these start from $575,000.   All one-bedroom apartments priced from $397,500 have now sold out.

Construction is due for completion in July 2021.

Penny Place forms the second stage of Flagship’s masterplan for the inner-city Angas Street site where it completed its Kodo apartment development early last year.

Full terms and conditions are available at Penny Place Apartments.