Skyscraper penthouse sells for $5.2m

The apartment, with a designer kitchen, has been empty for more than two years. Photo / Geoff Dale

The penthouse in the 30-level Sentinel apartment block on the North Shore has sold for $5.2 million.

One of the country's most luxurious units has been empty for more than two years, but the buyer is expected to move in soon. Rick Martin of Cornerstone Group, the Takapuna block's developer, said he had a deposit on the two-level apartment, after the collapse of a deal to sell it in 2007 for $11.2 million.

Mike Panjwani, with business interests in New Zealand, India, Singapore, Europe and Dubai, was to buy the unit. But that fell through and the unit has stood empty since the tallest Shore tower was finished in 2008. The new deal is due to settle this month and a young Asian businessman is understood to be the buyer.

Mr Martin said the sale price equated to $9500 per square metre for indoor living areas or $4775/sq m including the extensive decks.

The apartment comes with four carparks, a designer kitchen and outdoor pool areas.

Mr Martin said four units were still unsold in the complex.