Brisbane-based Di Marco Group and Singaporean TG Development have lodged plans for their second residential site in Brisbane, a boutique apartment development in West End.
The five-level development, dubbed Amersham West End, will comprise 24 two, three and four-bedroom residences targeted at owner-occupiers.
The 1,325sq m site, located at 8-10 Amersham Street, was purchased for $4.1 million from a local family that had owned the property for over half a century.
According to Di Marco Group managing director Adam Di Marco, the site represents a unique opportunity to capture the holy trinity: elevated, north-east facing city views.
Colliers International Adam Rubie and Brendan Hogan negotiated the sale of the Amersham Street site, which is zoned ‘low medium density residential’.
“In the last 18 months, we are seeing Brisbane-based development groups focussing on the inner-city sites and looking to build boutique premium projects in response to market demand, Colliers International executive Adam Rubie said.
Amersham, designed by local architecture firm Arkhefield, is the second residential development by Di Marco Group and TG, following the $3.85 million acquisition of a 486sq m site at 466 Ann Street last year.
The Ann Street development will be the first boutique residential project to be built in Brisbane’s CBD in almost two decades. The building will comprise 19 single-floor apartments.
The ever evolving suburb of West End, from an inner-city industrial area to a vibrant mixed-use lifestyle precinct, has continued to interest developers and investors aiming to build on a fringe CBD suburb well-positioned for future growth.
Sydney-based Crown Group recently received approval for its $350 million Fjmt-designed residential development which will see the addition of 400 apartments to the river front site at 117 Victoria Street.
Major development projects in West End also include Japanese developer Sekisui’s $800 million mixed-use precinct West Villageproject, and Pradella’s Light & Co project as part of its broader $1 billion investment in West End.
Developer R&F Property lodged a development application for stage one of its $500 million project, revised to 12-storeys, toward the close of last year. The amalgamated 1.6 hectare site straddles Donkin and Hoskings streets.