A THIRTY-STOREY tower in the centre of Brisbane’s most active apartment precinct sold all 250 apartments within 10 weeks.
In response to the sales success of the $142 million Ivy, joint venture partners Abacus Property Group, CDL and Kilcor will bring forward the sales release of its sister tower, Eve.
The twin-tower, mixed-use project on Merivale St is one of several apartment projects for the Inner South precinct.
Its position in South Brisbane puts it in the same sphere as high profile projects such as Brisbane 1 and Skyneedle, but 360 Property Group regional director Jeremy Gilmore, who is marketing the project, said competition was not a problem.
“Things that come to the market, if they’re done correctly like Ivy and Eve with the level of amenity, sell out pretty quickly,” he said.
Mr Gilmore said South Brisbane had everything buyers wanted on its doorstep.
“We were quite surprised at the level of interest from owner occupiers at the larger three-bedroom apartments we created. We joined some two and one-bedrooms together because we were getting that interest. That was great for the project,’ he said.
“We also sold a number of the city-facing one and two-bedroom apartments to local owner occupiers.
“But like everything else, we also had a bit of interest out of New South Wales, and investors out of Sydney.
“We did a bit (offshore marketing) but didn’t really need it. A lot of Chinese buyers were local, and already residing in Australia. We probably sold 15 per cent of Ivy overseas.
“(Selling out so fast) surprised even us – we did not intend to bring Eve on this quickly, but due to the demand we have.”
Registrations are open for Eve, with sales to launch later this year.
Ivy and Eve will share resort-style common facilities on podium level five, including a club room, four private dining rooms, teppanyaki bar, outdoor movie screen, lap pool, and outdoor IT pods.
Construction is expected to be completed in 2017.
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