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Brisbane

The South-east Queensland developers building communities, not buildings

queensland developer

Why build a simple apartment block when you can build a neighbourhood?

These new Brisbane and Gold Coast developments have embraced lifestyle and leisure in their latest offerings.

Yeerongpilly Green

This multi-stage development in Brisbane’s south is more than just a housing block; it’s a new neighbourhood.

As a budding urban village, Yeerongpilly Green comprises boutique apartments and townhomes, along with employment, medical and education facilities to be completed over the next 10 years.

Currently for sale off the plan are one, two and three-bedroom north-facing apartments, penthouses and terraced homes.

The project’s “village heart” will include a full-line Woolworths supermarket, retail shops and restaurants, and lifestyle amenities including a cinema, gym, healthcare and childcare facilities, alongside restored heritage buildings and three office blocks.

queensland development

Neighbouring the development is the Ashley Cooper Riverwalk and historic Brisbane Golf Club, along with the Queensland Tennis Centre and Yeerongpilly train station.

 

The site is owned by the Queensland government, who partnered with the private sector to bring the desirable riverside land back into community use. So far, $70 million has been spent on core infrastructure.

Chief executive officer and executive chairman of Consolidated Properties Group Don O’Rouke said a key focus of the development was innovative architecture made for Brisbane.

“It’s high-quality architecture and it’s made to take advantage of the sub-tropical climate that Brisbane has, so an emphasis on cross-flow breezes, correct sun orientation – there’s definitely that focus on sustainability,” he said.

queensland developers

“We’ve paid particular attention to room sizes, ceiling heights; we really applied a fine-toothed comb to each element of the apartments from the outside down to the size of the broom closet.”

Mr O’Rourke said purchasers could have peace of mind knowing that the vendor was the state government and that the project had engaged Australia’s largest private contractor Hutchinson Builders.

“We have a sunrise date, so we have a guarantee to our purchasers that we will start construction of a stage on a particular date, so they’re not sitting in limbo,” he said.

Prices range from $460,000 for a one-bedroom apartment to from $975,000 for a penthouse, and from $1.275 million for a townhome.

queensland developers

Yeerongpilly Green is located at 28 Godiva Avenue, Yeerongpilly, Queensland.

For more information, contact the sales team on 1300 855 460 or visit https://www.domain.com.au/project/3707/yeerongpilly-green-yeerongpilly-qld/.

A sales centre is open daily from 10am to 5pm at 21 Queens Way, Yeerongpilly.

Estilo on Kittyhawk

In the north Brisbane suburb of Chermside, this new development offers one to four-bedroom apartments beside 73 hectares of lush parkland.

Three and four-bedroom apartments have already been snapped up, with only one and two-bedroom residences remaining and move-in ready.

The project has appealed to both owner-occupiers and investors, with 5 per cent yields on both one and two-bedroom apartments.

building communities

Estilo is located in the northern part of the suburb, with easy access to cycling and walking tracks in the nearby park and of course to Westfield Chermside, a major shopping centre and dining precinct.

Marketing and sales director Samuel Gardener said this proximity made for a key selling point.

“The site offers fantastic accessibility to both the parkland and Westfield [shopping centre], including the main bus hub for transport,” he said.

building develop

“Walkability is the key to the location, and peace and quiet with the parkside locale.”

On-site amenities include a heated pool and recreation or function space on the ground floor, a rooftop recreation space with dining and barbecue areas, and a community herb garden.

Interiors feature Ceasarstone benchtops, Bosch appliance and German tapware, porcelain tiles, noise-cancelling glazing, and wool carpets, as well as zoned and ducted airconditioning.

Mr Gardener said there were several aspects of the development that set it apart from others in the market.

“The design and quality of the interiors and exterior of the apartments is a key physical differentiating factor to other apartment complexes within Chermside,” he said.

building

“The parkside position and accessibility to Westfield Chermside are also valuable drawcards, but what is most impressive is the sense of community within Estilo on Kittyhawk.

“Since completion, we have seen the growth of this prospering community with resident-driven functions, wine tastings, fitness classes, vehicle and herb sharing platforms, and even a car washing service!”

Prices start at $344,000 for a one-bedroom apartment and $397,000 for a two-bedroom apartment.

developer
Estilo on Kittyhawk. Photo: Gardner Vaughan Group

Estilo on Kittyhawk can be found at 91 Kittyhawk Drive, Chermside, Queensland.

For further details, contact Sandra Gardner on 0413 430 896 or visit https://www.domain.com.au/project/2842/estilo-on-kittyhawk-chermside-qld/.

Esperance

Situated in a prime waterside location on Hope Island, this retirement development will offer 300 apartments and villas, alongside 150 metres of water frontage.

Touted as “the Gold Coast’s most luxurious retirement community”, Esperance offers bountiful amenities, proximity to nature and picturesque surroundings.

On offer in the first stage of development are two-bedroom, two-bathroom homes and three-bedroom penthouses with water and island views.

Esperance_Hope_Island_yuuyfw

The project will be home to a host of amenities, including a cinema, bar, cafe, library, private function and dining rooms and outdoor entertainment spaces.

For health and wellness, residents will have access to indoor and outdoor pools, a gym, yoga studio, hair and beauty salon, and outdoor exercise spaces.

The development also plans to incorporate aged care living options.

Esperance_Hope_Island2_ceok6r

Outside Esperance, residents will be close to the shops and eateries of Hope Island Marketplace, as well as jetties and beaches for keen boaters or kayakers.

Reside Communities chief executive Glen Brown said the development stood apart from standard apartment or townhouse living in its services, facilities and social opportunities for older residents.

“Esperance has been uniquely tailored to meet the needs and expectations of today’s generation of active and independent retirees based on research undertaken by Reside,” he said.

“Our research has found top priorities for Gold Coast retirees include proximity to the water, independence, convenience, security, privacy, freedom of choice, social connections, and an experienced and trustworthy operator.

Esperance_Hope_Island3_prbpzp

“Travelling, health and fitness, volunteering, and spending quality time with families and grandchildren are among their most desired leisure time activities.

“Esperance has been carefully created to offer all this and more right in the heart of the highly sought-after Gold Coast North Shore.”

Construction of the project’s first stage is due to begin in early 2021, with a build time of 12 to 15 months.

Prices start at $550,000. Esperance is located at 2 Sickle Avenue, Hope Island, Queensland.

For more details, contact Esperance Sales on 0490 003 162 or visit https://www.domain.com.au/project/4150/esperance-hope-island-qld/.

A sales suite is open on-site between 10am and 3pm, Tuesday to Saturday.

This article is republished from https://www.domain.com.au/ under a Creative Commons license. Read the original article.

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Brisbane

Mirvac Sells Golden Triangle Tower for $87m

Golden Triangle Tower

Melbourne-based property fund manager Forza Capital has picked up a prominent office building in Brisbane’s “Golden Triangle” from Mirvac for $86.7 million.

The property, located at 340 Adelaide Street—on the corner of Adelaide and Wharf Streets, comprises 12,800sq m of B-Grade office space across 17-levels, together with a ground floor cafe and parking for 100 cars.

In recent years, Mirvac has refurbished the building, upgrading the lobby and repositioning the external ground plane and retail.

Mirvac chief investment officer Brett Draffen said the proceeds from the sale will be redeployed into prime and A-grade commercial assets as well as its $22.4 billion development pipeline across the residential, office and industrial sectors.

The deal, negotiated by CBRE’s Flint Davidson, Tom Phipps and Bruce Baker, represents an 11 per cent premium to its book value in June.

“As the first major, post-Covid capital markets transaction in the Brisbane CBD, this deal highlights the demand from onshore investors for quality office assets,” Phipps said.

Golden Triangle Tower1

The building is 93 per cent leased to tenants Covermore, Cerebral Palsy League and Oracle, and has a weighted average lease expiry of 3.8 years. Image: Supplied

“As travel restrictions ease we expect the market to awaken in the first half of next year fuelled by historically low financing costs and Brisbane’s attractive yield spread.”

Forza Capital director Ashley Wain said the asset represented exceptional value, given the building’s comprehensive refurbishment program, and was transacted with a high degree of certainty over a period of one month.

“Shortly after Covid struck, [we] identified the opportunity to prepare our investor base of sophisticated investors for opportunistic property investments.

“Speed to transact was anticipated to be critical and we believed getting early capital commitments and being able to transact quickly would be paramount to securing new investments on attractive metrics,” Wain said.

The acquisition represented $52.5 million of equity from Forza’s client base of family offices, high net worth advisory groups and individuals, and will now sit in the newly-established Forza 340 Adelaide Street Fund.

“The uncertainty in office investment markets has created really attractive investment metrics which, when combined with highly competitive debt funding, results in a target 8 per cent per annum distribution yield over the first five years of the investment,” Wain said.

Last week, Dexus listed a neighbouring A-grade office tower, located at 10 Eagle Street, with price expectations of $300 million.

 

The post “Mirvac Sells Golden Triangle Tower for $87m” by Ted Tabet appeared first on the theurbandeveloper.com Blog

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Brisbane

Yeronga trophy home fronting the Brisbane River listed

Brisbane River

A riverfront Yeronga, Queensland trophy home has been listed without a price guide.

The five bedroom, five bathroom abode is being marketed by Heath Williams and Nick Hurwood of Place.

Situated at 363 Brisbane Corso, the tri-level home fronts the Brisbane River.

Set on 916 sqm, it features two swimming pools and a private boat pontoon.

Other features include full-height stacked glass sliding doors opening out to a covered balcony which capture sweeping Brisbane River views as well as a ground-level rumpus or games room equipped with a bar, a projector and a linked balcony.

It is located seven kilometres from the CBD.

 

The post “Yeronga trophy home fronting the Brisbane River listed” appeared first on the propertyobserver.com.au Blog

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Brisbane

Mirvac offloads Brisbane office building for $87m

Mirvac office building

Mirvac has offloaded a 17-storey office building in Brisbane to Melbourne-based property fund manager Forza Capital for $86.75 million in one of the first institutional grade office deals to take place in the city since COVID-19 struck.

The building, which is in Brisbane’s ‘Golden Triangle’ at 340 Adelaide Street, had undergone an extensive refurbishment by Mirvac and sold at an 11 per cent premium to its last book valuation in June.

The property, which is 93 per cent leased to tenants such as Oracle, Cover-more Insurance and the Attorney General’s Office, has a 3.8 year weighted average lease expiry.

Brett Draffen, chief investment officer at Mirvac, said proceeds from the sale would be redeployed to grow its asset creation business and would allow the group to “capitalise on opportunities to create Australia’s next generation of workplaces, residential communities and mixed-use precincts”.

The office tower is the first asset to be acquired by Forza Capital following a $240 million capital raising from its client base of family offices and high net worth advisory groups in September and will sit in the newly established Forza 340 Adelaide Street Fund.

Forza Capital director Adam Murchie said they had advised their investor base to be prepared for opportunistic property investments shortly after COVID-19 had struck.

“Speed to transact was anticipated to be critical and we believed getting early capital commitments and being able to transact quickly would be paramount to securing new investments on attractive metrics.”

Forza Capital director Ashley Wain said the uncertainty in the office market had created attractive investment metrics.

“When combined with highly competitive debt funding [the metrics] result in a target eight per cent per annum distribution yield over the first five years of the investment.”

The deal was negotiated by CBRE’s Flint Davidson, Tom Phipps and Bruce Baker, and Matt Lawrence arranging the debt.

“As the first major, post-COVID capital markets transaction in the Brisbane CBD, this deal highlights the demand from onshore investors for quality office assets,” Mr Phipps said.

“As travel restrictions ease we expect the market to awaken in the first half of next year fuelled by historically low financing costs and Brisbane’s attractive yield spread.”

 

The post “Mirvac offloads Brisbane office building for $87m” appeared first on the afr.com Blog
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