Prepared by: Marquee Projects
Project Address: 25-27 Hope Street, South Brisbane
Practical Completion Date: December 2015
Settlement Date: January 2016
- Fleet Lane Apartments are now Sold Out!
- Construction of Fleet Lane Apartments continues ahead of schedule.
- Apartment prototype to be completed in 4 weeks.
- Levels 6 currently under construction.
Prices Strengthen in Inner Brisbane Apartment Market: Place The Urben Developer, 5th June 2015
Inner Brisbane apartment sales remained strong through the first quarter of 2015, reinforcing the record breaking quarter realised in December 2014, according to a new report by real estate agent, Place.
Place’s March Quarter – Inner Brisbane Apartments Market Report, revealed that the weighted average price strengthened during the March 2015 quarter to $606,469, an increase of 10% on the previous quarter.
It said that in the three months to March 2015, the inner Brisbane market recorded 1,225 unconditional sales. Although this is not to the same level of transactions as the record breaking December Quarter prior, this was still a 92% growth on the same quarter 12 months prior and 200% above the 10 year average.
“We expect unconditional sales to remain strong through the coming years as residential development drives change and apartment living evolves and escalates throughout this new cycle,” Place said.
The report’s findings were backed by Sam Patterson, director of Brisbane-based Citi Project Marketing.
“The attractiveness of Brisbane’s apartment prices in comparison to Sydney and Melbourne is certainly fueling this demand,” Mr Patterson said.
“It’s both investors and owner occupiers who are looking for value in their purchases.”
“Mr Patterson also believe the strong sales were here to stay for the foreseeable future.”
“Interest rates are at an all-time low and the city’s population is set to increase dramatically over the next 5-10 years so we see these results as just the beginning of Brisbane’s apartment market boom,” Mr Patterson said.
Queens Wharf development to be annoucned following the QLD State Budget on the 14th July 2015
Echo Entertainment and James Packer’s Crown will have to wait until after this month’s Queensland budget announcement to find out who has won the right to build Brisbane’s multi-billion dollar Queen’s Wharf Casino in the heart of the Brisbane CBD.
Despite pressure from the private sector to green-light major projects and help kick start the state’s ailing economy, Acting Premier Jackie Trad said the evaluation of the bids and probity checks on Queen’s Wharf were not yet finished.
“I don’t think it will be before budget,” Ms Trad said in Brisbane on Sunday. “The Queen’s Wharf project continues apace. There has been no delays. But we need to do the appropriate checks. The project will be announced soon.”
Construction Progress: Despite some inclement wet weather incurred over the last month construction works continue to progress well throughout all levels including structural, building services, carpentry partition & ceiling framing and sheeting trades.
Construction has progressed to Level 6 with the erection of walls and support for the Level 7 ground floor slab currently underway. Finishes trades are now working from Level 2 to basement and expect to have fully completed a prototype apartment in the next 4 weeks. The prototype will be used as a benchmark for remaining apartment finishes. Non-structural walls are currently being erected on levels 3 and 4, with supports still in place for structural walls and floor slabs on level 5 and 6.