HOT SPOTS IN INNER EAST
THE BENENFITS of a redevelopment surge in Coorparoo have flowed to smaller projects around the inner-east suburb.
The suburb is a standout of the Inner East, with the State of Place Market Report showing 139 apartments sold in the 12-month period in Coorparoo more than any of the surrounding suburbs – and an extra 2133 residences were expected over the next 20 years.
A third of the new inner east projects monitored by Urbis in The Brisbane Apartment Essentials report for September quarter 2015 were in Coorparoo.
Project Property Sales’ Adam Williams is marketing the twin-towers project Ebony and Ivory, and said large projects such as the Coorparoo Square redevelopment of the former Myer site was an attraction in the area.
“That’s a big development, and I think even (with) the smaller developments, there seem to be few hot spots around Coorparoo, with three to four storey buildings that suit the streetscape,” he said.
Mr Williams said Ebony and Ivory’s elevated location on Durham St had already attracted strong local owner occupier interest within two weeks or launching to market.
“Even one of the one-bedrooms, we signed a contract with a first homebuyer, a young lady. We have downsizers looking at the three bedrooms in the development,” he said.
Mr Williams said while developers the Di Carlo family, HAL Architects and Leighway Designs created the sister towers, each building would have its own body corporate and different fit-outs and colour schemes.
“That’s [Coorparoo Square] a big development, and I think even (with) the smaller developments, there seem to be a few hot spots around Coorparoo, with three to four storey buildings that suit the streetscape.
ADAM WILLIAMS | PROJECT PROPERTY SALES
“Rather than 40 units in one block, it has that smaller feeling, with only 20 units,” he said.
Mr Williams said the apartments were designed with the owner occupier market in mind, and offered an extra 10sqm to 15sqm of internal space than other apartments on the market
“Most of the two-bedroom are more than 85sqm, the three-bedroom are all more than 100sqm internally,” he said.
Construction is due to start in February, with completion of ivory in March 2017, and Ebony in June 2017.
One-bedroom apartments are priced from $415,00, two-bedroom from $510,000 and three-bedroom from $635,000.
This article by the Courier Mail Home, Author Jane Pinder, published 30th January 2016.