- The Gold Coast apartment boom seems to have filtered over to its larger capital cousin
- Four major apartment developments are underway
- Syke, LIV Anura, Alouette and Rivello, plus Condev makes a move on Brisbane
The Gold Coast apartment boom seems to have filtered over to its larger capital cousin, with Brisbane experiencing a residential building frenzy.
Four major developments are all underway in the Queensland capital, and a Gold Coast developer has decided to have a look at the city for the first time.
Skye Apartments
Pikos Property Group has unveiled its $200 million Skye Apartments, with a limited pre-release of 24 apartments overlooking Brisbane’s Kangaroo Point cliffs.
Apartment prices will range from $2.55 million – $3.1million with a $9 million penthouse positioned on top. There will be only 24 apartments in the first release of residences up for grabs.
“We have already received in excess of 600 registrations of interest so we anticipate this first release will be an almost instantaneous sell-out,” said Grant Plummer, Director of Gap Development Sales, the company managing Skye’s sales.
Once complete, Skye by Pikos will encompass apartments across three towers, including three 2-storey penthouses.
Pikos Property Group is simultaneously gearing up to deliver a $350 million Kangaroo Point development at Lambert Street after receiving council approval earlier this year for the three-tower project.
Waterfront Newstead, Liv Anura
Meanwhile, leading developer Mirvac has officially started work on more than 500 apartments across two new residential developments at its $1 billion Waterfront Newstead community.
Combined, the dual-tower $270 million LIV Anura build to rent project and $180 million Quay Waterfront Newstead premium riverside development will deliver 538 apartments and create more than 500 direct and indirect construction jobs over the next three years.
Queensland Treasurer and Minister for Investment, Cameron Dick MP, joined Mirvac General Manager Build to Rent, Angela Buckley, and Mirvac General Manager Residential Queensland, Warwick Bible, to turn the first sod on the buildings.
Alouette Residences Newstead
Residential apartment developer HG Developments has announced a new $60 million boutique apartment building Alouette Residences Newstead, a collection of 57 premium apartments in the exclusive Newstead North area.
Alouette will offer one, two, three and four-bedroom inner-city apartments across eight levels.
Designed by award-winning Ellivo Architects who have worked with HG Developments for the best part of a decade, prices for a one-bedroom plus MPR apartment start at $580,000 for 96sqm, while two-bedroom apartments begin at $720,000 for 118sqm and two-bedrooms plus MPR apartments are priced and sized from $795,000 for 117sqm.
Three-bedroom apartments start at $875,000 for a 122sqm floorplan and range to $1.4million for three bedrooms plus MPR (164sqm), while four-bedroom apartments range in price upward of $1.415million for 173sqm.
Rivello appoints builder
Brookfield Residential Properties has appointed builder, Tomkins Commercial and Industrial Builders, to construct its latest mixed-use development, Rivello in Hamilton on the Brisbane River.
Work is set to start months ahead of schedule, after more than $118 million in sales were secured within weeks of Rivello’s launch to market.
Construction is anticipated to commence on the 21-storey building, located in the Portside residential and lifestyle precinct in Hamilton, in late October, with completion scheduled for late 2023.
Rivello is the ninth building to be developed at Portside by Brookfield Residential Properties, which has already delivered more than 850 riverside apartments in the precinct.
More than 80% of the 150 one-, two- and three-bedroom apartments, sub-penthouses and penthouses in Rivello have sold off-the-plan since the project was officially released in early August.
Condev makes a move
One of Gold Coast’s most respected construction firms is making a strategic move to increase its investment in Brisbane ahead of the 2032 Brisbane Olympic Games.
Condev Construction believes Brisbane will be one of Australia’s most active development precincts not only because of the Olympic infrastructure boom but also high migration from the southern states.
Condev Director of National Strategy and Development, Nick Ensor, said there had never been a better time to ratchet up its foothold in Brisbane.
“Brisbane now accounts for 38% of our business in South East Queensland, which has increased by 11% from 12 months ago, and we hope to grow this by a further 10% per annum in the coming years.”
“It’s been a sensational period for Condev, which undertook over $66 million in Brisbane projects during the 2021 financial year, and we have no intention of slowing this momentum.”
Nick Ensor, Condev
“Brisbane now accounts for 38% of our business in South East Queensland, which has increased by 11% from 12 months ago, and we hope to grow this by a further 10% per annum in the coming years.”
