This Blog is designed to provide information about buying or renting apartments in Brisbane, Australia.
Saturday, July 5, 2008
The Mill at Albion Goes on Public Sale
The Mill development by FKP at Albion went on sale today in public release. There had been about 4 weeks of pre-release sales to people who had pre-registered or who were on the FKP database. It was reported that more than 70% of the 143 apartments had sold in pre-release.
The development consists of 4 new buildings -- 2 which are residential, and 2 are commercial. There is also an old flour mill on the site, which will be renovated. One residential building is 10 floors high, and apartments in this building look south to the city or east over Albion. This building has a lap pool on a podium deck. The second building has apartments that mostly look east, but some weird shaped apartments look north. (One line of apartments looks directly into two old silos, which will remain on site.) People living in the second building have access to the pool in the first building, but will have to cross a road to get to that building.
Most of the apartments have 2 bedrooms and 2 bathrooms. All the one bedroom apartments are reported to be sold. There are also some three bedroom apartments.
Most of the 2 bedroom apartments range in size from 85 sqm to about 92 sqm internal, plus a balcony. The pricing for 2 bedroom range from $660,000 to mid $700,000s.
The site is located on or adjacent to the Albion railway station.
I would be concerned that the views from the apartments could be built out. The current aspect is not attractive -- the views are of or over warehouses, a pub car park and an adult shop. The area is mostly light industrial.
The most common two bedroom design is called a 2F. It is 92 sqm internal, with a 15 sqm balcony. It is a good size overall, and the rooms all are a good size too. The front door of the apartment opens into an open "mud room". There are glass sliding doors from the "mud room" to the dining room. There is no separate kitchen -- a wall kitchen is located on the side of the dining room. The second bedroom is an "internal" room -- it has a high window onto the hallway and a window into a "mud room". The apartment has showers but no bath. I was offered one of these apartments, on a low floor looking east, for $685,000 (or about $6400 a sqm).