Tuesday, August 19, 2008

Trilogy Sales

Demolition has started on the site for the Trilogy building in Brisbane.

The building will include a Mirvac managed hotel. Mirvac is not the developer and is not doing the construction. It is uncertain if a construction contract has been signed, and construction finance probably has not been obtained yet.

The hotel component includes 192 strata titled 1 and 2 bedroom suites. These are now in pre-release, with pricing starting at $480,000 and going up to $1M. According to my survey, between 60 and 70 have been sold. The public launch has been delayed, and is likely to be early September 2008. The developer is offering a 6% rent guarantee for 2 years, with settlement due in 2012.

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