Soleil Tower Sales Launched Today

Meriton's Soleil, its first building in Brisbane, launches this weekend. (Completion of the building is planned for 2011 or 2012.)

It will be 74 levels, and 234 metres high, located at the end of Adelaide Street, behind Skyline and next door to Macrossan (which is under construction).

Floors 31 to 64 contain the apartments that Meriton will sell. Floors 65 to 74, comprising 42 apartments, are not for sale. Floors 30 and below will probably be 175 serviced apartments, owned and managed by Meriton. A total of 188 apartments will go on sale this weekend. They are 1 to 3 bedroom apartments. The 2 and 3 bed apartments have 2 bathrooms, and an underground carpark (up to 10 levels below Adelaide Street level).

On the higher floors (above level 41), there are five apartments per floor. There are 3 elevators for about 220 apartments, which is not a great ratio. (Admiralty Two, just nearby, has 191 apartments and six elevators.)

None of the apartments have balconies. Airconditioned, full length windows, and floor to ceiling tiles in the bathroom. Indoor pool and gym.

Here are some example two bed, two bath apartments:

Apartment 6001, level 60, views south down the Brisbane River over the top of Skyline, 79 sqm and 1 car park. Listed for sale at $823,000, which is about $10,400 a sqm.

Apartment 4205, level 42, limited views between Admiralty Quays and River Place, but good views over All Hallows, 83 sqm and 1 car park. Listed for sale at $672,000, which is just over $8,000 per sqm.

Apartment 5204, level 52, views over Admiralty Quays, 78 sqm and 1 carpark. Listed for sale at $688,000, which is just over $8,800 a sqm.

Compare existing, older stock of 2 and 3 bedroom apartments nearby:

• Admiralty Two, Level 4, direct riverfront, 103 sqm (including balconey), listed at $720,000
• Skyline, Level 27, river views, 102 sqm (including balconey), fully furnished, listed at $720,000
• Admiralty One, Level 18, direct riverfront, 3 bedrooms, 2 carparks, 150 sqm, listed at $880,000.
• Quay West, Level 16, river and park views, 120 sqm, listed at $850,000
• River Place, Level 13, direct riverfront, 116 sqm listed at $675,000 or $675,000

From what I can tell, the current actual sales price for direct riverfront apartments in the city is between $6000 and $7000 a sqm.

Overall, Soleil is in a great location, the floor plans seem to be well designed, and Meriton will deliver. Care should be taken when selecting, as some apartments will not have great views due to neighbouring buildings -- but some apartments should have great views (if you like heights!). The apartments are a little small for my liking, and I am not sure about lack of balconey.