David Devine’s Metro Property Development group has increased its commitment to the inner-Brisbane apartment market, with approval granted for an $80 million project in South Brisbane. The 12-level development, called The Plaza, has been designed by architects Deicke Richards and is due to be built at the corner of Russell and Manning streets on a 2,270-square-metre site and will feature 168 apartments.
Off-the-plan marketing of the project will begin later this month. It will offer a mix of one- and two-bedroom apartments, ranging in price from $330,000 to $575,000.
The project will take the value of Metro’s approved apartment developments in Brisbane to more than $400 million.
Metro currently has 1,337 apartments under construction or approved for development in inner Brisbane and a further 950 apartments in the pipeline.
See Property Observer and Prior Post
Comment emailed to me by a reader, after this post was published:
"I came across your blog while searching for a project called The Plaza by developer Metro as you would probably know about. I was basically doing more research on the project as I may be interested in investing in it. Upon researching I found out that Aria would build one called the Vines directly in front of The Plaza which probably would have The Plaza looking to another building rather then the great city views it promises. Bascially from reading through your blog, you have given your opinion on Vines being too expensive...i agree btw."
Showing posts with label The Plaza. Show all posts
Showing posts with label The Plaza. Show all posts
Sunday, August 12, 2012
Saturday, August 4, 2012
South Brisbane Apartments
There are two large apartment buildings currently in presales in South Brisbane. One is Metro's The Plaza development. The other is Pradella's Canvas.
The Plaza is 12 levels of one and two bedroom apartments, priced up to $575,000. It is on the corner of Russell and Manning Streets.
Canvas is located on Boundary Street, and has 141 one and two bedroom apartments. The one bedrooms start at $346,000 and the two bedrooms start at $538,000. The one bedrooms shown on the website are small -- 44 sqm internal plus a 10 sqm balcony. This is about the size of a hotel suite. The two bedrooms range in size (internally) from 76 to 82 sqm. They are lower quality apartments, with the air conditioning compressor on the balcony for example.
To get a good idea of how small these apartments will be, have a look at a prior Pradella project in South Brisbane -- Allegro. Some details about Allegro are here, and video here. Go and have a look before you buy off the plan, so you can see what a small apartment is like. Apt 96 is for sale for $410,000, and it has two bedrooms. Apt 72 is two bedrooms with city views, listed at $420,000.
Or you can buy a top quality 2 bedroom apartment today in Saville South Bank, for $500,000 to $540,000. Saville is in a better location than The Plaza and Canvas, and is a much higher quality build than Allegro. Apt 1115 is a two bedroom listed for sale for $529,000, and it is 85 sqm internal with a 10 sqm balcony. I could be wrong, but this seems to me to be a much better buy than a smaller, lower quality apartment in Canvas which is more expensive, and has the added significant risk factor of buying off-the-plan.
The Plaza is 12 levels of one and two bedroom apartments, priced up to $575,000. It is on the corner of Russell and Manning Streets.
Canvas is located on Boundary Street, and has 141 one and two bedroom apartments. The one bedrooms start at $346,000 and the two bedrooms start at $538,000. The one bedrooms shown on the website are small -- 44 sqm internal plus a 10 sqm balcony. This is about the size of a hotel suite. The two bedrooms range in size (internally) from 76 to 82 sqm. They are lower quality apartments, with the air conditioning compressor on the balcony for example.
To get a good idea of how small these apartments will be, have a look at a prior Pradella project in South Brisbane -- Allegro. Some details about Allegro are here, and video here. Go and have a look before you buy off the plan, so you can see what a small apartment is like. Apt 96 is for sale for $410,000, and it has two bedrooms. Apt 72 is two bedrooms with city views, listed at $420,000.
Or you can buy a top quality 2 bedroom apartment today in Saville South Bank, for $500,000 to $540,000. Saville is in a better location than The Plaza and Canvas, and is a much higher quality build than Allegro. Apt 1115 is a two bedroom listed for sale for $529,000, and it is 85 sqm internal with a 10 sqm balcony. I could be wrong, but this seems to me to be a much better buy than a smaller, lower quality apartment in Canvas which is more expensive, and has the added significant risk factor of buying off-the-plan.
Sunday, October 2, 2011
Metro Property
Metro Property, owned by Pearls from India, David Devine and Ken Woodley (who lives in a Mirvac apartment), will soon launch The Plaza at South Brisbane. It is a ten story building located on Manning Street, with 165 small apartments.
Metro have sold their 37 Mayne Road development in Bowen Hills. The rumour is that it was sold to Arden Property Group.
In other news, there is a rumour that Devine/Leighton (no longer associated with David Devine) has sold its Camelot site on the corner of Albert Street and Margaret Street.
Metro have sold their 37 Mayne Road development in Bowen Hills. The rumour is that it was sold to Arden Property Group.
In other news, there is a rumour that Devine/Leighton (no longer associated with David Devine) has sold its Camelot site on the corner of Albert Street and Margaret Street.
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