Showing posts with label aria. Show all posts
Showing posts with label aria. Show all posts

Saturday, March 7, 2015

Developments in Brisbane

A good website to look for future developments in Brisbane is the Brisbane Development website.  It demonstrates that there are many large apartment buildings in the pipeline for Brisbane.  Some examples:
  • CavCorp's proposal for 366 apartments at Newstead Gasworks.
  • Walker Corporation has plans for 433 apartments on Ann Street in the Valley.
  • Aria plans for 84 apartments in Vulture Street in the South Brisbane
  • Plans for 353 apartments on Brunswick Street in the Valley
Before buying, it is worth looking to see if your views will be blocked by any proposed new development.  And keep in mind that there is likely to be an oversupply of new apartments in Brisbane in the next 2 years.  Maybe wait until these buildings all settle, and you may then get a better price.

The Brisbane Development website has a good interactive map showing developments.


Austin Apartment Sale

Aria developed a property at 77 Grey Street, South Brisbane, overlooking the Queensland Museum, called Austin.

Apartment 1807 is currently listed for sale at just less than $700,000.  The apartment has a nice view of the roof of the museum (which is not so attractive) as well as the river and city skyline.  This part of Grey Street is busy, often with traffic jams.  The location is a very short walk to downtown Brisbane.

The apartment has two bedrooms, two bathrooms, and is 80 sqm internal, with a small 9 sqm balcony.    So this works out to be over $7,850 a sqm.  To me, that is very expensive.

If you are considering buying an apartment off-the-plan, it is worth looking at this apartment to see what an 80 sqm apartment is like.  For example, look at the photo below -- there is no place to put a TV, unless you put the TV or the couch in front of a window, and the coffee table has been pushed up against the couch to make the room seem bigger.  The kitchen is not really a room, but a row of floor tiles.  The bedrooms are tiny, at 3m by 3.1m; or 3.05m by 3.3m.  Typically, you would not want a bedroom less than 3m x 4m.

Keep in mind that two bedroom apartments with good views can be as large as 130 sqm, so remember to compare apples with apples when looking at apartments.  That is why price per square metre is a good comparison measure.





Wednesday, February 5, 2014

Botanica South Brisbane

From information provided by Aria:

Botanica will be located in a prime location at 2-4 Edmondstone Street, South Brisbane which is opposite Coles and adjacent to the renowned Boundary street retail precinct.   The building will consist of 1 and 2 bedroom units, indicatively priced as follows;

  • 1 bed 1 bath with parking (50sqm internally & 7sqm balconies): high $300’s - mid $400’s
  • 2 bed 1 bath with parking (65sqm internally & 10sqm balconies): high $400’s – mid $500’s
  • 2 bed 2 bath with parking (80sqm internally & 10sqm balconies): high $500’s - mid $600’s
That pricing seems high to me.  I can buy a great two bedroom two bathroom apartment in a good inner city building, that is more than 85 sqm internal and more than 12 sqm external, for less than these prices.


Saturday, February 1, 2014

Aria's South Brisbane Bet

The AFR on Thursday (30/01/14, p.38) had a full page story about Brisbane apartment developer, Aria.  Some highlights:
  • Aria has sold 188 apartments in three residential towers it has completed in South Brisbane since mid-2012.
  • It has a 20 storey tower under construction on Grey Street.
  • It is about to start another 20 storey tower of the corner of Edmondstone and Boundary Streets.
  • Aria owns a dozen more sites in South Brisbane.
  • South Brisbane is catching up to Bowen Hills and The Valley for residential apartment development.
  • The change is due to construction of office towers, bring 10,000 workers to the area.
  • Residential building approvals have jumped from 151 in 2010/11 to 744 in 2012/13.
  • Gross rental yields are said to be 6%.
  • Prices for Aria's apartments are $7,500 to $8,000 a sqm, and are likely to rise.
  • Aria has lodged a DA for a 26 storey tower on Hope Street that will have over 180 apartments.
  • Aria pays interest on deposits for off-the-plan apartments.
  • 75% of Aria's clients are investors, with fewer than 10% being SMSFs.
  • Half the buyers are from SE Queensland.
  • There are more than 4000 apartments under construction in inner Brisbane.  The biggest supply potential is in Brisbane's North Eastern area, around Bowen Hills and The Valley - this is seen as a risk.

Saturday, August 31, 2013

Targeting the Chinese

You know when a developer is targeting foreign buyers when they produce a brochure in Chinese.  Here is a very nice brochure for Botanica, a development by Aria, in South Brisbane.  It will be located on the corner of Boundary Street and Edmondstone Street.  One and two bedroom apartments.

Friday, August 31, 2012

Aria in South Brisbane

Aria has been in the news recently.  Extracts from two stories below.  I think that South Brisbane is a good location, but a number of Aria's apartment buildings are located in non-prime and C-tier locations within South Brisbane.

"THERE are pockets of prosperity to be found in southeast Queensland's property sector despite the recent lacklustre performance of the market. Nestled between two flanks of the winding Brisbane River, medium-rise residential and commercial properties are popping up among the easy-living environs of Southbank, the city's convention centre hub, the Gallery of Modern Art and Griffith University. South Brisbane, just across the Victoria Bridge from Brisbane's central business district, is benefiting from local and state government changes to push it out of its light industrial past and into a trendy and bustling future.

 Aria Property Group has made the area a focal point of its activities, with sales of their medium-rise residential towers in the inner-city area almost completely sold out before the foundations are sunk. Aria Property head of development Chris Mitchell says apartment sales at the company's 65-apartment project, Station 16, have just settled, while construction was under way on two of the company's other residential developments.

"South Brisbane is the focus of the business at the moment because of its location and rental premium over alternative inner-city locations," Mitchell says.  "We did quite an extensive amount of research to make sure what we were trying to deliver would fit the market in terms of quality and price points.  Certainly, the location was a big selling factor."
Aria Property Group has developed its inner-city niche in South Brisbane since arriving on the Queensland property scene almost a decade ago.  The company has a $250 million investment portfolio that includes 63 commercial, retail and industrial sites and tenancies across southeast Queensland. Its future apartment pipeline could be up to 2500 apartments.
Formed in 2003 by developer Tim Forrester - the son of FKP co-founder and long-serving chief executive Rod Forrester - Aria has concentrated on delivering high-end investment product in the region."

Full story in The Australian


See also Brisbane Times:

"The CMC asked Brisbane City Council in June to investigate its role in letting Aria buy the eight square metres of footpath for the Edmonstone Street development.

A Brisbane City Council spokesman said yesterday the council's investigations were completed last month and no evidence of official misconduct by council officers or staff with the former state Department of Resource Management had been found.

Aria's managing director Tim Forrester said the developer had no "short term" plans to go ahead with the Edmonstone Street tower. "We're focused on these more boutique developments," he said. Mr Forrester would not be drawn on the developer's further plans for South Brisbane, but said there was a "chronic" under supply of housing in the suburb "There's such a demand for apartments and as a result we're seeing rents remain incredibly strong," he said. "There's an increasing number of office workers in South Brisbane and that's really pushing up demand on the southern side of the river."

Mr Forrester added young professionals were also showing a preference for boutique apartment buildings on the southern side of the river, over soaring towers in the CBD. He said he was hopeful the council would welcome the proposal for Grey Street, as it came in under the area's 20-storey height limit.   Just two two-bedroom apartments remain for sale in the Artisan development, which is due to be completed in June next year. The remaining apartments are priced at $594,000 and $629,000. The complex features 66 apartments over 10 levels with 37 one-bedroom and 29 two-bedroom residences."

Thursday, August 2, 2012

South Brisbane apartment

Proposed apartment building by Aria at 77 Grey Street in South Brisbane.  Proposed to be 18 stories.
36 two bedroom apartments & 84 one bedroom apartments (for a total of 120 apartments), but only 106 car parks including visitor car parking.
Many of the apartments will have a nice view of the wall of the museum, or the very busy Grey St/Melbourne St intersection and busway.


Saturday, March 10, 2012

Vine on Russell Prices

Vine on Russell was recently released by Aria Property Group.  It is located in South Brisbane, opposite Musgrave Park.  Construction to start in June and to be completed in mid 2013.

As at the end of the first week in March, after about 3 weeks of sales activity, 50 of the 56 apartments were reported as being sold by the developer.  This is a fantastic result, or the developer is not being truthful, take your pick.

Some pricing for the apartments that remain for sale:

  • Apt 702, a studio apartment, 55 sqm internal, $446,000
  • Apt 303, a two bedroom apartment on the corner of the building, overlooking Cordelia St (which is a major road, and noisy), 73 sqm internal, $609,000
  • Apt 705, two bedroom on Cordelia St, 75 sqm internal, $614,000
Looking at current sales of quality apartments in the inner city apartments, and what is currently listed for sale, these prices seem to me to be outrageously high for small apartments with few facilities that are located on a major road.  Obviously, 50 purchasers don't think so.

Monday, March 5, 2012

Vine on Russell, at South Brisbane

Another apartment building from Aria in South Brisbane:  Vine on Russell, which is on the corner of Russell Street and Cordelia Street (a busy main road), overlooking Musgrave Park.

An 8 storey building, with at total of 56 apartments, either 1 or 2 bedroom apartments.  No pool.

Saturday, July 23, 2011

Ugly West End Tower


Developers Aria are planning an ugly high rise tower in West End. It will be 30 storeys, with 275 apartments. Local residents are not happy. It is clearly out of character in the area. What facilities are the council building for all the new residents coming to West End? None.

Maybe buyers and renters should avoid Aria's other projects as a sign of protest?

Wednesday, July 21, 2010

Station 16 - South Brisbane

A new development from Aria, at West End is Station 16. Located at 16 Merivale Street, close to the off-ramp for the new Go Between Bridge. 60 apartments in total. One bedrooms from $335,000. Two bedrooms from $485,000.

"Station 16, offering 36 two bedroom apartments (including 5 Dual Key options) across 10 levels will take advantage of South Brisbane’s existing and future $4 billion infrastructure spend with the added benefit of an anticipated settlement date in 2012. The functional, contemporary, architecturally designed apartments that include European appliances tick all the boxes for the astute investor. With a selection of apartments boasting north-east facing aspect that provide outstanding Brisbane CBD views, you will want to be one of the first to secure your piece of Brisbane’s future."

Monday, September 15, 2008

West Village

Aria has launched a website for its South Brisbane - West End project, currently in the final stages of council approval.

www.gowestend.com.au

This project will have mostly small one bedroom apartments, priced from $380,000. There will be some two bedroom apartments, priced from $660,000.

The building will be located on Edmondstone Street in South Brisbane.