Showing posts with label australand. Show all posts
Showing posts with label australand. Show all posts

Saturday, September 28, 2013

Australand’s Watermarque

From an email from a PR consultant for a developer:

I thought you might be interested in this sales update for Australand’s Watermarque precinct within its $500 million Hamilton Reach development.

More than $120 million in sales have been achieved to date and only three two bedroom apartments remain for sale in the boutique precinct.  The apartments have proven popular with downsizers looking to sell their existing homes and relocate to an inner city, riverside luxury address.  The trend has been backed by Place Advisory’s Market Report on Inner Brisbane Apartments, which reported downsizers were beginning to influence the off-the-plan market for the first time since the GFC, demanding larger and higher quality stock.

The report showed two bedroom apartments accounted for the highest amount of inner Brisbane apartment sales in the June 2013 Quarter, with 48 per cent of unconditional sales registered.  Place Advisory’s Lachlan Walker said the highest number of sales was recorded in the Inner North, which includes the suburbs of Hamilton, Fortitude Valley, Kelvin Grove, Bowen Hills, Newstead, Albion, Milton, Toowong, Bowen Hills, Tenerife and New Farm, which was a positive indication local confidence is returning to the Brisbane off-the-plan market.

“The Inner North, which includes the suburb of Hamilton has again performed well in the latest quarter,” Mr Walker said.  “It’s a popular choice for inner Brisbane locals who are looking to downsize their homes but not compromise on a connected, inner-city lifestyle.  The sales results reflect there are a lot of good buying opportunities in the area but smart buyers know this stock is limited and are taking advantage.”

Watermarque will feature 78 apartments across two medium-rise five-storey buildings. The three remaining apartments are priced from $635,000 - $710,000.



Friday, February 24, 2012

Receivers Move Into Alderley Square

This blog reported recently that PCN's Alderley Square development was on hold.  The AFR reported on Thursday that receivers have moved into Alderley Square, due to a significant slow down in sales.

  • Developer owes Westpac $12 million.
  • Construction has not yet started.
  • Off-the-plan purchases have dried up.
  • Colliers reports 30 months of supply of new apartments in Brisbane.
  • Alderley Square had 234 apartments across 3 buildings.
  • In the first 12 months, $55 million of contracts, mostly to locals.
  • In the next six months, only $4 million in sales, even with the $10,000 building boost.
  • The AFR reports that buyer fatigue extends throughout south-east Queensland.
  • At Australand's Yungaba project at Kangaroo Point, only 37 out of 167 lots have been sold, or about $33 million out of $150 million of stock.
  • What will happen to PCN's El Dorado Indooroopilly development?
  • See also story here and here.

Friday, January 27, 2012

Hamilton Reach Press Release

Diversified property group Australand is poised to begin construction on one of Brisbane’s most anticipated new residential projects – the $400 million Hamilton Reach in the Northshore Riverside precinct. 
Following a successful sales run equating to more than 60 percent of available product, Australand is about to start work on The Green Quarter – the second release at Hamilton Reach since its launch in April 2011. 
The Green Quarter – comprising 12 unique terrace homes located just one street back from the Brisbane River is anticipated to be completed late 2012. 
“Hamilton Reach has generated a high level of interest due to its sought-after low to medium density masterplan, diverse and considered product and its unrivalled riverfront location,” he said.  “The project has been designed as a highly liveable community optimising views to the river and parklands.  Hamilton Reach will be intrinsically different to anything else in the area as it has been designed as a boutique enclave that is spaced out over a number of low rise buildings which have been extremely well received.” 
ULDA urban development director, Matt Leyshon, said Northshore Hamilton is currently undergoing the biggest urban renewal in Brisbane’s history and Australand’s Hamilton Reach is a significant part of the precinct’s transformation. 
“Northshore Hamilton is the most significant waterfront redevelopment in Brisbane since Expo 88 and Southbank,” he said. 
Watermarque features a stunning collection of 78 contemporary apartments across two five-storey buildings. There are a variety of floor plans with one, two and three-bedroom configurations on offer ranging in size from 56 sqm to 333 sqm.
The Green Quarter’s terrace homes will be built according to stringent design and construction standards in a bid to reduce the future energy costs for the end user.
Designed by Rothe Loweman White Architecture, the terrace homes will feature a 3 kilowatt solar power system, double glazing to windows and doors, cross ventilation, a 3000-litre rainwater tank plumbed to the toilets and laundry,  private courtyards and smart meters to monitor water and electricity usage. 
The terrace homes range in size from 193sqm to 280sqm and remaining homes are priced from $925,000 - $1.375 million. Watermarque apartments are selling from $535,000 - $950,000.

Saturday, November 19, 2011

Northshore Hamilton

The $5 billion Northshore Hamilton urban redevelopment is underway, with thousands of apartments expected to be built in the next 10 years.  About 15,000 new residents are expected to move into this area, which is an old port and industrial precinct 6 km down river from Brisbane City.
  • Two Devine apartment buildings are almost complete, with a third on the way.
  • Brookfield Multiplex is building another Portside apartment building, Promenade (172 apartment), with two more planned.
  • Citimark has development approval for Rivana, 15 levels with 208 apartments.
  • Mirvac has a three building apartment complex planned, with a sales display office constructed onsite.
  • Australand has launched 78 apartments as part of its $400 million project, Hamilton Reach.
Will there be an oversupply of small, non-riverfront apartments in this part of Hamilton, where there are few facilities and not much within walking distance?

Friday, March 4, 2011

Australand's New Riverfront Project

"LISTED property developer Australand will launch a $400 million riverside project in Brisbane’s Northshore precinct this month – the first major new development since January’s flood devastation.

The $55 million first stage of the Hamilton Reach project features 78 residential apartments across two five-storey buildings and will initially create up to 80 full time construction jobs. Once complete, the Northshore development will comprise around 800 apartments and townhouses across 530 metres of elevated riverfront living, about 6 kilometres from Brisbane’s CBD.

Australand has also commenced construction on its controversial $160m Yungaba development at Kangaroo Point last year and is close to releasing the first stage of luxury residences within the heritage-listed Yungaba House building.

The Promontory stage of Yungaba is around 60 per cent sold totalling $30 million. The project was initially met with some resistance from the community, particularly the Yungaba House Action Group who believed the redevelopment of the heritage building wasn’t in the interest of the public. Fulcher says the protests are well behind the company and the project will preserve the cultural value."


Wednesday, February 16, 2011

Australand reports...

Mr Fehring, Australand's executive general manager, residential, is reported in the AFR today as saying the margins were improving. However, the Queensland floods had "dampened activity and sentiment in an already subdued market."

Friday, January 21, 2011

Yungaba and The Milton - Flood Issues

Yungaba is an off-the-plan development at Kangaroo Point current being built and marketed by Australand. The Australand Property Group informed the market yesterday that Yungaba would be delayed because of the floods. "That has obviously hampered progress on the project and the full impact is yet to be determined. First settlements are now expected in the first half of 2012 instead of the forecast second half of 2011".

I wonder what people will think of this project now -- I suspect sales may be a little slow for a while.

FKP said it suffered damage to its sales suite at Milton for its overpriced off-the-plan development "The Milton".

Analysts said Mirvac Group faced the risk of a slower sales rate because of the floods.

See also article in The Australian

Tuesday, September 15, 2009

Yungaba at Kangaroo Point


DEVELOPER Australand will this month begin marketing its $160 million Brisbane apartment development -- to be built on the heritage-listed site where the city's first immigrants arrived in 1887.

The 167 apartments are planned for the Yungaba House site at Kangaroo Point, an exclusive pocket of inner-city real estate on the banks of the Brisbane River.

The development, which has been hotly opposed by the Yungaba Action Group, involves three new apartment buildings as well as the conversion of historic Yungaba House immigration centre into 10 luxury residences. According to selling agents Colliers International, this month's scheduled release of off-the-plan apartments comes at a time of huge pent-up demand from buyers.

"In a Brisbane market paralysed by the credit crunch, buyers have had very limited off-the-plan options," said residential director Ben Langfield said.

"The launch of Yungaba comes at a time when buyers are crying out for a slice of inner-city living."

Built in 1887 as an immigration reception centre, Yungaba accepted its first six residents at the end of that year from the migrant ship the Duke of Buccleuch. Australand Queensland general manager Nigel Edgar said the project, which included the construction of a public multicultural centre, would unlock lost heritage and give residents an opportunity to live in one of Brisbane's most exclusive inner-city areas.

However, Australand's plans have not impressed the Yungaba Action Group, which says the planned multicultural centre is not an acceptable substitute for a building that was the gateway to Queensland.

The Kangaroo Point development, on a 1.9ha site bought by Australand in 2003, will be a mix of one-, two- and three-bedroom apartments as well as double-storey sky homes.

The Australian

Prices range from $410,000 for a 77sqm one bedroom to $2.2M for a 286sqm three bedroom apartment.