Showing posts with label central village. Show all posts
Showing posts with label central village. Show all posts

Wednesday, August 14, 2013

Metro Property Group - A remarkable marketing machine

Last week, Ken Woodley, marketing director of Metro Property Group, zoomed past me in his Jaguar.  He was leaving his Mirvac penthouse and heading in the direction of the Valley.  He must be super happy with the sales of Metro's off-the-plan apartments in the Valley.  As reported today in Property Observer, Metro has been hugely successful in its Valley developments.  Although they are marketed as luxury apartments, in my view, they are small, basic apartments, targeted at foreign investors who cannot buy existing apartments due to FIRB rules.

"Devine’s Metro Property Development group recorded 67 off-the-plan sales over the March quarter for Cambridge Towers, the first stage of its $450 million Central Village development in Fortitude Valley making it the top seller by some margin, according to the latest inner Brisbane apartment update from Colliers International.  Now under construction, Metro had sold 92 out of 165 units in the development as of the end of the March quarter.  In a release earlier this month, Metro said it had sold 80% of the 160 apartments in Oxford Towers, stage two of the project, with one and two bedroom apartments ranging from $275,000 to $575,000.  On completion Central Village will comprise five towers and approximately 970 apartments. The project is expected to take approximately five years to complete."

Saturday, November 17, 2012

Metro's Central Village

Metro Property Development has announced a new project with over 1,000 new apartments.  It is called Central Village and is located at 66 Brunswick Street in the Valley.    This is a busy road.   It is not the greatest location either.  Even through it is called "Central Village", according to Google, it is an 18 minute walk (1.5 km) to the Emporium Hotel (shown in the photos on the website) and 1 km to the main part of the Valley.  Neither of these would be pleasant walks.  You should try the walk before buying!

The first stage, called Cambridge Towers, has 163 apartments over 18 levels, mostly 1 bedroom apartments.

See also Brisbane Times story.