Showing posts with label river park. Show all posts
Showing posts with label river park. Show all posts

Friday, December 13, 2013

New hotel in Mary Street

Currently under construction, but almost complete, at 103 Mary Street is a new hotel, to be branded as a Four Points by Sheraton.  It is 33 storeys.  It is impacting the views of River City and 212 Margaret, both which are neighbouring apartment buildings.  It is also adjacent to the 111+222 site in Mary/Margaret Street.

103 Mary Street is the second building from the left.  212 Margaret is on the left.  Quest River Park Central can be seen second from the right.


Thursday, March 22, 2012

Newstead Riverpark


"Developers FKP and Mirvac are major players in the quest to turn 17ha of prime riverfront land into a vibrant new community.  Located only 2km from Brisbane CBD, the Newstead Riverpark urban renewal precinct will become a residential hub, dining and entertainment venue, shopping destination and employment district."
Full story here.

Sunday, December 25, 2011

Apartments in Teneriffe, Brisbane


Rents and apartment prices to face some stiff competition in Teneriffe?

The sky-high rentals and apartment sale prices being charged for apartments in Teneriffe may soon face some stiff competition when the several hundred brand new apartments being built by FKP at its new Gasworks complex combined with those already for sale at Mirvac’s Waterfront complex, both at neighbouring Newstead, come on stream.  There are some 600 units and apartments planned for construction in that area.

This may have been the trigger for the formation for the recently formed Teneriffe Apartment Managers Network

A recently released brochure, Renting in Teneriffe, is available around the area and promotes sales and renting of apartments through the on-site apartment managers listed and includes 19 apartment complexes that are let by on-site managers in Teneriffe.  Many of the apartments at Teneriffe are converted Woolstores while others such as Dalgety-Mercantile and Winchcombe-Carson complexes were built around 1994-96. 

Perhaps the Teneriffe apartment complex managers have already concluded that they can expect some fierce competition in terms of property prices and rents towards the end of 2012 when the FKP apartments come on stream, which start at $450,000 just a hundred metres down the road from Teneriffe. 

Woolworths is set to open a supermarket in the FKP complex, and boutique shops are planned along with office space and the 5 hectare Parklands area. It’s going to be interesting to see if rents and property prices hold up in Teneriffe when these complexes come on stream in late 2012 and early 2013.

Saturday, November 12, 2011

Buyer Confidence Improves

The AFR had a story on Thursday about Brisbane apartments, "Buyer Confidence Improves" (p. 55).  Highlights from the article (copy available here):

  • Thousands of new apartments in Brisbane's inner city have helped boost sales volumes 30% in September quarter compared with the June quarter, but the number sold is still substantially lower than the same period in 2010.
  • 312 new apartments sold in September quarter, according to Place Advisory research report
  • Influx of new projects scheduled for next year - 1000 new apartments are expected to come onto the market in the first half of 2012.
  • 2059 new apartments currently for sale in Brisbane
  • Average sales price was $580,529.
  • "The Brisbane market is at the bottom of its cycle and we are now starting to see an increase in inquiry and sales activity" according to Mr Walker from Place.
  • Most of the sales appear to be to overseas and interstate buyers.
  • "The biggest positive is the local buyers are yet to enter the market. ... As consumer sentiment improves, they will start buying again."
  • The influx of new units, particularly in urban renewal precincts such as Hamilton riverfront, Newstead River Park, and Show Ground Hill, could limit the market's recovery.
  • Agents said too much choice and concerns about whether the market has hit bottom could constrain buyers.
  • Urbis property economics consultants said Brisbane has a long-term undersupply problem.

Saturday, June 4, 2011

Recent Brisbane Auction Results

Just over a week ago, Ray White had an auction where 12 Brisbane inner city apartments went to auction. Only one sold at auction (1201 in UniLodge for just over $100,000). Over a week after the auction, most of the apartments that did not sell at the auction are still listed for sale. Why vendors decide to go to auction in Brisbane amazes me. These apartments are not selling at the prices listed below, so the market must be saying that they are worth less than this. And why buy an off the plan apartment for more than these prices? Some examples of the many apartments that Ray White was unable to sell:
  • Felix, Apt 121, 1 bed, no car - failed to sell at or after auction, now listed for $330,000
  • Felix, Apt 147, 2 bed, 2 bath, 1 car, end apartment - failed to sell at or after auction, now listed for $470,000
  • Charlotte Towers, Apt 605, 1 bed, no car - failed to sell at or after auction, now listed for $315,000
  • Charlotte Towers, Apt 2401, 1 bed, 1 car - failed to sell at or after auction, now listed for at the unrealistic price of $410,000
  • Festival Towers, Apt 906, 1 bed, no car - failed to sell at or after auction, now listed for $320,000
  • River Park Central - Apt 603, 2 bed, 2 bath - failed to sell at or after auction, now listed for $410,000
  • River City, Apt 1803, 2 bed, 2 bath - failed to sell at or after auction, now listed for $433,000
  • Aurora, Apt 626, 3 bed - failed to sell at or after auction, now listed for $1,300,000
  • Grosvenor, Apt 1504, 3 bed - - failed to sell at or after auction, now listed for $1,800,000

Monday, May 24, 2010

Recent Sales

  • MacArthur Chambers - 2 beds, 2 bath, Apt 609, 229 Queen Street, sold for $790,000 and now listed for rent at $730 per week furnished.
  • Aurora Towers - 2 beds, 1 bath, Apt 365, 420 Queen Street, sold for $490,500
  • River Park Central, 2 bed, 2 bath, Apt 1102, 120 Mary Street, sold for $420,000

Saturday, July 14, 2007

Mary Street Developments

It has been reported that Devine has bought a two level complex at 99 Mary Street in Brisbane, which is adjacent to Devine's River City apartment building (at 79 Albert Street). Devine is said to be planning an A-grade office building. This will block views from the eastern side of River City apartments.

There are also plans for an office tower at 110 Mary Street, which is opposite 99 Mary Street. This is a 24 level office tower, called the Mattise Tower. This is next door to the Quest River Park Central Serviced Apartments building, and will block the views on the western side of that building.

There is also the large Vision apartment building at 105 Mary Street, which will be more than 60 levels. This will also impact the Quest River Park Central Serviced Apartments building, and will block the park views of the Charlotte Towers building.

There is also talk that the Kings Carpark at 53 Albert Street will be redeveloped, impacting River City apartments.