Sunday, February 27, 2011
Soleil Marketing
Saturday, February 19, 2011
Macrossan, Soleil and Skyline
Sunday, February 13, 2011
New Apartment Projects In Brisbane
Saturday, October 9, 2010
Brisbane Skyline
Sunday, August 22, 2010
Macrossan and Soleil growing
A nice photo from Chris Hinds showing Macrossan Residents and Soleil growing, with Skyline to the right, and then Admiralty Quays and Admiralty Towers One.
Thursday, July 8, 2010
Triguboff's View of Brisbane Apartments
"... In Brisbane the market is tougher and Triguboff may need to hold many of the apartments being built as an investment.
He says that it seems that as you go north prosperity declines with Melbourne the most prosperous city followed by Sydney a notch down and Brisbane two or three notches below Sydney. Prices of two bedroom apartments in Brisbane sell for about a 30 to 35% below Sydney, partly because of the lower cost of land and partly because of the lack of confidence in Brisbane.
However Triguboff believes, in time, the gap will narrow. Brisbane buyers' confidence has been shaken by the collapse of a number of apartment projects. But Triguboff believes that in time Brisbane will regain its confidence and he will have the apartments there to sell. ..."
From Smart Company
Sunday, May 9, 2010
Skyline
My favourite floorplan in Skyline (30 Macrossan Street) is the G2 floorplan. It is a 3 bed apartment, and most have 2 carparks. There is a big difference in views from lower floors (which have a good city street view towards the Marriott Hotel, and some river glimpses between Admiralty Quays and Admiralty One) and the higher floors, that have a river view over Admiralty One.
Friday, February 12, 2010
Soleil Update February 2010
From an email from the Meriton sales agent:
Soleil is the fastest selling development in Brisbane and is set to become the most impressive building in the Brisbane CBD,
offering affordable luxury apartments while maximising outstanding views at every turn.
Soleil has a selection of Studio, 1, 2 & 3 bedroom apartments
available for sale. UNBELIEVABLE VALUE, VERY
HIGH RENTAL RETURNS AND A MAGNIFICENT 74 STORY TOWER IN THE HEART OF BRISBANE CBD
One bedroom apartments priced from $334,000
Two bedroom, two bathroom apartments and parking priced from $545,000
Two bed & study apartments with parking priced from $618,000 level 50
Three bedroom apartments with parking priced from $760,000 (level 41)
Three bedroom apartments with double parking priced from $931,000
All apartments include floor to ceiling glass, blinds, light fittings, air conditioning,
Stainless Steel European kitchen appliances including a cook top, dishwasher, electric oven
and a range hood. The Estimated completion date: mid to the end of 2011, depending on the level of the apartment.
Wednesday, February 3, 2010
Chinese Big Buyers In Soleil
"... let me start this week with four facts about what is happening in the Australian dwelling market that may surprise you.
First, if metals prices keep falling and take the Australian dollar down further (as is widely predicted) some segments of the Australian residential market may actually benefit.
Second, one of the fastest growth markets for apartments is those without garages. There is very little street parking available so many residents are now living without a car – this is a significant change in traditional Australian living.
Third, living intensity is increasing as apartment dwellers are not only seeking apartments without garages but are also seeking a design that will allow them to rent one of the rooms to another party.
Finally, one of our big banks has suddenly decided to fund buyers of middle- or lower-priced Sydney apartments – a market all major banks have shunned for years.
Late last week, the biggest Australian apartment owner and builder Harry Triguboff and I had a conversation about the major changes happening in his Meriton apartment business. The Chinese are currently buying about half of all his apartments because they are much cheaper than equivalent apartments in major Chinese cities. And if the Australian dollar falls, dwellings will be even cheaper for the Chinese.
The Chinese are buying up big in Brisbane, but not in Surfers Paradise, partly explaining the sudden weakness of the Surfers market. Others tell me the Chinese are also very active in buying Melbourne residential property.
The Chinese sometimes buy apartments for their student children or for themselves to live in, but usually they remain landlords and rent the properties out. Most of the focus of Chinese investment in Australia is on the spectacular multi-billion dollar corporate moves which obscure what is happening at the grass roots level. ... "
Friday, November 20, 2009
Brisbane Development Update
Here is an update of that post. Times have changed!
- Trilogy Hotel - 192 apartments - being sold off the plan, but project on indefinite hold
- Trilogy Skyhome Apartments - 109 apartments - on indefinite hold
- Westin Residences (Empire Square) - 104 apartments - project abandoned.
- Waters Edge at West End - 220 apartments in the first 2 buildings to be released - earthworks have started
- Union at Milton - 213 residential apartments and 127 hotel rooms - status unknown
- French Quarter - about 70 apartments and 150 hotel rooms - project abandoned
- Hamilton Harbour - about 250 apartments - stages one and two being sold off-the-plan; construction finance not yet obtained
- Meriton Tower - 200 serviced apartments plus 200 residential apartments - now called Soleil, and all apartments -- no hotel or serviced apartment component.
- The Mill at Albion - likely to be cancelled
- Waterfront Newstead - 631 apartments - two buildings under construction
Current off-the-plan buildings being marketed and under construction
- Vision (400 apartments) - cancelled
- Iceworks at Paddington (47 apartments) - complete
- Parklands at Sherwood (82 apartments for sale now; 211 apartments planned in total) stages one and two complete
- Tennyson Reach (393 apartments) - two buildings complete, and a third building under construction
- SL8 (112 apartments) - complete
- Ciana Indooroopilly (132 apartments) - complete
- Portside Hamilton - three buildings complete, one building in off-the-plan sales
- Riverpoint West End (280 apartments) - under construction
- The Macrossan (42 apartments) - under construction
- SW1 (57 apartments) - complete
- Fresh Toowong (92 apartments) - complete
Infinity in Herschel Street
"HIGH-rise king Harry Triguboff, confident that the Brisbane and Gold Coast apartment markets are heading for a price surge, is to step up his quest for new development sites and hasten the launch of two major projects.
The veteran developer is putting sites in the Brisbane CBD and central Gold Coast 'under the microscope'.
He says he will bring forward the launch of a 77-level Brisbane tower, Infinity, by several months to the middle of 2010.
"Prices in Queensland will, I am sure, follow suit and that will happen sooner rather than later. They may not reach Sydney levels but the gap will close.
"That's because apartment supply levels in Brisbane and the Gold Coast are falling and, with the credit squeeze forcing many projects to be shelved or deferred, supply will get even tighter. That means rents will go up, with rent pressures being further increased by strong migration to south-east Queensland."
He ventured into the Brisbane market in 2007 when he acquired a site on the corner of Adelaide and Boundary streets in a move he described as 'the opening of a third development front'. Construction of Soleil, a 74-level tower which will be Brisbane's tallest apartment building, is under way on the site and due for completion by late 2011.
Meriton has sold 82 one, two and three-bedroom apartments in Soleil, where prices start at $310,000 and peak at $900,000.
New project, Infinity, is a 77-level tower on a $25 million Herschel Street site and will include 209 apartments, 422 serviced apartments, and office and retail space.
Mr Triguboff says he is looking closely at a third Brisbane development site -- one on which another major developer has shelved plans for a sizeable project."
SourceThursday, September 3, 2009
Questions
- What will happen to the inner city Brisbane apartment market if foreign students stop coming to Brisbane?
- When interest rates rise, will Brisbane apartment prices fall?
- Will Meriton build a building in Brisbane that is lesser quality than Devine? Is that possible?
- When will Felix have its river views blocked by development?
- Will rental returns to owners in Oaks buildings decrease this year?
- Will apartment prices in Brisbane continue to fall into 2010?
- When first home owners stop buying, will sellers who have not sold become desperate?
- Are the only investors buying at present the vultures and bottom-feeders?
Tuesday, July 28, 2009
Meriton Brisbane Update
From an email to me from Meriton:
"We do not have a time frame yet on when we will release our other development onto the market in Brisbane CBD, it maybe at the end of this year or early next year. The top 10 levels of Soleil are currently not for sale and will be kept by Meriton to lease out. Also we are now selling the apartments from level 2 to level 64 and there will not be any serviced apartments/hotel component in this building anymore. Meriton were going to keep levels 2 to level 30 and use these apartments for Meriton Serviced apartments but due to a lack of new development on the market, Meriton have now decided to sell all the residential apartments up to level 64."
Tuesday, March 10, 2009
Soleil Tower Price List
SELLING APARTMENTS OFF THE PLAN - Soliel Brisbane
Prices as at 9th Feb 2009
All apartments for sale start from level 31
One Bedroom apartments priced from $346,000
Two Bedroom apartments priced from $489,000
Two Bedroom plus study apartments from $529,000
Three Bedroom apartments priced from $774,000
Sunday, December 28, 2008
Predictions for 2009
At the beginning of 2008, I made a number of predictions in this post.
The predictions were mostly wrong!
The Brisbane apartment market did not grow significantly in 2008, and took a minor step backwards. At present, there are fewer buyers and more sellers. For some off-the-plan developments, no sales have been made for months. Second tier buildings and buildings with more than 200 apartments have not done well.
So I will be careful with my predictions for 2009:
I still believe that quality inner city apartments in Brisbane will do well in 2009. Provided there is no significant unemployment and provided that foreign students continue to come to Brisbane, vacancy rates will remain low.
In 2008, only four new inner city apartment buildings completed and settled. These were Evolution (over priced), M on Mary (which has mostly 1 bedroom apartments, and the developer is now in liquidation), Flow at West End and Iceworks at Paddington. In 2009, no new large inner city apartments will settle. Groundwork has started on Mertion's Soleil and the Trilogy Tower project, but these will no complete until 2012. Mirvac's Tennyson Reach project will settle two buildings in 2009, and FKP's SL8 at West End will also probably complete in 2009. So not much new stock.
So here are some predictions for 2009:
• The price of a good quality 2 bedroom 2 bathroom apartment in Brisbane, with views, will range from $780,000 to $850,000.
• The price of an average quality 2 bedroom 2 bathroom apartment in Brisbane will struggle to pass $550,000.
• Average rent for an unfurnished 2 bedroom apartment will rise to $600 per week.
• Investors will return to the market, as interest rates are falling and rents are rising.
• There will be more action in the inner suburbs than in the city. Prices for quality apartments in areas such as Indooroopilly and Toowong (where there is a train station and regional shopping, close to education facilities) will boom. By the end on 2008, it will be hard to find a good quality 2 bedroom apartment in these areas for less than $600,000.
• The Gold Coast apartment market will tank even more. The Sunshine Coast apartment market will remain steady.
Friday, November 14, 2008
Friday, November 7, 2008
Skyline Price Decreases
Monday, November 3, 2008
Trilogy or Soleil?
With Empire Square and Vision both gone, it seems that the only two large inner city high rise on the horizon are Trilogy Tower and Meriton's Soleil. Both are similar heights, in a similar location, and are apartments without balconies. Both will have hotel / serviced apartments. Both will complete about the same time. I hear that some people who were initially interested in Trilogy are now interested in Soleil. They are different products. Soleil is cheaper on a price per sqm basis, and probably a different level of quality.
Trilogy (Mirvac managed hotel apartments) (residential apartments not yet on sale so not part of this comparision)
- 16 apartments per floor, over 12 levels. 192 apartments in total
- 3 elevators
- 1 and 2 bedroom configurations
- sold furnished, if one signs up with Mirvac
- 6% rental guarantee
- on sale for more than 3 months
- about 60 to 70 reported as sold
- one bedroom size - 53 to 59 sqm, most without car parking
- two bedroom size - 70 to 89 sqm, with 1 car park
Level 35, East view - $530,000
Level 41, East view - $555,000
Level 41, River view - $570,000
2 bedrooms:
Level 35, river view - $890,000
Level 37, corner apartment, NE river view - $945,000
Level 37, corner apartment, SE river view - $940,000
Soleil - residential apartments
- 5 to 7 apartments per floor. 188 apartments on sale, with others being held by developer
- 3 elevators
- 1, 2 and 3 bedroom configurations
- sold unfurnished
- rental guarantee
- on sale for about 10 days
- less than 10 sold
- one bedroom size - 46 to 62 sqm, without car parking
- two bedroom size - 71 to 83 sqm, with 1 car park
Level 31, city view over Adelaide Street: $509,000
Level 40, views over All Hallows: $615,000
Level 42, views towards The Valley: $610,000
Level 42: views of River Place, and maybe Storey Bridge: $672,000
Level 47: views over Skyline towards the river: $755,000
Saturday, October 25, 2008
Soleil Tower Sales Launched Today
Meriton's Soleil, its first building in Brisbane, launches this weekend. (Completion of the building is planned for 2011 or 2012.)
It will be 74 levels, and 234 metres high, located at the end of Adelaide Street, behind Skyline and next door to Macrossan (which is under construction).
Floors 31 to 64 contain the apartments that Meriton will sell. Floors 65 to 74, comprising 42 apartments, are not for sale. Floors 30 and below will probably be 175 serviced apartments, owned and managed by Meriton. A total of 188 apartments will go on sale this weekend. They are 1 to 3 bedroom apartments. The 2 and 3 bed apartments have 2 bathrooms, and an underground carpark (up to 10 levels below Adelaide Street level).
On the higher floors (above level 41), there are five apartments per floor. There are 3 elevators for about 220 apartments, which is not a great ratio. (Admiralty Two, just nearby, has 191 apartments and six elevators.)
None of the apartments have balconies. Airconditioned, full length windows, and floor to ceiling tiles in the bathroom. Indoor pool and gym.
Here are some example two bed, two bath apartments:
Apartment 6001, level 60, views south down the Brisbane River over the top of Skyline, 79 sqm and 1 car park. Listed for sale at $823,000, which is about $10,400 a sqm.
Apartment 4205, level 42, limited views between Admiralty Quays and River Place, but good views over All Hallows, 83 sqm and 1 car park. Listed for sale at $672,000, which is just over $8,000 per sqm.
Apartment 5204, level 52, views over Admiralty Quays, 78 sqm and 1 carpark. Listed for sale at $688,000, which is just over $8,800 a sqm.
Compare existing, older stock of 2 and 3 bedroom apartments nearby:
- Admiralty Two, Level 4, direct riverfront, 103 sqm (including balconey), listed at $720,000
- Skyline, Level 27, river views, 102 sqm (including balconey), fully furnished, listed at $720,000
- Admiralty One, Level 18, direct riverfront, 3 bedrooms, 2 carparks, 150 sqm, listed at $880,000.
- Quay West, Level 16, river and park views, 120 sqm, listed at $850,000
- River Place, Level 13, direct riverfront, 116 sqm listed at $675,000 or $675,000
Overall, Soleil is in a great location, the floor plans seem to be well designed, and Meriton will deliver. Care should be taken when selecting, as some apartments will not have great views due to neighbouring buildings -- but some apartments should have great views (if you like heights!). The apartments are a little small for my liking, and I am not sure about lack of balconey.
Tuesday, October 21, 2008
Meriton Soleil Pricing
Apartments for Sale
Size | Parking | Priced from | Floorplans |
1 Bedroom | $348,000 | ||
2 Bedroom | 1 Car space | $503,000 | |
2 Bedroom + Study | 1 Car space | $587,000 | |
3 Bedroom | 1 Car space | $876,000 |