Showing posts with label south point. Show all posts
Showing posts with label south point. Show all posts

Sunday, June 1, 2014

Place Apartment Report

Place has published their "Current Market Report - Inner Brisbane Apartments - March Quarter 2014".  Link is here.

The report focuses on new, off-the-plan apartment developments, and is worth reading.  Many people say that there soon will be an oversupply of apartments in Brisbane.  At present, it is taking longer to rent out apartments, so maybe the glut is already here.  Maybe there will be an oversupply of smaller rental apartments and an undersupply of apartments for owner-occupiers?

Some highlights from the report:
  • The three months to March 2014 recorded 639 unconditional sales. Although this is not to the same level of transactions as the record breaking December Quarter prior, this is still almost twice the 10 year average of 326 unconditional sales per quarter.
  • A weighted average of $710,524 was recorded during the March 2014 quarter. This is a figure 30% above the December period previously and representative of a higher level of owner occupier sales recorded in Inner Brisbane as opposed to any genuine price growth.
  • The increase in local buyers has seen 52% of transactions recorded as two bedroom configurations.
  • Despite this weighted average price rise, the 12 month rolling average price remains under $600,000, reflecting an overall longer term demand for affordable inner city apartments.
  • One bedroom sales represented a further 40% of the quarter’s transactions, again the bulk of which transacted within the $350,000 and $450,000 price point.
  • The distribution by price point was more evenly spread through the first quarter of 2014. The $350,000 to $450,000 price point still however retained the market share with 26% of the quarter’s sales.
  • There were 1,225 apartments remaining for sale in Inner Brisbane at the end of the March 2014 quarter – The lowest level in 4 years.
  • Overall, two bedroom apartments maintain the majority of current supply within Brisbane equating to 58% of the apartments remaining on the market. One bedroom apartments total only 29% of the available apartments for sale, and 3 beds represent only 9%.
  • There were six new projects which recorded unconditional sales during the March 2014 quarter. These included Abian (CBD), Proximity (Hamilton), 38 High Street (Toowong).
  • The best performing projects in Brisbane during the quarter were Abian (108 transactions), Broadway on Anne (58 transactions), Southpoint (46 transactions), Proximity (45 transactions), and 38 High Street (44 transactions).

Friday, August 16, 2013

Guaranteed Losses if you pay too much

If you pay too much to a developer when buying off the plan, no matter how good the location, and how good the development, you will loose money.  Often, developers will show you beautiful brochures of the facilities in the location (all true) and tell you rents are higher in this location than others (again true) and that it is a popular, closely held area (true again), and then try to sell you an apartment that is 20% above market value.  If this happens, you will likely suffer a capital loss.  See this story for example about capital losses in a bullet proof area.  Investors looking at SouthPoint at SouthBank, which is a brilliant location and looks to be a quality development, should take notice of this warning, particularly when prices are more than $10,000 a square metre.

Monday, July 22, 2013

SouthPoint

After delays and false starts, it now appears that SouthPoint at SouthBank is ready for a sales launch.  See this site and this site, for example.  The development is on Grey Street, opposite the Galleria and next to the train line, on what has been called the Collins Place site.

According to sales agents, the SouthPoint building has three sections, arranged vertically.  The central section will be an Emporium Hotel, with residential apartment sections on either side (called the North and South cores).  On the rooftop will be a 25m wet edge infinity pool, a day spa with massage rooms, hairdressing and manicure options, a roof top bar and gymnasium.

From what I have been told, in the South core, the one bedroom apartments range from $425,000 with a Southern aspect and no car parking, to $560,000 for the top level facing the river with a car park.  The one bedroom apartments are all less than 60 sqm in size.  Two bedroom apartments in the South core start at $645,000 for a lower level rear apartment facing the railway line to around $840,000 for the top level river and city view apartment.  These two bedroom apartments are all less than 80 sqm internal size, so are much smaller than similar apartments in Saville (Mantra) SouthBank.  Compare also apartments in Quay West, where one bedroom one car apartments are about 73 sqm, and sell for about $450,000 with river views and furniture.

In the North core, there are three bedroom apartments that range between $1.7million and $3.8 million. These appear to be large apartments.

Apartments on the rear of the building face West, looking over the train line.  There are surrounding buildings, so to get a good view, you will want to be on a higher floor.

This development is by Anthony John Group, who is doing lower priced apartments in Cannon Hill.  Their apartments in the Valley Emporium development were not, in my opinion, high quality apartments.  It seems that SouthPoint will have three levels of finishes, so care must be taken to ensure that you understand what level of finish will apply to each apartment.


Sunday, December 30, 2012

South Point at South Bank

Anthony Johns Group appears to be pushing ahead with its Grey Street development at South Bank.  At one point, it seemed that Suncorp would move their headquarters there, but that fell through.  There has also been a SouthPoint website, but that now diverts to a new teaser website:  www.lastpieceofsouthbank.com

Wednesday, May 9, 2012

Southpoint Dead?

It is rumoured that Suncorp has pulled out of the Southpoint deal, because the developer could not get finance.
See here and here.

Suncorp staff were told that the developer cannot get funding, so Suncorp have withdrawn from the deal.

Monday, November 28, 2011

Suncorp Selects Southpoint as New HQ?

There are rumours going around that Suncorp has select Southpoint at South Bank as its new headquarters.  Construction has not even started, so it will be a long way off.  (The other option Suncorp was looking at was 480 Queen St, the site of the proposed but abandoned Trilogy Tower.)  I suspect that this will add to the value of apartments in South Bank and some in South Brisbane.

Update:  Tuesday 29 November:  Rumour confirmed as correct.

Wednesday, August 24, 2011

Southpoint at South Bank

The Australian Financial Review had an article yesterday about developer Anthony Jones Group. Most of the story was about the Emporium Hotel, built on the old bus depot in The Valley. Despite its poor location in the middle of two major roads and a car park, its glitzy fitout has proved popular.

The story mentions Anthony Jones Group's proposed development at South Bank, called Southpoint, that has been promised for a number of years now. It is said to be at 17 storey retail and office block, 458 apartments, and a 180 room Emporium hotel (that no doubt will have over the top decor too.) It was reported that early works started last year, but there has not been much happening on the site this year.

Suncorp supposedly has short listed Southpoint for its new headquarters.

Saturday, December 18, 2010

South Point


The development, which incorporates the Heritage listed Collins Place building, will include three separate structures on the 0.85 hectare parcel of land.

A 20-storey building on the corner of Grey Street and Tribune Street will include a five-star hotel and 210 apartments.

The Emporium Hotel, Southpoint will include 132 rooms as well as a day spa, gymnasium, boutique conferencing facilities, restaurants and bars.

A 17-storey building at the centre of the site will consist of 2 storeys of retail including a full-range supermarket and 15 storeys of commercial offices. The upper level of the retail component will offer direct connection to the rail platform.

A third 24-storey building, on the corner of Vulture and Grey Streets will comprise 248 one, two and three bedroom apartments.

The development will be constructed in separate stages to meet the anticipated early demand for both the residential and commercial components.

South Point will bring a diverse range of new audiences to South Bank for both work and play and it will help to cement Grey Street as one of the great streets in Brisbane.

See South Bank newsletter.

Saturday, November 13, 2010

SouthPoint Coming Soon?


Will the SouthPoint apartment and hotel development at SouthBank ever get started? Reported to start later this year. (But they have said that before!) It is a project of the Anthony John Group. Designed by Jackson Teece.

Monday, April 19, 2010

SouthPoint at South Bank

"A premium central city location opposite the CBD Southbank is Brisbanes premier recreation and dining precinct, Southpoint is the last available site in Southbank and will provide a total of 86,433 square metres of GFA in a mixed use development of exceptional design standard.

Drawing on the success of the Emporium mixed use development by the same group, Southpoint will take the recipe further because of its exceptional location and the manner in which it will integrate into the area’s rail and bus interchange. This will not only provide amenity and market value for Southpoint’s residents and business tenants but will also stimulate demand for retail because of the high volume of commuter traffic.

Consisting primarily of three towers providing office, residential and genuine 6 star hotel standard accommodation, all with retail below, the striking architecture of Southpoint will make it a visual and commercial landmark in Australia’s fastest growing city."

Thursday, June 18, 2009

South Point at South Bank - New Website

South Point has a new website.

"Take a moment to appreciate the journey that a stroll through a palatial Southpoint residence offers. Once inside, the walls ascend forever and the warm, opulent timber floor implores you to remove your shoes. There are vast living areas, lavish dining rooms and king-sized bedrooms. Lean on the private bar, recline near the classic fireplace, and discover the divine natural stone top kitchen that forms a living space all of its own. There's even the rare luxury of a powder room. This is just a sample of what gives Southpoint Residences their unique difference - there is so much more to be experienced."

Map and Transport

Sunday, November 9, 2008

South Point and Buranda

"ARCHITECT-developer Tony John is willing to bet $1 billion that the run-down suburb of Buranda, in Brisbane's inner south, will be the next New Farm.Mr John has a scheme for a massive residential, retail and commercial project that can only be called immensely ambitious.

He is willing to bet that Brisbane people will be willing to pay about $500,000 for an entry-level one-bedroom apartment measuring less than than 50sq m. Big enough to swing a cat - just. He's willing to bet that they will want to live right next to the truck-laden Logan Rd, over a train line and right next to a busway in a suburb that looks like it has had too much sun and has never been known for urban chic. He's also betting that the housing affordability dilemma will mean people will question if they can afford a home and a car.

But just to show how strongly he feels about Buranda, the man who developed the oh-so-swish Emporium development in Fortitude Valley says he is less confident about his separate plans for 56 luxury apartments at South Bank projected to cost between $2 million and $10 million each. "I would not like to make that call right now," he said...."
See Courier Mail

Monday, September 29, 2008

SouthPoint Residences at SouthBank

Here is an interesting drawing, showing the proposed building at Southbank, with the existing Collins Place building left standing.

Southpointresidences

Tuesday, July 15, 2008

South Point at South Bank - prerelease

"The soon to be released Southpoint Residences will be the finest and most exclusive of Brisbane’s property market. Situated on South Bank’s last development site, the north-east aspect ensures that your views of the city and the river set you ahead of the rest.

With fifty-six palatial residences perched on top of the next acclaimed Emporium Hotel, you will not only live in the style that you deserve, you will receive six-star treatment morning, noon and night.

These truly unique ‘homes’ will provide spacious living with only the very best of fixtures and finishes. From the ‘his’ and ‘her’ robes to the classic fireplace and the private bar each element has been carefully selected with your comfort in mind.

Southpoint will be delivered by the Developers who brought you the Emporium Precinct; the Anthony John Groups’ attention to detail achieves quality and a lasting sense of style."
Renders here and here

Saturday, June 28, 2008

SouthPoint at SouthBank

"The Queensland Government has given the nod for early works to start on a $650 million luxury hotel and residential development next to the South Bank railway station.

It will include restaurants and retail spaces as well as the hotel, cinema and 56 residential apartments."

See Brisbane Times

Southpoint

Monday, April 21, 2008

South Point at South Bank

Apartments and hotel rooms, at South Bank -- will be developed on the Collins Place site in Grey Street behind the Galleria.

Video

South Bank announcement

Photos

News report