Parklands at Sherwood

Pradella's Parklands at Sherwood development, stages 1 and 2, are reported to be more than 50% sold, with settlement of Stage 1 planned for the end of this year.

Newsletter.

Bardon Parklands - 104 apartments planned

First, there was Roma Street Parklands. Then Sherwood Parklands. My guess is that next, the Pradella Construction Group will launch Bardon Parklands. Pradella owns the Bardon Conference Centre.

"Brisbane City Council is assessing an application by the Pradella Group to rezone the 3.4ha site from a community purpose and conservation area for redevelopment. The proposal, lodged with the council in September 2006, features four three-storey buildings to house 104 apartments and 20 attached units, with 248 car parks."

See

http://mountcoot-tha.greens.org.au/media-centre/interviews/centre-rezone-ask-for-units

http://www.thebardoncentre.com.au/assets/bardon-map.pdf

http://www.pradella.com.au/web/pdf/news_2007_issue1.pdf

http://www.pradella.com.au/content/news/press_display.asp?id=141

Brisbane Apartments in the Suburbs

Sometimes, apartments in the suburbs provide better value than city apartments.

If in a good location and near transport, there is a greater pool of possible residents -- students, young city workers, retired couples, single mothers/fathers with one or two children, widows and the like. In other words, people who want convenience, but not the problems with looking after a house; people who want safety and facilities, but not a city apartment.

The areas of Brisbane that I think will have good capital growth over the next five years are:

• St Lucia -- near the city, Toowong and the University of Queensland. Some apartments have river and city views.
• Indooroopilly -- many facilities, on a main train line, near excellent schools and the University of Queensland. Some apartments have river and city views.
• Toowong -- close to the city, with facilities at Toowong Village, and a transport hub.
• Taringa (between Toowong and Indooroopilly) and on a train line
• Sherwood -- a nice village atmosphere, only 12 km from the city, and on a train line. Near good parks and schools.

People often say West End will be the next hot spot in Brisbane. My view is that the facilities are not as good as the above. I prefer the Southbank area to West End, as you have city and river views and face north. Most of West End faces West (e.g., see the view here.)

There are big plans for Indooroopilly and Toowong redevelopments. This will drive up prices of existing quality apartments.

But you have to be careful, as there are poor quality apartments or apartments in poor locations (i.e., on major roads) in these areas.

I recommend the following apartments and off-the-plan developments.

Off-the-plan

• Fresh Apartments in Toowong -- a resort style complex, with two pools (completion in early 2008)
  
• Ciana at Indooroopilly -- includes pool, restaurant and club (completion in late 2008)
  
• Parklands at Sherwood (completion in 2009) currently in pre-sales, includes pool
  

Typically, a two bedroom two bathroom apartment in these complexes is about $500,000, and will be about 85 sqm internal, and (in addition) a large balcony of about 30 sqm and airconditioned.

Example existing complexes

• Riva at Indooroopilly - river views, pool (which are always fully rented)
  
• Ikon at Indooroopilly, on Station Road, which is the subject of about 3 or 4 proposed new developments
  
• Encore at Toowong pool, close to excellent park (which are always fully rented)