Mosaic Property Group has launched a collection of contemporary townhomes in Brisbane’s suburb of McDowall as it maintains its focus on quality suburban locations, as Ray White Special Projects lists neighbouring suburb Bridgeman Downs as an area in high demand for owner occupiers.
Havenwood will comprise 22 three-bedroom residences which combine modern sophistication with timeless appeal.
Mosaic Property Group managing director Brook Monahan said construction would begin on the Ponti Street project next month (May) with completion scheduled for April 2017.
Mr Monahan said Havenwood would be pitched at the owner occupier market.
“We have found that there is huge demand from end users for affordable homes in sought after suburbs on the city’s fringe,” he said.
“McDowall is an established and affluent area with parks, schools, shops and numerous public transport options just 12km from the CBD. Residents have proximity to the city while enjoying the lifestyle benefits and conveniences of a highly desirable suburb,” he said.
Ray White Special Projects (Qld) Property Analyst Will Lawler told The Urban Development Institute of Australia (UDIA) on May 12 that since mid-2014, McDowall’s neighbouring suburb of Bridgeman Downs has experienced a high level of demand from developers.
Lawler said this demand has seen an escalation in sale prices as a direct result of the end product predominantly comprising of high quality land subdivisions strongly focused towards owner occupiers, and that feedback from the enquiring parties was that they saw an opportunity to deliver projects with a high level of underlying demand but which at that time had a limited level of competing supply.
Looking ahead this year, Lawler told UDIA he believes the re-emergence of the owner occupiers as a buyer group will continue, which in turn will see high demand for sites which can deliver projects to this sector of the market.
Priced from $550,000, Havenwood’s residences will exude stylish functionality with expansive open living areas, high ceilings and large windows and doors to provide an abundance of natural light.
The townhomes will reflect clever design that ensures the indoor and private outdoor living spaces integrate and flow.
Each residence will have a superb stone-appointed kitchen, luxurious bathrooms, generous storage spaces and a two car side-by-side garage to ensure a comfortable and stylish lifestyle.
High ceilings and large windows will provide a feeling of spaciousness, while all bedrooms and living areas will be air-conditioned.
Havenwood is close to parkland reserves and shops and is a short drive to McDowall State School and Northside Christian College.
The development is just minutes from the mini-CBD of Chermside, a strong local employment node with Westfield Chermside, The Prince Charles hospital precinct and the Australia Trade Coast precinct providing employment opportunities across diverse industries.
Mosaic purchased the site in January, 2016 and DA was granted in March. The launch of Havenwood follows the completion this month (April) of three Mosaic projects at Indooroopilly, Alderley and Holland Park.
All three sold out well ahead of completion and contributed to the company doubling its workbook to more than $100 million for the 2016 financial year.
Originally Published On: http://www.theurbandeveloper.com/