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Final penthouse sells in Gallery House One as it nears completion

Final-penthouse-sells-in-Gallery-House-One-as-it-nears-completion-2
A Sunshine Coast couple have secured one of the final penthouse in the first building of Brookfield Residential Properties’ luxury Gallery House project on the Hamilton riverfront.
 
Andrew and Collette Mitrega undertook significant research before deciding to purchase the four-bedroom penthouse with stunning river and city views.
Final-penthouse-sells-in-Gallery-House-One-as-it-nears-completion
 
“We visited just about, if not every, new-build apartment project in Brisbane before purchasing at Gallery House,” said Mr Mitrega.
 
“It was all about the location and the opportunity of being able to see the city skyline, but not having to live in the CBD – it felt like the right choice to us.
 
“We did extensive due diligence, reviewing and researching all Brisbane developers, which gave us the confidence we needed to purchase an apartment developed by Brookfield Residential Properties’ and built by Multiplex.”
 
The 216sqm, four-bedroom penthouse features natural stone tiles, a spacious butler’s pantry, wine cabinet, freestanding bath, Miele appliances and amazing river and city views.
 
Mr Mitrega said the Gallery House penthouse gave them everything they needed in terms of space, location and amenity.
 
“Our new penthouse provides us with several bedrooms and one of the biggest balconies we have ever seen, so friends and family can be accommodated when they visit,” he said.
 
“When we decided to transition to apartment living, we thought ‘let’s make it easy and surround ourselves with convenience’.
 
“From Gallery House, in just two minutes we could be watching a movie, eating at numerous restaurants, enjoying Eat Street Markets or picking up a bottle of wine.
 
“Then there’s the added convenience of no maintenance. I’m looking forward to disposing of my lawnmower, ladder and pool vacuum, and having the luxury of locking the door and going away for several weeks without the worry.”
 
Mr Mitrega said an unexpected bonus of Gallery House was the neighbourhood feel.
 
“We have already met and spoken with several of our prospective neighbours and they all want to be part of a social network within the project.” he said.
 
Brookfield Residential Properties’ Managing Director Lee Butterworth said while all penthouses in the first building were sold, some remained in Gallery House Two for those looking for the ultimate in luxury living.
 
“Gallery House will become an address synonymous with style and luxury and its residents will enjoy an enviable riverfront lifestyle with everything at their fingertips,” he said.
 
“Our buyers have been predominately locals looking for waterfront property without the maintenance, who know the benefits of living in this location with its direct access to retail, restaurants, recreation and green spaces.
 
“The three and four-bedroom apartments and penthouses in Gallery House are bigger than many homes, so buyers don’t feel like they are compromising on space.
 
“Instead, they are upgrading to a brand new apartment with all the modern luxuries and lifestyle amenities at their doorstep.”
 
Sales in Gallery House have reached $224 million and construction is just weeks from completion on the first building.
 
Gallery House Two is also under construction with completion anticipated for the end of this year (2019).
 
The first onsite displays will open at Gallery House mid August, showcasing views of the Brisbane River and across the city skyline.
Final-penthouse-sells-in-Gallery-House-One-as-it-nears-completion-3
 
Gallery House is located six kilometres from the CBD with easy access to the CityCat, airports and major arterial roads.
 
Gallery House has a mix of two and three bedroom apartments, ‘sky homes’ and penthouses for sale ranging from $575,000 to $2.795 million.
 
For more information on Gallery House visit the Sales & Display Centre at Portside Wharf or www.gallery-house.com.au

ENDS

For media enquiries contact Promedia’s Karla Costello – 07 5593 2011 or karla@promedia.com.au

Brookfield Asset Management
Brookfield Asset Management Inc. is a leading global alternative asset manager with over $285 billion in assets under management. The company has more than a 100-year history of owning and operating assets with a focus on real estate, renewable power, infrastructure and private equity. Brookfield offers a range of public and private investment products and services, and is co-listed on the New York, Toronto and Euronext stock exchanges under the symbol BAM, BAM.A and BAMA, respectively. For more information, please visit our website at www.brookfield.com.

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Developments

Habitat Development Group launch The Corso apartments in the heart of Maroochydore

The Corso apartments

The local Sunshine Coast developer Habitat Development Group has launched its latest Maroochydore, Sunshine Coast project.

The new $94 million development The Corso will bring 158 apartments to the heart of the growing Sunshine Coast hub at 20 South Sea Islander Way.

Designed by Sunshine Coast-based K Architecture, tower one comprises 116 apartments including five penthouses, while tower two will home 42 apartments and 715 sqm of ground level retail.

The Corso is Habitat’s second Maroochydore project, a rare opportunity as the only residential apartment building within the new Maroochydore City Centre that’s currently for sale.

Following an open plan layout, the one, two and three-bedroom apartments feature stainless steel appliances, 40mm stone benchtops and kitchen islands, as well as floating vanities in the bathroom.

Along with ocean and hinterland views from the apartments, residents will also benefit from extensive onsite amenity, which includes a large resort-style pool, integrated barbecue facilities, a vast private garden terrace and an exclusive resident’s dining room and lounge.  

Construction is expected to kick off in June, with completion slated for mid 2024.

Habitat Development Group sales agent Conor Cochrane said they’ve heard from every kind of buyer since the project launched.

“The response from the market since launching has been phenomenal with an overwhelming number of enquiries resulting in sales across all product types from 1 bed units right through to Premier Penthouse Units at over $2 million,” Cochrane said.

“We’re excited to be commencing construction at The Corso in the comings weeks, further strengthening our commitment to the Sunshine Coast and supporting local trades and suppliers.

About the developer

Founded in 2005, Habitat is a leading Sunshine Coast- based property development company that specialises in the residential sector.

The group previously sold out their $83 million Maroochydore project Market Lane, with The Corso expected to follow suite.  

The team are hoping to have development approval for their 200-apartment St Claire development in Birtinya in the next few months.

 

 

Article source: www.urban.com.au

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Property Investment Advice

Everyone’s a winner: Property market where it’s almost impossible for sellers to lose

Property market where it's almost impossible for sellers to lose

Home sellers were delivered huge profits of a median $319,000 in the December quarter, according to CoreLogic.

The Pain and Gain survey showed that coastal regions were more likely to generate profits and on the Sunshine Coast it was almost impossible to lose with 99.5 per cent of sales achieving a nominal gain.

Nationally the median holding period for profit-making resales was 9.2 years and while properties held for more than 30 years had the highest total median return ($770,000), properties held for two years or less had the highest nominal gain per year of $150,500.

Regional Australia had a higher rate of profit than Australia’s combined capitals at 94 per cent versus 93.7 per cent, respectively.

CoreLogic’s head of research Eliza Owen Investors said investors had a lower incidence of profitability (91.4 per cent) than owner occupier sellers (96.7 per cent). This was likely to be because of the higher incidence of unit ownership among investors.

The report analysed approximately 133,000 resales of property that occurred over the course of the December 2021 quarter, a significant uplift from the 99,000 dwelling resale transactions during the September quarter, which coincided with lockdown restrictions in many parts of the country.

The national median nominal gain was $319,000 with total resale profits of $38 billion over the December quarter. The median loss was $34,000.

 

Article source: inqld.com.au

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Developments

Plans for 13-Storey Tower Filed for Sunshine Coast

Plans for 13-Storey Tower Filed

Development applications for the Sunshine Coast’s new greenfield $2-billion CBD are continuing to flood in, with a mixed-use tower on a 3500sq m site on its northern edge the latest.

The development will form part of Sunshine Coast Council-owned SunCentral’s new 53ha central business district—one of Queensland’s largest urban regeneration projects—in Maroochydore.

The 13-storey development has been put forward by Capital 22, a private entity headed by commercial property lawyer and SunCentral secretary John Gallagher.

The prominent corner site is made up of two lots purchased for a combined $6.5 million; 132 and 134-136 Aerodrome Road.

The site is currently occupied by two retail centres—Neighbours Aid and Salvation Army Family Store—and is next to Bob Jane T-Marts.

Capital 22’s proposed project, designed by Cottee Parker, will include three levels of office space and parking for 250 cars across the building’s three-level podium as well as a communal area with a pool and terrace on the fifth level.

It will offer 100 apartments in two- and three-bedroom configurations which the developer plans to release as a mix of short- and long-term accommodation.

Sunshine Coast’s new central business district, formerly the Horton Park Golf Club, has been transforming rapidly since council paid $42 million for the sprawling site in 2015.

The under construction CBD will eventually offer 68,000sq m of commercial space and 25,900sq m of retail floorspace along with 1400 residential apartments across a number of precincts.

It will also feature a 250-key hotel, 40,000sq m of retail and a new entertainment space.

New teaching and accommodation facilities for Sunshine Coast University are also part of the master-planned CBD with John Holland overseeing the $200-million construction contract.

The city centre’s first buildings include an eight-storey commercial property by local developer Evans Long and a two-tower, 150-unit residential complex, Market Lane Residences, by Brisbane’s Habitat Development Group.

The new nine-storey Sunshine Coast Regional Council headquarters building is also well advanced and being finalised by builder McNab.

Late last year, Barwon Investment Partners put forward plans for a $100-million, 10-storey surgical hospital on Mundoo Boulevard.

Billionaire property mogul Lang Walker’s development firm Walker Corporation has filed plans for a 15-storey building at 50 First Avenue, designed for ASX-listed companies, as well as government, banking, insurance and technology sector tenants.

The project, which Walker claimed was “the single most sophisticated contribution to the commercial office market” on the Sunshine Coast, has been designed by Cox Architecture and will hold a 5-Star Green Star Rating.

Walker also has plans for a nine-storey car parking, retail and dining mid-rise development at 110 Market Street

Prominent Sunshine Coast developer Mal Pratt is planning to build a mixed-use “groundscraper” across a 5500sq m site at 36-46 Aerodrome Road and 44-48 Parker Street.

Meanwhile, Pro-Invest Group is adding motel and retail space to the CBD in a bid to capitalise on the growing number of corporate professionals living in and visiting the region.

Its planned Holiday Inn Express and Suites on First Ave will have 180 guest rooms, a rooftop swimming pool, bar and dining venue along with parking, retailers and conference facilities.

 

 

Article source: www.theurbandeveloper.com

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