Construction commences on Maasra Apartments in Coorparoo

As construction is now underway, Maasra Apartments qualifies for the $25,000 HomeBuilder Grant, available to eligible individuals and couples who intend to own and occupy an apartment they purchase off the plan before the December 31 deadline.

With Maasra Apartments starting at $399,000, a number of one and two-bedroom apartments also meet the criteria for the First Home Owners’ Grant of $15,000 plus an exemption on stamp duty.

Taking into account the HomeBuilder and First Home Owners’ Grants, eligible first home buyers can access up to $40,000 to assist in buying an apartment at Maasra.

Being developed by Karam Group, construction on the Maasra eight-level, 102 luxury apartment building began in September by one of Brisbane’s leading large project builders Hindmarsh Construction.

Karam Group Director Anthony Karam said he was pleased to announce Hindmarsh Construction as the appointed builder of Maasra Apartments following a competitive tender process.

“As part of our due diligence we visited and evaluated Hindmarsh’s projects and were particularly impressed with the company’s outstanding craftsmanship and commitment to delivering the luxury design we have planned for Maasra,” he said.

“The quality of completed projects undertaken by Hindmarsh gives us the confidence that they will deliver Maasra apartments on time and to the high standards expected by Karam Group and the Maasra family.”

With construction now underway, Maasra is appealing to young professionals seeking affordable apartments in the highly sought after inner-city suburb of Coorparoo with transport infrastructure and lifestyle offerings on its doorstep.

With the HomeBuilder and First Home Owners’ Grants totalling $40,000 on the table, Maasra Apartments is perfectly positioned for eligible young professionals wanting to buy their first home.

The Federal Government has also extended the First Home Loan Deposit Scheme to a further 10,000 first home buyers who have only saved a 5% deposit, guaranteeing their mortgages to help them buy a property worth up to $650,000 sooner without paying lenders mortgage insurance premiums.

The HomeBuilder Grant of $25,000 offers financial support to eligible buyers looking at purchasing a brand new apartment under $750,000.

Maasra Apartments Marketing Manager and TOTAL Property Group Managing Director Adrian Parsons said the luxury building in the heart of Coorparoo was positioned for growth and ideal for home buyers looking at taking advantage of the government grants available.

“Demand for Brisbane property is continuing to grow, generated by a number of factors including record low interest rates, the government stimulus grants, relaxed lending criteria and the fact people are deciding to take advantage of flexible working arrangements to live in their chosen location,” he said.

“Now that construction has started, Maasra is well positioned for eligible home buyers wanting to benefit from the government grants to buy an apartment within the price range of $399,000 to $750,000.

“Home buyers have until December 31 to purchase a prime apartment at Maasra in Brisbane’s highly desirable inner-city suburb of Coorparoo and take advantage of the $25,000 HomeBuilder Grant, with eligible first home buyers turning that into $40,000 in grants.

“The Brisbane property market is currently in its prime for first home buyers who may also be eligible for a stamp duty exemption, which is further savings in the purchase of their entry level first home.

“Our team is assisting eligible first home buyers to navigate their way through the process of obtaining the grants available to them so they can purchase their first home in this remarkable building.

“Karam Group’s vision for this prime site is beginning to be revealed now that construction has started, and we have unwavering confidence in Hindmarsh Construction to deliver on Maasra’s promise of prestige style.”

The strong synergy between Karam Group and Hindmarsh Construction provides certainty for Maasra residents, with the response overwhelmingly positive.

Hindmarsh Construction Australia (Qld) Chief Executive Officer Rowan Hindmarsh said his team was proud to be awarded the head contract for the construction of Maasra Apartments comprising 102 luxury apartments.

“We are well known for delivering high quality projects on time and believe that our contribution will enhance this outstanding development,” he said.

Designed by award-winning Brisbane architect firm HAL Architects to reflect a sense of community and place, Maasra Apartments features a podium recreational space with multiple resort-style entertainment areas.

Amenities include a 25-metre pool with timber decking, sun beds, beautifully landscaped surrounds, a residents’ lounge, a gymnasium, boutique retail on the ground floor and commercial office space on level one.

Only a limited number of city view apartments remain at Maasra Apartments, which is just 4km from Brisbane City, centrally located in Coorparoo on the corner of St Leonards Street and Holdsworth Street, with cafés, restaurants, cinemas and boutique shops within walking distance, as well as easy access to public transport facilities and road networks.