Pointcorp is to test the post-Global Financial Crisis market for premium absolute riverfront apartments in Brisbane, with the launch of its $100 million Vida development at West End.
Vida is one of the first major new developments in the city to be released since 2008 that specifically targets owner-occupiers, with the majority of projects in the wake of the GFC designed for the investor market.
It will feature 148 one, two and three bedroom apartments, and premium five bedroom-plus study penthouses, each about 30 per cent larger than the average new apartment in Brisbane, across two 12-level buildings on Buchanan Street.
Pointcorp director Chris Vitale said Vida was the closest new riverfront development to the CBD, just two kilometres away, and had been designed to take full advantage of its position, with about 50 per cent of the apartments featuring river views that can never be built out.
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“This is a true absolute riverfront position and the apartments will feature the high level of fittings, finishes and generous floor plans to do it justice,” he said.
“Since the GFC, most new developments have been designed with smaller one and two bedroom apartments to suit investors, the most active sector in recent years, but this has starved the market of apartments with the space required by owner-occupiers.
“As a result, we believe there is strong pent-up demand for this style of apartment, particularly in such a prime location so close to the Brisbane CBD, and Vida has been designed to fill this void.”
A display suite, which includes an example two bedroom apartment, is now open.
Vida is the latest project to be released by Pointcorp, a Queensland-based developer with a $336 million pipeline of developments underway in Brisbane, Mackay and Townsville.
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Designed by Cottee Parker, each of the two buildings will feature a roof top pool, gymnasium and recreational area, with four ground floor retail spaces that will form an open air plaza, connecting Buchanan Street with the Brisbane River and activating the street level precinct.
Pointcorp sales and marketing manager Sam Patterson said the apartments represented significant value, considering their position and design, starting from just $365,000 for one bedroom Buchanan Street facing apartments and $460,000 for riverfront.
Two bedroom apartments start from $509,000 or $660,000 for those with river views, while the eight three bedroom apartments are priced from $1.2 million and the four ultra luxury, two-storey penthouses, each featuring river views, start from $3 million.
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The apartments offer generous floor plans, with one bedroom apartments averaging 70sqm, two bedrooms 93sqm, two bedroom-plus study apartments 119sqm, three bedroom apartments 163sqm and the penthouses 456sqm, with one to four car parking spaces.
“We have incorporated floor plans to suit a diverse range of people, but predominately we are expecting interest from those looking to downsize from the family home and professionals wanting a low maintenance property close to work,” said Mr Patterson.
“The apartments have their own unique character, with cutting-edge interior design elements including exposed concrete ceilings, track lighting and timber flooring, while the exterior of Vida will be iconic, with a green wall and fig leaf screen.
“It offers the rare chance to live directly on the river, so close to the CBD, and in eclectic West End, with its chic bars, cafes and restaurants at the doorstep, meaning residents will have easy access to employment and plenty of options when it comes to their down time.
“Along with everything in West End, the arts precinct at South Brisbane and the mix of boutiques, shops and bars in the city are all just minutes away.”
The apartments include an array of top shelf fittings and finishes including 2.7 metre ceiling heights, floor to ceiling glass, ducted air-conditioning, frameless glass balustrades and shower screens, American Oak timber flooring, bespoke carpet tiles and Marc Newson tapware.
Kitchens will feature 70mm stone and stainless steel benchtops, with one and two bedroom apartments including 70cm Miele gas appliances and three bedroom apartments and penthouses 90cm Gaggenau gas appliances.
The display suite measures 250sqm and along with an example two bedroom apartment, includes interactive screens allowing people to compare floor plans, views, colour schemes and finishes.
Located at 101 Riverside Drive, with on-site carparking, it is open from 10am daily. For further information, call 1800 773 779 or visit www.vidawestend.com.au