Reinforcing the sustained demand for quality apartments in Woolloongabba’s $600m South City Square regeneration precinct, sales of the project’s latest building, New Deshon, have reached 90 percent sold after just six weeks on market.
The second in a series of distinctive buildings within the new residential, retail and lifestyle destination, ‘South City Square’, the news of New Deshon’s success follows the record sell out of the initial stage of the project ‘One South City’, late last year.
Due to the sustained demand for the precinct since it was launched in 2014 from a mix of local owner occupiers and astute investors, developers Perri Projects and Pellicano have announced they will now fast-track the release of the third stage, titled The Mews, to May this year.
Developers have attributed the unbelievable sales success to the unique positioning of the project as a true mixed-use lifestyle development so close to the CBD, and the commitment from the developers to their vision to life.
“Our vision for South City Square is to create a place to live, work and play – it will be a major hub for activity combining visionary urban design and a perfect location. The successful and incredibly fast sales of the offerings in New Deshon is testament to the acceptance of this vision in the marketplace,” said Pellicano’s Queensland Development Manager, Michael Kent.
“We have a strong history of delivering unique spaces that cater for the needs of our buyers, and we believe the sell-out of South City Square’s first two stages reinforce our commitment to both Woolloongabba and this project.
“One of the key points of difference – and one that really resonates with buyers – is the fact that as developers we will be committed to the precinct long-term, as we will be retaining the ownership rights to much of the retail precinct.
“I think this provides a sense assurance to our buyers that we are on the journey with them and we are both invested in the future of the project,” he said.
No stranger to the location, Pellicano has previously developed a further 350 apartments within the Woolloongabba locale and will be building as well as jointly developing the South City Square precinct, reinforcing the company’s commitment both to the area and the project itself.
Michael Kent said the project had attracted a diverse mix of purchasers since its initial launch last year.
“After the sell-out success of the project’s first stage late last year, we had an influx of purchasers who missed out on the first building register their interest for the impending launch of the second stage.
“We then had to fast-track the launch of New Deshon to satisfy this pent-up demand, and the response has been incredible from buyers who are fast recognising the value of high-end apartment living in Woolloongabba.
“Due to the shifting demographic demand we also reconfigured the floor plates in New Deshon to create larger, two and three bedroom offerings, to reflect the swathe of family buyers and downsizers who are now choosing apartment living over more traditional, stand-alone homes.
“In response to the incredible demand for these luxury apartments, we are now looking to fast track the third stage of the precinct and will seek to launch The Mews to the market sometime in the next month.
“Woolloongabba is one of the fastest-growing suburbs in Brisbane, so it’s certainly no surprise that we’ve seen such a diverse demographic mix throughout the first two stages, with everyone from first home buyers and professional couples through to larger families and local investors keen to capitalise on what is the area’s largest regeneration precinct,” said Michael.
Nestled within the visionary mixed-use urban regeneration precinct, future residents who were lucky enough to secure a slice of New Deshon will be spoilt for choice when it comes to luxury lifestyle opportunities, thanks to the precinct’s dedication to first-class retail, fine dining and innovative cafés, set around a large landscaped central urban square.
Once complete, residents will also enjoy immediate access to a full-line underground supermarket as well as an 8-theatre boutique cinema and a 144-room luxury 5-star hotel.
Perri Projects’ Managing Director, David Scalzo, said that the sales success of New Deshon proves the demand for apartment style living that incorporates an element of indulgence without compromising the existing character of the suburb.
“Woolloongabba is such a vibrant area rich in industrial heritage and charm; it’s one of Brisbane’s most exciting growth hot-spots and is fast becoming an address of distinction.
“South City Square will contribute to the area’s expansion and will be ideally located just a stone’s throw away from the many public transport options and established retail and café culture that Woolloongabba is becoming famous for.
“Our vision for South City Square is to create a precinct that will transform the area and become a new destination for south Brisbane,” David said.
The South City Square onsite display suite is open 7 days by appointment. Interested parties can call 1300 788 122 to arrange a private appointment.