Luxury apartments at 33 Manning St, Milton, in Brisbane‘s inner-west, have reached a considerable milestone selling 50 per cent of the residential towers’ 130 apartments since launching in February 2023.
Lachlan Thompson, CEO of Goldfields, said he was thrilled to see the project resonate so well with Brisbane locals in just four months but isn’t surprised with the result.
“Undersupply of housing across most of the city, combined with explosive population growth throughout 2021 and 2022, laid the foundation for a robust market that continues to outperform many other cities across the country,” Mr Thompson said.
Recent federal government data from the ‘Centre for Population’ Queenslands population is set to grow by 16% by the 2032 Olympic and Paralympic Games.
According to the data, Greater Brisbane is expected to grow faster than the rest of Queensland.
Mr Thompson added Queensland is currently leading the way with population growth post-pandemic and in the decade leading up to the 2032 Olympic and Paralympic Games.
“Although most of the sold apartments have been snapped up by locals who already know and love the area, we‘re expecting more interest from interstate and foreign buyers in the future”, he said.
Renowned architect, Rothelowman‘s design pays homage to the classic Queenslander by offering residents the scale and function of the traditional Sunshine State home, aligned to Brisbane’s subtropical climate and transformed for contemporary high-rise living.
The building‘s penthouse collection features eight three-bedroom sky homes featuring a master-bedroom suite, two generous-sized bedrooms, three detailed bathrooms, second living areas and large terraces with river and city views.
Other apartment offerings include one and two-bedroom apartments offering city and river views.
Andrew Scriven, Managing Director of Colliers Residential Queensland, said the design and architecture of 33 Manning had been a key driver of interest from buyers, alongside its city-fringe location.
“There‘s no doubt that 33 Manning provides some of the best value in the inner Brisbane market”, Mr Sciven said.
“A combination of timeless design by award-winning architects, impressive elevation with river, city and mountain views, and the lifestyle it offers close to cafes, restaurants, markets and public transport makes it a must for both owner occupiers and investors.”
Mr Scriven added they had designed the luxury complex for specific buyer types, with the three-bedroom apartments best suited to owner-occupiers.
“The two-bedroom apartments offer size, aspect and are the best value in the inner city. Timber floors, stone benchtops and quality appliances position these apartments for owner occupiers, but could also yield almost 5% for investors given the current rental pressures in Brisbane”, he said.
“33 Manning also offers indoor/outdoor living and communal amenities including a luxurious rooftop pool, dining spaces, yoga area, garden and sauna, tick the box for those turning to apartment living for lifestyle and affordability.”
Potential buyers are being offered a ‘rare opportunity’ to buy off-the-plan with a deposit of $10,000 in conjunction with the property buying platform Coposit. The apartment complex is set to be completed by 2025.
According to PropTrack the median price for units and apartments in Milton is $500,000 which is up 7.8% since May 2022.
Down the road in Toowong, construction is about to start on Monarch Residences, which has seen $150m worth of sales since its March launch.
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