Property news
A new project under construction in Newstead is leading the charge with the developers reporting a marked resurgence in buyer confidence for inner-city apartment dwellings.
Aris Newstead, developed by the Brisbane Housing Company (BHC), is scheduled to be one of the first developments completed in the Newstead Urban Renewal precinct. The $30 million project will launch next week and will feature 95 studio, one and two bedroom apartments, of which 39 will be sold to the market.
BHC CEO David Cant said the company expected demand to be strong with Aris Newstead offering investors the added security of knowing that the building will be completed by spring next year.
“Our development is already under construction with completion scheduled for mid 2010, this is a great positive for buyers who will be able to receive a return on their investment sooner,” he said. Mr Cant said the location, coupled with the price point would prove a major selling point.
“Ninety per cent of the top three floors are under $500,000 and one-bedroom apartments with city views and a secure carpark start from $384,000. “Aris Newstead is located in close proximity to the master-planned multimillion dollar Newstead Riverpark, metres away from a major public transport upgrade and only a short distance to various riverside bike and walking paths.”
Mr Cant said the body corporate fees would be among the lowest in Brisbane.
“We expect body corporate fees to be around $3000 to $4000 per year. “This is a great point of difference when you take into account the building will have a lift and two top floor terraces with barbecue facilities,” Mr Cant said.
For sales inquires contact PRDnationwide at Newstead, Yolanda Van Diggelen 0404 476 894 or Adam Gray 0418 708 661.
Go to www.arisnewstead.com.au for more information on the project.
