MIRVAC'S TRIO OF SUCCESS

Written on the 3 December 2014

MIRVAC'S TRIO OF SUCCESS

MORE than $280 million in sales has been achieved following the final few purchases of apartments at Brisbane riverfront community, Tennyson Reach.

The Mirvac (ASX: MGR) development, which comprises 207 apartments across three buildings, recorded more than $9.9 million in sales since the start of the year, with the final six apartments purchased for an average of $1.65 million.

Tennyson Reach is the third Mirvac development in Queensland to sell out in the last 12 months.

The Mossvale on Manly masterplanned community, in East Brisbane, sold out in May, while the $350 million Ephraim Island development, on the northern Gold Coast, sold out in January.

Mirvac's National Group Executive Residential Development, John Carfi, says Tennyson Reach has delivered high quality apartments to Brisbane's sought after inner-middle city ring.

He says, in particular, it appealed to buyers who already knew and loved the area.

"The majority of Tennyson Reach purchasers came from suburbs in the immediate area and many have lived in the neighbourhood for a long time," he says.

"These buyers were generally downsizing from their family home and wanted a low maintenance alternative without compromising on lifestyle.

"It has also appealed to professionals wanting to be close to the city, while enjoying the lifestyle that comes with a community that has the river and parkland at its doorstep."

Mirvac has recently launched two new projects, Unison, the next stage of its sought-after Waterfront Newstead community and Art House in South Brisbane.


Latest News

STAFF CHURN BLAMED FOR MCGRATH EARNINGS DOWNGRADE

MCGRATH will fail to meet earnings forecasts after some of its star real estate agents defected to growing Perth firm...

MCBAIN RESIGNS AS BELLAMY'S DIRECTOR WHILE THIRD CLASS ACTION MOVES CLOSER TO SECURING FUNDING

LAURA McBain (pictured) has resigned as a director of Bellamy's Organic (ASX: BAL) today, effective immediatel...

REDBUBBLE TO MISS IPO FORECASTS

REDBUBBLE, the online marketplace for independent artists, will miss a series of forecasts set out in its IPO in its ...

BLUESCOPE CONTINUES STRONG RUN WITH GUIDANCE UPGRADE

BLUESCOPE Steel (ASX: BSL) is trading up 7.51 per cent at $11.16 per share after upgrading its half-year guidance thi...

Related News

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal i...

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter