BUYERS VIE FOR PIECE OF BRISBANE UTOPIA
Written on the 6 November 2015
A $180 MILLION Fortitude Valley apartment project is more than 50 per cent pre-sold in the weeks after its launch as buyers vie for a slice of inner-city living.
Utopia, launched to the market in late September, has sold 158 apartments to date and will rise 25 levels above 275 Wickham Street.
It is the first in a number of Brisbane projects by Sandt developments, headed by Bill Wang and backed by a consortium of foreign investors.
Sandt Developments sales manager Jeanette Jensen said the swift sales reflected buyers' urgency to purchase, and it was gaining traction with a range of buyer groups.
"It is visually striking and has forward thinking features such as enclosable balconies and nano-coated glass technology which will reduce UV rays in apartments by 99 per cent," says Jensen.
"Buyers see the real value-add in this as it will provide necessary sun protection and will also reduce energy costs due to thermal insulation.
"Overseas buyers and locals alike appreciate the blue chip nature of the site.
"Both local and international buyers are being drawn in to the aesthetic features of the tower and the luxurious nature of the apartments too."
Utopia will comprise 300 high-end apartments primarily aimed at owner-occupiers and investors and will commence construction in the coming months.
Utopia's one-bedroom apartments are priced from $399,000 while the two-bedroom configurations are priced from $580,000.