NEWFARM luxury development Aquila has sold seven of its 12 apartments for around $30 million.
Tom Dooley, whose company Tom Dooley Developments (TDD) is behind the project on Moray Street, says half of the 10 riverfront apartments were sold at more than $5 million each, with the two street-front apartments sold for $2 million each.
Dooley caters to top-end buyers with Italian marble walls in bathrooms, Indian black granite floors and audiovisual and automation systems to the value of $180,000 per unit.
“We have a great architect in Shane Plazibat and what we push for is when he proposes something we don’t cut it out and say ‘we won’t use that detail because it’s too hard or too expensive’, because if you do that then you’re cheapening the building,” he says.
“One of the buzzwords that’s bandied around is ‘international-class designs’ but when you have a look at the market and what people are doing in Brisbane, a lot of them don’t make the cut when it comes to what people are doing around
the world.”
He cites an overall material and building cost of $7000 per sq m of interior space on the site, with the overall worth of the development at around $60 million, with a different approach to riverfront views.
“Right from the word go, because the river itself is on a 45 degree angle to the site boundaries, it is different because traditionally in urban areas you face the river right on the front. But in our case you’ve got two frontages – a balcony that faces the river with a larger expanse of water than if it’s just front on, as well as glass wall on the other side of the apartment with views of the Story Bridge,” he says.
“The complex also features a sparkling in-ground pool, entertainment area and gym and enough underground car parking to allow each apartment three side-by-side car spaces.”
TDD is also involved in bulk excavations for its next project Kingfisher, which has already sold 27 out of 32 apartments, starting at $495,000 but have shot up to $650,000. The building is set for completion in November.
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