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Adelaide's tallest building Vue on King William defies soft SA unit market

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84 apartments have sold at

Vue on King William, Adelaide’s tallest residential building following the first week of the project's launch.

The joint venture between

Starfish Developments and

Asian Pacific Group sold more than $31 million of property with strong interest, representing 41% of the project and sales predicted to continue over the next few weeks.

The apartments have sold to a mixture of owner occupiers and investors including a number of first home buyers.

Vue is the first major apartment project to be taken to the market in Adelaide after being one of the first to use the State government’s pre-lodgement service designed to streamline the Development Application process.

Starfish Developments Managing Director Damon Nagel said the response from buyers endorses our decision to create a landmark building which would set a new residential design benchmark for Adelaide’s CBD.

“Despite Adelaide’s reputation for being slow to embrace change, Vue proves that being a bit brave and bold can work and people will support you,” said Mr Nagel.

“Many of the buyers at Vue are planning to move into the city from the suburbs as a result and the building will be home to a mix of young professionals and empty nesters looking to downsize and enjoy a low maintenance city lifestyle.

“Buyers are attracted by Vue’s location on the edge of the southern parklands and being within walking distance or a short tram ride of the Riverbank precinct and the new Adelaide Oval.”

The population of Adelaide’s CBD is growing with the number of people living in the city rising by 3.2% to 15,000 in 2013, according to the latest figures from the Australian Bureau of Statistics (ABS).

Last year’s growth makes Adelaide the fourth fastest growing suburb in South Australia with an additional 470 residents now in the city compared to 2012. On completion, Vue will add around 350 new residents to the city’s population.

Designed by Woods Bagot, alongside Design Architect Enzo Caroscio and a South Australian team, Vue on King William will incorporate 205 apartments with a maximum of 10 apartments on a single level.

The apartments are predominately one and two bedroom with a single Penthouse level featuring 4 three bedroom penthouse apartments.

Vue will bring a new style of residential architecture to Adelaide with its 5 level podium, recessed level 6 roof top garden, pool deck and recreation centre and 21 level glass frontage.

Detailed plans for 600 square metre private recreation space on level 6 are underway and are being inspired by Sydney’s The Ivy.

Work will commence onsite in July.

  

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Article originally posted at: https://theurbandeveloper.com/articles/adelaides-tallest-building-vue-on-king-william-defies-soft-sa-unit-market