Devine's Mode Posts $59 million In Sales


Apartment sales in Newstead are on the rise, with developer Devine already achieving $59 million in sales at its Mode apartment development.

Devine has already sold more than 100 apartments at the $82 million development, which is centrally located in Newstead.

Mode was declared the top performing project in the inner-north apartment market for the December 2014 quarter.

The Place Advisory Market Report on Inner Brisbane Apartments revealed that 38 per cent of unconditional sales in the December 2014 quarter were from the inner north off the plan apartment market (Newstead, Fortitude Valley, Hamilton, Bowen Hills, Milton and Toowong).

Devine General Manager Apartments and Development Cameron Mana said Mode’s strong sales reflected a surge in interest in Brisbane’s inner-city suburbs.

“Mode is well positioned to take advantage of the growing interest in Brisbane’s inner-city apartment market,” he said.

“Sales have been strong, with many buyers attracted to Mode’s easy access to parks,shops,the CBD and universities.

“Mode offers a very competitive price point, with one bedroom, apartments starting from just $385,000. Mode also offers larger one bedroom apartments and a variety of two bedroom apartments, some with city views or private courtyards."Buyers were also attracted to Mode’s proximity to the river, Mr Mana said.

Upon completion, Mode will feature 157 apartments over 12 storeys.


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