Queensland builder Hutchinson has broken ground on the $120 million Illumina apartment tower at Toowong in Brisbane on the back of bullish pre-sales.
The project’s construction phase kicked off after Illumina’s off-the-plan sales total surpassed the $100 million mark for Brisbane-based developer Property Solutions.
Launched to the market in mid 2015, the 221-apartment development has found favour with owner occupier buyers, who account for a significant number of purchasers so far.
Hutchinson Builders spokesman Scott Hutchinson said Illumina’s construction was scheduled for completion in the end of 2017 to early 2018, with the first residents due to move in shortly after.
Mr Hutchinson said the builder was pleased to be delivering such a highly anticipated project to the Toowong skyline.
“It is exciting and encouraging to be involved in a development that has received so much attention and commitment from the market,” he said.
Property Solutions sales and marketing manager Craig Wright said Hutchinson Builders was selected for its extensive experience with construction projects of this calibre in Brisbane.
“Having a builder of such repute locked in gives us confidence the project will meet the high standards of quality and craftsmanship expected of luxury residences,” he said.
Mr Wright said Illumina’s collection of $1 million-plus apartments had proven particularly popular with owner occupier buyers.
“These apartments predominantly consist of three-bedroom and study residences, located on the tower’s top three levels, so they meet the size and amenity requirements of the end user market,” he said.
Illumina will offer one, two and three-bedroom apartments across 21 levels on the corner of Lissner and Jephson streets in the heart of Toowong.
Apartments on level five and above will have sweeping city and river and mountain views.
Residents will have access to an expansive recreational sky deck with an infinity-edge pool, ample entertaining space, an open-air cinema and spectacular views from the CBD to Mount Coot-tha.
Illumina’s street-level retail precinct will comprise a series of offerings suited for cafes and boutiques.
The current apartment release at Illumina is priced from $351,000 to $1.1M.
Property Solutions, which has been established in Brisbane for two decades, is a market leader in urban renewal projects across Southeast Queensland and has a workbook of more than 150 completed projects.
The group is responsible for a number of Brisbane’s major mixed-use development projects, including the acclaimed Centro on James Street project - regarded as one of Brisbane’s most successful urban renewal projects - the $350 million SW1 development in South Brisbane and more recently The Barracks, a $150 million mixed use and entertainment precinct in Paddington.
It is currently developing the $270 million Circa Nundah Village and $55 million Arbour apartments in Chermside.