In spite of growing fears of an apartment glut and offshore buyer settlement concerns, the state of Brisbane's premium apartment market continues to strengthen with buyers snapped up the last remaining penthouse apartments within Newstead's Haven development.
Located opposite Gasworks Plaza at Newstead, Haven is a 25-level residential development that features four levels of premium sub-penthouse and penthouse apartments that are north-east facing and have protected panoramic views of the Brisbane River, Waterfront Park and the city.
The Penthouse Collection is now completely sold out, representing over $33 million of unconditional sales since the development was launched in July last year.
“This is a fantastic achievement to the entire team who have worked very hard to deliver a sold out result in such a short space of time," HCAP Developments CEO Steve Howell, the developer of the project.
“We created a product after identifying a gap in the market where empty nesters and downsizers were struggling to find larger house sized apartments to live in after selling the family home. The sub penthouses and penthouses at Haven have exceeded our buyers needs in terms quality finishes, space, storage, comfort and views and as a result Haven has effectively sold itself," CEO Mark Spedding of Marquee Projects said.
Properties within the Haven Penthouse Collection had an average sale price of $1.65 million and ranged from $760,000 - $3.5 million and were marketed exclusively by Simon Caulfield of Place New Farm.
Three of the buyers spent over $3 million and purchased two sub-penthouses each and amalgamated them into supersized penthouses to create a five bedroom, three and a half bathroom home in the sky with over 45 meters of apartment frontage with views to the River and/or city plus 4 side by side car spaces.
Haven’s penthouse and sub-penthouse apartments feature fully integrated Miele appliances, premium kitchen and bathroom finishes, powder rooms and walk in wardrobes. Nestled at the top level is a rooftop sky deck including infinity pool and entertainment zones featuring barbecues, pizza ovens and dining areas that can be separately reserved for residents.
Designed by local architects Cottee Parker and MMO Interiors, Haven is currently being built by Icon Constructions - backed by Japanese construction giant Kajima Corporation - and is due for completion in second quarter 2017.
Haven includes an 1150sqm retail centre located on the ground floor and will feature a mix of hospitality, service retail and showroom tenancies.The ground floor retail below Haven has been designed by Richards & Spence, who have been responsible for some of the well-known James St architecture. The retail strata was recently purchased by an entity associated with John James, one of several key owners of the James Street retail precinct.