The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
2 WEEKS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 550 ALREADY ATTENDING
2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterTue 15 Dec 15

OpenCorp To Develop $360 Million In Queensland Projects

C

Melbourne-based property investment specialist and fund manager OpenCorp has acquired sites todevelop an estimated $360 million in Queensland projects.

Land has been purchased for two new projects located in Albion and West End.

The Albion site was recently purchased for $11 million, inclusive of existing development approval for
154 apartments.

Hayes Andersen Lynch Architects were involved in the design the development that will encompass a
mix of one, two and three bedroom apartments worth an estimated total of $89 million.

OpenCorp foresee Albion’s housing values to rise significantly in the coming years, being located just
five kilometres from the CBD and bordering on the blue-chip areas of Ascot, Hamilton and Clayfield.
Construction has recently commenced on Citro (pictured) – another OpenCorp development located in
Brisbane’s development hub of West End.

This project will comprise of 106 apartments with an end value estimated to be in excess of $50
million.

Prices for the remaining 33 apartments start from $369,000 (one bed, one bath, no car) with two bedroom
apartments (one bath, one car) starting from $499,000.

Both unit typologies offer considerable value for money, being priced below the suburb’s median price
and located in an area that continues to evolve. The median one-bedroom unit price in West End is
$375,000 or $552,000 for a two-bedroom.

A high proportion of those who have already purchased in Citro are interstate investors entering the
Queensland market for the first time.

These investors have been attracted by Brisbane’s low prices comparable to Melbourne and Sydney, as well as the high rental returns.

The development embraces the Brisbane environment with a roof terrace complete with an infinity edge pool and cinema that offer views across the CBD.

Construction of Citro is scheduled for completion in early 2017.

OpenCorp is fast becoming one of Australia’s most recognised developers. Since forming in 2005, the
company has expanded its offering from property investment to developing.
[urbanRelatedPost][/urbanRelatedPost]EndFragment 
Funds for development sites are crowd sourced from OpenCorp’s clients, who can invest as little as
$10,000.

The OpenCorp team manages these passive investments and use them to develop the underutilised
land into subdivided apartments to be sold for investor profit.

The model has shown to be extremely successful for OpenCorp clients, who target an annualised
compounded return of 20 per cent.

OpenCorp ensure their crowded sourced developments mutually benefit both investors and the needs
of their communities by enlisting quality architects to design each project and positioning properties
near existing amenity.

Citro is located within walking distance to the Brisbane River and future City Cat Ferry terminal, is two
kilometres from Brisbane CBD, 50 metres to the nearest Aldi and CityGlider bus service, and is within
the Brisbane State High School catchment.

OpenCorp’s other existing Brisbane projects include the Aston Apartments located Nundah and
Evolve and Hemingway in Chermside.

Hemingway, worth an estimated $70m, will set a new benchmark for design living in Chermside and will hit the market in February 2016.

ResidentialAustraliaBrisbaneFinanceReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
View All >
Residential

Home Affordability Gap Widens Across Asia-Pacific

Lindsay Saunders
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
Without the $135.98-million injection it is claimed the Logan City Council would have had to stop approving new housing …
LATEST
Residential

Home Affordability Gap Widens Across Asia-Pacific

Lindsay Saunders
3 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
3 Min
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/opencorp-develop-queensland-projects