Property Solutions’ has commenced construction of the second and final stage of its $55 million Arbour on Charlotte development at Chermside.
Arbour currently has almost 70 per cent of apartments sold and has become one of the fastest selling projects in Chermside which is now being touted as north Brisbane’s CBD.
Builder CMF Projects completed Arbour’s first stage early this year. The second tower will ultimately comprise 74 one- and two-bedroom apartments over eight levels.
Property Solutions sales and marketing manager Elisa McMahon said a mix of local and interstate buyers had bought into the project.
“The product and pricing mix is right and investors in particular see value in the Arbour offering,” she said.
“The project’s premium location, directly across from Westfield Chermside, has also resonated with buyers.
Property Solutions managing director David Blanck said the company had appointed CMF Projects because of its ability to deliver Arbour’s first stage on time and with high build quality.
“The start of construction brings with it certainty around delivery,” he said.
“Buyers will respond well to the fact that stage two is now underway and there is a timeline in place for completion.”
CMF Projects director Phillip McKee said construction of Arbour’s second stage would be completed by late 2016.
“The site initially presented some challenges with existing infrastructure beneath the site constraining the building footprint, but having overcome those we are on track for a timely delivery,” he said.
“We are very pleased to be collaborating with Property Solutions once again to deliver the final stage of Arbour on Charlotte.”
Apartments in Arbour’s second stage are an even split of one-bedroom, one-bathroom and two-bedroom, two-bathroom configurations. Each apartment has a dedicated car park.
Prices range from $335,000 to $530,000 for apartments ranging in size from 65sq m to 128sq m.
Property Solutions’ in-house property management team will provide on-site management and letting services.
Property Solutions is a leader in urban renewal projects across Southeast Queensland and has a workbook of more than 150 completed projects throughout its 25 year history.
The group is responsible for a number of Brisbane’s major mixed-use development projects, including Centro on James Street, the $350 million SW1 development in South Brisbane and more recently The Barracks, a $150 million mixed use and entertainment precinct in Paddington.