A $500 million apartment development spanning an entire block in South Brisbane has reached completion, marking the first finished Australian development for R&F Property.
R&F Property Australia, part of property development group R&F Properties with interests in China, the United Kingdom and Malaysia says the Brisbane 1 development, located one kilometre from Brisbane CBD, is the tallest building in Brisbane south of the river.
The residential development, built by Hutchinson Builders, transforms the site of a former TAFE college and consists of three separate towers of up to 33-storeys.
The project also forms part of the group’s plans for several other prime south-east Queensland projects, including the group’s goliath development located in Brisbane inner suburb West End planned to open in 2023.
R&F Property had its $500 million West End apartment project re-drawn and submitted to council during the Christmas period last year.
The West End development consists of seven towers for the 1.6 hectare Donkin and Hoskings streets site, secured in 2015 for $82.5 million.
Moving further afield from Brisbane CBD, R&F property will deliver up to 10,000 apartments spread across 31.5 hectares as part of its Central Gardens residential community development in Greater Springfield.
Last month, the Hong Kong-listed developer topped out on the first building of a $750 million, eight-building residential and mixed-use development in Melbourne’s Footscray.
Dubbed “Live City”, the development is being built on the Kinnears Ropeworks factory site at 124-128 Ballarat Road, a site R&F secured in 2016 for $60 million.
R&F Property Australia vice president Thomas Chiu said Brisbane 1 occupies an entire block bordered by Cordelia, Peel and Boundary Streets in South Brisbane.
“We specialise in the urban renewal of under-utilised land by reimagining spaces to create projects that meet with the changing needs of fast-growing cities such as Brisbane,” he said.
Chiu says more than 80 per cent of the 608 apartments have been sold with the first residents now starting to move in.
All three Brisbane 1 towers, designed by Brisbane architects Bureau Proberts, were built concurrently with 80 levels across three towers completed in 23 months by Hutchinson Builders.
The development comprises a mixture of 1, 2 and 3-bedroom apartments, starting from $418,000, along with 3 and 4-bedroom penthouses priced up to $2.4 million.