Buyers shave $200k off multimillion-dollar Brisbane apartment

first_imgThe ensuite and powder room inside one of the Emporium Residences at Southpoint.As well as the Emporium Hotel and Emporium Residences and Apartments, the Southpoint precinct comprises a ground floor pedestrian plaza, with Woolworths, boutique retail and dining options. The sale of the apartment at 1801/269 Grey Street was the biggest sale of the past week in Queensland.According to property research firm, CoreLogic, the inner Brisbane market can expect another 9,732 units to be built over the next two years — an increase of nearly 30 per cent in overall unit supply. The view from one of the Emporium Residences at Southpoint.More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours agoThe new owners will also be able to access the services of the Emporium Hotel, including a personal chef, 24 hour room service, spa treatments, valet parking and cleaning services.Mr Rand said new apartments in the $1.5 million to $3.5 million range in Brisbane’s inner city were attracting strong interest from buyers demanding a five-star living experience. He said his agency had sold more than 30 new apartments priced between $1 million and $5.2 million in past 12 months.“High quality properties with incredible views are selling well,” Mr Rand said. An artist’s impression of a bedroom in the Emporium Residences at Southpoint.ONE of the newest and most luxurious apartments to hit the Brisbane market this year has sold for a whopping $5.2 million, as buyers adopt an ‘only the best will do’ approach to inner city living.But the new owners got it for a bargain, slashing $200,000 off the original sale price.The four-bedroom property, which is bigger than your average house, is in the swanky new Emporium hotel complex in Grey Street, South Bank.The apartment is one of the Emporium Residences incorporated in the $600 million Southpoint precinct developed by the Brisbane family-owned Anthony John Group.It had been listed for sale for $5.4 million. An artist’s impression of a bathroom in the Emporium Residences at Southpoint.Selling agent Phillip Rand of Bold Residential said a young family living on the Sunshine Coast had bought the apartment as a Brisbane base.The 375 sqm property has four bedrooms, three bathrooms, two studies, a media room and full chef’s kitchen with butler’s pantry and wet bar.It boasts panoramic views over the Brisbane River, CBD and beyond to Mt Coot-tha from almost every room. The Emporium Residences at Southbank.Despite the expected increase in supply, CoreLogic senior research analyst Cameron Kusher said the construction cycle peaked almost two years ago and Brisbane was already starting to see some moderate rises in apartment values and rental rates.Urbis property economics and research director Paul Riga said there was still demand in the inner Brisbane apartment market. “Resales of new product is certainly impacting the overall demand, but it also highlights that interest in Brisbane is still present, with positive investment and employment drivers giving buyers, particularly investors, added confidence.” Mr Riga said.last_img

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