GOLD IN IN­NER WEST

The Courier-Mail - Home - - GROWTH CORRIDOR - BELINDA CHILTON

A tough res­i­den­tial cor­ri­dor to break into was no bar­rier to this de­vel­op­ment com­pany de­ter­mined to pro­vide op­u­lent apart­ment liv­ing in the es­tab­lished in­ner-west.

Golden State Prop­erty Devel­op­ments is well un­der­way with the con­struc­tion of its Au­gus­tus Res­i­dences de­vel­op­ment in Au­gus­tus St, Toowong. The 90 unit one, two and three-bed­room de­vel­op­ment, set over eight lev­els, is al­ready 80 per cent sold.

Tomkins Com­mer­cial and In­dus­trial builders be­gan con­struc­tion in Jan­uary with com­ple­tion tar­geted for the end of March 2018.

Golden State Prop­erty Devel­op­ments di­rec­tor Jim Wat­son said the com­pany had iden­ti­fied Bris­bane’s in­ner-west cor­ri­dor, and in par­tic­u­lar Toowong, as a good place to de­velop due to its high bar­rier to en­try.

“Un­like other in­ner-city precincts, there was no ex­ist­ing in­dus­try that va­cated and left be­hind large tracts of land that could be re­de­vel­oped into nu­mer­ous res­i­den­tial tow­ers,” Mr Wat­son said. “It is an es­tab­lished res­i­den­tial precinct that re­quired us to ag­gre­gate two apart­ment blocks.”

Au­gus­tus Res­i­dences is ap­peal­ing to a range of buy­ers but with young pro­fes­sion­als be­ing the dom­i­nant buy­ing group.

“Toowong is a highly sought sub­urb by owner-oc­cu­piers and in­vestors, a lot of whom are driven by the prox­im­ity to the Univer­sity of Queens­land and the CBD,” Mr Wat­son said.

He said the sub­urb was ex­pe­ri­enc­ing high pop­u­la­tion, em­ploy­ment and eco­nomic growth pre­vi­ously not known to the area.

“This un­prece­dented growth is due to the plan­ning and com­ple­tion of ma­jor in­fra­struc­ture projects such as the Legacy Way tun­nel and the $50 mil­lion Toowong Vil­lage trans­for­ma­tion,” he said. “Strong pub­lic trans­port con­nec­tiv­ity to Bris­bane’s CBD and the Univer­sity of Queens­land has brought 112,000 plus ter­tiary stu­dents to the area and has trans­formed Toowong into a so­cial hub with bars, restau­rants and cafes.”

Au­gus­tus by Golden State Prop­erty Devel­op­ments is un­der way in Toowong. The sub­urb is ex­pe­ri­enc­ing high pop­u­la­tion, em­ploy­ment and eco­nomic growth.

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