SUB­URB RISES TO NEXT LEVEL

The Courier-Mail - Home - - LUTWYCHE BOOST - EMILY BLACK

A new de­vel­op­ment is ex­pected to boost mar­ket ap­peal in Lutwyche, ac­cord­ing to de­vel­oper Mer­chant Es­tates CEO Ar­shan Mer­chant.

Mr Mer­chant said Pren­tice Park Res­i­dences would be a “game changer” for the north­ern sub­urb mar­ket and pre­dicted the end re­sult would be akin to how the Em­po­rium de­vel­op­ment im­proved the For­ti­tude Val­ley mar­ket.

“Re­lat­ing it to For­ti­tude Val­ley, maybe 10 or 15 years ago, it was a very down­trod­den area, it was a bit dodgy,” he said. “Then the Em­po­rium launched and a few other high-end projects launched and the dy­namic of For­ti­tude Val­ley and that area has changed and that’s re­ally what this project is all about. We’ve got a unique, un­re­peat­able location and once we build this high-qual­ity prod­uct, it’s re­ally go­ing to change the dy­namic of the whole sub­urb.

“It’s right next to Grange and Gor­don Park, which are high-end sub­urbs in Bris­bane and the shop­ping cen­tre is un­der­go­ing a

$60 million ex­pan­sion and up­grade.”

Mr Mer­chant said building would start in Septem­ber or Oc­to­ber 2018 and would of­fer “af­ford­able lux­ury” with large in­te­ri­ors.

“Nor­mally in in­ner Bris­bane, like Tener­iffe or New Farm, you would get these kinds of fin­ishes and lux­ury, but you would pay $2 million for it, or some­thing at that price point,” he said. “But here we are able to give you the same kind of lux­ury, with two-pak kitchen, Miele ap­pli­ances stan­dard, 40mm stone bench­tops, high ceil­ings and so on.

“But our three-bedrooms don’t go over $785,000, they’re from $695,000 to $785,000, and pent­houses are un­der a million – $869,000 to $999,000.

“You’re get­ting an al­ter­na­tive to that, with a high qual­ity, lux­ury fin­ish, but you’re not pay­ing double price and you’re in front of never-to-be-built-out park­land with views across Ke­dron Brook and up to Mt Coot-tha as well.”

The com­plex will be made up of two build­ings, Banksia, to be seven lev­els, and Poin­ciana will be eight lev­els, and while the fin­ishes will be the same, the two build­ings of­fer a se­lec­tion of dif­fer­ent floor­plans.

Mr Mer­chant said they had de­signed the spa­ces to en­sure they were very ef­fi­cient.

“Peo­ple down­siz­ing or com­ing from a larger space re­ally won’t feel that sac­ri­fice in apart­ment liv­ing,” he said.

Pren­tice Park Res­i­dences is about 9km from the Bris­bane CBD and within the Wooloowin State School and Ke­dron State High School catch­ments.

Pren­tice Park Res­i­dences, a new de­vel­op­ment in Lutwyche, is due to start con­struc­tion later this year.

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