HOPE GROWS CLOSE TO CBD
THE first stage of a new twotower South Brisbane residential development is expected to be released to buyers later this year.
The project follows Mirvac’s acquisition of an approved development at 38-58 Hope St in an off-market deal with Aria Property Group.
Stage one will feature 189 apartments in a 27-storey building while the stage two tower will be 26 storeys.
Development application documents show the project is also expected to encompass ground floor shops, several levels of resident car parking and nine terrace homes located on level six.
Mirvac residential chief executive officer John Carfi said Brisbane’s strong residential market had strengthened Mirvac’s focus on seeking new opportunities.
“The South Bank locale is truly unique in its mix of worldclass cultural facilities, riverside amenity and lifestyle,” he said. (Located) within a kilometre of the CBD, it is increasingly attracting investor interest.
“We are very excited to be part of the area’s transformation and our team will be working to bring this highly anticipated property to the market within the coming months.”
The 2200sq m site is on the corner of Peel St, and Mirvac plans to work alongside Aria to significantly contribute to the renewal of the South Brisbane precinct.
The alliance has been described as the first collaboration between the two companies, as they look to extend the partnership into master planning projects within Brisbane’s inner city.
Apartments in the Hope St development are expected to start in the low $400,000s price range.