The Courier-Mail - Home - - NEWS - PAULA SHEARER

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.

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