NEWS
SW1 First Residential Stage Sold Out Before Completion
07 July 2008
The first residential stage in the $350 million mixed use SW1 development at South Bank has sold out ahead of its completion, further cementing SW1 as one of inner Brisbane's most successful mixed-use projects.
The last of 58 apartments was sold off-the-plan last week. The two bedroom apartment on the third floor was sold for $604,000 to a Brisbane buyer.
Austcorp Queensland Built Form Manager Alison Quinn said the sell-out of SW1's first residential buildings, Eden and Dos, followed on the success of the precinct's commercial and retail components.
Stage 1 Commercial was fully leased and sold prior to its completion two years ago and Stage Two Commercial is already two-thirds leased four months out from its expected finish date.
Ms Quinn said the residential buildings' completion and settlement mark a significant milestone for SW1.
"As the project takes another step towards full fruition, we are very excited to welcome the first residents to this thriving cosmopolitan precinct," she said.
The sell-out comes as settlements begin this month on the range of one, two and three bedroom apartments, and residents prepare to move into the five-storey and four-storey buildings.
On completion, SW1 will comprise two residential buildings as well as 36 terrace houses, along with four commercial towers with retail nodes, linked by a pedestrian spine.
SW1 is being developed by Austcorp Group Limited and Property Solutions Group on a 1.8 hectare site between Melbourne and Russell Streets, adjacent to the Brisbane Convention and Exhibition Centre.
"The design, location and range of amenities at SW1 make it one of Brisbane's most sought-after places in which to live, work and play," Ms Quinn said.
"The majority of purchasers have been Brisbane investors who have recognized the vital role SW1 has played in linking the two suburbs of South Bank and West End.
"Residents will have restaurants, cafes, boutiques, retail outlets and commercial suites right on their doorstep, as well as being close to public transport and only 750 metres from the Brisbane CBD."
Overall, six different architects have been engaged for SW1, including the landscape architect, to create unique and individual characters for the various components within the development.
The five-storey Eden has been designed by leading architectural firm JMA, headed by John Mainwaring, one of Australia's most influential architects and a winner of the country's most prestigious residential architecture prize, the Robin Boyd Award.
The four-storey Dos is the product of award-winning commercial designers, Haysom Architects, who built the award-winning Byron at Byron Resort.
The final SW1 residential precinct of terrace houses will be launched later in the year. Interested buyers may register their interests by visiting www.sw1.com.au.
Read more about Austcorp's SW1.
Go to the SW1 website at www.sw1.com.au.
