Watpac has commenced construction on Mary Lane’s mixed-use development in Brisbane CBD, following its exceptionally strong launch in March this year with almost half of the project sold totalling more than $60 million.
According to Paul Riga from Urbis, Mary Lane was the best performing residential project in Brisbane CBD in the first quarter this year with 79 unconditional sales reported.
“The CBD was the only precinct out of the six within inner Brisbane to record an increase in transactions in the March quarter, with the 64 per cent jump being due to the launch of Mary Lane.”
Developed by Mary 111 Pty Ltd, the $325 million mixed use development at 111 Mary Street will feature 184 residences, five-star Westin Hotel with 286 rooms and suites plus a range of dining and entertainment options.
One, two and three bedroom residences and penthouses have been attracting investors, local downsizers and owner occupiers.
A local couple, Suzanne and David Harrison, who originally moved to Brisbane from Townsville three years ago, purchased a two bedroom, two bathroom residence on level 19.
“We love the lifestyle that the CBD offers, and Mary Lane was the obvious choice as it was only a block away from where we are living now,” said Suzanne.
“We were looking for a well finished, new apartment with plenty of space to entertain our family when they visit. The L style design was ideal as the master suite is well separated from the second bedroom offering our guests more privacy.
“Important inclusions such as storage were also considered and with the purchase of our residence we receive an on-floor storage room which is quite unique for apartment living in the CBD.
“Residents also have exclusive access to the recreation deck on level 37 with gym, infinity pool and BBQ and function area. They will be such beautiful facilities to enjoy and entertain in,” Suzanne said.
Andrew Roubicek, Director of Residential at Colliers International who is marketing the project said the internationally renowned architectural firm Woods Bagot designed the project, with the layout of the residences well suited for the owner occupier.
“North facing three bedroom residences are selling for an average price of $1,490,000 and feature 2 bathrooms and 2 car spaces. The 2.7 metre high ceilings and expansive glazing will take the full advantage of the views across the Story Bridge, Brisbane River and the City.
“Spaciousness and quality have been carefully considered with residences totalling 152sqm in area complete with timber floors, Siemens gas appliances, dedicated laundry, as well as an exclusive on-floor storage room.
“Westin Hotel services such as in-room dining, maid service and use of hotel spa, bar and restaurants will also be available to residents of Mary Lane,” Mr Roubicek said.