Opera, a $100m luxury apartment project in Cordelia St, South Brisbane has welcomed its first residents this month. Project was sold out in 9 months after its launch in the last quarter of 2014. Half of the 182 apartments were sold to the local buyers, with the majority of the available investor units already rented out.
Melbourne based Abcor Property Holdings developed the 16 level building at 47 Cordelia Street, with Hutchinson Builders undertaking the construction. It was designed by the award-winning architects Paul Fairweather and Anthony Jemmott who worked with Trish Szonert of MMO Interiors to create the timeless, urban residences.
“Opera was the top performing project south of the Brisbane River during its pre-sales phase achieving $85m worth of sales in its launch quarter,” said Andrew Scriven of Colliers International who marketed the development.
“Both owner occupiers and investors appreciated the location, architecture, design, well considered apartment layouts and a consideration for the end occupant with the rooftop pool and entertainment with unobstructed city views area a big drawcard.
“Hutchinson Builders did a fantastic job with the finished product truly reflecting what was promised in the marketing campaign.
“Despite media talk of an apartment over-supply in the CBD and tighter lending constraints for both local and foreign buyers, Opera buyers didn’t experience any significant issues with bank valuations or securing bank funding.
“We settled the majority of apartments in the two weeks with owner occupiers keen to move in and take advantage of the South Brisbane lifestyle, and investors eager to capitalise on the current rental demand.
“Following this settlement success investors at Opera are now experiencing strong rental demand, thanks to the building’s design, finish, amenity and location,” Mr Scriven added.
On site managers Ben and Emma Orton from Prestige Residential said: “Interest had been strong with one bedroom apartments renting from $450 to $550 a week, and two bedrooms apartments renting from $640 to $740 a week.
“Brisbane’s Inner South precinct performed well over the past 12 months, being the only precinct to record rental growth in all apartment types, as recently reported. This obviously reflects the strong fundamentals of the precinct.
“The building features a sophisticated lobby, a sky garden plus alfresco dining area on Level 16, and a resort-style infinity pool with stunning city views. Ground floor retail and office space is topped by 182 one, two and three bedroom residences.”
Prestige Residential offers concierge style services such as in-house laundry service, dry cleaning, onsite maintenance service, and general concierge services such as bookings, transfer services etc.
For more information on the rental opportunities visit www.operasb.com.au or call 0477 414 090.