Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Thursday, 23 February 2017

MOAR apartments...

Glut

The Meriton Tower is the tallest building in Brisbane presently, but it won't be the tallest building in the city for too much longer.

The new SkyTower at 222 Margaret Street will go taller again at 274 metres and comprising some 1,119 apartments. 

Mostly one- and two bedroom affairs, apartment prices commenced at around $425,000.

About 20 per cent of the apartments sold have reportedly gone to offshore buyers. 

The SkyTower will only be the tallest building for a short period of time itself, until a new development at 300 George also goes all the way up to 274 metres, which is presently the building height limit for the Brisbane CBD due to aviation restrictions. 

Property developer Billbergia and AMP Capital are behind the Skytower project, with Hutchison acting as the builders.