Pete Wargent blogspot

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

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Monday, 9 February 2015

Development in Bris

Brisbane units

There is a lot of talk about new developments in Brisbane.

I thought it might be useful - for some readers anyway - to record on this blog what exactly folk are talking about when they refer to apartment supply up in Brissie.

Particularly to note that some of the new developments are actually rather impressive.

Brandishing my camera today - well, more accurately, my iPad - a quick look at what is happening in the changing suburb of Milton.

Milton

Bordering popular Paddington, Milton is a mixed suburb, previously known for its tram depots.

It is located only a couple of kilometres from the Central Business District and presently comprised a mixture of industrial and commercial units, warehouse space, a strip of shops and cafes and some residential property.

Milton is also home to the old Lang Park, now known as the impressive Suncorp Stadium, and although sadly my brewery tour days are alas a distant memory, the grand Castlemaine XXXX brewery.

Development

Milton's mini-Eiffel tower which fronts its cafe strip has now been outdone by new development. 


As a location for owner-occupiers to live Milton scores very highly on a number of fronts.

Coffee is easy to get (by my reckoning, this is important!), cafes and restaurants are on your doorstep, there is a ferry wharf to take residents down the river to the city at Riverside, Southbank or University.

There is also a train station "where the birds chirp" (I couldn't hear them though, due to upgrade work on the station, which is actually a long term positive).


Zooming out the shot a little shows the long-awaited "The Milton" development which is due for completion in the middle of 2015.

As a mixed use development will add office space, restaurants and just shy of another 300 apartments (298) to the suburb, almost all of which have now been sold.


Entry prices are quoted in the high $300k range, and this development has some key advantages over other new developments in Brisbane.

Although there is potential for more of the suburb to be developed back further towards the Suncorp Stadium or above some existing commercial properties, notably this part of inner west Brisbane is not flooded with apartments (unlike some of the other areas close to the city that I have mentioned  previously).

The Milton residence have natural light and many will also benefit from outstanding views - importantly, the properties are not shoeboxes, being a fair size and open plan in style.

While domestic investors may opt for established properties, developments such as this will be very popular with homebuyers and international investors.