Release of New Deshon apartments at South City Square project in Woolloongabba

THE LATEST stage of THE  South City Square precinct sold 50 per cent of apartments on release.

The 140-apartment New Deshon tower is the second residential building to be developed in the residential, retail and entertainment precinct following a sellout of the first tower, One South City, late last year.

Pellicano Queensland development manager Michael Kent said a range of buyers had purchased at the $76 million New Deshon.

“Over the past few years there has been a noticeable shift in the market towards young professional couples purchasing apartments with the intention of raising a family. Price point, value and amenity have been the major considerations for these buyers who are typically seeking a two-bedroom two-bathroom configuration,” he said.

“We have also witnessed an influx of first home buyers at New Deshon who have secured either one or two-bedroom apartment types.

“Additionally, empty nesters and couples with children in tertiary education have been the driving force behind the rapid three-bedroom sales along with some local investors taking advantage of a perceived gap in the market.”

Pellicano's New Deshon 

New Deshon resident facilities includes a rooftop pool and access to on-site concierge, with apartment interiors by DBI Design including European oak timber flooring and floor-to-ceiling glass.

Once complete, South City Square precinct is set to include an underground supermarket, cinema and five-star hotel.

Mr Kent said Woolloongabba was a growth “hot spot”.

“Our vision for South City Square is to create a precinct that will transform the area and become a new destination for south Brisbane,” he said.

One, two and three-bedroom apartments at New Deshon are priced from $400,000 to $750,000.

Mr Kent said buyers had the opportunity to combine apartments within the floor plate to create more space.