Press Release

FOR IMMEDIATE RELEASE: 1 June 2015

One South City: New towers, shops, and hotel planned in Brisbane’s

A$550 million project takes shape

 Hong Kong— One of Asia’s leading International property marketing agents Citylife International Realty, has launched new residential towers in One South City,  Brisbane’s newest PDA (Priority Development Area) in conjunction with developers Pellicano and Perri projects.

Managing Director of Citylife Mr Michael Bentley, describes One South City in Woolloongabba as 'one of the most exciting redevelopments seen for years.'

Woolloongabba, home of Australia’s famous Gabba Stadium, was declared by the Queensland Government a PDA in 2011, only one of two inner city areas designated by the Government since 2008, which will fast track economic development, construction and infrastructure in the area, located just 2km from Brisbane’s CBD.

Included in the planning is a new proposed AUD$5 billion underground train and bus route straight to the CBD, bringing residents into the heart of the CBD of Brisbane within 3 minutes.

The South City Square project by developers the Pellicano Group is a joint venture with Perri Projects, and  will eventually have 6 residential towers, a hotel, an underground car park, shops, café’s, restaurants and other services all around a central landscaped courtyard, in a master planned development.

Woolloongabba was also recently ranked as Australia’s number 3 best investment location out of the Top 100 locations across the country by Your Investment Property magazine.

Resolution Research also says it is the 3rd most affordable apartment market in the whole country, with residents earning higher than average Queensland and Australian incomes, meaning they can service higher than average rents, creating an almost perfect investment scenario.

Australia remains in a strong economic position, the population is rapidly growing mainly through large increases in migration, unemployment is low, and the Housing Industry Association of Australia (HIA) estimates that Australia will need to build 1 million new homes over the next 6 years just to satisfy current demand.

 Economist Phil Anderson, Author of "The secret Life of Real Estate and Banking" said "Brisbane is the best bet for the biggest gains" in the forthcoming Australian property upturn.

The residential towers offer full resort facilities, including a rooftop swimming pool overlooking the city centre, a gymnasium, residents lounge,  pool decking with sun lounges, and a BBQ area, with Concierge “hotel style” services also being provided.

However the attractions go much beyond just facilities. The apartments comprise deluxe one, two and three bedroom layouts are well designed to maximise light, airflow and views, with every apartment coming with deluxe joinery, Italian appliances, some with study’s and in many apartments, the kitchen or bathrooms will have natural light, a feature seldom seen these days in inner city projects.

The location means tenants or owners on completion of the amenities and facilities can walk outside their front door and within minutes be at in the Brisbane CBD for work, or be at their local café or restaurant without driving.

Michael Bentley is confident about this project.

He elaborates 'Our research indicates that Brisbane offers amongst the highest rental yields available anywhere at present, with the lowest square metre rate for new build property.

The Brisbane property market has been overlooked by many investors, but in fact in capital growth terms according to the research into apartments has virtually Sydney over the long term.

‘A slowdown during  the GFC (Global Financial Crisis) was then compounded by the floods of 2011, meaning prices were artificially held back, with current opportunities under Australian dollars 7000 m², which is around 30% less than most new build in similar locations in most of the other Australian cities.

‘The  upside potential in my view is very strong, and because of the location of the apartments, the low prices, the population growth, the shortage of supply, and the resources boom, buyers can generate high rental income in the meantime, with very little downside risk.’

The apartments also offer investors another rarity seldom seen in many Australian projects over recent years – every apartment, even the lower priced one-bedroom apartments are not only spacious, but come with a security car park included in the price as well as air-conditioning not only to living areas but also to the main bedroom, and spacious balconies to enjoy the views and idyllic Queensland climate are also a feature.

Apartments are expected to start from start from AUD$365,000, and investors will only need a 10% deposit to secure a fixed price until completion in mid 2016.


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Media enquiries:

Michael Bentley

Citylife International Realty

 Email: mjb@citylifeproperty.com

 Hong Kong Head Office: 24 Floor, LKF 29,

29 Wyndham Street, Central, Hong Kong

 

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