Queen’s Wharf apartments snapped up
Brisbane’s development industry is buzzing after most of the apartments in Queensland’s largest construction project were snapped up within a matter of days, despite the project not officially launching until next month, according to industry insiders.
News.com.au reports that the development’s website states Queen’s Wharf Residences are not due for launch until March 5, but sources have told Talk of the Town that at least 500 of the 667 luxury apartments have already sold – mostly to local trophy buyers wanting a piece of what’s set to become Brisbane’s most recognisable landmark.
Within minutes of the residential project’s allocation launch last week, hundreds of millions of dollars-worth of apartments were reportedly sold to VIPs and private buyers.
There are dozens of expressions of interest waiting to be signed up in case any of the sales fall over.
Apartment prices range from $550,000 for a one-bedroom unit to up to about $3 million for a three-bedroom unit with a parking space.
YPM Group director and head of residential sales for Queens Wharf Residences Bryce O’Connor declined to comment on pre-release sales in the project, except to say that there had been an “unprecedented level of local interest.”
“There has been an enormous amount of interest from the local market and we’re thankful to the Brisbane market for showing the support they have,” Mr O’Connor said.
“I think the local market has been waiting for something quite special to come along; high-quality apartments and something exciting in terms of being a destination for the Brisbane public.”
The $3.6 billion Queen’s Wharf ‘integrated resort’ is earmarked for completion in late 2022, with promises it will lure an extra 1.4 million tourists to Brisbane each year.
The core complex, taking up an entire block between William and George streets in the city, includes three hotels, a residential tower and a casino.
The project is the work of Destination Brisbane Consortium, a joint venture between Star Entertainment Group, Far East Consortium and Chow Tai Took Enterprises.
When completed, Queen’s Wharf will contain 50 bars and restaurants, a 100 metre-high Sky Deck with panoramic views of Brisbane, which will be open 24 hours, and a pedestrian bridge linking the complex to South Bank.
The reported flurry of sales could be another sign that Brisbane’s once over-supplied apartment market has turned a corner.
Since bottoming out in June 2019, CoreLogic indices show the city’s unit market has recovered 2.2 per cent.
Queen’s Wharf wins building award
Brisbane’s Queen’s Wharf project has won a prestigious building award.
Architosh reported in January that Queen’s Wharf’s integrated resort development, which will transform the CBD and river’s edge has won first prize in the design category at the recent 2019 building SMART International Awards.
The award recognised PDC’s Digital Engineering team for its pioneering and innovative efforts on the $3.6 billion project.
The Destination Brisbane Consortium is delivering the development, which will cover more than 26 hectares across land and water – equivalent to 10 per cent of Brisbane’s CBD.
The development encompasses 50 new bars, cafes and restaurants; 2000 apartments across three residential towers; and more than 1100 premium hotel rooms operating under four hotel brands, one with a casino.
Multiple reasons behind building choice
Destination Brisbane Consortium director Simon Crooks said: “We made the decision to utilise BIM for two main reasons.
“In the short term, for design coordination. This is an asset with over 340,000 square metres of built form – and that, from a coordination viewpoint, is critical.
“In the longer term, we’re talking about maintenance and facilities management of the asset, and we intend to operate for 99 years as per the terms of our lease.
“Again – BIM is critical to that process for us,” Mr Crooks concluded.
“Director of Customer Support at GRAPHISOFT Gergely Kmethy said iconic projects like Queen’s Wharf are important learning experiences for software vendors.
“The lead architect on this project, Cottee Parker, used ARCHICAD. We also worked with the PDC team to explore the best practices around collaboration and involving other software,” Mr Kmethy said.