Buyer demand for luxury living in the tightly held inner city suburb of Bulimba has pushed Di Carlo Property Group’s TriBeCa Terraces project to 70 per cent sold ahead of construction completion.
The development which offers 53, two and three storey freehold contemporary residences in one of Brisbane’s most sought-after lifestyle suburbs, has experienced a flurry of sales with 70 per cent already sold.
Di Carlo Property Group director Joshua Di Carlo said the sales success had also been coupled with the builders announcing they are two months ahead of schedule.
“We have been thrilled with the sales results to date and are now expecting to complete construction of stage one by June 2019 and stage two in August 2019,” Mr Di Carlo said.
“There has been a strong response from the local market including families and downsizers who have identified the unique opportunity to get a foothold in this progressive suburb.
“Brisbane is holding its own in the current property cycle and Bulimba itself is expected to exceed the Brisbane market with the introduction of Speed Cat Ferry services only 600m away, the Brisbane International Cruise Ship Terminal and Bulimba Barracks re-development.
“It’s an exciting time for us and we’re looking forward to delivering this project next year,” he said.
TriBeCa’s luxury homes offer large living and kitchen areas, multiple balconies, generous third bedrooms, multiple bathrooms, ground-floor courtyards, double garages, extensive landscaping and recreation areas.
In response to market demand the developer has also subdivided the land, meaning buyers are given the unique opportunity to own the block of land that their terrace home resides on.
TriBeCa’s residents will have access to a range of lifestyle facilities, including generous storage for bicycles and two recreation areas encompassing a luxury swimming pool and lush outdoor entertaining areas for exercise and relaxation.
Sales agent Sam Patterson, of Duke Realty, said buyers have been drawn to the quality design and location of TriBeCa Terraces as well as the benefit of owning a freehold property.
“TriBeCa’s quality finishes, paired with the range of lifestyle facilities and its proximity to the city has struck a chord with buyers and we expect to see the strong sales momentum continue,” Mr Patterson said.
“Brisbane’s property market has managed to buck the national trend with a consistent three per cent steady annual growth, whilst other capital cities like Sydney and Melbourne have experienced a roller coaster ride.
“Brisbane is poised for even more sustainable capital growth with the pipeline of major projects including the Queens Wharf Development, Roma Street Entertainment Precinct and Howard Smith Wharves, set to bolster jobs for the foreseeable future.”
“This is giving buyers confidence in the market and their decision to purchase which is why Brisbane is fast becoming the safest city to invest and we continue to experience a lot of interest in the project,” he said.
The TriBeCa Terraces project is taking shape on a site stretching from Banya Street to Johnston Street, and is easy walking distance to both Apollo Road ferry terminal and Oxford Street’s vibrant retail, dining and entertainment hub.
TriBeCa Terraces is part of an extensive portfolio of residential, commercial and mixed-use projects undertaken by the family-owned Di Carlo Property Group across South-East Queensland since the mid-1980s.
The group’s residential developments encompass townhouses, apartments and land subdivisions, with recent projects including Ebony + Ivory at Coorparoo and Element Bulimba.