Boutique inner suburban living in hot demand

Boutique near city living is coming of age in Brisbane with unique master planned residential project Brickworks Park set to usher in a new style of high-quality living, according to leading property consultants Urbis.

Exclusive research prepared by Urbis for CDL Australia reveals a growing need for affordable residential options in the Alderley catchment, which includes Alderley, Newmarket, Wilston and Enoggera. It highlighted the current limited supply of new apartments and townhomes.

Brickworks Park is meeting this demand by offering a high-quality, comfortable, easy maintenance lifestyle only 5 kilometres from the Brisbane CBD as well as an exciting new alternative to the suburb’s predominance of expensive houses and older-style unit blocks.

“Large scale residential development sites within the city fringe are becoming increasingly rare,’’ according to the Urbis report.

“Currently, houses (in the Alderley catchment area) are an average of $481,000 more expensive than apartments,” it said.

“With such strong house price growth, apartments offer a more affordable alternative within an otherwise very wealthy and sought-after area.

‘’Large scale projects that offer a diverse range of dwellings, green space and community amenity in established suburbs are likely to draw demand from a wide market.’’

Nestled in a lush 4.6-hectare setting close to everything, more than 40 per cent of Brickworks Park will be dedicated to open space and exclusive recreation areas.

The Brickworks Park neighbourhood will offer a unique opportunity for buyers with a wide range of needs and budgets to secure their own slice of Brisbane’s highest rank suburb for liveability.

Connected location ticks all the boxes

The new Urbis research highlights the desirability of established neighbourhoods close to services and amenities. On this score, Alderley has it all!

The research highlights the nearby Newmarket Shopping Centre, just 1.5 kilometres from Brickworks Park, with a full-line Coles supermarket, 17 cafes and restaurants, nine medical facilities, 13 speciality stores and an 8-screen cinema. Even closer is Alderley Plaza, with a Coles supermarket, post office and range of daily convenience shops.

Medical services are also very handy with the $15 million Monarc Medical Centre just 3.5 kilometres away, and the Herston Quarter, proposed to incorporate a 132-bed public specialist centre, new private hospital and retail, and the Royal Brisbane and Women’s Hospital – all within 4 kilometres.

In addition, residents of Alderley are surrounded by recreational and conservation parks. Nearby Sedgley Park offers 5.5 hectares of open space. Within a 2 kilometre walk is Kedron Brook, with extensive walking trails and park network, as well as Bank Street Reserve with 33 hectares of conservation space.

What’s more, Brisbane City Council is in the early stages of planning the redevelopment of the 18-hectare Victoria Park venue into an iconic public parkland. An artificial lake is planned, with boardwalks and trails meandering through the wetlands along with an architecturally designed canopy walk and tree house.

Great opportunity for property investors

With weekly rents for two and three-bedrooms units increasing by 8.5 per cent a year for the past two years, Alderley has traditionally enjoyed a very strong rental market.

“There are very few new apartments or townhouses currently on the market for rent, indicating strong absorption of product,’’ Urbis said.

New phase of growth ahead

The Alderley area population is forecast to increase by as much as 10 per cent between now and 2041.

And there will be plenty of new jobs to go around with predictions of 700 positions in the immediate neighbourhood and 78,000 additional jobs in the Brisbane CBD – just a 15-minute train ride from Brickworks Park.

Alderley residents are also close to a number of other large employment hubs, including the Royal Brisbane and Women’s Hospital and the Prince Charles Hospital, Australia TradeCoast via the Airport Link tunnel and Enoggera Barracks – one of the largest military bases in Australia with more than 5,000 personnel.