West End Garden Apartments Stage 2, Brisbane

This project is a large-scale mixed-use residential and commercial development jointly created and presented by renowned Australian developer Payce and Sekisui House Australia, four times the size of Payce's East Village in Zetland, Sydney (a key inner-city development precinct).

The project's design team drew inspiration from many of the world's most captivating cities, including New York, Copenhagen and Barcelona, to create this landmark building complex. The historic site of the former Peters' Ice Cream Factory sits at its heart, where rich heritage and contemporary style blend harmoniously to add an exciting new element to the vibrant West End precinct.

Stage 2 of the project is the Japanese developer's first release, with 163 residences across 2 towers connected by a 1,000 m² floating garden forest rooftop — 53 residences in the North Gallery and 110 in the South Gallery. The North Tower was released first by the developer for internal sales and is expected to be completed in January 2020. The South Tower was released in June and is expected to be completed in July 2020. The project is a north–south oriented building with 4 levels of underground parking, comprising: 1 car space for each one-bedroom and two-bedroom apartment, and 2 car spaces for each three-bedroom and four-bedroom apartment.

North Gallery facilities include: a heated swimming pool, a garden conservatory, a library, a cinema, and a private dining room with a catering kitchen. International fashion icon Akira Isogawa was commissioned to provide the landscaping design for the building.

Interior finishes include: 2.7 m ceiling height, ducted air conditioning, quartz benchtops, feature cabinetry, brushed nickel tapware, Miele kitchen appliances, and double fireplaces in the three- and four-bedroom apartments.

Investment Outlook

Brisbane is the capital city of Queensland, located in north-eastern Australia, bordered to the north by the Sunshine Coast and to the south by the internationally renowned tourist destination of the Gold Coast. Brisbane is a rapidly growing city with a population of over 2.15 million, making it Australia's third most populous metropolitan area. With annual economic growth of 4%, Brisbane has overtaken Sydney (2.2%) and Melbourne (2.9%) to become Australia's fastest-growing city.

Research by Core Logic shows that Brisbane's inner-city suburbs have seen rapid house price growth over the past decade, with West End leading the way at 121% growth over the past ten years. The median house price rose from A$493,000 in 2006 to A$1,090,000 today.

With an average house price of over A$1,000,000, Brisbane's inner-city West End has reached twice Brisbane's overall average house price, clearly demonstrating that West End holds a position of great importance in Brisbane's thriving property market. In addition, West End's population is growing at 5.1% per year, far exceeding most of Brisbane's inner-city suburbs — a clear sign of its strong appeal. As the resident population continues to grow, it will be accompanied by increasingly mature and well-developed infrastructure.

The project is located in Brisbane's inner city, just a short walk from the South Brisbane cultural precinct and only 1.4 km from the Brisbane CBD, with a range of public transport options available. This is one of Brisbane's fastest-growing areas, and its prime location makes it a destination of choice for living, working and leisure.