MOSAIC Property Group is banking on the burgeoning popularity of Alderley, with the launch of Botanica on Quarry.
The developer is hoping the luxury boutique offering will capitalise on the Brisbane suburb's future as a "leading blue chip city fringe" area.
Brisbane City Council's Suburban Centre Improvement Project (SCIP) has transformed Alderley with a $5.3 million upgrade to the shopping centre, improved streetscapes and expanded bicycle facilities.
Botanica on Quarry director of sales Anthony Hancock says pre-launch interest has signalled that the development will likely sell out fast.
"Botanica is the second of two key projects for Mosaic at Alderley, following the success of Cove on Camborne selling 100 per cent of apartments within the first six weeks," Hancock says.
"Over the past 15 years, Brisbane's city-fringe suburbs have demonstrated stronger capital growth than the CBD, with an annual growth rate of 6.6 per cent, compared to 5.5 per cent in the CBD fringe area."
The development will consist of 13 two and three bedroom apartments priced from $510,000.
Mosaic Property Group managing director Brook Monahan says Botanica on Quarry is set to benefit from the significant investment in the area.
"Botanica will infuse Alderley's booming market with its architectural prowess, offering functionality and affordability in stylish, contemporary apartments, six kilometres from Brisbane's CBD, 500 metres from Alderley train station and minutes from more than 30 hectares of parklands," Monahan says.
"Featuring fully air-conditioned, spacious, open plan apartments up to 159 square metres, Botanica offers residents the opportunity to entertain friends and family on large, private balconies.
"Residents at Botanica will also enjoy access to luxurious lobby designs, secure garage and stunning views of Brisbane's skyline and surrounding areas."
Construction is scheduled to commence in June, with the first settlements anticipated in April 2016.
Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support