AN OUTSTANDING seventh floor apartment at EPV Developments’ $60 million The Wellington development in East Brisbane has been purchased off the plan by a keen young first home buyer looking to start a property portfolio.
The brand new one-bedroom apartment was the perfect entry point into the property market for Thomas Bellew, 21, who was attracted to The Wellington for its affordable and spacious apartments, ideal location in an inner city lifestyle suburb and its potential for strong capital gains over time.
The Wellington incorporates spacious one- and two-bedroom apartments and recreation facilities above a vibrant boutique dining and retail centre on the ground floor, perfectly positioned just 1.5km from the Brisbane CBD in the highly sought after East Brisbane / Woolloongabba café and dining precinct.
Currently renting an apartment in Chermside, Mr Bellew began looking to buy his first apartment at the beginning of last year, with key criteria including a convenient location in an inner city growth suburb, a spacious floorplan with an outdoor living area, and well-designed communal areas and recreation facilities.
“I always had an interest in property and wanted to get into the market as early as possible to take advantage of the current record low interest rates and the Queensland First Home Owners’ Grant,” Mr Bellew said.
“My plan was to purchase a one-bedroom apartment in a high-demand suburb off the plan, allowing me to save more money while construction is being completed in the lead-up to settlement,” he said.
“I work in West End so I was looking to buy a generously sized apartment in the CBD, West End, Woolloongabba or East Brisbane in a particular price bracket, then my Dad showed me The Wellington and it ticked all the boxes so I jumped at the opportunity to purchase.
“I will move into the apartment as soon as the development is finished and my settlement is complete then begin paying off the mortgage to build equity for a deposit on my next property.
“The apartment I chose has one bedroom, one bathroom, two car spaces and a spacious open plan living area flowing out onto a massive wraparound terrace which is actually larger than the indoor living space, I know I will spend a lot of time out there all year round.
“I enjoy cooking and the balcony is the perfect place for a barbecue, it even has planter boxes around the border where I can grow fresh herbs and vegetables.
“The Wellington also has a retail area on the ground floor where there will be quality providores, artisan retailers, cafes and restaurants, making it easy to grab groceries, a coffee or enjoy a meal out.
“East Brisbane and Woolloongabba are known for its dining scene and I am looking forward to exploring the great variety of great cafes and restaurants located within easy walking distance of The Wellington.
“I’m also looking forward to hanging out in the communal garden and barbecue area on the second floor and relaxing in The Wellington’s rooftop pool area while taking in the city views.”
EPV Developments director Denis Mackenzie said due diligence research shows that Brisbane’s inner south-east is quickly becoming a lifestyle destination of choice, with The Wellington perfectly positioned in an area of ongoing high demand.
“We want to make the most of this prime location by creating a development where residents can enjoy convenient and luxurious inner-city apartment living and captivating city views,” Mr Mackenzie said.
“Our design concept for The Wellington’s apartments is to create a sense of space, maximised by integrating accessories into a seamless, clean and contemporary style, offering a choice of light and dark colour palettes and selected upgrade options allowing owners to personalise aspects of their apartment,” he said.
“A unique central atrium with lush tropical terraces and courtyards provides residents with a garden view and allows natural light and refreshing breezes to flow into The Wellington’s generously sized apartments.
“The Wellington residents can also enjoy the convenience of a vibrant ground floor retail and dining precinct plus luxurious recreational facilities including a rooftop pool and entertaining area and a residents’ barbecue garden and relaxation zone on level two.”
The Wellington marketing manager and TOTAL Property Group managing director Adrian Parsons said he is seeing very strong interest in the spacious and competitively priced apartments on offer at The Wellington, with sales inquiries from a variety of demographics including first home owners and investors
“The Wellington is attracting a diverse range of buyers due to its location, value and overall quality, with purchasers coming from the local and wider Brisbane market as well as Sydney,” Mr Parsons said.
“Brisbane’s property market is continuing to record healthy growth both in sales volumes and median sale prices, particularly for multi-storey developments, with apartment living becoming increasingly popular,” he said.
“East Brisbane is a high growth area experiencing increasing and ongoing demand from buyers and tenants due to the limited availability of new apartment developments.
“The impressive sales results we have seen since launching only confirms the appeal of the location and the luxurious, spacious and competitively priced apartments on offer at The Wellington.
“We’ve had a lot of people taking up the opportunity to visit the Sales Display Centre located directly across the road from The Wellington development construction site, utilising interactive touchscreens to determine the apartment that suits them best and experiencing a full kitchen and bathroom display.”
The Wellington’s one-bedroom and two-bedroom apartments are available in a variety of floorplans designed to offer contemporary living and are priced between $349,000 and $615,000.
The Wellington is perfectly positioned on the corner of Wellington Road and Overend Street in the high-demand suburb of East Brisbane, just a short walk from The Gabba stadium and the dining and shopping destinations of Logan Road and Stanley Street.
For sales information go to http://thewellingtonbrisbane.com.au/, phone TOTAL Property Group on 1300 393 855 or visit The Wellington sales office, open Saturday and Sunday from 10am to 4pm or by appointment, opposite The Wellington development site at 30 Wellington Road, East Brisbane.