The construction of Barber Property Group’s Vistas St Lucia is now complete, delivering 32 luxury apartments within one of Brisbane’s most sought-after suburbs.
A leafy, suburban feel with the accessibility and amenity of the inner city, the development has seen strong interest from buyers who face limited options for new builds in the blue-chip neighbourhood. As the areas first offering of one-bedroom apartments in five years, Vistas St Lucia has seen demand stem from first home buyers, making up 70 per cent of sales, with the remaining 30 per cent of sales attributed to investors looking to leverage the prominent student rental market.
Barber property Group Director Paul Barber said the company anticipates strong demand for Vistas St Lucia, as the area’s lifestyle factors play a big drawcard, with the proximity to the city and river, abundance of cafes and restaurants, and quintessential ‘Queensland feel’ high on buyers’ wish lists.
“Prior to completion, approx. 40 per cent of the luxury apartments had sold, really reiterating the market’s desire for new inner-city stock,” Mr Barber said.
“We’re noticing a resurgence in demand for one-bedroom apartments, with a mix of downsizers and young professionals wanting to get into the inner-city suburbs, as well as demand continuing for larger two and three-bedroom properties.
“The numbers stack up very well for investors looking to capitalise on St Lucia’s unique market, as it benefits from a range of buyer types at different stages of their lives.
“Although the student market has sat dormant for the last 12-months, with the current roll out of the COVID-19 vaccine, interest is picking up, so we anticipate a rush of international students at the end of the year, ahead of the first semester in 2022.
“Still, with many international students out of the equation, demand in St Lucia’s has remained high with recent occupancy rates as low as 1.7 per cent.”
The University of Queensland draws a significant number of students, many of whom are looking for high-quality and convenient property options, with a wave of international students due to return in the new year as the vaccine roll-out gains momentum. “Our recently completed Eton Apartments in St Lucia has seen healthy results for investors, with the project seeing 100 per cent commitment prior to completion, and now delivering a seven per cent return,” Mr Barber said.
Barber Property Group has been building in Brisbane for over 30 years now, and we understand what’s important to buyers. “For this particular market, we know they won’t compromise on quality, and our award-winning project partners CG Design Studio and Raymond Barber Architects have delivered a design centred around ‘liveable luxury’ – contemporary finishes, earthy colour palettes and natural timbers that integrate with the St Lucia aspect.”
“The design also takes advantage of the site’s premium location, with sweeping city views, floor plans that prioritise light and air flow, and seamless integration of indoor and outdoor spaces.”
Vistas St Lucia comprises of nine one-bedroom apartments, fourteen two-bedroom apartments, nine three-bedroom apartments, and communal facilities including a large open-air terrace and BBQ area with sweeping city views.
For more information, visit www.vistasstlucia.com.au
