This article is from the Australian Property Journal archive
BRISBANE developer Pradella is moving ahead with the construction of its $260 million West End apartment project, Waters Edge, defying the market slump.
Construction of the 122 luxury apartments in Stage 1 is expected to be completed in early 2011.
Pradella’s sales and marketing director Ross Higgins said the company has been a strong performer for 50 years and has endured many booms and recessions.
“What we have learned is that if you get the fundamentals right, there will always be opportunity,” he added.
Higgins said over 50% of the Stage 1 apartments have sold off the plan and he expects to sell the remaining stock very quickly.
He added that Waters Edge is one of the last opportunities to buy new apartments on the Brisbane River at West End.
The resort-style configuration of Waters Edge features 4,000 sqm of ‘waterscaped’ grounds, including lagoon wading pools, ‘outdoor kitchen’ and barbeque shelters and an infinity edge lap pool.
Once completed Waters Edge will comprise two, eight-storey buildings, with the first building, Reach, now selling a mixture of one, two and three-bedroom configurations priced from $550,000.
Reach also incorporates 16 luxurious absolute riverfront apartments, with three bedrooms, two bathrooms and a separate multi-purpose room and study priced from $1.795 million.
Australian Property Journal
