This article is from the Australian Property Journal archive
MIRVAC's Brisbane riverfront apartment development, Tennyson Reach, has sold out after chalking up more than $280 million in sales.
Tennyson Reach is the third Mirvac development in Queensland to sell out in the last nine months. The development has recorded more than $9.9 million in sales since the start of the year, with the final six apartments selling for an average of $1.65 million.
Tennyson Reach comprises a total of 207 apartments across three buildings and is situated on the Brisbane River just 8km from the CBD.
Mirvac’s national group executive residential development John Carfi said the majority of buyers came from suburbs in the immediate area and many have lived in the neighbourhood for a long time.
“These buyers were generally downsizing from their family home and wanted a low maintenance alternative without compromising on lifestyle.
“It has also appealed to professionals wanting to be close to the city, while enjoying the lifestyle that comes with a community that has the river and parkland at its doorstep,” he added.
Mirvac recently launched two new projects, Unison at the Waterfront Newstead community, and Art House in South Brisbane.
Australian Property Journal
