Increasing demand from high end downsizers looking for larger apartments has driven the design direction for Brisbane’s newest luxury and ultra boutique riverfront project, Banc in Toowong.
Banc, which is being developed by Ideal Property Australia, has been designed by WMK Architects and SJB Interiors – who are among the design consultants behind Sydney’s iconic Barangaroo project.
Banc is a boutique 15 storey project which will ultimately comprise just 33 apartments along with a range of exclusive amenities including a wine cellar, infinity-edge pool and resident’s lounge.
Marketing agent Peter Hutton of Hutton and Hutton luxury real estate says Banc has taken its design cues from emerging trends in the million-plus market.
Mr Hutton said high end buyers had tired of purchasing and amalgamating multiple apartments to achieve a floorplate comparable to a family size home.
He said savvy developers were starting to recognise that the focus on compact, high density development in recent years had resulted in a sector of the market being under-serviced.
“Banc is a move towards addressing the shortage of house-sized, luxury apartments to meet the needs of owner-occupiers demanding more space, increased privacy and improved amenities.
“Bigger apartments are back in vogue – not just in Brisbane but globally. There are more large condominiums selling in New York now than there were just a couple of years ago, so the property pendulum is clearly swinging in favour of more spacious abodes.
“Banc’s answer to this trend is a collection of 224sqm – 231sqm premium sky homes serviced by three elevators offering private lift to door access. The sky homes offer three bedrooms, two bathrooms, a double garage, media room and butler’s pantry – with panoramic views across the river – priced from $2.15 million.
“Much of Brisbane’s baby boomer market has been waiting patiently for the tide to turn from smaller investor stock to sky homes that they can feel comfortable downsizing to without sacrificing lifestyle or leaving the neighbourhood they love.
“Banc is being developed on the last remaining infill site on Brisbane’s Coronation Drive in the blue-chip suburb of Toowong, and is being delivered by a world-class team of architects and interior designers, so the location and finishes add to the rarity of the oversize sky homes on offer.”
WMK Architect Russell Grady said Banc’s bespoke design reflected the exclusivity of its prized location.
“Banc’s design is reflective of the open, expansive and fluid features of the Brisbane River,” he said.
“The developer made the decision to minimise the number of apartments and deliver a boutique project, which in turn has allowed us to maximise living areas and residential amenity to offer end buyers a better lifestyle.
“The simplicity and elegance of the development will present an iconic residential address to the Toowong end of Coronation Drive.”
SJB Interiors Director Jonathan Richards said Banc’s interiors would be designed with plenty of personality and character to appeal to end-users looking for a unique home.
“We are working to ensure that Banc’s interior is just as striking as its exterior,” he said.
“The whole building is a statement of sophistication – from the lobby, which will feature an elegant treatment of natural timber curved walls and a sunken stone lounge area, through to the private entry space for each apartment.
“Purchasers can select from two interior colour schemes, with a choice between a soft, sandy palette punctuated with aged brass detailing, or cool grey tones complemented by a striking dark charcoal kitchen.
“It is a classic contemporary style within a building of matching sophistication.”