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Luxury Riverfront Apartments Draw Downsizers, Recording $26 Million In Sales

A luxury riverfront apartment project at Toowong has recorded $26 million worth of sales since its launch earlier this year.

A third of the 34 Banc apartments are now sold.

Developer John Li from Ideal Property said most buyers considered the move to be an upgrade from their family home – based on the location and resort-style resident facilities.

“A lot of people talk about downsizing from a house to an apartment, but the reality is that most of our buyers are moving into a Banc apartment that is comparable to their previous home in terms of size,” he said.

“They are actually elevating their lifestyle with better views and access to facilities.”

“The majority of Sky Homes we have remaining are southeast facing but the building has been designed to provide panoramic views across the river, city and hinterland from every apartment – which is something that you simply couldn’t replicate in most traditional homes.”

Resident facilities include a wine cellar with storage for up to 195 bottles per apartment and the tasting room has been designed to encourage residents to socialise over a glass of their favourite wine.

There is also an infinity edge pool and a barbecue terrace

“Our recent buyers are mostly mature professionals or retirees and they are excited to finally have a home that combines all of best parts of Brisbane city living,” Mr Li said.

“This means they are living right on the riverfront, with views from nearly every room, in a low- maintenance yet spacious abode which is close to the CBD and surrounding shops and restaurants.

“There’s also a sense of community that can’t be found in the larger apartment projects being built across Brisbane.

“Banc is small enough to offer both privacy and connectivity and because all of the sales have been to owner-occupiers, everyone has a vested interest in creating a real community.”

Apartments offer up to 231sq m of living space. Prices range from $899,000 to $2.9 million.

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