The Queen’s Wharf Tower has already begun marketing its proposed 819 apartments to potential local and international buyers, hoping to emulate the sales success of the Queens Wharf Residences, which sold 75 per cent of its 667 apartments in the first two months.
Many of the investors in the first residential tower were understood to be local “trophy buyers” keen to have a stake in such a landmark for the city. However, potential buyers for the new apartments may also be middle class Asian families – a prime marketing target for Brisbane property before the arrival of the coronavirus pandemic.
The 71 storey tower will be the fifth and the tallest to be built in the massive 26 hectare riverside precinct which, midway through its construction, is already dominating Brisbane’s skyline.
Sales director at the YPM Group Chris Hinds said market interest in the new tower was strong and salespeople had already reached out to those who missed out on buying into Queens Wharf Residences.
“Prices for the mix of one, two, and three-bedrooms units start from $585,000 up to $3.5 million with limited executive/penthouse apartments on the top floor from $6.4 million,” he said.
A completion date is yet to be released. However, the main integrated resort at Queen’s Wharf which will contain the new Star casino, is due to open next year.
Queen’s Wharf is being developed by Destination Brisbane Consortium – a joint venture led by The Star Entertainment Group alongside its Hong Kong-based partners, Chow Tai Fook Enterprises and Far East Consortium.
Along with the casino and the residential towers, the fully completed development will include four hotels, high end retail stores, about 50 new restaurants and bars, a 100 metre high sky deck, the equivalent of 12 football fields of public space and the Neville Bonner pedestrian bridge which will link Queens’ Wharf to South Bank.
Project director for Destination Brisbane consortium Simon Crooks said construction of the resort had reached level 20.