Banque88 development emulates New York's Flatiron building in Southbank

A new development in Southbank is set to resemble New York’s famous Flatiron building.

To cope with the triangular block, Chinese developer CBD will create an unusually shaped 22-storey building in Clarke Street, Southbank. Urban Design Architects has designed the project.

Sales consultant Paul Raimondo of Castran Gilbert, which is marketing the off-the-plan apartments, says the unusual footprint offers buyers a choice of more appealing designs.

“Because the block is triangular in shape, it’s made some interesting floorplans,” Raimondo says. “They are not the standard rectangular boxes.”

He adds that the building’s shape helps illuminate more of the interiors.

“Almost all of them have natural light to all the bedrooms, which is rare these days,” he says.

The development will comprise 92 one- and two-bedroom apartments, with the ratio about one-third to two-thirds in favour of the larger configuration. One-bedroom apartments will range from 35 square metres to 40 square metres, and two-bedroom units will be between 55 and 71 square metres. One-bedroom units start at $249,950, and two-bedroom units start at $399,000.

Raimondo says sales have been brisk since the development launched about three weeks ago, with about 20 of the units already sold.

He says they have sold to an even mix of owner-occupiers and investors, as the location and price point appeal equally to both.

“We’re going to target younger people, first-home buyers who want to live out of home and live in the city,” Raimondo says. He adds that the Southbank location also appeals to investors.

“They will rent really well, due to their proximity to Crown and the city.”

Construction is expected to begin in February 2012 and be finished in the middle of 2013.

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