Tennyson Reach residential development nearing sell-out

Mirvac’s Tennyson Reach riverside community development is close to sold out.

After selling 26 apartments since January 2013, with a total of about $22 million sales, a handful of apartments remain.

According to Mirvac’s national chief executive of residential development, John Carfi, there is strong interest in the final apartments.

"We've had an overwhelming response to Tennyson Reach over the past year and we're expecting this interest to continue," he said.

"The remaining apartments all boast Brisbane River views, with the majority located on the upper levels, so while we are down to the final properties in the development, they are in prime locations.

Each remaining apartment has three bedrooms.

Tennyson Reach is an apartment community development comprising six apartment complexes: Softstone, Lushington, Farringford, Aldworth, Parsons and Somersby. The site is eight kilometres from the Brisbane CBD and located opposite the State Tennis Centre. Tennyson also includes 2.98 hectares of parkland, with access to cycling routes and a canoe trail.

"The opportunity to live in close proximity to these amenities, including the 2.9 hectare Ken Fletcher community park, has been a significant part of the appeal for purchasers," said Carfi.

"The majority of buyers have already been living in the surrounding area and are looking to downsize to an apartment lifestyle that comes with having these facilities in easy reach.

"They also want an apartment that doesn't compromise on space, while allowing them to enjoy low maintenance living."

Carfi note the increasing demand for premium apartments in Brisbane.

"With limited new development taking place in the city over the past few years, those wanting to step straight into a brand new property are realising they need to act quickly," he said.

"As development across Brisbane has largely been centred on more entry level properties, the opportunity to secure a spacious apartment in an absolute riverfront location like this is scarce.

"Those who are interested in making Tennyson Reach their home should act quickly."

The remaining three bedroom apartments are priced from $995,000.

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