The $30 million Mowbray, East Brisbane mixed-use project sells out

The $30 million Mowbray East Brisbane mixed-use development from QM Properties has sold out all 56 one and two bedroom apartments.

The development is currently six months ahead of building completion, on the corner of Lytton Road and Manilla Street.

The ground floor commercial space is understood to be seeing strong interest.

QM Properties’ development manager Glenn Rix said that they have now acquired a site just 50 metres from this development, at 54-58 Manilla Street, spanning 1,214 square metres.

“Recent research reports confirm sales activity is strong and the sell-out of Mowbray and this recent acquisition reaffirms our belief that East Brisbane has all the qualities purchasers are looking for,” said Rix. 

“We attribute Mowbray’s success to its quality architectural design and a starting price of $339,000, combined with proximity to the CBD, multiple public transport options and lifestyle amenity.”

He said that the shifting demographic, with an increasing numbers of Gen Y buyers and middle-aged downsizers, are lifting the appeal of this area and other city fringe locations.

“The new mixed-use development will be similarly placed, providing an ideal market entry to the 4169 postcode and tapping into buyer desire for well-designed one and two bedroom apartments near employment and education hubs,” said Rix.

“We are currently finalising our plans for DA submission and hope to launch the project in early 2015, for completion by 2016.”