Single purchaser splashes $14 million at Ella, Newstead luxury development

Single purchaser splashes $14 million at Ella, Newstead luxury development
Single purchaser splashes $14 million at Ella, Newstead luxury development

A buyer has purchased $14 million worth of property in a single transaction at Kokoda property’s $119 million Ella development in Newstead, Brisbane.

The project's launch saw more than $22 million in sales transacted.

The $14 million buyer purchased a complete floor, plus three additional apartments on a separate level.

Single purchaser splashes  million at Ella, Newstead luxury development

Kokoda property has experienced market buoyancy in recent months, fast-tracking the release of the second stage, Ella, after demand started to soar and the first building, Chester achieved 135 sales totalling approximately $95 million in just seven weeks. 

Chester was recently named the second best performing project in Brisbane in the last quarter.

Located on the corner of Chester and Ella Streets in Newstead, the project offers a round-the-clock, hotel-style concierge.

Single purchaser splashes  million at Ella, Newstead luxury development

The project includes a rooftop space with swimming pool, spa, outdoor cinema, kitchen and barbeque areas, and golf putting greens.

There is also a private dining facility, a courtyard terrace, health and wellness centre, and gymnasium.

Kokoda property sales and marketing director, Sam Tucker said Chester and Ella had been designed by architecture firm Hayball with interiors by Singapore Ministry of Design. 

“We wanted to offer Brisbane something it had never seen before,” said Tucker. 

Single purchaser splashes  million at Ella, Newstead luxury development

Ella’s golden façade then has interiors featuring gold plated finishes.

The building holds 149, one, two, three, and four-bedroom dwellings. 

Single purchaser splashes  million at Ella, Newstead luxury development

Tucker says Kokoda property undertook extensive research into the lifestyle on offer in Newstead to determine viability of the site.

Key drivers included a high level of lifestyle amenity with restaurants, cafes, entertainment and premium retail options, proximity to the city and access to bike and running tracks.

Combined with low vacancy rates, strong rental yield, and significant capital growth at an average of 9.7% annually for the last 10 years, this presented the perfect opportunity.

Ella’s one and two bedroom apartments range in size from 55 square metres to 82 square metres and are priced from $440,000.

Three and four bedroom penthouses range in size from 145 square metres to 197 square metres and are priced from $2.3 million.

Completion of the project is expected in 2018. Visit kokodaproperty.com.au for more information.

Tags: 
New Developments Brisbane

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