Brisbane's Ascot House construction starts after 60 percent sold off the plan

Mirvac and the Brisbane Racing Club’s $950 million residential precinct at the Eagle Farm Racecourse is off and racing with the developer announcing that construction has now started.

It is on Ascot Green’s first residential tower, Ascot House.

Mirvac has sold more than 60 per cent of the nine- storey, 91-apartment tower since launching the development to the public in July 2016.

Mirvac's Warwick Bible said Ascot Green’s civil works including external road works, site preparation and basement excavation are now well underway, and the foundations commenced in December 2016.

"We expect heightened interest in Ascot Green in the coming months as our vision for the project takes shape.”

The historic Eagle Farm catchment will see an architecturally-designed new precinct with works approved for public parklands, bike paths, open green spaces and plans for public art to be exhibited in the communal outdoor areas.Lord Mayor Graham Quirk said the residential development and overall revitalisation of the Eagle Farm precinct would help put the area on the map as a premier recreation and residential destination in Brisbane.  

“The Eagle Farm Master Plan and Mirvac’s Residential Precinct are welcomed additions to our city, and will provide a vibrant and innovative hub where people can live, work and relax,” Cr Quirk said.

“It is an exciting time for Brisbane, as construction commences on this landmark development which will provide approximately 1,000 trackside apartments as well as retail and commercial buildings that tie in with the area’s rich heritage.

“The Eagle Farm and Doomben Racecourse precincts contribute to tens of millions to Brisbane’s economy each year, and this residential precinct will be the centrepiece for the reinvigoration of the Eagle Farm site.”

Brisbane Racing Club Chairman, Neville Bell, said there were plans in place for premium retail facilities and building of a new childcare centre is currently underway.

“We’ve recently submitted a development application for a new shopping precinct in the area which would include eleven specialty retail stores and a major supermarket, further bolstering the area’s appeal,” Mr Bell said.

“In addition, we currently have a new childcare centre on Lancaster Road under construction, and we are taking expressions of interest for an aged care facility in the area.

Stage One of Ascot Green boasts two towers, Ascot House and Tulloch House, each of which contains a selection of one, two, three and four bedroom apartments. 

The nine and 12 storey buildings will feature rooftop terraces where residents and guests can enjoy views of the historic Eagle Farm racecourse and city beyond.

Apartments start at $460,000 for a one bedroom in Tulloch House, with this tower to be released to the public in early 2017.