No OTP defaults at The Wellington in East Brisbane

The Wellington in East Brisbane has achieved a 100% settlement rate for their off-the-plan apartment sales.

The EPV Developments project, which is being marketed by TOTAL Property Group, has just 16 of the total 127 apartments still for sale.

The prices range between $339,000 and $560,000, within the nine-storey mixed-use development.

The newly-completed development comprises one and two bedroom units, as well as a rooftop pool and entertainment area, complete with a podium level garden and recreation area.

There's a boutique retail and dining precinct on the ground floor.

TOTAL Property Group managing director Adrian Parsons, who handled the marketing for the apartments, said the perfect settlement rate for The Wellington was a notable achievement, particularly in the current market. 

“We credit the high settlement rate of off-the-plan apartment purchases to our sales strategy, the quality of The Wellington development and our sales focus on the local domestic market,” he said. 

TOTAL Property Group worked with EPV Developments in the initial stages, making some changes to the floor plans, the building design and interior finishes to suit the targeted local market. 

The Wellington’s central East Brisbane address attracted a range of local buyers, from young professionals to mature downsizers.

EPV Developments director Karl Jameson said the perfect settlement rate was testament to the idea that if you build a high quality, well-priced product in a good location, demand would be strong. 

“TOTAL Property Group understands the apartment market and what we have delivered at The Wellington is stylish, luxury owner-occupier liveable space,” he said. 

“We are very pleased to see our overall vision for The Wellington come together seamlessly, with the high-quality onsite facilities, apartments with contemporary design finishes, and tenants on the ground floor retail precinct beginning to open for business.”