Mirvac fast-track third apartment stage at Eagle Farm Racecourse development, Ascot Green
Having sold out the first two residential stages of their Ascot Green development flanking the Eagle Park Racecourse in Brisbane, the ASX-listed developer Mirvac has lodged plans for its third stage.
The third, subtropical-inspired apartment block will rise 14 levels with 111 apartments and a rooftop with panoramic city and track views. That will also feature a private dining room and lounge areas.
It will home the community's first four-bedroom apartments, as well as four integrated terraces with direct access to green open space fronting the racecourse.
The ground level will feature a gym and resort-style pool overlooking the racecourse.
Mirvac Head of Residential Stuart Penklis said the developer was already taking registrations of interest, including from purchasers who missed out on securing their place in Tulloch House (pictured below.)
It is anticipated the new release, the third at Ascot Green, would go to market in late 2021 or early 2022, pending approval from Brisbane City Council.
“The demand for apartments in Brisbane is extremely high, particularly at the top end,” Penklis said.
“We’re seeing this being driven by a number of factors, including local owner-occupiers capitalising on the strong growth of their family home to secure a generous apartment, upgraders expanding their living space and location, and continued high interstate migration."
Nearly two-thirds of buyers in Ascot House and Tulloch House came from adjoining blue-chip suburbs like Ascot, Hamilton and Clayfield, a trend in which Penklis suggests will continue in the newest building.
There's also the intergenerational buyer, where multiple purchasers from one family are seeking individual apartments in the community.
Mirvac Design have described the new building design as an ode to its Ascot surrounds and a reimagination of the classic Queenslander.
Mirvac Design director Nicolas Thioulouse said the architecture of the planned building was guided by the ‘Buildings that Breathe’ vision and design elements friendly to South East Queensland's climate.
“We have focused on aligning the proposed building with Brisbane’s beautiful sub-tropical climate and its truly unique location, surrounded by 50 hectares of green space,” Thioulouse said.
“In keeping with the peaceful and natural surrounds, residents will enjoy the authentically Queenslander experiences of shade and shelter, and screening and greenery, with the ability to open and close elements as they wish to maximise natural light and ventilation.
The sold-out Tulloch House features 84 one, two and three-bedroom apartments and luxury penthouses, which achieved from $450,000 to more than $2 million. The apartments are due to be completed in late 2021.
The first stage, Ascot House, sold-out all 90 apartments in 2020 and is completed.
It was announced earlier this week Tulloch House, featuring 84 apartments, had sold out, with completion expected by the end of the year.