Growth Location on City Fringe
Popular with buyers for its prime location in a growth area, The Milton is ideal for those wanting to take advantage of the only major off-the-plan property development in the inner-west.
Just two kilometres from Brisbane's CBD, the $210 million mixed-use project is being developed by diversified property group FKP and will feature 298 apartments with direct access to the Park Road cafe and lifestyle precinct and Milton Railway Station.
FKP executive general manager residential communities Evian Delfabbro said property in Milton was in high demand, yet in short supply.
"Recent research by property analyst Michael Matusik found it is one of the fastest growing suburbs in inner Brisbane, with an average annual population growth rate of 4.4 per cent per annum over the past five years," she said.
"At the same time, vacancy rates are extremely low at just 0.7 per cent, compared to 1.4 per cent in the Brisbane CBD."
The area is poised to remain undersupplied, with Mr Matusik finding few new apartments were expected to be released in the inner west in the short term, with just 240 new apartments to be launched by the end of 2012.
Apartment prices in Milton have recorded an 11.3 per cent per annum rise over the past decade to an average of $483,000, compared with an average growth of 5.6 per cent in the Brisbane CBD over the same period.
Ms Delfabbro said a range of apartment designs were on offer at The Milton, with prices starting from $379,000.
The north-facing Apartment Type O offers an elevated position from Level 14 and above.
Measuring 84 sq m, the floorplan includes two bedroom and two bathrooms, with full height glazed windows in all bedrooms and living areas allowing the views to be enjoyed from throughout.
Residents have access to resort-style facilities, including a pool, gymnasium, residents lounge, landscaped barbeque retreats, sauna and a roof top sky deck on level 31.
A ground floor retail precinct, adding to the vibrant mix already on offer at Park Road, will also be developed as part of The Milton.