Live the High Life at The Milton
Premium apartments on the upper levels of The Milton are achieving in excess of $900,000, as buyers look for a prime position at the top of what will be the first residential address above 10 levels in the sought after inner west suburb of Milton.
More that $17.9 million worth of off-the-plan sales have been secured across the top ten levels of the 30-level project alone, which will offer unparalleled views across the city and Brisbane River from the suburb.
While apartments in The Milton, being developed by FKP adjacent to Milton Railway Station, start from $369,000, the unique opportunity to secure a home at such a height in Milton has been luring buyers to the premium abodes.
The sales are in line with research by Michael Matusik, director of Matusik Property Insights, which found views add considerable value to residential property, with those that take in uninterrupted views of the city skyline worth a 20 to 25 per cent premium.
Evian Delfabbro, FKP Executive General Manager Residential Communities, said buyers were looking to get in now to secure their pick of apartment at the top of the development.
"Although apartments are available in the $300,000s, we have achieved 18 sales at $850,000 or above, which is an exceptional result," said Ms Delfabbro.
"Those purchasing these apartments recognise the value of paying a premium for an elevated position with some taking in views of the city, river and mountains, including Mt Coo-Tha.
"It is extremely rare, particularly for new stock currently on the market, to take in all three view aspects and, as the only apartment development currently zoned for 30 levels in Milton, buyers recognise there is a limited chance to secure an apartment like this.
"They have been particularly popular with those already living within a 10 kilometre radius and wanting a higher location and position near public transport and lifestyle amenities."
Mr Delfabbro said apartments in The Milton had attracted buyers looking to make the move from a home, upgrade to a new and cutting edge development or secure an investment opportunity.
"The Milton is attractive to those looking to downsize and put more emphasis on enjoying life," she said.
"Its location in an established precinct will put residents above a range of retail amenities, transport infrastructure, bikeways and walkways, entertainment options and parkland.
"They will have front door access to the train station, with Park Road's restaurant and cafe strip, the Brisbane River, Suncorp Stadium and the city all in easy reach.
"They can choose to relax and take in the views above it all after a day at work and if they want to go away, they have the security to lock and leave their apartment.
"The apartments are also larger than many others currently on the market and have been cleverly designed so all bedrooms, living and dining areas take in the views."
Ms Delfabbro said the nearby amenities were complemented by the range of on-site facilities, including pool and barbecue areas.
"All these aspects are also appealing to investors, as is the lack of new stock and relatively low vacancy rates in Milton," she said.
On completion, The Milton will feature 298 one and two bedroom apartments, along with a ground floor retail promenade and commercial office space.
For further information, visit The Milton Sales Centre at 55 Railway Terrace, open 10am to 4pm daily, www.themilton.com.au or call 1800 247 119.