Milton Outperforms Market
THE MILTON continues to be one of Brisbane’s fastest and most consistently selling new developments, notching up a total of 60 sales over the past five months alone.
Total sales at the Milton project have now topped 145, with $85 million worth of apartments snapped up by buyers, particularly those already living within a five kilometre radius, who have identified Milton as a potential hotspot for 2012.
FKP Head of Queensland Developments, Gary Kordic, said with an average of 12 sales a month over the past five months, or about 3 sales a week, The Milton had solidified its position as one of Brisbane’s most popular off-the-plan developments.
“The contemporary design of The Milton is one factor appealing to buyers, but they are looking beyond that, particularly in the current market, to the strong fundamentals underpinning property in the area,” he said.
“They see Milton as a great opportunity, with the suburb recording a median annual price increase of 12.3 per cent over the past 10 years, its extremely low vacancy rates sitting at just 0.7 per cent and the unparalleled level of amenity on offer.
“The Milton really does tick all the boxes and, as a result, we have been consistently receiving new sales and interest and expect 2012 to be another strong year for the development, particularly with construction scheduled to commence mid-year.”
The Milton, being developed by diversified property group FKP, will comprise 298 apartments, along with resort style facilities including a leisure deck with a pool and barbeques and roof top observation deck.
Designed by award-winning Queensland architects, DBI Design, the cutting-edge project is Brisbane’s first major integrated Transit Oriented Development (TOD) under the South East Queensland Regional Plan.Marketing agent Bryce O’Connor, of 360 Project Marketing, said as such, The Milton would offer residents a new level of access to public transport and lifestyle amenities.
“The Milton is the only project of its kind being offered in the Brisbane market, which is appealing to buyers who want to be at the forefront of apartment living in the city and enjoy the convenience it offers,” he said.
“Residents will be well connected via public transport links, with the Milton Railway Station at the doorstep, meaning they can easily get around the city without having to worry about a car or traffic hassles.
“They are also situated at the heart of a range of amenities and services, with The Milton just steps from Park Road’s restaurants and cafés and Milton’s business park precincts.”
Mr O’Connor said Milton remained one of Brisbane’s most highly sought after suburbs.
“Milton has long appealed to buyers because of its proximity to the Brisbane CBD, which is just two train stops away, along with its leafy streets and range of dining and entertainment options, including Suncorp Stadium,” he said.
“At the same time, there have been limited opportunities to secure new property in the suburb, with The Milton the only major apartment development to be launched in Milton since 2005.
”The development is meeting pent-up demand from those who have been looking to purchase a new property in Milton, along with investors who recognise the constrained level of new stock will help to underpin their purchase over the long term.”
“With 1 and 2 bedroom apartments available, The Milton is appealing to both local purchasers and investors from right around Australia keen to take advantage of this opportunity,” he said.
The Milton Sales Centre, at 55 Railway Terrace in Milton, features a display apartment and is open between 10am and 4pm daily.