Milton Real Estate News TV
The Milton on Real Estate News TV
Australia's third largest city, Brisbane, has grown from a big country town to a legitimate cosmopolitan city in recent years. And with the recently large, hugely successful $210 million development, offering 300 apartments, it's about to become the place to invest.
Milton Realestate News Video Transcription
Milton is a suburb two kilometres from the CBD. It's an established area. It's very, very central to Caxton Stree, Suncorp Stadium. You've got the university is very close and schools.
It's a mixed use development. So as well as the residential apartments, we have commercial office spaces, restaurants, shops, and a supermarket. So everything that you would need, throughout the day, for your life, could be occupied within this one building. You would never need to leave.
Well, I suppose the most important thing to understand about this project is it's part of a change that's occurring at Brisbane at the moment, where people are starting to understand the advantages of living in inner city areas. Particularly areas like this, in Milton, where you've got such fantastic access to public transport, you've got access to great restaurants, everything you need within a couple of minutes walk. And that really saves people so much time on their day-to-day lives and also facilitates a wonderful lifestyle.
The area is already great. This can only make it boom. I've been here 22 years just waiting for this to happen.
Milton is a great place to live because it's very peaceful. People are nice in the area. You feel safe.
DBI Design work internationally, and we cover the fields of architecture, interior design, and landscape design. Of all of our projects, including projects across the world, The Milton has been one of the most exciting to be involved in. We're particularly excited to be involved with FKP, as one of the preeminent developers.
The main consideration of the design of the apartments, of course, has been the views. The views to the city are spectacular. The views to the south over the river are beautiful, and then we've got the northern aspect out to the Bay and to Mount Coot-tha. So it's all about enjoying the view. Floor to ceiling glass, full width, no obstructions, so you can make the most of the view, and let's be honest, in high-rise buildings, view is the most critical thing that people are looking for. We've created very, very large balconies. All the windows open up, so that there's a seamless connection from the balcony to the interior space, which makes the spaces feel more generous, but brings in this Queensland subtropical lifestyle that we all enjoy so much.
The kitchens are quite compact, but they're designed to be able to cook in with a group of people and enjoy having friends over for dinner.
Of the 298 apartments, half of them are one-bedders and the other half are two. The two bedroom apartments have the bedrooms divided by the living spaces. This allows for acoustic privacy and also allows the living areas to have a sense that they are contained. They don't have doorways and corridors coming off them. It also means the plan is much more efficient because you're not consuming valuable floor space for corridors. The bathrooms are very contemporary and very simple in their design, which will make them feel more spacious, but also more luxurious.
There are also private facilities. There's a large residence lounge area, which is fitted out with Armani furniture. There's a beautiful swimming pool with spectacular views back to the city skyline. So it is the kind of facility that would be unparallel in a building like this in Brisbane.
On top of the commercial podium, there's a level of landscape, and most of that faces north or faces back to the city to capture those city views. People are starting to understand the advantages of being located very close to public transport. In this project, where you have only one stop back to the city, it's probably one of the most convenient locations in Brisbane.
Brisbane is a great place to invest at the moment. It's the bottom of the cycle. It's got low vacancy rates, and things are starting to improve and particularly in the western flank of the city, where there's not enough apartments. In this project, The Milton, it's actually targeting a professional market, well designed units. It's one of the fastest growing areas in terms of resale values in Brisbane, and it compares well with other places in Australia. Over the last ten years, prices have exceeded ten percent per annum in this western corridor.
Research has shown that properties located around railway stations and transport hubs around the world increase in value more quickly than properties that are isolated from transport systems.
I would invest in it simply because I go downstairs and I'm off to work. Save the energy. So it's a great spot.
The median unit price in the Milton area is $540,000 thousand. Now, our entry level price point starts from $387,000, and we believe that is fantastic value.