Sales Soar Away
THE upper floors of The Milton are proving popular, with more than $17.9 million in off-the-plan sales achieved for apartments on the top 10 levels of the complex.
The higher levels of the 30-floor tower offer views across the city and river.
Apartments within The Milton are priced from $369,000 and at completion the FKP development will comprise 298 one and two-bedroom apartments, along with a ground floor retail promenade and commercial office space.
The recent sales trend at The Milton supports research by Matusik Property Insights director Michael Matusik 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.
FKP executive general manager residential communities Evian Delfabbro said buyers were securing their apartments early to ensure they get their pick.
"Although apartments are available in the $300,000s, we have achieved 18 sales at $850,000 or above, which is an exceptional result," Ms Delfabbro said. "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. "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 apartments had attracted buyers looking to make the move from a home, upgrade to a new development or secure an investment opportunity.
"Its location in an established precinct will put residents above a range of retail amenities, transport infrastructure, bikeways and walkways, entertainment options and parkland," she said. It is close to Park Rd's restaurants and Suncorp Stadium with Milton railway station at the door.