Woolloongabba continues to build on its reputation as Brisbane’s gentrification hub, following strong interest and subsequent sales of off-the-plan apartments in New Deshon.
New Deshon is the second tower to be developed in the South City Tower project, which will blend residential, retail and entertainment development. The first tower released to the market, One South City, sold out late in 2015.
Positioned on the fringe of Woolloongabba’s traditionally industrial eastern fringe, the project has attracted a blend of buyers looking for one, two or three-bedroom apartments.
The Queensland development manager at the helm of the Pellicano-led project, Michael Kent, has cited young professionals as the dominant demographic of the development’s new buyers, with their focus on securing predominately two bedroom + two bathroom apartments.
First homebuyers have also been active in the Woolloongabba apartment market, seeking one-bedroom properties, while the three-bedroom apartments have been more popular with ‘empty nesters’ or those whose children are beginning tertiary study.
Woolloongabba is undergoing a flurry of development as developers and buyers alike see potential in its inner-city position, ample amenities and relatively low entry prices on comparison to geographically similar Brisbane suburbs.