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Brisbane West End Vida development 95% sold including $8.9 million in penthouse sales

Brisbane West End Vida development 95% sold including $8.9 million in penthouse sales
Brisbane West End Vida development 95% sold including $8.9 million in penthouse sales

Three penthouses have sold off-the-plan in the West End riverfront development Vida, totaling $8.9 million in sales and knocking the development up to 95% sold.

The $100 million development by private developer Pointcorp has one dual-level penthouse remaining, priced from $3 million.

Nearly all of the four-bedroom apartments have been snapped up between $1.55 million to $1.72 million and a range of three-bedroom apartments have sold between $1.25 million to $1.4 million.

"We have sold 12 apartments for in excess of $1.25 million in a matter of months," says Pointcorp sales and marketing manager Sam Patterson

"That is in stark contrast to the demand that has been experienced in Brisbane over the past few years, with the majority of interest targeted toward smaller, entry level apartments.

"As a result, most new developments released in recent times have catered to this market, so to have this type of success with a project that is specifically designed for those wanting a larger apartment with the highest quality fittings and finishes is a real sign the market has begun to shift,” says Patterson.

All three penthouses were sold to owner-occupiers.

"Each of our apartment types has been designed with a significantly larger floor plan than the average apartment in Brisbane, making them appealing to those who want to live in their apartment, and the position on the river, so close to the CBD and in West End adds to the appeal.

"While West End has long been renowned for being a 'trendy' area to visit, it is really still emerging as a residential hot spot.

“Savvy buyers have recognised this and are looking to secure their place now to take advantage of its urban renewal,” says Patterson.

Designed by Cottee Park, Vida comprises of 148 apartments across two 12-level riverfront buildings.

Remaining apartments are priced from $409,000 to $3 million.

Viva was released to the public in June, with construction to start later this year.

The median apartment price in West End is $220,000, a 25.2% decline in the past five years, according to RP Data.

Nicola Trotman

Nicola Trotman

With a penchant for the written word, Nicola has built a career doing just this – now Creative Director at thriving Melbourne-based PR agency, Greenpoint Media.

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