Madison Heights development sells 80% of stock

Metro Development’s Madison Heights project has reached $105 million in sales, after settling 246 of its 308 apartments in five weeks.

The Bowen Hills apartment complex was developed by Metro Property Development in conjunction with Pearls Australasia. The development, set over 30 storeys, also includes 760 square metres of retail and dining space in addition to outdoor entertaining areas.

Metro Property Development’s managing director Luke Hartman noted the importance of Madison Height’s location in Brisbane’s growing market.

“Although the Brisbane market is picking up, quality apartments in the inner-city are still a rare commodity,” he said.

According to Hartman, the project’s situation in Bowen Hills has also attracted retailers, with IGA, Subway and liquor retailer Cellabrations signing long term leases.

jrichardson@propertyobserver.com.au

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