Cedar, Greenslopes

A perfect combination of the existing building’s original heritage form juxtaposed with contemporary design, the brand new Stone & Co development is set to become a landmark development in the trendy suburb of Greenslopes, Brisbane.

 

Featuring one, two and three bedroom apartments all with balconies and parking, Stone & Co is situated near the popular Stone Corner Hotel, only 4km from the CBD and surrounded by cafes, parks, shops and transport options.

 

Spectacular outlooks to the north, east and west, the Stone & Co apartments are exceptional as either investments or as private residences.

Cedar, Greenslopes

Introduction

Location: Greenslopes, Brisbane
Project Description: 61 boutique apartments with a mixture of 1 and 2 bedrooms
Project Time Frame: November 2014 – May 2016

 

Featuring one and two bedroom apartments with large terraces and spectacular outlooks to the north, east and west, the Cedar apartments are exceptional as investments and outstanding as private residences.

 

Located on Hanlon park site and surrounded by wide, tree lined streets, Cedar is positioned moments from bustling Stones Corner.

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Location

Brisbane Market

Brisbane Market

Brisbane is one of the world’s largest municipalities by area. It is home to 2.15 million people and has a job market that is growing at more than twice the rate of population growth.

 

Over the past decade, the city has sustained the fastest employment growth of all Australian capital cities. It is anticipated that over the next two decades Brisbane will be regarded as a top ten lifestyle city and global economic hub.

  • Brisbane is forecast to grow faster than any other mature world city.
  • Over the past decade Brisbane has witnessed the delivery of a significant level of infrastructure which is widely recognised as being the most innovative and effective infrastructure programs in the nation.
  • The release of the Queensland Infrastructure Plan and Program 2011-2031 identifies $134 billion worth of infrastructure investment for Brisbane and its surrounding region.The program represents the largest public infrastructure spending initiative in Australian history.
  • The redevelopment of Brisbane’s Central Business District will be the most significant privately and publicly funded redevelopment in the CBD’s history. (Super scale CBD redevelopment).
  • Moving forward Brisbane is projected to experience the highest rates of population growth when compared with the eastern states of New South Wales and Victoria and their respective capital cities.
  • By 2031 Brisbane there is a forecast requirement for 400,000 new dwellings to house the City’s rapidly growing population.
  • Queensland’s average infrastructure spend over the past ten years is 75% higher than the average of other states and territories combined.
  • Queensland currently ranks as one of the most undersupplied dwelling markets in the country.
  • Brisbane’s apartment market has demonstrated itself to be one of the most resilient markets in the nation.
  • The latest data shows that as at December quarter 2013, Brisbane ranked as the third most affordable apartment market in Australia.
  • According to the latest data provided by the Real Estate Institute of Australia, Brisbane’s average annual return over the past ten years has outperformed returns achieved in both Sydney and Melbourne.*
  • $135 billion economy. $213 billion by 2031.

*Resolution Research

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Greenslopes Profile

Greenslopes

The suburb of Greenslopes is located 4.5 kilometres south-east of the Brisbane Central Business District (CBD). The dwelling landscape is diverse with a mix of tin and timber Queenslander homes, older six-pack style developments and more modern medium density developments. The suburb is bordered to the west by large tracts of open space and Norman Creek.

 

Demand for dwellings within the suburb is principally driven by young, affluent professionals with a demonstrating willingness and ability to pay above average rents.

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Population & Demographics

Demand for rental dwellings within the suburb is particularly strong with 56% of all dwellings1 occupied by renters. This tenure profile is significantly higher than that recorded throughout Queensland at the time of the 2011 Census of 34%.

 

Apartment living in the suburb is well supported, accounting for almost half (49%) of all dwellings within Greenslopes, which is 37% higher than that recorded throughout Queensland.

 

The suburb’s resident population is typically affluent and well educated, with almost half (44%) working in professional or managerial occupations. The median weekly personal income of resident’s in the area is 27% (or $180) per week higher than the State’s.

 

The primary implication of this is that dwelling demand in the area is typically stemming from younger, affluent professionals looking to occupy one and two bedroom apartment types.

 

At the time of undertaking this research, the suburb’s rental market was recording a high gross rental yield of 5.5%. Demand for rental dwellings appears to be outstripping supply with a prevailing vacancy rate of 2.8%.

 

1ABS – excluding other tenure / tenure not stated

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Infrastructure & Employment

Greenslopes is one of Brisbane’s most accessible suburbs with a large volume of transport infrastructure in place providing a high level of connectivity to surrounding amenities and major employment nodes throughout South East Queensland.

 

The South East Busway forms part of a 25 kilometre bus-only rapid transport network of Busways which connects Greenslopes and surrounding suburbs through Brisbane to Brisbane’s CBD, major shopping centres, employment nodes.

 

The South East Busway has a station in Greenslopes which is serviced by a number of bus routes. Travel time to the CBD (King George Square Station) is ten minutes during peak periods and fifteen minutes in off peak periods.

 

Buranda Station is the next inbound station from Greenslopes on the South East Busway route. Buranda Station provides connections with both the Eastern Busway running from Coorparoo to the University of Queensland and the Queensland Rail network. Buranda Station is strategicallylocated within walking distance from the PA Hospital, one of largest health employers in the State.

 

The 670 bed Greenslopes Private Hospital is a major driver of dwelling demand in the area. The hospital provides an extensive range of inpatient, outpatient and critical care services. The Hospital is the leading private teaching hospital in Australia and provides a range of clinic services including cardiology, intensive care, orthopaedic, maternity, neurology and general surgery.

 

The suburb is also situated within close proximity of the state’s major health employment node – the Inner South Health Precinct containing the Mater and Princess Alexandra Hospitals. The precinct is estimated to have a base workforce of more than 15,000 persons.

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Retail Amenity

The Greenslopes Mall is centrally located within the suburb and services the everyday needs of the local community. The Mall is home to a large Coles Supermarket and 30 speciality stores. The Mall is currently undergoing a major refurbishment and expansion which will not only enhance the retail offering but will provide a more modern shopping facility for residents of the area.

 

The Stones Corner Village is within walking distance of Greenslopes and is widely recognised as one of inner Brisbane’s unique retail and lifestyle precincts. The Village contains a diverse range of speciality retailers including gourmet food purveyors, health and medical services, restaurants, cafes and an Aldi supermarket. The Stones Corner Hotel hosts the annual Cider and Beer Festival which brings together the local community in a festive and relaxed
environment.

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Recreational Amenity

Greenslopes is widely recognised as one of inner Brisbane’s greener suburbs with large tracts of open space and parklands throughout. Norman Creek runs through the 5.6 hectare Thompson Estate Reserve which borders the suburb to the west providing a large buffer between the Pacific Motorway and residential dwellings located throughout the suburb. The Thompson Estate Reserve is a popular recreational destination for the local community
containing barbeques, a half court, a dedicated picnic area, a playground and soccer fields.

 

On the border between Greenslopes and Coorparoo sits Langlands Park which is one of the most utilised and popular sporting facilities in the local area. The Park is the home ground of Easts Leagues Club with a seating capacity of around 5,000 and containing two restaurants, gaming and entertainment rooms. The Park also houses the Langlands Park Memorial Pool containing a 50 metre pool, a 10 metre teaching pool and a semi-shaded wading
pool. The Park provides an expansive volume of open space, a large playground, picnic facilities and fitness stations.

 

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Education

Families and tertiary students within the area are afforded a diverse choice of educational facilities. More than fifteen childcare and preschools are located within Greenslopes and its immediate surrounds including the Greenslopes Child Care Centre, Goodstart Early Learning Coorparoo and C&K Stones Corner Community Kindergarten Inc.

 

A number of the State’s premier educational facilities are all located within a ten minute drive from Greenslopes
including The Anglican Church Grammar School, Somerville House, Villanova College and Loreto College. Additionally, more than 30 primary and secondary schools are located within the immediate catchment area.

 

Five kilometres from Greenslopes is the South Bank Institute of Technology which is one of the largest providers of Technical and Further Education in the state. The Institute is estimated to have a total enrolment of 30,000 students. Via the Eastern Busway, students are afforded direct access to the State’s premier universities – the University of Queensland and the Queensland University of Technology. Collectively, these three institutions have more than 85,000 students enrolled.

 

Not surprisingly, being within such close proximity to these major education nodes there is a high level of demand for dwellings within the area stemming from both students and academic staff.

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Apartments

Level Plans

Floor Plans

Schedule of Finishes

Schedule of Finishes

Kitchen

  • Quality 600x300mm floor tiles
  • Reconstituted stone bench top
  • Quality ceramic tile splashback
  • Laminate white gloss cabinetry with feature joinery
  • Soft closing hinges
  • Omega or equivalent stainless steel dishwasher
  • Omega or equivalent stainless steel electric oven
  • 4 burner gas cooktop
  • Stainless steel slide out rangehood
  • Pantry with wire adjustable shelves
  • Single bowl stainless steel sink with chrome mixer in modern design

 

BATHROOM

  • Feature tiling
  • Reconstituted stone bench top
  • Soft closing hinges
  • Semi recessed white vitreous china basin
  • Single lever chrome mixer taps and fixed shower rose
  • Semi-frameless shower screen with pivot door

 

BEDROOMS

  • Wool blend carpet
  • Built in robes with wire shelf and chrome hanging rail
  • Built in robes with 1 x mirror sliding door and 1 x vinyl sliding door
  • White finish ceiling fan
  • Roller blinds

 

ENTRY, LIVING & DINING

  • Quality 600x300mm floor tiles
  • Surface mounted downlight fittings
  • White finish ceiling fan
  • Roller blinds

 

LAUNDRY

  • Quality ceramic tiles
  • 35 litre stainless steel tub
  • 4.5kg dryer

 

BALCONIES

  • Quality tiles
  • Aluminium framed glass/aluminium batton/solid balustrade (depending on
    level)

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Rental Apprisal

About Blue Sky

About Blue Sky

Blue Sky Private Real Estate (BSPRE) is an Australian based real estate investment company, which specialises in developing and managing Australian residential real estate assets. BSPRE is the property division of listed alternative fund manager, Blue Sky Alternative Investments Limited (ASX:BLA).

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