Fortitude Valley's Flatiron, Brisbane strong off the plan sales

Melbourne property developer Tim Gurner has sold 607 of the 651 apartments offered in the past 12 weeks at his Brisbane project, the $600 million FV project in Fortitude Valley.

Stage one, the Flatiron building, quickly sold so the second stage, Valley House, offering was brought forward.

“We have now sold in twelve weeks what we expected to achieve in 12 months,” Mr GURNER told The Australian Financial Review.

“We had two consecutive weeks where the team sold over 180 ­apartments per week, and many weeks where we have done between 50 to 100 deals.”

Owner-occupiers make up about 25%  of buyers in the Elenberg Fraser-designed GURNER project. About 12% have been sold offshore.

First home buyers have snapped up $360,000 plus apartments and downsizers have paid up to $1.8 million for penthouses.

The penthouses had sold for about $15,000 per square metre.

Stage three will be released early next year, around the time construction begins.

Featuring 810 one, two and three bedroom apartments, a 90 room 4.5 star hotel, 3,000 square metre residents-only private club and a ground floor retail precinct, the $600 million project is GURNER’s first Brisbane development.

Images supplied.

The initial 185 one bedroom Flatiron apartments, from 50 square metres to 65 square metres, prices from $360,000 to $520,000.

For one of the 165 two-bedroom apartments, from 68 square metres to 81 square metres, you will be paying $575,000 to $780,000.

Lastly, four penthouse sized apartments from 125 square metres to 170 square metres are available from $1.45 million to $1.95 million.

The $2 million display suite is located at 147 Alfred Street, Fortitude Valley.