Mirvac prepare next Ascot Green apartment building after selling out Charlton House

Local buyers have led the race for luxury apartments and villas in the latest stage of Mirvac's racecourse-fronting community, Ascot Green. The $129 million in sales has prompted the ASX-listed developer to start taking registrations of interest for the next building.

All available apartments in Ascot Green’s third stage, Charlton House, which is under construction and anticipated for completion in mid-2024, have sold, proving the ongoing appetite for modern living in inner-Brisbane.

Buyers in the 14-level development, which will be situated directly adjacent to Eagle Farm Racecourse and at the doorstep of Ascot’s vibrant shopping and dining village, have predominately been locals looking to upgrade and downsize, along with former Brisbane residents moving back to their hometown.

Mirvac General Manager Residential Queensland, Warwick Bible, said the sales result at Charlton House demonstrated the strength of the market, with the average apartment sale $1.29 million.

“Families were quick to secure the elevated three and four-bedroom villas and apartments; downsizers and empty-nesters have loved the two-bedders and first home buyers have snapped up single bedroom apartments,” he said.

“First home buyers like the affordability of the one-bedroom apartments coupled with the rooftop facilities and communal dining areas which they can use as an extension of their home for entertaining and relaxing.

“These exceptional facilities including gym, pool, barbecues, rooftop dining with panoramic views, and extensive sub-tropical landscaping are a drawcard for all buyers as they add value to their investment and their lifestyle.

“We already have a number of purchasers registering their interest for the next stage, so are encouraging anyone who is interested in finding out more to get in touch so they don’t miss out.”

The team is also already fielding strong rental enquiries for Charlton House, with the building to feature onsite management.

With the first two stages of Ascot Green – Ascot House and Tulloch House - complete and sold-out, some Charlton House buyers have already experienced life at the community while visiting friends and family.

Celestine Frost purchased a three-bedroom villa in Charlton House, sparked by first hand knowledge about the benefits of living in Mirvac’s masterplanned communities.

Frost’s aunt lives in Ascot House, while her parents live in Mirvac’s Waterfront Newstead, on the Brisbane River in Newstead.

“I have known the Mirvac brand for many years through family who’ve owned in various communities, so I was confident buying in Ascot Green,” Frost said.

“I am currently living in the Waterfront Newstead precinct which confirms what I knew of Mirvac in terms of producing quality homes with generous inclusions and great facilities.

“My aunt already lives in an earlier stage of Ascot Green and spoke very favourably about the location, so it was an easy choice for me.”

Another of Frost’s relatives will also move into Charlton House once it is completed in mid-2024, motivated by family recommendations.

As a single mother who works full-time, Frost was looking for a new home that was easy to maintain, while having the benefits of a large family house.

“Our villa is a good alternative between a house and an apartment,” she said.

“We have the benefit of walking directly outside to the lawn, we are close to the pool and have a separate garage with direct access to our villa.

“We have all the perks without the maintenance, including a gym and entertaining area I can use for my daughter’s parties and spending time with family and friends.

“We also have two balconies that look out to the track and my aunt loves seeing the horses training in the mornings, which I know my daughter will love also.”

Charlton House is part of Brisbane Racing Club’s $1.2 billion masterplan redevelopment of Eagle Farm.

On completion, Charlton House will feature 112 one, two, three and four-bedroom apartments, including a limited collection of three and four-bedroom villas with direct access and sweeping views of the greens, or views of the city.