![]() ![]() Impact of COVID-19 on Brisbane Apartment market.The project is expected to take approximately five years to complete." On completion Central Village will comprise five towers and approximately 970 apartments. In a release earlier this month, Metro said it had sold 80% of the 160 apartments in Oxford Towers, stage two of the project, with one and two bedroom apartments ranging from $275,000 to $575,000. Now under construction, Metro had sold 92 out of 165 units in the development as of the end of the March quarter. "Devine’s Metro Property Development group recorded 67 off-the-plan sales over the March quarter for Cambridge Towers, the first stage of its $450 million Central Village development in Fortitude Valley making it the top seller by some margin, according to the latest inner Brisbane apartment update from Colliers International. Although they are marketed as luxury apartments, in my view, they are small, basic apartments, targeted at foreign investors who cannot buy existing apartments due to FIRB rules. As reported today in Property Observer, Metro has been hugely successful in its Valley developments. He must be super happy with the sales of Metro's off-the-plan apartments in the Valley. He was leaving his Mirvac penthouse and heading in the direction of the Valley. Last week, Ken Woodley, marketing director of Metro Property Group, zoomed past me in his Jaguar. ![]()
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