The Capitol Apartments

September 3rd 2011

Cash flows towards The Capitol.

SALES at The Capitol Apartments have topped $30 million as investors and owner-occupiers look to take advantage of the urban renewal underway in South Brisbane. The $40 million project recorded more than $9.2 million in sales during the June quarter, with 19 one and two bedroom apartments secured by a mix of investors and owner-occupiers for between $380,000 and $655,000. Construction is expected to commence on the project, being developed by Forrester Properties, later this year. The boutique 10-level project will comprise 77 one and two-bedroom apartments, a restaurant and lounge bar, and resort-style facilities including lap pool, gymnasium, steam room and outdoor leisure area. 360 Project Marketing regional sales manager Bryce O’Connor said buyers were keen to secure their position in the South Brisbane precinct. ‘‘South Brisbane really ticks all the boxes for buyers. Its central location, just across the river from the CBD, makes it easily accessible for those who work in the city and it is also well serviced by public transport,’’ he said. On completion, The Capitol Apartments will be managed by Forrester Properties, adding to its South Brisbane portfolio of projects. Forrester Properties director Tom Forrester said the company had already developed, and now manages, the 11-level mixed-use South Central, also situated on Peel St. ‘‘The project will also add to the great mix of facilities already on offer in this precinct, with its own restaurant and lounge bar, and residents and visitors will have exclusive access to their own on-site resort facilities,’’ Mr Forrester said. Remaining one-bedroom apartments are priced from $390,000, with two-bedroom apartments starting from $553,000.