$82 Million Townhouse Development in Brisbane
Brisbane-based development company Kinstone Group has this week received approval to construct a new $82 million townhouse development project in the high growth precinct of Rochedale in Brisbane’s south-east.
Known as Solaris, the Rochedale development will offer a range of 129 architecturally designed four-bedroom plus study, two-and-a-half bathroom townhomes priced from $589,000. The development will begin next month (November), coinciding with the opening of an on-site sales display.
Kinstone Group Project Manager James Chou said the new Solaris townhouse development will meet the growing demand for residency in the Rochedale region.
“Rochedale is a thriving area in outer Brisbane and we’re excited to begin developing a new luxury community that will respond to the region’s growth,” said Mr Chou.
The project is expected to be met with high demand from local owner-occupiers and will appeal to first home buyers able to take advantage of the state government’s $15,000 First Home Owners Grant. As a new home build, eligible buyers will also be able to receive the federal government’s $25,000 HomeBuilder grant.
The team at Brisbane-based CPO Architects have been appointed to the project, with the community’s landscaping work being undertaken by Wolter Consulting Group.
Each townhome will offer an internal double lock-up garage and master bedrooms equipped with an ensuite and walk-in robe. Around 30% of the homes will rise three storeys, while the remaining will be set over two. Residents will also enjoy a range of amenities on offer within the community including a gym, pool and barbecue facilities for residents and their guests to enjoy.
Rochdale itself has witnessed increasing growth, infrastructure and development activity in recent years, situated neatly just 17 kilometres south-east of the Brisbane CBD. Research undertaken by Colleen Coyne Property shows that the average four-bedroom house in Rochedale is priced upwards of $1 million, making the Solaris townhomes an affordable alternative in the marketplace. The average weekly rent of four-bedroom townhome is upwards of $600.
The research also shows a shift in the buyer demographic in the area with more local owner-occupiers now purchasing in Rochedale compared to interstate investors.
“The location and price point of the townhomes in Solaris, combined with the range of government incentives on offer, makes the project one that is set to appeal to young couples and families looking to enter the property market,” said Mr Chou.
Solaris Rochedale will join a diverse portfolio at Kinstone Group, alongside notable projects such as the $70 million Novotel South Brisbane, the Monarch and Sovereign Heights subdivision developments in Brisbane’s South, and Serenity 4212, a $650 million joint venture master-planned community in the northern Gold Coast.