Queensland property developer Honeycombes Property Group announced the launch of 'Eight on Thomas' – a development targeting the local north side community in the retail epicentre of Chermside.

Rising 12 storeys, Eight on Thomas offers 104 one, two and three-bedroom open-plan living residences above a ground-floor and mezzanine retail level.

Honeycombes Property Group Managing Director Peter Honeycombe said the project ticks all the boxes, including location, generous apartment sizing, resident amenity as well as a "superior level of finish".

“Chermside offers a wealth of lifestyle amenity and connectivity, the area is one of the largest employment nodes on the north side and, being situated only 15 minutes from Brisbane’s CBD, it’s the ideal location for both first home buyers and downsizers,” Mr Honeycombe said.

Eight on Thomas, located directly across the road from the Westfield Chermside Shopping Centre which is currently undergoing a $355 million redevelopment to make it the largest in Queensland, combines the convenience of the city with the serenity of the suburbs.

“At Eight on Thomas, we identified a gap in the market for a two-bedroom plus multi-purpose room apartment," Mr Honeycombe said.

“Not only did we include this unique apartment type in our mix, but when enquiry and demand for it spiked we reconfigured the project to offer more.

“The convenience of the multi-purpose room provides residents with a number of opportunities such as a media room, work-from- home study or even a spare room to accommodate guests.

The latest Urbis Market Outlook for Chermside revealed the current population will grow by 7,695 new residents between now and 2036.

“Strong population growth coupled with increasing employment is expected to continue to drive residential dwelling demand in the Chermside catchment,” Mr Honeycombe said.

The report said 29 per cent of the population are Generation Y residents who are sure to bolster Brisbane’s continuing urbanisation. Employment in the Chermside catchment is also expected to increase annually by 1.7 per cent to reach a total of 24,128 job opportunities.

Ray White Director of Project and Investment Elisa McMahon said she was expecting Eight on Thomas to particularly appeal to downsizers.

“Eight on Thomas is a project that presents downsizers with the opportunity to enjoy the convenience of apartment living without compromising space, comfort and high quality finishes,” she said.

Eight on Thomas features a resort-style landscaped pool and a residents-only recreation deck and private lounge.

Construction is anticipated to commence mid-2017.