Mirvac's Residential Development Sells Out With $280m In Sales

Mirvac is proud to announce that its Brisbane riverfront apartment community, Tennyson Reach, has sold out, achieving more than $280 million in sales since its initial launch.

The development has recorded more than $9.9 million in sales since the start of the year, with the final six apartments snapped up for an average of $1.65 million.

Tennyson Reach comprises a total of 207 apartments across three buildings and is situated on the Brisbane River just eight kilometres from the CBD.

Tennyson Reach is located alongside the State Tennis Centre and the multi award-winning Ken Fletcher Park, also developed by Mirvac, which won the Landscape Construction of the Year at the Queensland Landscape Construction Excellence Awards in 2013.

Mirvac's National Group Executive Residential Development, John Carfi, said Tennyson Reach had delivered high quality apartments to Brisbane's sought after inner-middle city ring.

He said, in particular, it had appealed to buyers who already knew and loved the area.

"The majority of Tennyson Reach purchasers came from suburbs in the immediate area and many have lived in the neighbourhood for a long time," he said.

"These buyers were generally downsizing from their family home and wanted a low maintenance alternative without compromising on lifestyle.

"It has also appealed to professionals wanting to be close to the city, while enjoying the lifestyle that comes with a community that has the river and parkland at it’s doorstep."

Tennyson Reach is the third Mirvac development in Queensland to sell out in the last nine months.

The other two include masterplanned community Mossvale on Manly in East Brisbane, which sold out in May, and $350 million island community Ephraim Island on the Gold Coast, which sold out in January.

Mirvac has recently launched two new projects, Unison, the next stage of its sought-after Waterfront Newstead community, and Art House in South Brisbane.