Pyco Moves Ahead with West End Apartment Plans
Pyco Group is pushing forward its West End apartment development Atelier after appointing a builder.
The 36-unit block will replace the former Brisbane Backpackers site at 110 Vulture Street.
The Brisbane City Council approved the development in October 2022 and Pyco has appointed Brick Construction to begin work in February, 2024.
Atelier will have multi-level apartments throughout, all three-bedroom vertical terraces.
Pyco said the DAH Architecture-designed apartments were a “modern take on Brisbane’s iconic Queenslander” and would start at $2.1 million, with rooftop apartments from $2.8 million.
According to a popular real estate listing website, median three-bedroom unit prices in Brisbane’s West End sit around $1.2 million.
Property marketing company YPM Group said that 80 per cent of the Atelier residences were sold.
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Sydney-based Pyco Group has turned its attention to Brisbane in recent years with Atelier as well as The Bailey, another West End project, which it completed to deliver 26 boutique two and three-bedroom apartments.
Brisbane has been undergoing changes ahead of the 2032 Olympics, with developers focusing on boutique apartments such as OpenCorp’s 11-storey Albion twin tower residential development and Fortis’s recently approved $100-million Kangaroo Point luxury apartment project.