The $41.6million “Zahra” development at 55 Oxlade Drive New Farm consisting of 22 luxury units with river and city views has proven attractive to established buyers, with multiple sales notched since its launch just weeks ago.
At the project’s core is “quality and durability” through its “minimalist” approach, according to its developers Spyre Group.
Prices for the luxury apartments range from $1.35million to $5 million and, according to Place Kangaroo Point’s Simon Caulfield, six apartments have been sold in the past three weeks with the top sale price so far reaching $3.6 million.
The project consists a 5-storey residential apartment development and has been designed to include a formal lounge and caterer’s kitchen, theatre, games room and bar, and a Zen Garden overlooking the Brisbane River.
Zahra’s marketing agent Mr Caulfield said the development represented a unique location.
“Located at New Farm’s number one address, this highly desirable and sophisticated building has attracted interest from some of Brisbane’s elite purchasers.
“The design, flexibility in layouts, high level of finishes and fixtures, river and city views, exclusivity of 3 to 4 neighbours in the building and first high end development in Oxlade Drive, the response has been hot,” Mr Caulfield said.
“With over 100 inspections in the first three weeks, Zahra has to be seen to be believed,” Mr Caulfield concluded.
Spyre Group secured the 2,259 sqm site at 55 Oxlade Drive for $7.2 million in an unconditional settled in late 2016 through JLL. The Oxlade Drive site was previously occupied by a four-level commercial building leased by Cerebal Palsy Queensland.
Who is Zahra?
“Zahra is elusive, chic, accomplished, elegant and admired.
Above all, Zahra is the driver of her own destiny.
Her friends? Like-minded women for whom New Farm is a hub of social life and joie de vivre.
They come from all walks of life and mix in many and varied circles.
But they have one thing in common — a sense of place.
Zahra lives at 55 Oxlade Drive New Farm.
An architectural vision brought to life in our hearts and imaginations.” -Spyre Group
Zahra’s development application was lodged with the Brisbane City Council on 27 January 2016. Its website said operational works are expected to be granted prior to works being scheduled for commencement in December 2016.
Living, dining and kitchen spaces are open plan, generous and efficiently designed to maximise the river and city views while kitchens feature timber veneer cabinetry, fine bronze metal detailing and calacatta porcelain stoneware slabs for splashbacks and benchtops, plus Gaggenau appliances.
Zahra’s project partners include Cottee Parker Architects, Dunn & Moran Lanscape Architects and Cotteee Parker Interiors.
The project is scheduled for completion in 2018.