Brisbane Apartment Plan Sets New Queensland Record, Selling 160 Homes In 240 Minutes

An artist’s impression of the Brisbane apartment development The Yard

Developer Lend Lease set a new local record over the weekend, selling 160 off-the-plan apartments in just 4 hours at a new project at Brisbane Showgrounds.

The Yards features 401 residences across a 16 level and another 18 level tower, as well as 11 terraces. The first release is a 208-apartment tower, North Yard.

Prices ranged from $375,000 for a one-bedroom apartment to $702,500 for a two-bedroom, two-bathroom apartment.

Brisbane Showgrounds project director, Andrew Hay said sales were launched concurrently in Brisbane and Sydney and 87% of buyers were from onshore.

“We believe buyers are attracted to the newly-launched King Street, our food-focused high street, the strength of the Lend Lease brand and the unique amenity provided on The Yards’ podium retreat,” he said. “We’re especially pleased considering the current competitiveness in the Brisbane market.”

Hay said the sales success led the company to bring forward the release of the next tower, South Yard, by three months.

The Yards is expected to commence construction mid-2015. The first residential apartments at the showgrounds, The Green, are sold out and currently under construction to be completed by mid-2015.

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