Pellicano Managing Director, Nando Pellicano, says the fundamentals of a quality project including location, services and value for money still drive demand in the property market. “For us, Brisbane is not a short term investment. We’ve been in Melbourne for 49 years, and in Brisbane for 19. We foresee substantial growth and opportunity to come in select areas of Brisbane including Woolloongabba due to its proximity to the CBD and attractive existing lifestyle,” Mr Pellicano said.
Trafalgar Lane is a twenty-storey development featuring 147 apartments designed by architecture firm DBI Design. Twenty percent of these residences were purchased by owner-occupiers, with investors snapping up the remaining 80 per cent. The majority of the tenants are young professionals in the immediate area or in the Brisbane CBD, which is only a two kilometre trip away from the development.
Research by Think Tank Urbis in March indicated that employment in the Woolloongabba area is set to increase by 3.9 per cent per annum over the next twenty years. This makes the suburb a prime investment opportunity for young professionals.
“The rental demographic in Woolloongabba is overwhelmingly focused on people in their mid-20s to late-30s, with generally higher than average incomes,” said Mr Pellicano.
The one or two bedroom apartments feature a modern design with floor-to-ceiling windows providing views across the Gabba to the Brisbane River and CBD. Trafalgar Lane residents enjoy access to the Trafalgar Residences Retreat, which includes a lap pool, spa, sauna, steam room, gym, yoga lawn, residents’ lounge, barbecue area and media lounge. The development also includes a laneway providing access to Stanley and Trafalgar Streets where the project is located.
“We worked hard to create a distinct ambience for the laneway, which features raw timber finishes and exposed piping to create an industrial feel,” Mr Pellicano said.
Mr Pellicano said the fit out of the Trafalgar Lane development reflects Woolloongabba’s transformation from an industrial hub to a true lifestyle destination.
Words by Meg Gillespie
Images provided by Papermill Media