Spyre Newsletter October 2022
Welcome to our October Edition of Spyre Group's monthly update, where we share our latest Market Insights, Construction Updates and Project Releases from the last month.
MARKET INSIGHTS
While headlines continue to propagate a property price downturn, the proof lies in the numbers which show that the River City continues to hold strong against its capital city counterparts well into the second half of the calendar year.
In New Farm alone, the median house price has increased to $2.675 million - a staggering $150k jump from the average prices recorded in September of this year.
With an estimate of just 2 months worth of off the plan apartment supply currently available based on existing sales rates, Brisbane's apartment market will continue to remain extremely buoyant, particularly in the prestige property space where it is estimated that 75% of existing on market, off the plan projects are already under contract.
The price tag of premium, multi-dwelling apartments in Brisbane by comparison to those in Sydney reveal a 41% price gap on average. This, paired with an incoming drought in supply, should provide encouragement to prospective purchasers looking for their next luxury residence that the time to act is now.
As Spyre gears up to launch our next instalment of our House Collection - six premium homes on New Farm's best riverfront address - acting as an urban sister to Burleigh's Glasshouse - the value proposition of these residences couldn't be more clear. To register your interest prior to market release click HERE.
IN THE PRESS
"First Look at Arc - The Latest in the Realm of Luxury Properties in Australia"
DEVELOPING QUEENSLAND MAGAZINE
14 October 2022
The River City is on track to becoming the ultimate destination for Australians seeking luxury with the announcement of Arc, an exquisite and rare riparian development coming to Brisbane.
With a keen eye and clear vision for realising the potential of unique locations, Spyre Group has been quietly carving their position as a driving force in luxury multi-residential property development.
The announcement of Arc follows the success of golden-child Glasshouse on the Gold Coast, the residence responsible for smashing off-the-plan records with the Burleigh penthouse selling for $20 mil in April earlier this year.
In a building like no other, Arc is designed to match the city of Brisbane and its landscape. Located at 570 Coronation Drive, on the apex of the Brisbane River in Toowong, Arc is the ultimate demonstration of Spyre Group's commitment to delivering homes in unrepeatable locations, said Kent Pinel, the design manager for Arc at Spyre Group.
Read the full article HERE.
"Spyre Group Plots Slender Tower in Coast Expansion"
THE URBAN DEVELOPER
26 September 2022
South-east Queensland developer Spyre Group continues its hot streak in Burleigh Heads, filing plans for a 17 storey slender apartment towner in the locale.
The 46 apartment building at 1871 Gold Coast Highway is around the corner from the developer's $77 million recently completed Natura development and follows the record-breaking $20 million sale of the penthouse in the Glasshouse development.
A 4 storey block of 12 apartments will make way for the development on the 1012sqm rectangular block. The DKO designed building draws on the Burleigh Headland as its key design inspiration.
Taking inspiration from the Burleigh headland, the protective dense vegetation of the rain forest and the filtered views is reflected in the buildings plan the report read.
Read the full article HERE.
SPYRE MISSION
Earlier this month, Spyre Group were extremely proud to sponsor Common Ground Queensland's 10 year anniversary event.
Common Ground Queensland (CGQ) is a supportive housing provider with a mission of ending homelessness in Queensland. The evening was a huge success with CGQ far surpassing its fundraising goal, enabling the group to expand their programs and offer more supportive homes for families and individuals in our community who experience homelessness.
To learn more and donate click HERE.
CONSTRUCTION SNAPSHOT
GLASSHOUSE
We are excited to share that the stone supplier for Glasshouse has been in Italy this month inspecting and hand selecting the slabs of Foir Di Bosco stone that will be used throughout Glasshouse.
Onsite, piling of the basement retention is progressing well with Groupline securing a larger piling rig to expedite the retention. The site team are closely monitoring the clear skies in anticipation for the basement dig.
COMING SOON
We look forward to formally launching an exciting collection of projects to the South East Queensland market as the 2022 calendar year draws to a close. To find out more about the opportunities in both Brisbane and the Gold Coast prior to market release, click HERE.
