A new residential tower is set to be constructed in Brisbane’s CBD, launching in early 2014.
The $220 million project, dubbed Abian, will comprise 142 apartments over 40 storeys and is to be built on the corner of Alice and Albert streets – opposite Brisbane’s botanic gardens.
The product mix and price points will meet the expectations of Brisbane’s buyer market, said Colliers International residential director Andre Roubicek, who believes the market has improved in the first half of 2013.
“Enquiry level is up substantially and this is flowing into transactions,” he said.
“At the moment, 95 per cent of stock available in the five-kilometre ring around the city consists of one- and two-bedroom apartments, but Brisbane has matured and the market is definitely ready for a prestigious residential development in a unique location."