THE FINAL stage of 111 Quay Street has been released, offering buyers a low-priced entry point to the CBD.

Construction of the 12-level, 78-apartment development is now under way with 33 apartments remaining for sale.

Place Projects marketing agent Bruce Goddard said there was limited apartment stock in the city.

“Currently just three projects, totalling 91 apartments, are being sold in the Brisbane CBD, meaning 111 Quay Street represents a substantial percentage of what is available,” he said,

According to the Place Advisory Unit Report, the June quarter 2014 recorded a higher than average weighted sale price of $1.355 million in the CBD.

However, this was primarily due to the Sunland Group’s Abian Apartments, the majority of which sold at the upper end of the market.

With apartments in 111 Quay ranging from $335,000 to $575,000, Mr Goddard said the project represented a more affordable option.

“Furthermore, as the building does not have a pool or a gym, the body corporate fees are low – another incentive for buyers,” he said.

“Being located in the CBD this project is completely surrounded by amenity and public transport, as well as some of the city’s best restaurants, cultural precincts and entertainment.

“With the CBD being Queensland’s largest employment node, this area is in high demand among renters, and is currently extremely undersupplied.”

Construction of the 111 Quay Street apartments is expected to be completed by October 2015.

For more development news, pick up the Home lift-out in today’s The Courier-Mail.

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