Brisbane developer Pradella expects to start work on its Waters Edge development in the next six months after selling 73 per cent of 54 apartments that have been sold to date off the plan.

The $50 million per-sale figure came as rental demand in inner Brisbane remains strong with a 2.3 per cent vacancy rate for the March quarter.

Waters Edge, at 36 Duncan St in West End, is due to be completed in early 2011 and will include two eight-storey buildings with one, two and three- bedroom units.

The 11,460sq m site will incorporate 4000sq m of landscaped grounds including lagoon wading pools and outdoor kitchen, barbecue shelters and an infinity edge lap pool.

The project’s first building, Reach, also includes 16 riverfront apartments priced from $1.795 million.

Pradella marketing director Ross Higgins said buyers included those wanting an investment foothold in an area of urban renewal close to the city heart and to people looking to enjoy the lifestyle the units offered.

“ The riverfront location and proximity to the CBD have been the major drawcards,” Mr Higgins said.