The Urban Edge development is attracting strong support from the local buyers with Brisbanites accounting for 55 per cent of purchasers. A further 25 percent have been from New South Wales and the remainder are Australian expatriates.
The last nine months have also seen the inner city Brisbane development enjoying a total of $50 million in sales, with 70 per cent of residences in the project’s first building, Vista, already sold.

Pradella’s development manager Brett Lentz said the high level of local interest in the property spoke volumes for the value, rental returns, and long-term resales value of the apartments.
“In this market, buyers are doing their homework and they’re looking for low-risk investment opportunities with low vacancy rates and high rental returns,” he said.
“Urban Edge offers quality apartments in a prime location, which presents a tremendous investment opportunity now and into the future, regardless of the economic outlook.”

Mr Lentz said investors could anticipate strong rental returns with recent research by independent property analyst Michael Matusik indicating Kelvin Grove had below average vacancy rates.

“Research shows that in 2011, the vacancy rate for Kelvin Grove averaged around 1.6 per cent compared to 2.7 per cent recorded for apartments in inner Brisbane,” he said.

“Urban Edge has all the fundamentals in place for consistent investment returns, with a university campus housing more than 12,000 students plus three hospitals where 8,000 staff work on its doorstep.

“The development’s prime inner-city location also offers buyers every lifestyle convenience.”

Urban Edge offers the highest building in Kelvin Grove Village adjacent to Victoria Park Golf Course, giving buyers’ uninterrupted panoramic views to the CBD and neighbouring parklands.

The development will ultimately comprise three buildings, with construction on the first two buildings, Vista and Horizons, beginning in October 2011 and due for completion in late 2012 or early 2013.

The 6-level Vista building and 12-level Horizons building will deliver a total of 206 one, two and three-bedroom apartments, set amid landscaped gardens.

The final stage of the project will see a 15-level building offering 176 apartments in one, two and three-bedroom configurations.

Urban Edge buyers may also be eligible for the $10,000 Queensland Building Boost available until April 30, 2012.