Apartments go on sale today in Adelaide's tallest residential building
Demand for CBD living grows as city population reaches record level
Apartments in Adelaide’s tallest building go on sale today (May 10) with strong sales expected as more people choose to live in the CBD.
The population of Adelaide’s CBD is being fuelled by new developments with the number of people living in the city growing by 3.2% to 15,000 in 2013, according to the latest figures released last month by the Australian Bureau of Statistics (ABS).
Last year’s growth makes Adelaide the fourth fastest growing suburb in South Australia with an additional 470 residents now in the city compared to 2012.
This growth follows five years of record growth for Adelaide’s CBD which has grown by 33 per cent after 100 years of population decline.
The CBD is set to grow further still in 2014 with a number of new developments being brought onto the market following the state government’s planning reforms and investment in creating a vibrant city.
Today (May 10), will see 205 new city apartments come onto the market in Vue on King William – set to become Adelaide’s tallest residential building. On completion, Vue will be home to around 350 new city residents.
Starfish Developments Managing Director Damon Nagel said they’ve received hundreds of registrations of interest for Vue and are confident of strong sales at this weekend’s sales launch.
“There’s a renewed interest in living in the CBD, particularly from young professionals and empty nesters, attracted by a low-maintenance city lifestyle and having everything on their doorstep,”
said Mr Nagel.
“The completion of Adelaide Oval and development of the Riverbank precinct have heightened people’s interest in living in the city.
“We think the time is right to bring a project like Vue onto the market so we’ve acted quickly after receiving development approval for the project at the end of January.
“2014 could be a record year for population growth in the CBD if projects approved recently as a result of the state government’s planning reforms are brought onto the market.
“However, we must see high quality development which is sensibly priced for the current market as these are factors that have been missing in recent years.
“We believe Vue will meet market demand with its stunning architectural design and breathtaking views, location adjacent to the southern parklands and within walking to Adelaide’s best markets, restaurants, shopping and entertainment.”
Vue on King William will incorporate 205 apartments with a maximum of 10 apartments on a single level. The apartments are predominately one and two bedroom with a single Penthouse level featuring 3 three bedroom penthouse apartments.
Six-five per cent of the apartments will be priced between $320,000 and $400,000. The tallest penthouse apartments will be priced from $1.2 million. Buyers will also be able to take advantage of the government’s stamp duty relief for city apartments which could save them up to $21,300.
Vue will bring a new style of residential architecture to Adelaide with its 5 level podium, recessed Level 6 roof top garden, pool deck and recreation centre and 21 level curtain wall glass frontage.
Detailed plans for 775 square metre private recreation space on Level 6 are underway and are being inspired by Sydney’s The Ivy.
The building has been designed by leading architects Woods Bagot, led by Principal Gavin Kain, alongside Design Architect Enzo Caroscio and a South Australian team. The firm also drew on the expertise of its global studio network for the project.
Vue on King William is a joint venture between local development firm Starfish Developments and the Asian Pacific Group, developers of The Watson, Walkerville.
Work will commence onsite in July. For more information and to register your interest for the project visit www.vueonkingwilliam.com.au
Editor’s Note: The population of the southern end of the city (where Vue is located) is forecast to increase by 141% to 6,889 over the next 20 years, according to the Adelaide City Council.
Despite its growth, the city still has a relatively low population density with 1,400 people per square kilometre compared to the most populated suburbs of Unley – Parkside and Glenelg with 2,900 people per square km.
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