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Vue launches with $31.5 million in apartment sales

19 May 2014    

The population of the CBD is set for continued growth with 84 apartments now sold at Vue, Adelaide’s tallest residential building, following the first week of the project launch.

More than $31 million of property, representing 41% of the project, has been sold with strong interest and sales predicted to continue over the next few weeks.

The apartments have sold to a mixture of owner occupiers and investors including a number of first home buyers, with purchasers attracted by Vue’s stunning design, location on the edge of the southern parklands and sensible pricing.

Despite strong launch sales, Vue’s unique twisted glass fronted design ensures that there’s still plenty of choice for interested buyers within each of the project’s key viewing corridors - over the city, southern parklands towards the hills and Adelaide coastline down to Hallett Cove.

Vue is the first major apartment project to be taken to the market in Adelaide after being one of the first to use the State government’s pre-lodgement service designed to streamline the Development Application process. 

Starfish Developments Managing Director Damon Nagel said the response from buyers endorses our decision to create a landmark building which would set a new residential design benchmark for Adelaide’s CBD.

“Despite Adelaide’s reputation for being slow to embrace change, Vue proves that being a bit brave and bold can work and people will support you,” said Mr Nagel.

“There’s a new energy in the city at the moment - a feeling that anything is possible with the right vision and some hard work.

“Many of the buyers at Vue are planning to move into the city from the suburbs as a result and the building will be home to a mix of young professionals and empty nesters looking to downsize and enjoy a low maintenance city lifestyle.

“Buyers are attracted by Vue’s location on the edge of the southern parklands and being within walking distance or a short tram ride of the Riverbank precinct and the new Adelaide Oval.”

The population of Adelaide’s CBD is growing with the number of people living in the city rising by 3.2% to 15,000 in 2013, according to the latest figures from 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. On completion, Vue will add around 350 new residents to the city’s population.

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 4 three bedroom penthouse apartments.

Six-five per cent of the apartments are priced between $320,000 and $400,000. The tallest penthouse apartments will be priced from $1.2 million. Prior to June 30, 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 glass frontage.

Detailed plans for 600 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 visit the Vue Sales and Information Centre, 431-439 King William Street, Adelaide. The Centre is open daily from 11am to 3pm.

ISSUED BY HUGHES PUBLIC RELATIONS: Please contact Simon Hatcher on (08) 8412 4105 or 0417 780 071.