DEVELOPER Urbex has started construction on Manly’s newest collection of just eight luxury residences, The Wellington Collection in Brisbane’s bayside.
The $22 million luxury development will overlook the Manly boat harbour with views out to Moreton Bay. The project is being delivered by Urbex Living, a division of Urbex, and is expecting to be completed in late 2023 with near half of sales secured off the plan, with prices starting from $2m to $3.375m.
Urbex development director Carl Bruhn said Urbex has a track record of delivering award-winning communities nationally and is excited to commence construction.
“We are fortunate to be in a position to activate this development when most developers are having to put a hold on delivering as they grapple with both development financing and construction cost hurdles induced by the pandemic supply chain choke and labour shortage crisis,” said Bruhn.
General manager for Urbex Realty Craig Covacich said a Manly Village lifestyle is highly desirable.
“The suburb is certainly well entrenched in its gentrification and The Wellington Collection will be the perfect addition to this bayside lifestyle. Recent home sales are now exceeding the $5m price tag and many others firmly sitting above the $2M range, Manly has very quickly become a frontrunner in the Brisbane property market.
“The suburb has presented a compounded growth rate of 40.5% in houses and 27% in units based on the past five years of sales,” he concluded.
