Brisbane

Nundah: Brisbane’s growing urban village

Nundah: Brisbane’s growing urban village

The concept of the vibrant urban village has superseded the traditional suburban foundations of inner-city Brisbane. Yes, parts of the city such as Paddington and Rosalie, Ascot and Hamilton, Bulimba, Hawthorne and Milton have long enjoyed a reputation for an attractive combination of rejuvenated residential, boutique retail and eclectic dining. Now, however, an evolving process of further gentrification across Brisbane has not only brought improvements to these more established inner- and near-city communities, but also added a new lease on life to other older suburbs.

Top of mind among most Brisbane residents would be:

  • South Bank with its key entertainment and cultural offerings.
  • The big changes to the commercial and residential landscape in West End.
  • New Farm and Teneriffe with their mix of renovated workers’ cottages and riverside warehouse conversions.
  • Newstead and Hamilton Wharf with their burgeoning master-plan high rise.
  • Woolloongabba’s antiques and dining quarter close to the Gabba stadium.
  • The huge changes to the former railway yards’ precinct around Roma Street and the superb lifestyle addition of the Roma Street Parklands.

A little further afield, but still just eight kilometres from the heart of the CBD, the past decade has seen equally significant change inside, and just outside, the boundaries of one of Brisbane’s most historic suburbs.

Nundah, on the “north side” of the Brisbane River, owes much of its transformation to two significant government initiatives: first, a decision to construct a road tunnel effectively diverting traffic from Nundah’s commercial heart; and second, significant support and investment in urban renewal.

Rather than lead to Nundah’s demise, the diversion of noisy, heavy traffic heading north and south through a relatively narrow section of Sandgate Road meant retailers, developers and investors could begin to see a change for the better: the possibility of the rebirth of Nundah pitched at residents seeking reasonably priced homes close to the city and with the added benefit of attractive new retail options.

Nundah offers the best of four worlds: a heart with an urban-village style retail and dining focus; a major retail and cinema complex nearby (Centro Toombul); multiple transport connections to the CBD (road and rail); and Australia’s third-largest international airport on the doorstep.

The airport is the final major key to the Nundah success story. With about $4 billion in redevelopment, complete or under way, including a second major runway, international and domestic terminal renovations, and an associated retail, commercial, accommodation and industrial precinct under the auspices of the Brisbane Airport Corporation, it is inevitable that workers look to nearby suburbs for housing and other amenities.

The airport site, covering 2700 hectares, is home to jobs for more than 20,500 workers, and the figure is expected to exceed 50,000 by 2029.

It is these statistics, plus the attraction of Nundah Village and the locale as a place to live, that convinced Vested Property Group managing director Ian Chester to make his own investment in the future of the Nundah community.

Vested Property Group has two developments under way in Nundah, including Brooklyn on York Street – eight two-level townhouses just five minutes from Nundah Village with views over parkland.

Chester describes Brooklyn as “creating a benchmark” in the Brisbane townhouse market, and says that it suits the full range of purchasers – first-home buyers, investors and owner-occupiers.

Chester drives each project from start to finish and says that most of the company’s developments cater to the growing demographic of Baby Boomers and first-home buyers, with a focus on creating functional spaces with high-quality specifications.

At Brooklyn, Chester has opted for a stylish architectural design with finishes in muted tones that lend themselves to the indoor-outdoor flow of the home and natural light through floor-to-ceiling windows.

Lounge and dining flow seamlessly to a private courtyard. Finishes include stone benchtops, Italian tiles in all bathrooms, European appliances and airconditioning to the lounge and main bedroom.

Buyers can choose either a three-bedroom, study, two-bathroom and two-car-park layout or two-bedroom, study, two-bathroom and one car space. Sizes range from 125 square metres to 180 square metres and prices from $525,000 to $625,000.

Chester believes that Brooklyn’s price range and floor plans will suit a range of buyers looking to maximise their lifestyle and buy into a growing suburb with strong rental returns and saleability.

Statistics provided by Domain chief economist Andrew Wilson show a five-year median price growth in Nundah of 21.4 per cent for houses and 14.5 per cent for units. The median house rental of $420 a week represents an increase over five years of 6.3 per cent.

Brooklyn, at 115 York Street, Nundah is expected to be completed in December.

Source: https://www.domain.com.au/news/nundah-brisbane8217s-growing-urban-village-20170905-gyav0d/