Buyer demand for larger apartments has seen building changes lodged ahead of construction at Maasra Apartments.
An increase in the numbers of three and four-bedroom units has been put forward for the Coorparoo development.
Karam Group’s decision to redesign and add more three and four-bedroom apartments at Maasra Apartments won’t mean any visible changes to the building itself, but will reduce the total number of units to make way for 34 three-bedroom apartments and 20 four-bedroom apartments.
Maasra Apartments is a $96 million luxury mixed-use residential building being developed in the city-fringe suburb of Coorparoo, now with 102 apartments across eight floors, boutique retail on the ground floor and commercial office space on level one and a secure 328-space car park.
Karam Group managing director Anthony Karam said it wasn’t surprising to see that Coorparoo was recently named the second most livable Brisbane suburb by PricewaterhouseCoopers’ CityPulse SEQ report, considering its desirable history.
“Coorparoo has always been a leafy urban village just minutes from the city centre with all the conveniences and infrastructure within a thriving community,” Mr Karam said.
“The new plan changes demonstrate our commitment to creating quality living spaces that accommodate a variety of households.”
He said there was an opportunity prior to construction to combine a number of smaller units into large house-sized apartments and he felt it was the right step for Maasra, considering market demand.
“Our sales team has been fielding a large number of inquiries from owner occupiers wanting more bedrooms, larger living areas and enough space to comfortably entertain friends, as well as generous parking facilities,” Mr Karam said.
“We will deliver Maasra as it appears on the artist impressions, but on the inside more prime owner-occupier apartments with exceptional amenities.”
Maasra Apartments marketing manager and TOTAL Property Group managing director Adrian Parsons said apartments like these are very rare, but highly sought after in the market.
“Our buyers are pleasantly surprised and find it refreshing to see we are selling large three and four-bedroom apartments, rather than just the two-bedroom apartments typically found in Brisbane,” Mr Parsons said.
“Few developers are accommodating demand for larger apartments in Brisbane like Karam Group is doing with Maasra.
“Karam Group has adjusted the development to suit the market, with owner-occupiers seeking the size of a private home in an apartment lifestyle for low maintenance living.
“This is a rare opportunity to own a new luxury apartment with larger floorplans featuring generous living areas and master suites and spacious guest bedrooms, plus a full laundry room, study and some with their own butler’s pantry.”
Mr Parsons said: “Due to strong migration to the city, forecasters are expecting apartment prices to grow in the Brisbane market by around two to three per cent a year over this year and continuing into 2020”.
“There is a trend towards apartment living in residential pockets like Coorparoo, which means Maasra is perfectly positioned for residents and investors.
“Buyers wanting to purchase a new home in Brisbane are finding the size, style and convenience of Maasra Apartments very appealing.”
Designed by HAL Architects to reflect a sense of community and place, Maasra Apartments features a podium recreational space with multiple entertainment areas, including a 25m pool with timber decking, sun beds, beautiful landscaped surrounds, a residents’ lounge, a gymnasium, boutique retail on the ground floor and commercial office space on level one.