Leading property developer Mirvac has announced the first building in its Ascot Green Eagle Farm development is nearly complete. Ascot House, overlooking Eagle Farm Racecourse, is more than 70 per cent sold after construction began a little more than 12 months ago. In a joint venture with Brisbane Racing Club, the Ascot Green development’s first stage also includes Tulloch House, a second tower adjacent to Ascot House, with expansive views of the track.
Mirvac’s General Manager of Residential in Queensland Warwick Bible said he is looking forward to welcoming the first residents and establishing a thriving community. “The building has already secured sales close to $60 million, which is a true testament to the quality and demand of this product for the area,” Warwick said. “Ascot Green residents will enjoy unrivalled access to a world-class location, landscaped gardens and expansive nearby lifestyle amenities such as parks, walking and bike tracks – all designed to enhance a sense of belonging among our residents.”
Lord Mayor Graham Quirk said the completion of Ascot Green’s first building marked a significant milestone in what would soon become a premier recreation and residential destination for Brisbane. “The Eagle Farm Racecourse has played a significant role in Brisbane’s racing history and this new precinct will be the centrepiece for the reinvigoration of this site,” Cr Quirk said. “This is an exciting time for Brisbane and this residential precinct will be a welcome addition to our city, providing a vibrant hub where people can live, work and relax.”
The first residents of Ascot House are expected to move in from July, with a handful of apartments still available. Brisbane locals Trevor and Lorelei Gozzard purchased a three bedroom apartment late last year and said the strong investment potential was a major selling point. “Location, building quality and possibilities for capital growth were among the strongest reasons towards purchasing our new home,” Mr Gozzard said.
Brisbane Racing Club Chairman Neville Bell noted he had already seen a visible uplift in visitors to the area. “The completion of Ascot House will truly set the precedent for additional investment in the area, with up and coming Racecourse Village shopping to be completed mid this year, child-care facilities already available onsite and additional dining and recreation facilities set to transform the already established and growing region,” Neville said.
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