DEVINE TARGETS BUYER UNCERTAINTY WITH $1000 DEPOSIT OFFER
Posted on Monday 30 July 2012
LEADING Queensland developer Devine is giving property buyers the opportunity to own their own luxurious apartment in the prestigious waterfront suburb of Teneriffe without tying up their capital for months in a large deposit.
Buyers can now secure an apartment at Devine’s DoubleOne3 project for just $1000 – with the balance of their 10 per cent deposit due when construction commences. If construction does not commence by March 31, 2013, buyers can opt out of their contract and Devine will refund the deposit.
The offer is designed to stimulate interest from buyers’ wary of project delays and sceptical of developers’ ability to deliver projects on time.
DoubleOne 3 sales manager David Kortlang said many Brisbane property buyers had been burned by developers who delay or cancel projects, in some instances losing thousands of dollars tied up in deposits.
“We have recognised this is a major hurdle for buyers and are putting our money where our mouth is with a commitment to start construction prior to March next year or buyers can exit their contract… we also won’t be sitting on thousands of dollars of their money,” he said.
“Following the GFC, we understand that buyers are looking for rock-solid buying opportunities and we want them to know that DoubleOne 3 is one of those opportunities.
“Our DoubleOne 3 apartment development is a stylish and sophisticated new addition to the blue-chip suburb of Teneriffe and has already generated strong sales. With this new offer, we aim to provide buyers with further security and peace of mind in a challenging market.”
He said the future of the property market in Teneriffe looked bright.
“Over the past four years, price growth was over 5 per cent annually, while rental growth over the same period was in the double digits,” he said. “With apartments starting from $370,000, DoubleOne 3 is a great opportunity to be part of this tightly-held suburb."
DoubleOne 3 at 113 Commercial Rd, Teneriffe, is located in the heart of one of Brisbane’s most popular lifestyle precincts. The project provides a contemporary mix of one and two bedroom apartments.
Each apartment features a sleek and contemporary gourmet kitchen, perfect for entertaining, with the quality of finishes discerning buyers demand. Apartments have been designed to bring the outdoors in, with spacious balconies forming an integrated extension of the living area. Floor to ceiling windows deliver plenty of light, with select apartments offering views of the CBD and the Brisbane River. Each apartment is wired for high speed internet and cable TV.
A feature of the building will be the open-air rooftop terrace, featuring outdoor kitchen and stunning views towards the Brisbane CBD and River. Residents can dine in the nearby restaurants, cafes and bars on Vernon Terrace; browse the boutique shops or enjoy a walk or bike ride along the riverfront.
Regular bus and ferry services provide easy access to the Brisbane CBD, with the Teneriffe City Cat Terminal and City Glider Bus terminus just 200 metres from the building. A City Cycle station is also located nearby.
Devine has a successful history of apartment projects in Brisbane having completed in excess of 3,000 apartments valued at more than $1 billion since 1996.
The company is currently undertaking the award winning $500 million Hamilton Harbour mixed-use development in a joint venture with Leighton Properties. Located in Brisbane’s prestigious suburb of Hamilton, the precinct will ultimately include 660 apartments in three residential buildings, 17,000sqm office space across two commercial buildings and 5,000sqm retail space.
ENDS: Media enquiries to Ben Ready on 0415 743 838.