Stoneham – New Apartments in the Heart of Stones Corner

By: Property Mash: October 19, 2016, Updated: August 6, 2018

  • 99 apartments over 12 levels
  • Located in the heart of Stone’s Corner – close to shops, bars, gyms and transport
  • Ground floor retail space
  • Pool and BBQ area
  • Located at 20 Stoneham Street, Greenslopes
  • City views from select apartments
  • Smart building with several technological features
  • 30 x one (1) bedroom; 69 x two (2) bedroom, two (2) bathroom
Stoneham Display - New Apartments for Sale in Stones Corner

Stoneham Display – New Apartments for Sale in Stones Corner

Stoneham is a new project of 99 x one (1) and two (2) bedroom apartments which is located just one street away from the Stones Corner High Street in Greenslopes.  The building is in a fantastic location that is close to shops, bars and transport.  On top of this, it is a modern and thoughtfully designed project that has extremely livable apartments. The developer has integrated some special features like free wifi around the pool deck and routers in all apartments which will definitely appeal to younger or tech-savvy residents.

The Project:

Stoneham consists of 99 apartments in total. There are only one (1) and two (2) bedroom apartments on offer at this project, so if you are in need of a larger configuration you won’t find it here. However, if you are looking for a smaller apartment, the ones on offer here are intelligently designed and are a reasonable size.

There are 30 x one (1) bedroom apartments and 69 x two (2) bedroom, two (2) bathroom apartments. Some of the two (2) bedroom apartments have a separate multi-purpose room which would make a great study.

The one (1) bedroom apartments in this project are 59m² with a 12m² balcony or 58m² with an 18m² balcony. These are well designed apartments that are also slightly larger than the one (1) bedroom apartments on offer at comparable projects. They feature full sized bedrooms (larger than 9m²), ensuites that are also accessible from the living area (a must have in one bedroom apartments), plenty of natural light to the bedroom and living area, separate laundry and a kitchen with two bench tops. One of the single bedroom floor plans even has a walk-through robe which is great.

Stoneham Stones Corner - Artists Impression of Bedroom

Stoneham Stones Corner – Artists Impression of Bedroom

The two (2) bedroom apartments in this project are another example of intelligent design. They tick all of the features of the Property Mash Livability Checklist and we think that the developers have done a fantastic job with these apartments. Every single bedroom gets access to good natural light, which is difficult to do in apartment projects. There are also no floor plans where the two bedrooms are placed next to each other – a feature which offers maximum privacy inside the apartments. This is great because many two (2) bedroom apartments will be inhabited as a shared occupancy either by two couples or two single people. It is likely that the apartments at Stoneham will have maximum appeal to renters – something that investors will relish.

This project has ducted air conditioning throughout and every bedroom has a fan which is another greatl feature in Brisbane’s climate, and will help lower your electricity costs.

All apartments at this project come with one car park. This may be a hassle for households with more than one car as there is very limited street parking around Stoneham. There are 14 visitor car parks on site and 10 bike spaces.

Artists Impression of Stoneham exterior

Artists Impression of Stoneham exterior

As with all new projects these days, Stoneham will be built ready for the NBN. On top of this however, the developers have added several other technological features that we think are really cool and will enhance the overall experience of people living within this project. One of these is the free wifi coverage offered for the pool and BBQ area. This comes with a download limit of 100mb/day, but is a great feature that will make the pool area more connected and usable. Also, each apartment comes with streaming entertainment connectivity, a router and one month of free wifi.

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Location:

This development is located at 20 Stoneham Street in Greenslopes, which is approximately 5kms south east of the Brisbane CBD. Greenslopes is a suburb of approximately 8,500 people that is bordered by Coorparoo, Woolloongabba, Annerley, Holland Park and Holland Park West.

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This project fronts Stoneham Street and Montague Road.  Stoneham Street is a quiet one way street, whilst Montague Road is a pretty major arterial that will undoubtedly generate a degree of road noise.

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Stoneham will be constructed here, on the right of this photo. The road on the left is Montague Road. Photo taken 06/10/2016.

The site for this project is located in the heart of the Stones Corner commercial precinct. There are many cafes and bars in the immediate vicinity of this project and it really is a good, busy little hub.

This project is 500m from Hanlon Park. This park has lots of trees, some sporting facilities and a bike track. It is perfect for a picnic, a long walk or a leisurely bike ride. It is also a great facility to have for kids to play in. There is also a childcare centre on the edge of this park.

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5 Burroughs on the High Street at Stones Corner.

Just 50m away from Stoneham Street is Stones Corner Village, which would provide all of the daily necessities for people living at Stoneham Street. The largest shop in The Village is Aldi, but there is also a pharmacy, Asian grocer, hairdresser and newsagent. There are also several restaurants at the front of the village that have alfresco dining areas . There are also lots of shops in the immediate area surrounding Stones Corner Village. These include a butcher, a medical centre, post office and several cafes.

In terms of public transport, the Stones Corner Bus Station is just five minutes walk from Stoneham. Situated on the Eastern Busway, this station allows quick and easy travel across Brisbane. The inbound station has regular services to places like Roma Street, the CBD and UQ, whilst the outbound station goes to the Carindale Interchange and Coorparoo.

Interestingly, a bus trip from Stones Corner Bus Station to UQ takes just 7 minutes, because the trip is entirely on the Eastern Busway. This particular service runs every 15 minutes.

Another major draw-card of this location is its proximity to several major health institutions which employ many people. This will particularly appeal to investors. The Princess Alexandra Hospital, which employs 6,500 people is just 1.2kms from Stones Corner. The Greenslopes Private Hospital is 2km away and that has a total of 2,000 staff. Also, the Lady Cilento Children’s Hospital and The Mater Private and Public Hospitals are 3kms away. Together, these hospitals employee close to 10,000 people. This puts a total of 18,500 hospital staff within 3kms of Stoneham.

Quality and Finishes:

Finishes board as seen inside the sales display. Photo taken 06/10/2016.

Finishes board as seen inside the sales display. Photo taken 06/10/2016.

Stoneham isn’t the most expensive apartment project in Brisbane. It is not holding itself out to be a luxury project with top of the range finishes. Regardless, the quality of the fit out in these apartments is quite good and people who live in these apartments will get some great features.

Stoneham Kitchen

Stoneham kitchen render. Supplied by developer.

The kitchen and bathroom cabinetry is all soft close, which is a nice touch. The bench top in the kitchen is reconstituted stone which is durable and easy to clean. For those who love to cook, these apartments come with four burner gas cooktops and concealed rangehoods. The pantry has adjustable wire shelves which is great because all too often in apartments we find shelves that can’t be adjusted to suit the needs of the person who is actually living in it which results in wasted space. The splash back is a ceramic tile in an interesting tessellated pattern.

Throughout the kitchen and living areas, the flooring is a durable vinyl wood plank, whilst in the bedrooms it is a wool blend carpet. The bedrooms also have built in robes with mirrors and sliding doors. There is a shelf and hanging rail for clothes. The laundry comes with a wall mounted clothes dryer.

Check out the side window on the below artists impression of the living room – very funky! We like it.

Stoneham Living

Stoneham living room render. Supplied by developer.

Investment Analysis – Rent / Onsite Managers:

The rental appraisal for this project shows that the weekly unfurnished rental rates that are expected to be achieved are as follows:

1 bed, 1 bath, 1 car: $390 to $420

2 bed, 2 bath, 1 car: $500 to $550

2 bed, 2 bath, 1 car + MPR: $520 to $570

The body corporate rates for this project range from $3,300 to $3,800.  We consider that these body corporate fees are justified by the level of amenity that is provided.

Local Competition:

There are a number of new projects currently underway in this small area of Greenslopes. All of the others are on the opposite side of the Stones Corner High Street to Stoneham, closer to Hanlon Park than Stoneham is. Some of the projects over there include Lincoln on the Park and Oxy. It is quite difficult to set these projects apart because they all target a similar market: they are investment style apartments that are a step above the standard investment grade apartments that you generally see around Brisbane. They are all quite well designed and would be enjoyable to live in. However, each of them are differentiated by small features. We recommend reading the Property Mash articles on each to truly understand these projects and then go and have a visit to the displays.

Developer & Builder Overview:

The developer for this project is DeMartini Fletcher.  This company was formed in 1980 as a collaboration between John De Martini Properties and the John Fletcher Group of Sydney.

John De Martini is a well known and respected property professional who has successfully operated in the Queensland market for over 40 years. Based in Sydney, the John Fletcher Group has operated for over 70 years and has a wealth of investment experience across a range of Australian property markets.

Sales Display & Contacts:

The display suite for this project is located on site. It is accessible from Montague Road at Greenslopes and there is plenty of parking available. Putting 15 Montague Street, Greenslopes into your GPS will get you right to the front door. There is not a lot to see inside the display, just some photos and a finishes board. However, we highly recommend walking from the sales display towards Stones Corner High Street to get an idea of the local hub you will be buying into. It really is a great little pocket of Brisbane with lots of life.

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Interested in this project?

We would love to hear your thoughts on this project.

Have you visited this project recently, or perhaps you live nearby or bought in a neighbouring building? Tell us what you love about this project, or perhaps what you don't.

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