Brick Lane on Florence – old meets new in Teneriffe

By: Property Mash: August 15, 2016, Updated: August 19, 2016

  • Sixteen ‘corner’ apartments and two penthouses on Teneriffe Hill (4005)
  • Two (2) and three (3) bedroom apartments
  • 300m from Brisbane River
  • Designed to maximised ‘frontage to light’
  • Designed to meld with surrounding woolstores
Brick Lane Teneriffe construction

Brick Lane Teneriffe construction taken by Propertymash.com

Brick Lane is a mixed-use residential development positioned on Teneriffe Hill surrounded by million dollar homes. It’s a boutique building idesigned to offer an owner occupier an alternative to traditional Queenslander or perhaps even an upgrade from a woolstore apartment .

The boutique development is 300 metres from Brisbane River and within close proximity to the 10 heritage-listed Woolstores.

Its key attributes are its focus on ‘corner’ apartments, which refers to the focus on maximising frontage of each apartment to natural light, and the external design which seeks to blend modern with old, taking inspiration from the nearby woolstores.

The Project

Brick Lane will offer two (2) and three (3)-bedroom apartments spread across six levels which includes an underground carpark. The development comprises 16 apartments and two penthouses, one with a rooftop terrace.

Brick Lane’s metallic artwork screens carry forward the theme of nearby Woolstores and are a distinctive design element of this development. This stencilled brick-like motif adds aesthetic appeal to the square building and adds a nice contrast to the white rendered finish and timber panelling.

Brick Lane is positioned on a small (by development standards) 800m² block with no gardens or facilities. yet it’s a close walk to Teneriffe Park so plenty of green space is close by. Teneriffe is all about the coffee and dining culture though, so it is more about locking your front door and getting a coffee or a wine than perhaps going to a park for a picnic.

The low-rise building has external frontage of approximately nine metres and its marketing places significant emphasis on the architects ability to maximised frontage to light, as you get in a corner apartment – hence the name corner apartments that is used in the marketing literature.

We have not been provided floorplans so we can not vouch as to whether this is in case the fact.

Location

Brick Lane is on Florence street, about 300m from the Brisbane River in Teneriife. Teneriffe is one of Brisbane’s most affluent suburbs which many years ago was a farming area and industrial hub. In recent times Teneriffe has undergone an urban resurgence. Low-rise apartments line Vernon Terrace and the woolstores that long were the industrial hub of the suburb are all now trendy converted apartments.

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Brick Lane will reside on Florence Street. Photo taken by Propertymash.

Teneriffe is an inner city pocket 2.5km northeast of the CBD and thus enjoys an abundance of services and facilities. Yet, it has a village feel and relaxed character compared to its New Farm (4005) neighbour. The suburb has experienced a true urban renewal and with the redevelopment of historical Woolsheds into hip apartment-style homes Woolstores aligned with urban precincts around the world, young professionals were lured to live here.

Florence Street is home to trendy cafés and retailers. Macquarie Street is the central street in Teneriffe and home to boutique shops, restaurants including ‘The London’. Brisbane’s only traditional Japanese bath houses or ‘onsen’ resides here.  Teneriffe has its own annual festival in July.

When you drive through Teneriffe you get a real feel of what is happening in many cities where older suburbs which were somewhat neglected for decades suddenly go through a revitalisation born from their sheer proximity to the CBD.

This is particularly prevalent in bordering Newstead (4006) about 800 metres away, which is currently undergoing an influx of construction with developments taking shape and form in high density between Skyring Terrace and Commercial Roads. With already stretched street car parking available this will only get worse as more people move into the area.

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Teneriffe is pressed for street car parking. Photo taken by Propertymash.

The closest shopping hub is the Gasworks Plaza in Newstead. There you will find a Woolworths, cafes and dining options. Shopping Centre Homemaker is close by in The Valley. It has an ALDI, Goodlife gym, Trade Secret and retail outlets.

From Teneriffe you can walk alongside the river to the CBD including the River Walk. New Farm Park is 2.5 km from Brick Lane which attracts more than 18,000 visitors each week and is home to the Brisbane Powerhouse arts centre, barbecues and picnic areas.

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Teneriffe suburb shot. Photograph provided by developer.

The CityCat terminal is a five-minute walk from Brick Lane. Buses also run from here every 10 minutes as well as from Vernon Terrace, just 200m from home. The bus will get you into the city in around 40 minutes transferring to the 412.  Limited transport options are a down side to Teneriffe, with no train station.

A selection of schools at your fingertips benefits families. New Farm State School is the closest primary school about one km away. It has a maximum student capacity of 364 students. Ascot State School and Brisbane Central School are the public schools for bordering catchments. The closest private schools are All Hallows, a Catholic girls’ school and St Joseph’s College, a Catholic boys’ school, in the city.

Royal Brisbane and Women’s Hospital, in Herston (4006), and Brisbane Private Hospital, in the city, are both about a 3km drive. Getting to Brisbane Airport takes around15 minutes via the M7.

Quality/Finishes

Floor-to-ceiling glass doors on the balcony invite in natural light and create breezeways. Each apartment includes perforated screening which slides open to act as a climatic and privacy filter also adding a nice design feature.

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Brick Lane living areas and balcony. Photo provided by the developer.

Brick Lane contains Miele appliances, timber floors, large (90cm) cooktops, splashbacks and quality cabinetry. A corner ensuite with freestanding tapware includes a bath, double vanities and a feature wall.

Brick Lane Teneriffe bathroom

Brick Lane Teneriffe balcony. Photo provide by developer.

Each apartment has fully-ducted reverse cycle airconditioning plus all bedrooms have ceiling fans. In addition, there are TV and ADSL points in the living area, study and bedrooms. The apartments are also smart-wired.

Brick Lane offers two colour schemes – light and dark. However, the Developer is prepared to work with purchasers to customise a unit according to their personal taste, which is a very big plus for the project. Also, there is an optional upgrade available which includes marble benchtops and splashbacks, additional storage space and internal blinds among extras.

Investment analysis

According to  the Residex State Market Report the median value of Teneriffe apartments is $589,000 and the median rent is $550.

The estimated rental yield is around 5.5 per cent however it is expected most buyers will be owner occupiers.

Body corporate fees will be around $4400 per year.

In 2011, the Australian Census recorded 4699 people living in Teneriffe, and 86 per cent of dwellings were flats units or apartments. The average age of the population is 33. The median price of houses in Teneriffe are about $1.3 million.

Builder/Developer profile

The architect and developer Joe Adsett is a Teneriffe local who graduated from Queensland University of Technology. He specialises in luxury residential projects around Brisbane and on Australia’s east coast.

Neighbouring projects/competition

Apartments on the left of Brick Lane may have their views blocked by 17 Skyring Tce which is 30m in height with eight floors and comprises 163 apartments. There are multiple developments popping up between Skyring Terrace and Commercial Road which may change the face of the suburb itself.

An advantage of buying into a smaller development is you will not feel part of an urban plan. On the flip side you will not gain access to a range of recreational facilities.

Sales Office & Onsite Display

Stack Projects is the sales agent for the development. A display is open by appointment.

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