Crosby Park Apartments – parkland position with views in Albion

By: Property Mash: June 13, 2017, Updated: June 18, 2018

  • Albion (4010), emerging residential suburb in the northern inner city.
  • Overlooking Crosby Park, five acres of green space.
  • 102 x one (1), two (2) and three (3) bedroom apartments in 2 buildings.
  • Prices from $370,000 to $1,395,000.
  • Excellent views over Crosby Park to City for the front of the first tower.

Crosby Park Construction Update 13/06/2017

Crosby Park Apartments would be attractive to a buyer seeking an apartment “near but far enough” from the city to enjoy a relaxed lifestyle. This is the developers marketing tagline, and we agree with it on this occasion.  Crosby Park Apartments is currently 50% sold, with more than 80 per cent of buyers owner-occupiers according to the Developer. The units are positioned in a near inner-city suburb of Albion which is a former light industrial and commercial neighbourhood which is now undergoing a residential rejuvenation.

This development overlooks Crosby Park with provides five acres of green space at your doorstep. It is located five km from the CBD with a myriad of services and facilities easily accessible.

The Project

Crosby Park Apartments’ comprises two buildings spread across seven levels. The project has 40 x one (1) bedroom, 41 x two (2) bedroom and 21 x three (3) bedroom apartments.

Crosby Park Apartments - building model.

Crosby Park Apartments – building model.

There are various floor plans to choose from. The one-bedroom apartments will have between 76 to 101 sqm of living space and the two-bedroom apartments from 106 to 170sq m. The three bedroom apartments range from 119 and 175sq m. These sizes are inclusive of the balcony which looks larger than the current Brisbane average, rather than representative of the internal space.

alt image
alt image
alt image

The tiled balconies will be large and offer different outlooks. The apartments situated in the prime southern side of the building look straight onto Crosby Park which cannot be built out, while western facing apartments overlook an industrial allotment which will feature the slated upcoming development 31 Dover Street which may possibly block some views. If you buy beside Burdett Street (east facing side of the building)  you could hear construction noise for some time and be left with potentially blocked views once Jade Albion is completed which will encompass four buildings of residential development

Crosby Park background

View from Crosby Park Apartments balcony looking West-Southwest

The above photo is looking west – south-west from a large one bedroom apartment. It has fantastic views currently but you will need to check what happens with the site next door as it is slated for a future development. The apartments feature excellent outdoor tiles and west facing apartments also come with a fold-down shade that will filter out the sun and add privacy if required.

With Crosby Park Apartments being a double tower Project, one tower faces the other, so apartments to the north of the southern building, and those to the south of the northern building will look into each other over the shared pool recreational area (see below). Even though you do look directly into the next building, there is a surprising amount of privacy due to the way the balconies have been designed. This has been well thought out and definitely a design feature. Naturally, the price of these internally focused apartments is lower and on a $ per sqm is very attractive.

The secure underground parking offers single spaces, not tandem, for all residences. Most apartments have been allocated two car spaces. There is also good off-street parking and 18 visitor spaces. Entry to your apartment will be via two lifts using an electronic fob. There is also an intercom system for security. Storage lockers will also be provided with all two and three bedroom apartments and some one-bedroom apartments.

Between the two buildings, there will be a pool and recreational area with a barbecue and landscaped gardens.

Crosby Park Albion 2

Artist impression of the pool and recreational area at Crosby Park Apartments

Construction is well underway and the development is due for completion in October this year.

Location

Crosby Park Apartments sits beside its namesake, Crosby Park. Crosby Park is a five-acre park that includes facilities such as basketball courts, picnic areas, a playground and a dog park. It is also the stomping ground of the Brothers Old Boys’ Rugby Club who have a 70-year lease to run. This ensures you will have uninterrupted views from this side of the building but may detract interest from some buyers who do not like the hustle and bustle of Saturday and/or Sunday rugby matches.

Crosby park - view from Level 7 apartment balcony.

Crosby park – view from Level 7 apartment balcony.

Albion is a relatively quiet retreat from the city, neighbouring the upmarket suburbs of Ascot (4007) and Hamilton (4007), and the more commercial suburb of Bowen Hills (4006). It’s known for Albion Park Raceway, just 500m from Crosby Park Apartments, which holds regular greyhound and horse racing events.

Albion doesn’t have any major supermarkets or shopping centres but you can find a Coles supermarket five minutes away. More than likely your first port of call for shopping will be Bowen Hills or Clayfield (4011). It is probably only a question of time until a supermarket is opened in Albion, but until then you will have to drive.

Brisbane airport is less than a 15-minute drive via Sandgate road. Bus stop No 19 is directly outside the building and has a direct bus service that takes about 20 minutes to the CBD and from Crosby Road or Sandgate Road it will take approximately 15 minutes to the CBD.

Crosby Park Albion 1

By car access to all points on the compass is pretty good with easy access to the Inner City Bypass, Clem 7 Tunnel and Airport Link Tunnel.

The list of schools surrounding the apartments is extensive and within walking distance up the hill is St Margaret’s and Clayfield College, two of Brisbane’s premier private schools.

The apartments are positioned on Crosby Road which is a busy thoroughfare road which will carry local traffic during peak hours and on weekends. We were on site around 5 pm and the road was busy but certainly wasn’t intense.

Quality/Finishes

In the two-bedroom units, there is a clear separation between the bedrooms. Real Estate agent David Crompton said, “there are no second-class citizens here, with a walk-in wardrobe also in the second bedroom.”  The one-bedroom units also have a study nook.

Crosby Park Apartments - Bedroom in display unit on level 7

Crosby Park Apartments – Bedroom in display unit on level 7

The living areas will have carpet and tiles floors or a bamboo floor option, or you can opt to upgrade to an Oak timber floor. All apartments are finished with an ‘upgrade’ colour scheme of teacup, a warm off-white colour.

The kitchens all feature glass splashbacks and reconstituted thick wraparound granite bench tops with waterfall edges. An Ilve appliance package will include a gas cooktop, range hood, oven and dishwasher. An optional upgrade to Miele appliances is available.

Crosby Park Apartments - Kitchen and Living Room

Crosby Park Apartments – kitchen and living room of display apartment on Level 7 – with optional Bamboo floor.

There are expansive tiled wraparound balconies which are nicely presented with a pebble feature. Many overlook Crosby Park with excellent city views. The balconies will have power points for an electronic barbecue to make the most of alfresco dining.

Each apartment will feature ducted air conditioning with the zoned compressors on the roof. In addition, there are ceiling fans in the bedrooms to accommodate for Queensland’s hot summer.

Add to the mix bathrooms with floor to ceiling tiling presenting it with a clean and crisp look and feel.

52 Crosby Road Albion-10

There was ample storage in the cupboards throughout the display apartment.

Pricing & Rentals

There is a high level of apartment demand in Albion due to an undersupply. Demand for rental dwellings is high comprising almost half (47 per cent) of the suburb’s population.

According to the Residex State Market Report Queensland 2016, the current median value for a unit in Albion is $438,000. Albion rental market achieved a median weekly rent of $410 in 2016.

In the last five years, the median weekly rent of a one bedroom apartment in Albion has increased by 23 per cent translating to an average annual rate of growth of 4.2 per cent.

Albion is also recording a healthy gross rental yield of over five per cent.

The estimated rental return for one-bedroom apartments is between $410 and $475 weekly. The two bedroom apartments are expected to rent from $540 to $670 and the three bedrooms from $600 to $775.

At Crosby Park Apartments the annual body corporate fees will be around $3950 including the sinking fund.

Investment analysis

At Crosby Park Apartments there will be no onsite management but a building caretaker will be onsite.

Albion itself is shedding its former industrial roots and transforming to an urban, cosmopolitan façade. This already evident with nearby chic cafes springing up around the place.

IMG_0178

Crosby Road Apartments is about one km from Albion Station. The Albion Train Station precinct will soon be transformed into a mixed-use development set to improve access to Albion Train Station and upgrade commuter car-parking. It is anticipated the ground floor retail space will include cafes and restaurants, a  supermarket, medical centre, newsagency, deli, bakery and grocer

Builder/Developer profile

Crosby Park Apartments is being developed and built by Butterfield Projects, a local family-owned company who are hands-on. In fact, we met Derek the developer and builder on site when we visited. He was very approachable after a hard day’s work and obviously was taking great care in supervising the construction of the building. The developers are open to buyers making changes to accommodate their individual needs within reason; for example, a shower was raised to accommodate the needs of a six-foot-six owner.

Butterfield Projects have delivered national and international projects since the 1970s, including the DUO Apartments in New Farm (4005) and the Metropolis Apartments in Brisbane’s CBD.

Sales Office & Onsite Display

You can meet with the sales consultant, David Crompton, by appointment at the small, onsite sales office. By October, the display apartment should be open to the public.

Like this? You might also like:

The Sandison – Boutique Suburban Apartments in Annerley

Maasra – City Views & Urban Living In Coorparoo

Maasra – City Views & Urban Living In Coorparoo

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.

avatar