Nido – Terrace Apartments in Ascot

By: Property Mash: April 28, 2018, Updated: January 30, 2019

  • 12 Luxury Terrace Apartments starting at $765,000
  • Excellent city views
  • Ascot location, one of Brisbane’s premier suburbs
  • Nearby St Margaret’s Private School – one of Brisbane’s best all girls schools
  • 2 apartments remaining for sale: a three bedroom (3) for $945,000 and a two bedroom for $765,000
  • All apartment sales have been to owner occupiers aged 40 and above
  • Construction completed
  • Only two apartments left: one three (3) bedroom apartment from $945,000, and one two (2) bedroom apartment from $765,000

NIDO is perhaps defined by two main attributes – its outstanding views and premium location in Ascot. Ascot, a northern Brisbane suburb, is well-known for it’s impressive – and in many cases heritage–listed – Queenslander houses, beautiful Poinciana trees, and its river, bay and city views from many spots.

59 Lapraik Street, Ascot. Photo taken 18/12/2015.

59 Lapraik Street, Ascot. Photo taken 18/12/2015.

With only 12 apartments, it is a small and luxurious project that is very much focused on owner occupiers, and more specifically, at empty nesters (older couples whose children have left home and are looking to downsize). Only 7 apartments remain though, so get in quick!

Nido Render

Nido Render

This modest apartment block was summarily taken to court by one of its neighbours when first announced. Views were in dispute. Five long months of arduous court proceedings ultimately led to not very much change and the apartments are now available for sale.

The back of St Margaret's College - directly opposite 59 Lapraik Street. Photo taken 18/12/2015.

The back of St Margaret’s College – directly opposite 59 Lapraik Street. Photo taken 18/12/2015.

Nido is being built on the edge of Bartley’s Hill, commanding outstanding and uninterrupted city views. The 12 apartments are expected to be completed by mid 2017 with prices starting at $765,000 for the two (2) 2 bedroom homes, and $925,000 for the three (3) bedroom homes.

The Project

What makes this development special is its spectacular location and promising design.

The project’s clear focus and design orientation is the view.

Every unit has stunning city views.

In a city littered with cranes and other tell-tale signs of a thriving development cycle, something like this small and singularly focused development is a welcome aberration.

As very much a boutique development, there are only two and three bedroom residences available.

Starting at $760 000, the two (2) bedroom residences have two bathrooms and two car spaces as well as dedicated storage facilities. They measure a total of 107sq m, 91sq m of which is internal space and 16.5sq m of which is to be balcony.

The three (3) bedroom homes have 2.5 baths, two car spaces, internal storage and measure a total 142sq m (124 sq m of which is internal space and 17.5sq m is balcony space).

City views from Lapraik Street. Photo taken 18/12/2015.

City views from Lapraik Street. Photo taken 18/12/2015.

All residences are set over two levels.

Nido will have fantastic city views.

Nido will have fantastic city views.

Apartments are serviced by a lift and access is granted via electronic fob.

In addition, there are communal gardens and alfresco entertainment areas.

Location

Ascot is one of Brisbane’s most affluent suburbs. The median house price is currently more than $1.2 million and as mentioned earlier, it shares its borders with Eagle Farm (known for its racecourse), Albion, Hamilton, Clayfield and Hendra. Basically, a bunch of beautiful, old suburbs littered with character homes often on large blocks. Geographically it sits about 7km from the CBD.

Looking up Lapraik Street. Photo taken 18/12/2015.

Conveniently, the area is serviced by multiple bus routes to the city centre. The 301, 306 and 322 are all within a short stroll.

The Ascot train station, which is on the Cleveland and Doomben lines, is just over 2km away.

In terms of schools, the area has quite a few to choose from. St Margaret’s Anglican Girls School, one of Brisbane’s premier private girls school, is just down the same street as the property, and Ascot State School, St Agatha’s Catholic Primary and St Peter’s and Paul’s are all in the near vicinity.

Looking down Lapraik Street. Photo taken 18/12/2015.

Looking down Lapraik Street. Photo taken 18/12/2015.

Finishes

There is timber flooring throughout. The bathrooms are decked out in floor-to-ceiling tiling.

The kitchens are clearly focal points for the generously proportioned residences.

NIDO_Artist_Impression_Lounge

Nido – artists impression of lounge and kitchen

As all residences are oriented towards their winning views, the balconies have been designed with space enough for an outdoor kitchen.

Balustrades are frameless glass – all the better with which to drink in those mega views.

Neighboring Projects/Competition

Of similar style, geographically closest is Newstead Series in Newstead. It is closer to the river, and is part of a much larger complex. Additionally, it forms part of the new Gas Works Precinct – a massive urban renewal project taking place in Newstead. The townhomes in Newstead are closest in design to NIDO. Given their location, the Newstead Series town homes are right in the throng of things in this expansive urban renewal precinct and will therefore have a much more busy atmosphere. Nido – set in a more traditional suburb – ought to have a distinctly more toned down feel.

Across the city there is the upcoming Manhattan Terraces in West End, which will feature terrace-style properties all with their own titles. Again, the most immediate difference will be the energy of the surroundings. West End is also seeing dramatic rates of development, and so will feel  busier.

And then of course, both the above properties are on the Brisbane river, which will appeal to some buyers.

Builder/Developer

Definitive Developments was founded by David and Miranda Seeney. The married couple have been  together since their teen years. David previously worked in construction management and Miranda had worked for Stylemaster Homes since 2005.  As mentioned before, this is David and Miranda’s first new-build project. As the two directors of the company they complement each other in their respective fields of interest. David is the builder and Miranda the interior designer.

Investment Analysis

Two (2) Bedroom apartments start at $765,000. Three (3) Bedroom apartments start at $925, 000. We do not have estimated of rental returns or body corporate fee’s.

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