Linton – Affordable Living Close to the CBD

By: Property Mash: June 22, 2016, Updated: July 12, 2018

  • Located on Linton Street in Kangaroo Point (4169).
  • 144 x one (1), two (2) & three (3) bedroom apartments priced from $402,000 to $1,100,000.
  • Lower price per square metre than the immediate competition.
  • Less than 40 apartments remaining for sale.
  • Option to purchase apartments at a discount through the property fund that is managed by the developer.
  • Construction due to be complete early 2019.
Construction Update 10/03/18
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Quantum Group, the developer of Linton, is an investment company and fund manager that was founded in 1999. They specialise in creating apartments for investors. As such, these apartments are predominantly targeted toward the investor market. The building backs onto the busy Vulture Street in Woolloongabba (4102) and is surrounded by a mix of residential, commercial and light industrial. It is also across the road from ‘The Gabba’ Stadium. Linton Apartments do not try to be something they are not. They are designed to stack up financially in order to appeal to investors.

The site for this development was chosen due to its proximity to major employment nodes, educational institutions, transport options and major infrastructure projects. This was done with the aim of creating value for both investors and the tenants that will live in these apartments upon completion.

The Project

Linton comprises 144 apartments over 15 levels. As stated above, the project is predominantly targeted toward investors, however there is a small amount of stock for owner-occupiers in this building. The north side of the building, which fronts Linton Road, will boast views toward the city, particularly on level eight and above. There will not be any development immediately in front of this side of the building due to the zoning of the area. The developers have capitalised on this fact by placing several larger three bedroom apartments on this side of the building that will get great views towards the CBD.

Linton Proposed View

Photo of the view from top level apartments on the north-west side of Linton.  Supplied by Developer.

Apartments on the southern side of Linton will look into The Gabba Stadium, while those on the eastern side of the building are overlooking a 7/11 petrol station. The western side of the building looks onto the Cricketers Club car park and a small retail complex that has a Domino’s, an Indian restaurant and a laundromat.

Linton location photo

Linton is located on the same block as ‘The Gabba.’  Photo taken onsite 30/05/2016.

Out of the 144 apartments in Linton, 20 will be utilised as short-term accommodation, which will be managed on-site. This is a Brisbane City Council requirement of building a new apartment complex within the immediate vicinity of The Gabba.

Unlike the majority of new apartment buildings in Brisbane, the residents car parking in Linton is above ground as part of the podium levels. This feature will ultimately save the developer on construction costs and no doubt contributes to the lower overall cost of the apartments.  It will, however, cause increased noise from cars parking. Each apartment in Linton has been allocated one car park, while four of the larger three (3) bedroom apartments come with two car spaces.

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Render showing proposed ground floor dining space.  Supplied by developer.

The ground floor of Linton will have approximately 400sq m of retail space. This is envisioned to be a restaurant and cafe space. The design for this building also encompasses a pool deck on level eight which will have expansive views to the city, as well as a terrace/recreational area for residents on the rooftop.

The Linton Podium

Render of pool deck with views towards city.  Supplied by developer.

A unique selling point of this building is the fact residents will enjoy unmetered gas for an annual fee as part of a deal between the developer and Origin Energy. The apartments come with gas cooktops and gas hot water systems, so this will surely be an attractive feature for those looking to minimise costs.

Location:

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Looking to the east from the site to the 7/11 Petrol Station

As discussed above, Linton is not in the most picturesque location. It is situated on a main road next to a service station and across from a sporting stadium. However, the location of this building was not intended to be picturesque. It was intended to appeal to both investors and renters and it does this quite well.

Having said that, the larger three (3) bedroom apartments on the north side of the building will definitely have owner occupier appeal.

Kangaroo Point is within close proximity to the CBD, which is Queensland’s largest employment node. There are approximately 157,000 people employed within Brisbane’s CBD, a figure that is predicted to increase by 65,000 by 2031. On top of this, the Mater Hospital and the PA hospital are both nearby and employ a significant number of medical professionals. It is likely that Kangaroo Point will experience both dwelling price growth and increased demand for rental properties due to the sheer number of jobs nearby.

Linton Aerial Map

Contextual aerial of Linton.  Supplied by Developer.

There are also several major educational institutions close to Linton that have a collective student population of approximately 73,000. The University of Queensland is easily accessible via the Eleanor Schonell Bridge and Queensland University of Technology’s Gardens Point campus is just 2kms away. On top of this, nearby Southbank (4101) is home to the Southbank Institute of Technology, The Queensland Conservatorium of Music and Queensland College of Arts. Again, this huge student population that is all relatively close to Linton will help to drive rental demand for the apartments in the building.

There are plenty of shops, cafes and supermarkets in Kangaroo Point and neighbouring Woolloongabba that are all easily accessible from Linton. In fact, within a one km radius of the building there is a Coles, several cafes and a number of fast-food outlets. On top of this, the Logan Road Dining Precinct is quickly become one of Brisbane’s hottest food destinations, with top-range venues such as 1889 Enoteca, Canvas and Pearl Cafe.

The Kangaroo Point and Woolloongabba neighbourhood has benefited hugely from new development in recent years. With a significant amount of light industrial areas and warehouse spaces, the area was ripe for urban renewal. Today, we are seeing this renewal take hold and  a completely new atmosphere  is starting to take over. There are always new shops, bars and cafes opening up and there are several annual street parties as well.

Quality and Finishes:

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Given the target market and price point of Linton apartments, it would be fair to say the fixtures and fittings at Linton are not top of the range or luxury. The apartments have been fitted out with well-priced, quality goods. In terms of appliances, the cooktop, oven, dishwasher and microwave are all from AEG. Kitchens in Linton apartments come with a glass splashback and 20 mm reconstituted stone benchtop. The bathrooms have polished chrome taps supplied by Grohe and gloss tiles. Each apartment comes with a 5 kg dryer and has split system air conditioning. Buyers will have a choice between dark and light colour schemes.

Investment Analysis – Rent/Onsite Managers:

Investment fundamentals are where Linton really comes into its own. The apartments are affordable when compared to the competition in the immediate area.  The price per square metre is quite low.  For example, a mid-level two (2) bedroom two (2) bathroom apartment is listed at $6333 per square meter.  Quantum Group is marketing this rate as the best value in Brisbane.

Boasting an average price per square meter of $6,333, these apartments are between 17% and 44% more affordable than comparable apartment buildings in Kangaroo Point according to the Developer.

The starting price for these apartments is $402,000. However, this is for the one bedroom configuration and there are no more of these remaining. There are several two bedroom apartments  still for sale. These are priced between $532,000 and $612,000, which is an excellent price point for a two bedroom investment property. Buyers can also still purchase a limited number of three bedroom apartments at Linton, which are priced from $688,000 to $1.1 million.

At the time of writing this review, Linton apartments was in the process of updating the rental appraisals for all apartments in the building. Brent, the sales agent on-site, advised Property Mash that he tell potential clients Linton apartments will yield an approximate rental return of 4 per cent, which seems to be a realistic figure to us. Rental returns have softened across Brisbane over the past 12 months as the market experiences a slight downturn after several years of relatively high rents and very tight vacancy rates.

Developer & Builder Overview:

Quantum Group is the developer of this project and they are also the financier. This is a unique development group in that they arrange funding for the project and also offer special financial tools that allow purchasers to acquire apartments at a discount. Put simply, they specialise in properties that are truly investment assets.

They also have a successful track record of delivering projects. Since its 1999 inception, Quantum Group has delivered $1.4 billion worth of residential and commercial property developments.

At the time of writing this review, the developer was in the final stages of selecting a builder to deliver this project.

Sales Display & Contacts:

Linton Sales Office

Front door to sales display.  Photo taken 3005/2016.

The Linton sales display is located on the corner of Wellington Road and Stanley Street in Woolloongabba. It is open from 10am to 6pm weekdays and appointments are recommended. The sales display has a scale model of the building, as well as a fully fitted out kitchen. There are also mock-ups of how the bathroom and shower will look, along with fixtures boards.

Linton Display Model

Linton Display Model

Model of Linton as seen inside sales display.  Photo taken inside display 30/05/2016.

This office is a 300m walk from the development site. Currently, there is hoarding around the construction site and initial site works have commenced.

Developer Promotional Video:

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