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This is independent editorial content written by a PropertyMash Journalist. While we try to ensure all information is as accurate as possible, please double check with the developer or real estate agent directly before making a purchasing decision. The information contained within this article may be incorrect or out of date.
Oxy Stones Corner is a new apartment project on Zillah Street in Stones Corner. This is a hotly contested pocket of Stones Corner with several other apartment projects either under construction or being sold in the immediate area.
Oxy is a relatively new offering to the market that has started construction. The developer, Lantona, is also the builder for this project and they have indicated a willingness to work with clients to customise their apartments. This will be done at a cost, of course. But it is great to see a developer that is actively trying to help buyers get the perfect apartment. It is likely that this project will appeal to savvy buyers who have specific wants and needs that cannot be met at other projects. Whether you are an owner-occupier or an investor, this will surely be of benefit.
Oxy Stones Corner consists of 60 apartments over 9 levels.
There are 22 x one bedroom apartments that are priced from $389,000. Internally, these apartments span between 56m² and 67m². These are very well designed one bedroom units in our opinion. They feature walk in robes and the bathroom is accessible through the bedroom and from the main living area. There is a kitchen island as well which greatly enhances the usability of the kitchen. Also, the balcony is accessible from the main bedroom and the living area.
The two bedroom units at Oxy start from $517,000 and are 78m² internally with balconies ranging from 9m² to 20m². The majority of these are also designed very well. The majority of them are perfect for sharing, with both bedrooms and bathrooms on opposite sides of the apartment to each other, separate laundries and kitchen islands. There are a few floor plans where both of the bedrooms are pushed up against each other which makes shared living a little more difficult. However it is likely that there are many buyers that the floor plan will suit regardless of this fact.
Credit must go to the designers of this building for ensuring that essentially every bedroom gets natural light. Again, it’s little things like this that enhance the livability of apartments and it is encouraging to see a building that has such thoughtful design.
In terms of parking, the three (3) bedroom apartments have two side-by-side car parks, whilst the one (1) and two (2) bedroom apartments have a single car park. There are nine visitor car parks.
There is ducted air conditioning and fans in these apartments.
Top level deck with views towards the CBD. Supplied by developer.
There is a rooftop deck integrated into the top level of this building. That is, it shares the top level with other apartments. It is possible that there may be a noise issue if you purchase an apartment on the top level since access to the deck is through this level. The communal space will have views out over the city and the park. It is a landscaped area with plenty of seating and tables, as well as a gym and a bathroom.
Buyers on the Zillah Street side of the building will have a great outlook over the park and to the city. Apartments on the other side of the building have a suburban outlook over houses.
Location:
Oxy Stones Corner is located at 12 Zillah Street, Stones Corner. Stones Corner is a small part of Greenslopes in Brisbane’s Inner East. It is adjacent to Annerley, Wooloongabba and Coorparoo. The area is characterised by older houses and apartment buildings as well as some new apartments buildings that are now springing up.
The site was an empty lot when we visited on 17/08/2016.
This project is 50m 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.
Hanlon Park. Photo taken 17/08/2016.
Just 250m away from Oxy Stones Corner is Stones Corner Village. Walking here would take approximately three minutes from Oxy Stones Corner. There are quite a few shops inside the centre and in the surrounding precinct. The largest shop in The Village is Aldi, but there is also a pharmacy, Asian grocer, hairdresser and newsagent. There is also an alfresco dining area at the front of the village that has several restaurants. 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.
Stones Corner Village is a great local shopping centre within walking distance of Oxy.
In terms of public transport, the Stones Corner Bus Station is just five minutes walk from Oxy Stones Corner. 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 drawcard 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 1.2km’s from Oxy 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 3km’s away. Together, these hospitals employee close to 10,000 people. This puts a total of 18,500 hospital staff within 3km’s of Oxy Stones Corner.
The location is, however, quite busy and feels more ‘inner city’ than ‘suburban.’ There are several apartment projects under construction within 500m of Oxy such as Lincoln on the Park and Cedar. There are also several approved sites in the area that may or may not get constructed in the recent future.
Stones Corner is a small pocket of Greenslopes in Brisbane’s South. Greenslopes is a family-oriented neighbourhood. According to the latest Census, couples with children were the predominant household type in the area. The population of the area is currently 8,551 persons and it has grown by 5% over the past five years. Renters make up 55% of households in the area and the median rent is $470 per week.
Quality and Finishes:
One of the key selling points of this project is the ability to customise. This means that buyers can work with the developers interior designer to change their floorplan how they want.
There are also some standard options and upgrades available, such as an appliance upgrade. As with most new projects, there is a light colour scheme and a dark colour scheme to choose from. Available upgrades include changing from DeLonghi appliances to Bosch and a blinds package. This applies to the oven, rangehood, dishwasher, microwave and dryer.
Kitchen render. Supplied by developer.
Aside from this, the finishes and fittings at this project are modern and economical. Stylistically, they are in-line with what is on offer in many other apartment projects on the market in Brisbane today. They feature stone bench-tops with waterfall edging which is a nice edition not often seen in this price bracket, feature tiles in the bathroom and large tiles throughout the living area and kitchen. The kitchen and bathroom cabinetry is timber-look laminex.
Bathroom render. Supplied by developer.
As this apartment project is designed with the investor in mind, there is a range of financial data and modelling available from the sales agents to show how these units are predicted to perform over time. If you are interested in an investment, we highly recommend talking to them and going through the numbers in details because it is quite interesting.
The yearly body corporate fee for one bedroom apartments at Oxy is approximately $2,900 whilst the two and three bedroom rate is slightly higher at $3,000. PropertyMash believes that this is a relatively competitive rate for a building of this size with a landscaped communal area and gym.
The expected rental return for one ) bedroom units at Oxy is between $420 and $440 per week. For two bedroom units this figure is $495 to $540 per week and for three bedroom units are expected to return between $600 and $650 per week.
As we mentioned earlier, there are several new developments in the local area. Two that are quite similar are Lincoln On The Park and Stoneham.
Lantona is building and developing this project. They are a privately owned Brisbane developer. They recently worked on The Madison in Indooroopilly which is a 22 unit development.
There is a display suite located at 380 Logan Rd, Stones Corner. It is open at varying times Tuesday to Saturday or by appointment. Currently, because construction has started, the display suite is a little small, but as soon as apartments become available for viewing then the display suite will be relocated.
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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.