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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 The information contained within this article may be incorrect or out of date.
11-15 Eton Street Nundah is a relatively small apartment complex of just 19 apartments that is walking distance from Nundah Village and the Nundah Train Station. The building is close to completion and there are a handful of two (2) bedroom, two (2) bathroom apartments remaining for sale. Those who purchase in this building will benefit from the significant amount of investment and development that has occurred over the past five years at Circa Nundah Village, regardless of whether they are an investor or owner-occupier. For those who have not been to Nundah for a while, we strongly recommend paying the area a visit to witness the new life and activity that now exists there as a result of urban renewal.
11-15 Eton Street consists of 19 apartments over five levels. There are 16 x two (2) bedroom, two (2) bathroom units and a further 3 x three (3) bedroom units. There are 4 apartments left for sale at this project, all of which are two (2) bedroom configurations. These apartments are all priced between $460,000 and $475,000.
The remaining apartments are between 87m² and 93m² internally, which is a decent size for new apartments in the market today. The majority of the remaining apartments have 12m² balconies, whilst one apartment on a higher level has a 24m² balcony.
There are four different apartment types remaining for sale. On the whole, these apartments are designed quite well and make good use of the space. They all have separate laundries and linen cupboards and three of the configurations have a study nook which is a great addition to any apartment.
There is a potential downside in two of the floor plans that place both bedrooms immediately beside each other. This would likely make shared living more difficult than having bedrooms separated by a bathroom or on opposite sides of the apartment. All of the second bathrooms have bathtubs and in some cases the master bedrooms are 3.8m x 3.3m which is larger than average.
Another positive of the floorplans is the large ‘U’ shaped entertainer kitchens that many of them have. This is a great feature that makes kitchens much more enjoyable to use.
Each apartment in this project comes with a single car park. There are three car parks for visitors. As with most new developments in Brisbane, street parking may be a bit of an issue around this building. Although Nundah is not the busiest suburb in Brisbane, the streets around this particular property are quite busy.
Location:
This project is located at 11-15 Eton Street in Nundah. Eton Street is off Sandgate Road, which is a major arterial heading into the CBD. The immediate area surrounding this project is made up of a mix of residential homes, mid-rise apartment buildings and light industrial space. Apartments on the street-side of the building overlook a car yard and those on the rear of the building overlook houses. Residents in this project could walk to Nundah Village and Nundah Train Station in less than five minutes. This really is the key selling point of this location.
Those apartment buildings are where Nundah Village starts. As seen from the end of Eton Street. Photo taken 17/08/2016.
The Nundah Village precinct is at the tail end of a massive urban renewal that has brought retail, dining, entertainment and services to the area. Some of the major draw cards of the new Nundah Village is Queensland’s largest Go Health Club, Primal Pantry, King of Cakes and the newly redeveloped pub The Royal (formerly The Royal English Hotel).
Part of Nundah Village is a pre-established village hub that has a range of stores and services surrounding the Circa Nundah Village Precinct. There is a Woolworths, Farmer’s Market, Australia Post and several boutique stores and cafes. This is a small hub that really has a good community feel to it which is enhanced by the restricted traffic conditions in the area. All of this is within walking distance of Eton Street.
Eton Street is approximately 200m from Nundah Train Station. The Ipswich, Cleveland, Shorncliffe and Cleveland Lines run from this station. A trip into Central Station from Nundah Station takes 16 minutes and trains leave every 9 minutes, so it is a very easy and convenient commute to work.
There are several schools in the local area. Just 1.5km from this project, there are three schools – St Joseph’s Nundah, Nundah Primary and Mary Mackillop College. Also, given that ease of access to train travel, schools in the city and near train stations are an easy option. These would include secondary private schools in the city such as Brisbane Grammar School, Gregory Terrace, All Hallows and others.
At the 2011 Census, the population of Nundah was 10,392 people. This figure had increased by 25% since the previous Census in 2006. This is quite substantial population growth that is consistent with inner city urban renewal regions. Couples with no children are the predominant housing type in Nundah, making up 26.7% of all households. However, a further 26% of households in the area are couples with children. The median unit price in Nundah is $415,000, a figure that has increased by 4% over the past 12 months. The suburbs median rent for an apartment is $390 per week. Neighbouring suburbs include Northgate, Hendra, Lutwyche and Wavell Heights.
Quality and Finishes:
11-15 Eton Street is fitted out with modern appliances that are in line with the price point of the apartments.
There is a single colour scheme in this apartment building which consists of ‘light’ tones.
Each apartment in this complex has air-conditioning to bedrooms 1 and 2, as well as the main living area. The air-conditioning units will be located on the balconies of each apartment. We feel that this really detracts from the usability and appeal of the balconies unfortunately.
The kitchen and living areas will be tiled throughout, whilst the bedrooms are carpeted.
The overall design and quality of the kitchen is standard for new apartment projects across Brisbane. The bench top is 20mm stone, the splash back is tiled and the cupboard doors are melamine.
As this is a small project, there isn’t a huge amount of marketing material available that displays all of the finishes in detail. However, there are several apartments available for viewing
Given that the building is close to shops and public transport and many of the larger apartments seem to be designed for shared living, it is likely that many of the apartments in this project are intended to be purchased by investors.
Rental appraisals for this project are available upon request to the sales agent.
In terms of body corporate, each unit at 11-15 Eton Street will pay an annual rate of $2,000. This is a low figure that will be attractive to investors and first home buyers alike.
There are a number of new developments on the market in the local area. In this particular pocket of Nundah, just outside the village, there are two other apartment buildings under construction – Arlington Apartments and The Link. These are both on Nundah Street which adjoins Eton Street. Both of these other projects have a considerably greater number of apartments in them so are quite different to this project which has just 19 apartments. The Link offers slightly smaller apartments for a slightly higher price, however their finishes are higher quality and residents at that project have a rooftop deck. Arlington Apartments are similar in price and quality to Eton Street.
We recommend that if you are in the market, speak to the sales agents to see which project would suit your needs best. Or, read the Property Mash reviews to see how they compare!
The construction company working on this project is called MSF Builders and the developer is Ferraro Developments. These are both small, privately owned development companies based in Brisbane. There is always additional risk when the developer and builder are smaller companies. The risks lie in the developer’s ability to complete the project and the builder’s ability to build it to a high standard. This project is quite close to completion, so the risks involved are greatly mitigated by the fact that buyers can expect the property and see that it is going to be built. Also, the sales agent for this project is happy to take buyers through a previous development so that they can see another product that the developer has worked on.
There are inspections for this property on Saturdays at 9am.
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