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Velo is a four-level new apartment development located in Lutwyche, one of Brisbane’s oldest suburbs and 6km north of Brisbane’s CBD.
There will be 33 apartments, with eight one (1) bedroom apartments and 25 two (2) bedroom apartments.
The defining characteristic of this project is perhaps its location and proximity to Bradshaw Park and the Kedron Brook park and bike-way. This is a genuinely lovely area that is still relatively undiscovered. Lutwyche is certainly not what you would describe as a ‘trendy’ investment suburb, so if you are looking for value and are happy to drive to most amenity, then this is worth a look.
Velo is a four storey building which will have 33 apartments. The mix is eight one (1) bedroom apartments and 25 two (2) bedroom apartments.
Every apartment at least has one secure car park in the garage, which is accessed by a remote. Apartments and the main entrance are accessed by key swipe and there will be an audio intercom to ensure privacy and security.
The two bedrooms will have walk-in whereas the one bedroom apartments will have built-in wardrobes.
Velo Apartments will have NBN Fibre Optic cable in every apartment which will ensure fast internet for all residents.
All apartments will feature split system air-conditioning in bedrooms and living areas.
The kitchen opens into the living area with some apartments having their own study area. Floor plans also show a multi-purpose room in one of the two bedroom apartments. Every apartment has a spacious balcony ideal for entertaining and barbecues.
Construction of Velo is expected to be completed in late 2016.
Velo Apartments is located in the heart of Lutwyche on McGregor Avenue, just 350 metres away from the bustling Lutwyche Road and 6km from the Brisbane CBD. Lutwyche Road links to Gympie Road and takes you to Chermside, connecting to the Airport Link Tunnel.
If you are travelling north of Brisbane’s City on Lutwyche Road, then to get to Velo Apartments you need to turn left onto Bradshaw Street, turn right onto Lamington Avenue and then finally turn left onto Mcgregor Avenue. Velo Apartments is on your left as you drive into Mcgregor Avenue.
Lutwyche is one of Brisbane’s oldest suburbs and has a small population of 2,932. According to the 2011 Australian Census, the median age for the suburb is 32, five years below the Australian average. The suburb is currently undergoing a significant initial transformation with small to medium sized new apartment developments being built at a rapid pace. Lutwyche has traditionally been made up of older homes and walk up older unit developments, so the transformation is the start of a urban revitalisation for the area that will take a number of property cycles to mature. With Velo and similar new projects it is fair to say that you will be getting in at the start of this cycle.
Lutwyche Station is just 190 metres from Velo and buses can take you right into the city or north to Chermside Shopping Centre. Buses come frequently and can connect you to any part of Brisbane.
Velo Apartments is situated right on the leafy Bradshaw Park. This 1.68 ha park is a great place to have a picnic under shady trees, have fun in the children’s playground or play a game of cricket.
If you are a cyclist, the Kedron Brook Bikeway is a perfect way to journey through North Brisbane. This major bikeway links suburbs from Mitchelton to both Gympie and Sandgate Roads and also links to other bikeways like the Jim Soorley Bikeway. The Brook’s pathway and bikeway is an excellent place to exercise – free from busy traffic and exhaust fumes. Riding along the 32km track, you will discover off-leash dog parks, other picnic facilities and other parks. Currently the bikeway is undergoing an upgrade to provide new links to the track and widening existing sections of the pathway. This upgrade is expected to be completed in 2016. To support cyclists, Velo Apartments will have secure bike storage for all residents.
The closest shopping centre – only 500 metres away from Velo – is Lutwyche City, which has 33 stores, eateries and services, including Coles, Aldi, Australia Post and Terry White Chemists. To be honest it is a bit tired, and really is in need of an upgrade. It would be best to describe this as a large convenience centre.
The nearest major shopping centre, which really is world class, is Westfield Chermside. It is a 4km drive from Velo and its major stores are Myer, David Jones, Target, Big W, Kmart and Harris Scarfe, amongst many more – it has an Apple store so you get the idea… its big. Within the centre there are 409 stores, restaurants and services so you can shop ‘til you drop.
The suburbs neighbouring Lutwyche are Kedron, Windsor, Albion, Gordon Park, Grange and Wooloowin.
One-bedroom apartment prices start at $354,000 with the two bedroom apartment prices starting at $470,000.
Estimated body corporate fees are between $2,872 per year for a one-bedroom apartment and $2,856 for a two-bedroom apartment which is quite low.
Rent returns are expected to start from $330 per week for a one-bedroom apartment and $540 per week for a two-bedroom apartment.
Every new Velo apartment will have wool-blend carpets in the bedrooms and the living areas with ceramic floor tiles in the kitchen and bathrooms. Walls and ceilings will be plasterboard in the living areas and bedrooms, with tiles in the bathrooms.
In the kitchen, there will be an under-bench oven, range hood, gas cook-top and dishwasher all from the Häfele brand. In the laundry, there will be a hung clothes dryer, also from Häfele. There will be quartz bench tops – stain-resistant and highly resistant to scrapes and chips – and tiled splash backs. Sinks and tap ware in both the kitchen and bathroom will be from the Paco Jaanson brand.
Wooloowin train station is 1km away from Velo Apartments and services trains to the city, the Brisbane Airport, the Gold Coast and Sunshine Coast. As mentioned before, the Lutwyche Bus Station is only a quick walk away.
When picking schools, you are spoiled for choice around the Lutwyche area. The schools are Kedron State High School (four minutes away), Wooloowin State School (four minutes), Wilston State School (seven minutes), St Anthony’s Catholic Primary School (five minutes), St Mary of the Cross Catholic Primary School (five minutes), St Columba’s Catholic Primary School (six minutes), St Margaret’s Anglican Girls College (eight minutes), St Rita’s Catholic Girls College (eight minutes), Mount Alvernia Catholic Girls College (eight minutes) and Padua Roman Catholic Boys College (five minutes). There are also plenty of other schools in surrounding suburbs. Most will involve driving to school.
The closest hospital to Velo Apartments is the Royal Brisbane and Women’s Hospital. It is a seven minute drive from the apartments and is easily accessible by public transport, on the 340 bus from Lutwyche station. The Prince Charles Hospital and Holy Spirit Private Hospital are nine minutes away by car.
The Brisbane City Council’s Grange Library is a five minute drive from Velo Apartments and is open from Tuesday to Saturday.
In Lutwyche City Shopping Centre there is a Snap Fitness gymnasium that is open from Monday to Saturday at various times. There is also a Curves gym in the shopping centre and a Corporate Box gym next door so there are a variety of places to choose from.
Lutwyche bus station allows easy travel to multiple universities. The Queensland University of Technology (QUT) Kelvin Grove campus is 16 minutes from the station on the 333 bus. The QUT Gardens Point campus is an 18 minute ride on the 333 bus and then a 13 minute walk to the university. The University of Queensland is a 44 minute journey by catching the 340 bus to King George Station then riding the 412 bus to the St Lucia campus.
Place Projects are the marketing agents for Velo Apartments. The developer is Jade Corp who are experienced Brisbane based developers who have been in the business for 20 years. They are experienced property developers with a wide selection of similar sized projects throughout Brisbane which you will be able to check out to verify the quality of their work.