18 David Street – Small apartment complex in a quiet street in Nundah

By: Property Mash: April 9, 2018, Updated: August 16, 2018

Interested in this project?

Please enter your details and we will email you the brochure.
  • 19 apartments – 2 x one (1) bedroom apartments; 17 x two (2) bedroom, two (2) bathroom apartments
  • One (1) bedroom apartments are priced from $349,000 to $369,000, whilst two (2) bedroom apartments are priced from $439,000 to $489,000
  • Just 1 apartment remains for sale
  • 5 minute walk from Toombul Shopping Centre, 10 minute walk from Nundah Village
  • Very low body corporate fee’s – under $2,000 /yr
  • Construction completed
alt image
alt image
alt image

18 David Street is a small apartment complex in Nundah (4012), with just 19 apartments due for completion in the next two to three months.  The project is located in a quiet, suburban street that is close to both Toombul Shopping Centre and the newly developed Circa Nundah Village.

There are only 11 x two (2) bedroom, two (2) bathroom apartments remaining for sale at 18 David Street.  One of these is a large ground floor unit with a 109 m² courtyard.

As this project is completed, there is opportunity for potential buyers to view the apartment that they are interested in purchasing.

The Project:

18 David Street is a small project consisting of just 19 apartments over two levels, with car parking on the ground floor.  There are many advantages to being in a small complex, including an increased sense of community and less noise.  However, the lack of basement car parking in a complex of this size means that there is slightly less security.  Security at 18 David Street is provided by a gate with key entry.

The remaining apartments in this complex are all two (2) bedroom, two (2) bathroom units.  There is a corner design which is 75m² internally with a 15m² balcony and a middle design that is 72m² internally with a 10m² balcony.  On the ground floor there is one large apartment remaining for sale that is 75m² internally with a 109m² courtyard. These remaining apartments are priced between $439,000 $489,000.

IMG_1283

Courtyard on the ground floor apartment. Photo taken onsite 20/07/2016.

Overall, these apartments have a nice feel.  The balconies and bedrooms have a suburban outlook over homes and trees.  The street is a quiet street so this really adds to the atmosphere of 18 David Street.

IMG_1282

View from a window on the first floor. Photo taken onsite 20/07/2016.

Inside, there is split system air conditioning in the main bedroom and living area, whilst the second bedrooms have fans.  Air conditioning is great to have in Brisbane apartments, however these apartments have the air conditioning units on the balconies instead of the roof or hidden away.  This would definitely detract from the outdoor areas, particularly if you want to use the balcony whilst the air conditioning is running.

IMG_1254

Air conditioning unit on balcony. Photo taken onsite 20/07/2016.

Location:

This project is located at 18 David Street in Nundah.  It is a five minute walk from Toombul Shopping Centre, which is quite a large shopping centre.  It has a Target, Kmart, Coles, Aldi and Event Cinema.  On top of this, there are a further 140 specialty stores at the centre.

Adjacent to Toombul Shopping Centre is the Toombul Train Station.The Ipswich, Cleveland, Shorncliffe and Cleveland Lines run from this station.  A trip into Central Station from Nundah Station takes 14 minutes and trains leave every 9 minutes.

A ten minute walk in the opposite direction of Toombul Shopping Centre is Circa Nundah Village.  This is a new urban development precinct that has a number of new shops and restaurants, and it has really helped transform Nundah.  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).

The Nundah Village redevelopment has been a large redevelopment project that has really transformed the area into a thriving hub. Bars, restaurants, burger outlets etc …. it has really added an urban ‘chic’ element to Nundah.

There are several schools in the local area.  Just 2km from 18 David Street are three schools – St Joseph’s Nundah, Nundah Primary and Mary Mackillop College.  Also, given that train travel is a viable option, schools in the city and near train stations are also accessible.  These include 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.

Quality and Finishes:

The finishes at 18 David Street are economical and modern.  As we said above, the apartments have essentially all been finished, so buyers can visit the apartments and inspect the interiors in detail.

w1600-h1200-w2000-h1125-2012362928_3_pi_151120_050641

Render of the kitchen. Supplied by developer.

There are no colour scheme options available as these apartments have already been fitted out.

IMG_1267

Kitchen in a corner two bedroom unit at 18 David Street. Photo taken onsite 20/07/2016.

In the kitchen, the appliances (cooktop, oven and dishwasher) are all Delonghi, which is a mid range appliance manufacturer.  The cooktop is a four burner gas cooktop and the sink is 1 and 1/2 size.

The bench tops in the kitchen are 20mm reconstituted stone and the cabinetry is a glossy laminate. We like the tapware, but it may not be to everyone’s taste

IMG_1251

Air conditioning unit in the living area. Photo taken onsite 20/07/2016.

There is split system air conditioning to the main bedroom and living area in all apartments at 18 David Street.  There is a fan in the second bedroom.

IMG_1261

The master bedroom has a small nook off to the side. Photo taken onsite 20/07/2016.

The bedrooms at this building are carpeted with built in wardrobes.  The wardrobes have mirrored sliding doors and built in hanging space, but they don’t have any built in storage space or shelving.

Investment Analysis – Rent / Onsite Managers:

The body corporate rates for the remaining two (2) bedroom apartments are quite low, given that there are no extra resident amenities at 18 David Street.  These range from $1,911 to $1,951 per annum which is very attractive.  The expected weekly rental returns for these apartments range from $450 to $500 per week.

There is no onsite manager at 18 David Street.

Local Competition:

There are several other new apartment projects in the Nundah area that are currently on the market.  These are all located closer to the Nundah Village precinct or inside it and are all larger apartment complexes.  Some of these buildings include Elysium, Circa Three and York & Co.  The major difference between 18 David Street and these other apartment buildings is the location and size of the building.  18 David Street is a much smaller complex than the others and is located in a quiet suburban street, whilst the other buildings are larger and in busier streets.  On the flip side of this, they are located much closer to the amenity at Circa Nundah Village.

Developer & Builder Overview:

18 David Street is being developed by a small, private developer.  The builder for the project is a company called Niclin Group.  This construction company does residential, commercial, retail and educational construction.  They have six apartment buildings currently underway across Brisbane.  Two of these are in Nundah – 18 David Street and a project on Dwyer Street call Elysium.  They also have projects in Mount Gravatt, Corinda and Wynnum. As the building is almost complete you should go onsite and inspect the quality of the build yourself before purchasing.

Sales Display & Contacts:

There are several display units available for viewing at 18 David Street as the building is close to completion.  The sales agent for the project is Adam Gray.  He does not do open homes at this project, but inspections can be made by appointment.

Interested in this project?

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.

avatar