Elysium – Walk To Nundah Village Or Train

22 Dwyer Street, Nundah, QLD 4012 See 5 more projects in Nundah

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  • Walking distance from Nundah Train Station, Nundah Village and Oxenham Park
  • 25 apartments over six levels
  • 18 x two (2) bedroom apartments; 7 x three (3) bedroom apartments
  • Only 7 x two (2) bedroom apartments remain for sale
  • Remaining apartments priced between $469,000 and $485,000
  • Located on Dwyer Street in Nundah (4012)

Elysium is a new project in Nundah that is just months away from completion.  It is a mid-rise apartment building without extra amenities like pools or gyms, which will suit buyers looking to avoid exorbitant body corporate rates.

The project is located just outside the new Circa Nundah Village Precinct, which won the Urban Development Institute of Australia’s award for Best Urban Renewal Project.  From its location on Dwyer Street, Elysium is a five minute walk to Nundah Train Station and the Nundah Woolworths, as well as a variety of other stores inside Nundah Village.

The Project:

Elysium is a six level apartment building consisting of 18 x two (2) bedroom, two (2) bathroom apartments and 7 x three (3) bedroom apartments.  There are two levels of car parking, one of which is in the basement and the other is on the ground.  Five car parks have been allocated to visitors.  Each remaining two bedroom apartment has one car park allocated to it, with no option to purchase an extra space.

The outlook from the apartments is suburban.  Some apartments look into/over neighbouring homes or apartment buildings, whilst others higher up have a nice suburban outlook.

View from Elysium deck

View from Elysium deck

There are 7 x two (2) bedroom, two (2) bathroom apartments remaining for sale at Elysium.  These units are priced from $469,000 and $485,000.  This is a good price point for two bedroom apartments in Brisbane and has attracted several investors and first home buyers to this project.

Internally, the smallest of these apartments is 75m² and the largest is 88m².  The balconies range between 10m² and 15m².  These would likely be described as standard size.  However, PropertyMash visited the largest two bedroom apartment on level 1 and it felt quite large inside, particularly the kitchen and open plan living area.  This was because the kitchen and living area was one long rectangle.  It made for quite a spacious, comfortable space.  The balcony on this apartment had a nice pergola and some planters for privacy which created a nice space as well.

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Large kitchen and living area. Photo taken onsite 20/06/2016.

There are no additional amenities or features at Elysium which, as we said before, will appeal to buyers looking to avoid paying large body corporate fees each year.

The entrance to the building has some interesting metal columns on its corners, which is reminiscent of some new commercial buildings in the CBD.  These are a special feature of this building.

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Metal columns at Elysium. Photo taken onsite 20/06/2016.

Location:

A major selling point of Elysium is its location.  It is an eight minute walk from the new Circa Nundah Village, which is an urban renewal project that has greatly benefited Nundah as a whole.  This precinct is home to Queensland’s largest Go Health Club, as well as a variety of restaurants, an Endota Spa, Studio Pilates and the newly renovated Royal Hotel.

Nundah Village as a whole 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.  This is enhanced by the restricted traffic conditions in the area.

View of Dwyer Street

View of Dwyer Street

Elysium is located on Dwyer Street.  This street is predominantly made up of houses and apartment blocks of around five levels.  At the end of the street is Oxenham Park, which has two large sporting ovals and a bowls club.  On the other side of the park is 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.

There are several schools in the local area.  Just 1.5km from Elysium are three schools – St Joseph’s Nundah, Nundah Primary and Mary Mackillop College.  Also, given that train travel is a viable option from Elysium, schools in the city and near train stations are an option.  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:

Apartments at Elysium have been appointed with economical and modern fixtures and fittings.  There are no colour scheme options available as these apartments have already been fitted out.

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Oven, cook top and slide out range hood at Elysium. Photo taken onsite 20/06/2016.

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 3/4 size.

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Sink and bench top inside the display unit. Photo taken onsite 20/06/2016.

Residents will be able to have large, double fridges in these apartments based on the size of the space that has been left for fridges.  This is a great feature, as apartments in this price range usually do not allow for fridges this big.

The bench tops in the kitchen are 20mm reconstituted stone and the cabinetry is a glossy laminate.

There is split system air conditioning to the main bedroom and living area in all apartments at Elysium.  There are also fans in all bedrooms and living areas.  A downside of the design in this building is the fact that the air conditioning units for each apartment are on the balcony.

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Fan in second bedroom at furnished display unit. 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 storage space and hanging space.

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These are the cupboards that are in both bedrooms. Photo taken onsite 20/07/2016.

Investment Analysis – Rent / Onsite Managers:

This is yet to be supplied to us. We will update as soon as we are able to get it from the Developer.

Local Competition:

There is local competition from some larger apartment buildings inside the Nundah Village precinct.  These are Circa Three and Village Central, which are being developed by Property Solutions and Gardner Vaughan Group respectively.  Both of these buildings are closer to the train station and closer into Nundah Village.  So, they will be slightly more convenient in terms of having access to amenity and transport.  However, the flip side of this is increased noise and activity, being located inside that central hub.

There are several smaller developments underway in suburban Nundah as well.  Two of these are York & Co, which is located approximately 150m from Elysium and another is at 18 David Street, which is closer to Toombul Shopping Centre.  Both of these developments are quite similar to Elysium in price and level of finishes.  There are small differences in the location and size of each building.

Developer & Builder Overview:

Elysium is being developed by Lynchpyn Pty Ltd.  This is a small, private developer based in Brisbane.  It has delivered several projects across Brisbane and grew from a small business to what it is today, developing land estates, townhouses and high density apartment buildings.

The builder for Elysium 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 – Elysium and a building at 18 David Street.  They also have projects in Mount Gravatt, Corinda and Wynnum.

Sales Display & Contacts:

There are several display units available for viewing at Elysium as the building is close to completion.  The sales agent for the project is Adam Gray.  He does open homes at Elysium on Saturdays from 10:00am to 10:45am. Inspections can also be booked by appointment.

 

Written: 19 August 2016, Updated: 16 August 2018

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