A $180 MILLION residential tower promises to bring a touch of paradise to the heart of Fortitude Valley.
Utopia has been given the green light following council approval and is the first of a number of Brisbane projects by Sandt Developments, headed by Bill Wang and Ben Collins, and backed by a consortium of foreign investors.
The 24-level tower will have 300 high-end one and twobedroom apartments and will be launched in early July.
According to RP Data the three-lot 2036sq m site at 275 Wickham St was bought last year for $8.98 million.
Mr Wang said Utopia would add to Fortitude Valley’s eclectic mix of heritagelisted and modern buildings.
“Utopia will take Brisbane’s inner urban lifestyle to a new level by incorporating luxury, innovation and functionality in its design and the range of facilities and services available,” he said.
“Its sophistication will appeal to the young, hip professionals who are drawn to The Valley’s vibrant arts, dining, shopping and entertainment scene. They will also value the location on the doorstep of the CBD and close to a range of public transport options.”
Utopia’s residents will have access to a recreation deck and an extensive rooftop garden featuring an open-air cinema, yoga lawn and an alfresco dining area.
Designed by Kris Kowalski Architects, Utopia will also incorporate a 400sq m retail precinct fronting Wickham St.
Also, Metro Property Developments has unveiled plans for a 30-storey, 376-apartment tower at 19 Hope St in South Brisbane. The Brisbane Casino Towers project will be launched in mid-June after Metro acquired the site in March for $18.75 million.
Metro last week finalised the purchase of a nearby 1800sq m residential-zoned site at 13-17 Manning St for just over $20 million. That deal was struck by Elders Commercial’s Carl Charalambous who recently sold another site at 22-28 Merivale St for $22.2 million to Abacus Property Group and KPG Capital.