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The rejuvenation of Rosalie, an exclusive inner Brisbane neighbourhood

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The rejuvenation of Rosalie, an exclusive inner Brisbane neighbourhood

Back in January 2011, I remember making a mad dash to rescue a friend who lived just up the road from Rosalie because it was about to flood.

Her property was high and dry, like so many others, but the thought of being marooned for a day or more by herself made her feel uneasy.

So, she stayed at my place for a while, and we watched non-stop media coverage as parts of the city went under.

The rejuvenation of Rosalie, an exclusive inner Brisbane neighbourhood
The Spinks say the 2011 floods only made the Rosalie community stronger. Photo: Tammy Law

Like many low-lying parts of the city, parts of Rosalie came off second best in the floods, but this exclusive inner city precinct didn’t stay submerged for long.

In fact, the median house price in Paddington, of which Rosalie is a part, has increased more than 44 per cent in the past five years to now be $1.06 million, according to Domain Group data.

Local resident and director of Spinks & Co Residential, Rachael Spinks, said it didn’t take long for the market to bounce back.

The rejuvenation of Rosalie, an exclusive inner Brisbane neighbourhood
Rachael Spinks and husband Martin are passionate about their suburb of Rosalie, which is undergoing a transformation. Photo: Tammy Law

“It was devastating but I think it really brought the community together. Everyone was helping out and pitching in. People were coming to help that we didn’t even know,” she said.

“A lot of the houses didn’t get flooded, so there were a lot of people who were helping. People really rallied together as a big community.”

Rosalie Village and surrounding properties on Baroona Road bore the brunt of the flood but it turned out to be kind of a blessing for Ms Spinks and her developer husband, Martin.

The rejuvenation of Rosalie, an exclusive inner Brisbane neighbourhood
Rosalie is tipped to be the next James Street precinct as it transitions to a ‘more sophisticated retail mix’. Photo: Tammy Law

They had been about to begin redeveloping a commercial building at the entrance to the retail precinct, so the flood made them rethink the design of what would become the first of three properties they have now rejuvenated in the area.

“We saw the flood as a blessing in disguise. It turned out we retained the building and I suppose it made us wiser about how we treated downstairs. Our air conditioning and switch boards are up on the top level now,” he said.

“All of the ground floor is effectively brick and concrete, so if we get a flood again next time – (and) you do get plenty of warning – if you get everything out, it’s certainly not as bad.”

The rejuvenation of Rosalie, an exclusive inner Brisbane neighbourhood
Rosalie resident Rebecca Kroon was in love with Rosalie from the minute she laid eyes upon it. Photo: Robe

The couple has called Rosalie home since 2004, drawn in by its community atmosphere as well local schools.

They have seen it change over the years, as more professionals and young families moved into the timber and tin homes vacated by retirees.

Not that those homes come on the market often, with supply tightly-held and unit development almost non-existent.

Plus, you probably won’t get too much change from $750,000 for an entry-level cottage that needs a heck of a lot of love.

The retail strip is undergoing change of a different kind at present with a number of for lease signs evident, but that’s not a bad thing, it seems.

In fact, Mr Spinks said as the local population changes, the time was probably ripe for a more sophisticated retail mix, too.

“I think what we’re experiencing is that Rosalie started out as a little niche food area and they all were very family-oriented, low price point, very much cafe type of places,” he said.

“We’ve noticed in other areas, there’s been a raising of the bar from where they started from as well.

“By putting in buildings that say something about themselves, we’re actually trying to encourage that next level.”

Rebecca Kroon and her husband moved to Rosalie three years ago but their journey there was almost happenchance.

Originally from New Zealand, the couple were living in Melbourne when a job offer in Brisbane saw them visit the city to have a look around.

“We flew to Brisbane to do a reconnaissance mission in 2008 and one of the places that we came across was Rosalie Village,” she said.

“We just happened upon it and I said to my husband, ‘If we were ever to live permanently in Brisbane, I want to move somewhere like this’. It had the little deli and the restaurants.”

The problem was, when they shifted to Brisbane one year later, Rebecca couldn’t remember the name of the place that had clearly stolen her heart.

So, the family settled in Newmarket, until fate was to come calling once more.

“Someone suggested we come to Rosalie Village for brunch and I was like, ‘This is the place. I can’t believe we found the place that I was looking for. This is where we are supposed to be living’,” she said.

The couple now lives within walking distance of Rosalie Village and Rainworth State School, where their two children attend, and plan to be there a very long time.

“This is our forever home. We love it so much. In fact, we’re just about to start some renovations to turn it into our final perfect home.”

Five things you didn’t know about Rosalie

  • It has been a neighbourhood of Paddington since 1975.
  • It is home to the popular Blue Room Cinebar, which has undergone a major upgrade in recent times.
  • It is only about three kilometres to the Brisbane CBD.
  • Local students attend either Milton State School or Rainworth State School.
  • It is probably named after Rosalie Plains, which was owned by pastoralist John Frederick McDougall in the 1800s – no relation to me but you never know!

Source: www.domain.com.au

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Market Place

Will the new Brisbane State High School catchment affect property prices?

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Changes made to Brisbane State High School’s catchment zone are already affecting properties for sale in the area, according to local real estate agents.

The state government released new catchment maps last week which revealed Brisbane State High School’s catchment zone could be cut by 25 per cent to manage pressure on its rising enrolments.

The school’s current catchment stretches through West End and out to Dutton Park but, under the new draft catchment, students from more than 500 households in Dutton Park, Woolloongabba and Highgate Hill would no longer be eligible for direct entry to State High once the neighbouring high-rise school in Dutton Park opens in 2021.

brisbane state highschool

19A Gloucester Street, Highgate Hill, recently went under contract with four offers in one weekend because it will still fall in the catchment.

It’s been a devastating revelation for homeowners who bought in the area specifically to be in the catchment of Queensland’s top performing state high school, said Sam Peterffy, of Harcourts Homeside.

Not only are they upset at being kicked out of the catchment, they’re worried the value of their property will fall because if it, she said.

“Of course the people who are already living here are worried — many of them bought here for the school,” she said.

brisbane state highschool

7 Grantham Street, Dutton Park, is a six-bedroom family home that would fall outside of the Brisbane State High School catchment.

“I feel sorry for these people. They might have young children, aged five and under, and bought here planning for their children’s future. Now that’s up in the air. It’s not a great situation for them.”

Ms Peterffy said the local property market had already been affected.

“From a buyer perspective, I have people who were looking in these areas and have straight up said they’re no longer looking at Dutton Park or anywhere that’s out of the catchment,” she said.

brisbane state highschool

7 Grantham Street, Dutton Park: Marketing agent Ben Salm said being outside the BSHS catchment zone could potentially affect property prices of those homes who are currently in the catchment zone.

Brisbane State High School is a 3200-student strong, selective GPS school, sought-after for its top academic results and extensive extra curricular program.

Demand for places is so high, the school employed an investigator this year to uncover families rorting the catchment system.

Ben Salm of Place Estate Agents is selling a beautiful six-bedroom family home at Grantham Street, Dutton Park, that is currently in the State High catchment, but would be bumped out under the new plan.

He said it had already affected the property’s desirability for some buyers.

“It’s something we’ve seen a fair bit of with feedback from the buyers coming through,” he said.

“They’re unsure about the new school because it’s all so unknown at this stage; that creates a hesitancy and then you get less competition, which potentially means lower prices.

“Because this house is now looking like it’ll be out of the State High catchment, the feedback we’re getting suggests the price could be $50,000 less than what it might have been worth three to six months ago.

“There is a grace period though, so you never know what will happen.”

It’s important to note the effect on current and future families will not be immediate. Brisbane State High School students living in the proposed catchment zone for the new school will be allowed to remain enrolled at State High for the duration of their studies, while their siblings will still be able to enrol under transitional arrangements.

The government also said that families with primary school children living in a street which appears on both catchment maps can choose to enrol their child at either school.

But the changes are causing a lot of uncertainty. Ms Peterffy recently sold a house at Gloucester Street, Highgate Hill, a street where some houses will still fall in the catchment and others won’t.

This particular house will still be in the catchment, so the competition to secure it was strong, with four offers in one weekend, Ms Peterffy said.

“I had a couple who argued about it. The husband was saying that the new school was likely to be great but the wife was really worried about it,” she said.

“She just kept saying, ‘But it’s not going to be Brisbane State High, it won’t be the same’. So for them, the fact this house would still be in the catchment in a few years’ time was very important to them.

“That said, there will always be people who will want to buy in Dutton Park anyway. It’s the best suburb in Brisbane in my view.”

And Ms Peterffy said the silver lining would be in the new school, Inner City South State Secondary College, which had the potential to bring new buyers to the area long term.

“Some buyers who may not previously had Dutton Park and surrounding areas on their radar may come here because there is going to be a shiny new school with the best of everything and a connection to the University of Queensland,” she said.

“I know everyone wants to be in the State High catchment right now but my prediction is this new school will be in the top 10 state high schools in Queensland very quickly.”

Mr Salm said the property market could pick up again in these areas once the plans for the school are finalised and released to the public.

“It could actually create quite a bit of excitment in the area once there’s a lot more detail released and prices could go up again,” he said.

“I think in the long term this school will be competition for State High but at the moment it’s making buyers unsure about being in the area, and will only make competition for property staying in the State High catchment even tougher.”

The maps and the enrolment management plan are out for public consultation until September 30.

Source: www.domain.com.au

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Market Place

Medium Density Development Round-Up: Brisbane

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The Urban Developer recently published our first medium-density development round-up, covering five low-rise development proposals in Sydney.

This week we turn to sunny Queensland to seek out the latest in low- to medium-rise development in Brisbane – uncovering nearly $200 million worth of proposals that have recently entered planning assessment.


1. 79 Swann Road, Taringa

brisbane developers

Developer Sanchi’s proposal for “Green Spines” at 79 Swann Road, Taringa.

Its proximity to the University of Queensland and public transport makes Swann Road a popular destination for developers.

Sanchi Development has proposed a 6-storey Cottee Parker-designed project that will include 3-levels of basement parking.

The proposal is located nearby the Indooroopilly shopping centre and south-east bikeway with the Taringa Train Station and bus stops within 400 metres of the site.

The building will host a communal roof top terrace with views of Mt Coot-tha which will include a gym and BBQ facilities.


2. 69-71 Swann Road, Taringa

brisbane developers

Artist impression of Mosaic Property Group’s Swann Road, Taringa project.

Local developer Mosaic Property has proposed a low-rise, five-storey development at 69-71 Swann Road in Taringa.

The 1,256sq m site was purchased for $3.1 million and will be developed to deliver 16 dwellings.

Subject to approvals, construction will start early next year and is expected to cost $19.2 million.


3. 8-10 Amersham Street, West End

brisbane developer

Arkhefield implemented the Breath Design Philosophy to embrace natural light, ventilation, and passive cooling.

Developer Amersham Street Pty Ltd has lodged a proposal for a 5-storey residential development in Brisbane’s hip suburb of West End.

The $20 million project will create 23 units as well as 39 car parks with an estimated $9 million construction cost.

Each apartment has its own balcony or private terraces with the building topped by a rooftop garden with a fireplace and BBQ for tenants to take advantage of city views.

The project will launch to market early-2019.

Editor’s note: Adam Di Marco, founder of the Urban Developer, is a director of Amersham Street Pty Ltd.


4. 77 Walkers Way, Nundah

brisbane developer

Dennis Family Corporation’s proposal for 32 triple-storey townhouses in Nundah.

Dennis Family Corporation has lodged plans for 32 triple-storey townhouses along 77 Walkers Way in Nundah.

The $21 million development, designed by Ellivo Architects, is spread across 7,069sq m of rural zoning.

The project will include of 4,902sq m of communal space and 1,556sq m of private open space.

The site is located in within a 1 km of Toombul Shopping Centre and 3.5 km of Brisbane Airport.

The Dennis Family told The Urban Developer construction was expected to start late-2019 following pre-sales.

The property group is also going to tender to select a construction partner for the project.


5. Parkside, Springfield (Stage 2).

brisbane developer

Springfield City Group $39 million second stage in the heart of Springfield Central.

Springfield City Group’s second stage development in the heart of Springfield Central will create 74 apartments as well as 196sq m of ground floor commercial and retail space.

The $39 million development, designed by Plus Architecture, will overlook Robelle Domain Parklands and will be walking distance from Orion Town Centre and Springfield Central Train Station.

Construction commencement will be dependent on pre-sales, however, Springfield City Group told The Urban Developer the target commencement date was forecasted for the second or third quarter of 2019.

A builder has not yet been appointed to the project.

Source: theurbandeveloper.com

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Market Place

Brisbane House Price hits all-time high

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Brisbane

Brisbane house price has hit an all-time high.

The median brisbane house price is peaking at $673 000, which Real Estate Institute of Queensland (REIQ) says is a very good sign.

“It tells us that this market has well and truly recovered from the post GFC slump” CEO, Antonia Mercorella, said.

The latest Market Monitor report by REIQ revealed Brisbane’s median house price has increased 2.5% in the past year and 30% over five years.

The top growth suburbs across the city’s south include Holland Park West, Manly West and Carindale.

brisbane housing

Brisbane’s median house price has hit an all-time high. The median house price is peaking at $673 000, which Real Estate Institute of Queensland (REIQ) says is a very good sign. (9News)

In the city’s North, it’s Mitchelton, Stafford Heights and McDowall.

“Those suburbs are really popular with families in particular. And what they demonstrate is that there is good affordability.” Ms Mercorella said.

David Conboy is currently selling a five-bedroom, two-bathroom home at Mitchellton, asking $675,000.

He is not surprised the suburb is booming.

brisbane

 

 

Antonia Mercorella, said the post-GFC slump is over in the Brisbane property market. (9News)

“In this area we have a fantastic access to infrastructure to local schools, shops and public transport as well,” the Harcourts Property Sales and Marketing Consultant said.

A bit further out, the best performer in Greater Brisbane has been Caboolture South.

It has seen an increase of 30.4% to a median house price of $327 000.

Brisbane

Brisbane’s median house price has hit an all-time high. (9News)

“With the Bruce Highway improvements, we should continue to see those suburbs performing strongly, into the future” Ms Mercorella said.

Across Queensland, the coastal markets have seen the most growth.

Noosa on the Sunshine Coast taking out the top spot, up 6.9% to a median house price of $695,000.

It takes the title from the Gold Coast, where the median house price sits at $622,000.

“They offer just such a good lifestyle. You’re close to the water, close to nature” Ms Mercorella said.

Source: 9news.com

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