The evolution of higher density cities in Australia continues with the increasing demand for properties tailored to the white collar rental market.
The area extending out from Teneriffe/Newstead boundary to incorporate the lower end of Fortitude Valley currently holds court in Australia’s fastest growing office market. This vicinity is made up of 40,000 office workers within 400,000m2 of office space. The Newstead Riverpark alone will house a future 10,000 workers. Large new generation companies already occupying the area include AECOM, BOQ, Bechtel, Cardno, Energex, Laing O’Rourke and Virgin. Many of these companies’ staff occupy dwellings in the area.
A recent Census Report by Urbis, entitled ‘Australia’s Embrace of Medium and High Density Housing,’ provides statistical insight into a range of market trends that Teneriffe Realty have been following for a number of years. Residential apartment projects are often associated with a demand driven by price-conscious investors, yet the Census paper illustrated that a niche market existed for the ever-increasing number of white-collar renters and owner- occupiers seeking a higher standard of dwelling. Identifying a clear market for ‘higher income, 25-39 year old white- collar renters without many kids’, the report confirms a higher proportion of professional workers living in medium to high-density urban areas (80.3%) along with a higher rate of renters in these areas (48.7%).
A Sought After Lifestyle:
The Teneriffe/Newstead area is fast gaining an envied reputation for its vibrant and eclectic mix of independent boutiques, hip cafes and quirky retail stores. The pubs, cafes, wine bars and restaurants enjoy a more neighbourly character, where locals and visitors share a laugh over a perfectly brewed coffee or pint of craft ale.
Location – Second to None:
The area extending out from Teneriffe/Newstead boundary to incorporate the lower end of Fortitude Valley and James Street prescient incorporates –
- 104 fashion boutiques and counting
- 289 restaurants, cafes and bars
- 186 specialty shops
- 4 major supermarkets
- 11 fresh food markets
- 8 parks
- 36 gyms and yoga studios
- 16 art galleries
- 58 hairdressers
The area extending out from Teneriffe/Newstead boundary to incorporate the lower end of Fortitude Valley and James Street prescient includes five retail precincts with famous brands and award-winning restaurants. Big-name retailers include Woolworth, Coles, IGA, Terry White Chemist, Malouf Pharmacy, The Standard Markets, Space Furniture, Matt Blatt, Coco Republic, Mac1, Zimmermann, Mecca Cosmetica, Wheel & Barrow, Palace Cinemas, Bang and Olufsen, LuluLemon, Camilla, Sass & Bide and many more…..
Infrastructure – Second to none:
- Rapid Transit Bus Service
- City Glider
- Teneriffe Riverwalk
- Teneriffe CityCat ferry terminal
- Immediate access to the Airport Link Tunnel
- Bowen Hills railway station
- RNA Show Grounds & Convention Centre
- Clem 7 Tunnel
- Northern Busway
- Kingsford Smith Drive upgrade