Mirvac fast tracks construction of its $135m Charlton House apartment project

With four $3m-plus villas already sold, construction on a $135m high-end apartment tower in one of Brisbane’s ritziest suburbs has been fast-tracked.

Property giant Mirvac has fast-tracked the construction of the next $135m stage of Australia’s first racecourse fronting new community, Ascot Green.

Work on the 14-storey Charlton House – in partnership with Eagle Farm Racecourse owner, Brisbane Racing Club – began just three months after its launch, with more than $70m worth of apartments already sold, mostly to local buyers. That includes four of the five pavilion apartments and villas priced at $3m plus.

An artist's impression of Charlton House overlooking the racetrack.

Mirvac general Manager residential Queensland Warwick Bible said it was a major milestone.

“Our buyers have shown strong confidence in Charlton House and, to start construction just three months after launch, shows we echo that confidence in this development and the broader Brisbane apartment market,” he said.

“This milestone gives our purchasers certainty with the knowledge their apartment is being delivered by Mirvac that designs, masterplans and manages its projects every step of the way and which has done so for over 50 years.

“The start of construction also signals the next phase of urban renewal for the historic Eagle Farm, giving more people the opportunity to live in this fantastic location.”

An artist's impression of the pool at Charlton House.

Charlton House marks the third stage of Mirvac’s Ascot Green community, part of Brisbane Racing Club’s $1.5bn masterplanned redevelopment of Eagle Farm, which will see the precinct transformed with luxury apartments, offices, a new shopping and dining precinct and a range of entertainment options.

Mirvac has already completed and sold-out Tulloch House and Ascot House at Ascot Green, with both buildings directly on Eagle Farm Racecourse, in the blue-chip suburb of Ascot.

The construction of Charlton House will create more than 300 direct and indirect construction jobs over its 21-month build program, anticipated for completion in mid-2024.

The building will have 113 one, two, three and four-bedroom apartments, and a limited collection of three and four-bedroom villas, selling from $499,000 through to more than $3m.

Charlton House will feature a rooftop sanctuary with a private dining room taking in Brisbane city skyline views. It also features intimate lounge areas and extensive subtropical landscaping, with a gym and resort-style pool on the ground level overlooking the racecourse.