Saltaire residential development complete as Wynnum residential trend continues
With views of Moreton Bay, a rooftop terrace, this flashy new apartment complex is the latest addition to the residential boom on Brisbane’s bayside that’s helping this suburb shed its “poor brother” reputation. SEE THE PICTURES
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A residential boom, capped off with the recent completion of a new $10 million apartment complex, has helped Wynnum shed the tag of the bayside’s “poor brother” suburb.
That is according to a real estate agent in charge of selling and renting the flashy, new apartments at the suburb’s latest residential development.
Works were recently complete on Saltaire, a 20-apartment complex on Elmsworth St with views of Moreton Bay, after construction started in August, 2019.
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The revealing of the new development also comes at a time where Lato Baia, the new residential complex above the historic and under construction Wynnum Cinema is nearing completion.
Both developments are building on a unit boom in Wynnum in recent years, which real estate agent Scott Westwood from Best Price Properties, who are in charge of selling and renting the units at Saltaire, said have changed the perception of the suburb for good.
“As far as I can tell there are a couple of major factors contributing to the increase number of developments in Wynnum,” he said.
“It was the poor brother of Manly and prices in Manly are out of reach for most buyers, so moving into Wynnum is just as good as Manly plus there are more community facilities in Wynnum.
“Also the Brisbane City Council passed a law allowing development around train stations to help get people to live close to transport hubs.”
Saltaire consists of 18 two-bedroom and two one-bedroom apartments and includes other facilities such as a rooftop terrace.
Although Saltaire is on the other side of the train line compared to the Wynnum CBD and most other new complexes, which are closer to the waterfront, Mr Westwood said the perception of some buyers had changed.
“For years there was a real divide in which side of the train lines you purchased a property in Wynnum,” he said.
“The western side was the so called poor side, that has changed now because people realise that buying an apartment in the main shopping district, east side of train lines, that most of the apartments include a commercial area of some kind, be it a restaurant, take away show or some noisy and smelly business operating under your residence.
“In the area Saltaire has been constructed, developers are not allowed to include commercial space in the buildings which a lot of buyers prefer not to live above that noise and also there is no problems finding a park outside your property when your guests arrive to meet you.
“The buyers who buy along the waterside want ocean views, which is great for daytime, however it is like looking into a black space after dark.
“Sitting on the Balcony of Saltaire gives you view of the bay and also of the lights at night of the waterfront properties, so there is always something to look at.”
Most of the apartments have already been sold with 14 of the 20 under contract with other units up for sale from $450,000.