Mirvac lodges plans for the third stage of its Ascot Green community

With units in two towers sold out, there are now plans for a new 14-level ‘subtropical inspired’ tower at Brisbane Racing Club’s $1.2bn precinct.

A surge in demand has sparked plans to be lodged for a new luxury 14-level subtropical-inspired apartment building at its popular Ascot Green development in Eagle Farm.

The development application comes just days after developer Mirvac announced the off-the-plan sellout of its second stage at Ascot Green, Tulloch House.

With a surge of demand, the publicly-listed group is anticipating the as yet unnamed third stage to come on the market in late 2021 or early 2022, pending approval from Brisbane City Council.

Crafted by Mirvac Design, the new building will feature 111 apartments from level two to level 13, including Ascot Green’s first four-bedroom apartments, along with four integrated premium terraces, with direct access to green open space fronting the racecourse. There will also be a private rooftop sanctuary

Described as a re-imagining of the classic Queenslander and an ode to its Ascot surrounds, the building’s apartments and terraces will boast light-filled spaces, which can be opened and closed to enjoy sunshine and breezes, and lush greenery.

The jewel in the crown is the stunning rooftop enclave, featuring a private dining room with expansive city views, along with intimate lounge areas and extensive subtropical landscaping. It also features a gym and resort-style pool on the ground floor overlooking the racecourse.

An artist's impression of the three stages of the Ascot Green Community.

Mirvac head of residential Stuart Penklis said they were already taking registrations of interest, including from purchasers who missed out on securing their place in Tulloch House.

“The demand for apartments in Brisbane is extremely high, particularly at the top end,” said Mr Penklis.

“We’re seeing this being driven by a number of factors, including local owner-occupiers capitalising on the strong growth of their family home to secure a generous apartment, upgraders expanding their living space and location, and continued high interstate migration.

“About 60 per cent of buyers in our first two buildings — Ascot House and Tulloch House — came from adjoining blue-chip suburbs like Ascot, Hamilton and Clayfield, and we believe this new stage will follow in those footsteps.

“We are also seeing intergenerational buyers, where multiple purchasers from one family are seeking individual apartments in the community, also coming through.”

View from the rooftop at Ascot Green.

Mr Penklis said the planned building would be located alongside Tulloch House as the third in the overall Ascot Green masterplan.

Brisbane Racing Club’s $1.2bn masterplan redevelopment of Eagle Farm, includes luxury apartments, commercial offices, dining, services and a range of entertainment.

The sold-out Tulloch House features 84 one, two and three-bedroom apartments and luxury penthouses, which achieved from $450,000 to more than $2m. The apartments are due to be completed in late 2021.

The first stage, Ascot House, sold-out all 90 apartments in 2020 and is completed.