Brisbane's city fringe suburb Coorparoo evolves into trendy urban destination of choice

BRISBANE, Australia - July 16, 2018 - PRLog -- Coorparoo has emerged as one of Brisbane's most highly desirable suburbs, with demand for property pushing up prices by 5% across inner city areas in the past 12 months due to the capital's population growth.

Market analyst Paul Broad found Coorparoo, along with other suburbs within 5km of the CBD, had a population growth two percent higher than other parts of Brisbane.

The report also found that Coorparoo had a household profile consistent with trendy, inner-city areas that rate high in areas of convenience, connectivity and green spaces.

Cafés, bars, restaurants and cinemas are creating an urban chic vibe in Coorparoo, and new development Maasra Apartments is set to further enhance the area with boutique retail and dining on the ground floor, commercial office space on level one and 107 residential apartments across eight floors – many with views of the city.

Maasra Apartments Marketing Manager and TOTAL Property Group Managing Director Adrian Parsons said there was a growing need for owner-occupier targeted mixed-use apartment buildings in major infrastructure hubs like Coorparoo that were within a few kilometres of the city.

"Brisbane's population is growing at a much faster rate than other capital cities, by around 18,000 people annually, with about 300 new residents settling in Coorparoo each year," he said.

"This has translated into an annual growth of 5% in median apartment prices across inner Brisbane over the past year, positioning Coorparoo as a sought-after suburb in Brisbane's inner south-east.

"While there is growing demand from residents who live in and around Coorparoo who are seeking to downsize into spacious home-sized apartments, there is also plenty of interest in the area frominterstate migrants, which is the highest Queensland has seen in more than a decade.

"Location and affordability is a major drawcard for local and interstate purchasers, which explains why online searches for property in the city-fringe suburb of Coorparoo is almost double the Queensland average.

"Coorparoo is in the midst of a renewal and is becoming increasingly popular for its village atmosphere, with new cafés, bars and restaurants springing up as the suburb evolves into a foodie hot spot.

"Many home buyers choose to live there for its close proximity to the city centre, good schools, health services and sporting clubs, public transport and connectivity to main roads.

"Maasra is perfectly positioned within walking distance of all the activity, including three supermarkets and a cinema complex, which makes it highly desirable for residents."

Maasra Apartments, being developed by Karam Group, offers two, three and four-bedroom apartments in a variety of floor plans, with expansive balconies and timeless design features to offer contemporary living, priced from $560,000.

Maasra Apartments Development Manager Grant Thurlow said the building had been designed with the owner-occupier in mind to offer residents an unparalleled lifestyle with high quality, architecturally designed apartments right in the heart of Coorparoo.

"Our design team has incorporated plenty of storage and substantial car parking to suit larger households, with two car parks available for all two and three-bedroom apartments and three car parks for all four-bedroom apartments," he said.

"Karam Group is conscious of adding more green space and will contribute 470sqm of the Maasra Apartments' development site to provide additional parkland with a pedestrian and cycle link to the rejuvenated Coorparoo Creek Park from Old Cleveland Rd creating a village feel.

"At just 4km from Brisbane's CBD, with excellent public transport on its doorstep and easy connection to main roads, Maasra Apartments is centrally located for a lifestyle of greater convenience."

Maasra Apartments is a $95 million luxury mixed-use residential build centrally located in the city-fringe hot-spot suburb of Coorparoo, on the site bound by Old Cleveland Road, Holdsworth Street and St Leonards Street, with construction expected to begin in September.

The building features a podium recreational space with multiple entertainment areas, including a 25-metre pool with timber decking and sunbeds, a barbecue area, a gymnasium, boutique retail on the ground floor and commercial office space on level one.

The building features a podium recreational space with multiple entertainment areas, including a 25-metre pool with timber decking, sunbeds, beautifully landscaped surrounds, a residents' lounge, a gymnasium, boutique retail on the ground floor and commercial office space on level one.

Maasra's two, three and four-bedroom apartments are available in a variety of floor plans designed to offer contemporary living and are priced from $560,000.

For sales information go to https://maasraapartments.com.au/, phone TOTAL Property Group on 1300 393 855 or visit Maasra Apartments' sales and display centre, open 10am-3pm seven days a week, on the corner of Holdsworth Street and St Leonards Street, Coorparoo.