The Urban Developer | 3rd March 2016 | Staff Writer
The $325 million Mary Lane mixed-use development in the Brisbane CBD has been launched with the opening of a display suite at 113 Margaret Street.
Designed by international architects Woods Bagot, Mary Lane will comprise a mix of one, two and three bedroom residences as well as limited penthouses, a dining precinct and the five-star Westin Hotel.
The homes are being marketed by Colliers International. Development Manager Ian Pert, of GMP Management, said the 439sqm sales suite would allow visitors to experience what the Mary Lane concept is set to become. He said the expansive sales centre allowed buyers to immerse themselves in the project. “The display suite really puts things into context for off-the-plan buyers, providing them with an opportunity to experience the ambience of the project through a combination of display fittings, a large scale model, actual finishes, video and the mock up of kitchen, living and bathroom areas, Mr Pert said.
Colliers International director residential Andrew Roubicek, who is marketing the project, said about 80 sales worth more than $60 million had already been achieved. “I would suggest this achievement makes Mary Lane the best performing project in Brisbane considering the average price of all residences exceeds $900,000,” he said.
Set to rise at 111 Mary Street, the building will comprise 184 apartments and 286 hotel rooms with separate facilities for residents and guests. Residents will have on floor storage rooms as well as exclusive use of the level 37 recreation deck with an infinity edge pool, gymnasium, BBQ and
Residences are priced from $460,000 to more than $2 million. Developer Mary 111 Pty Ltd owns significant properties within Brisbane CBD and also owns the neighbouring Four Points by Sheraton hotel at 99 Mary Street.
Mary Lane to set to begin construction in the first quarter of 2016.