Red Dog will develop and build the project between Brimblecombe and Dyer Sts, Forest Hill, alongside The Ark Property Group, with owner and founder James Elliott saying the one and two-bedroom apartments would appeal to investors. “With its proximity to Brisbane and Toowoomba and the Warrego Highway conveniently located 6km away, our Forest Hill development will provide an attractive opportunity to investors,” Mr Elliott said.
“The development is close to The University of Queensland’s Agricultural and Vet School in Gatton, making it great value investor stock perfectly suited for accommodating students. “We are really excited about this development because it has it all for perspective investors. “We’ve designed something that residents will want to live in and that is really pleasing for us.”
A Red Dog spokesperson said the development was innovative in design, with the apartments combining the best features of pre-fabricated and modular techniques to create a light-weight, high-standard construction built on-site and assembled much quicker than regular builds. When complete, the development will consist of 30 apartments, of which 10 are on offer in the stage one release. One-bedroom apartments are 40sqm and are priced at $114,000 while two-bedroom apartments are sized at 64sqm with prices starting from $164,000.
Sales agent Craig Toohill from CPT Properties, said the homes would offer a high return for low initial purchase cost. “These apartments are ideal for those wanting to make their first move into the investment property market, due to their affordable prices and high returns, or for those wanting to expand their existing portfolio,” Mr Toohill said.
“Given the close proximity to the educational facilities, the prospect of steady, ongoing tenants is adding to the appeal.”