Brisbane is taking the next step in its emergence as a 'new world city', with developer Pradella starting construction on the first stage of a $125 million dual tower community centred around the city's iconic SkyNeedle.
SkyNeedle, an 88 metre pillar, was a key feature of Brisbane's World Expo in 1988, and today remains a prominent marker on the city skyline.
Pradella director Kim Pradella today joined Brisbane Lord Mayor Graham Quirk to officially launch the start of construction on the first tower, comprising 110 of the total 237 apartments in the project, which will incorporate a refurbished SkyNeedle as part of its design.
Pradella has appointed RCC Builders to build SkyNeedle Apartments, which will be delivered in two stages, complete with a cafe at the base of the second tower and a tropical garden oasis with a pool and barbeque terrace for the exclusive use of residents.
More than 70 per cent of apartments in the first stage have already sold for a total of $38 million, with remaining one bedroom apartments priced from $428,000 and two bedroom abodes available from $544,000.
Mr Pradella says SkyNeedle will add to the developer's significant portfolio of projects in West End and South Brisbane, and continue its transformation of the city's 'legacy' landmarks.
Pradella's Light+Co. Apartments project, which was completed in late 2016 , was built to include elements of Brisbane's old gas and light station, which was originally established in 1885.
"SkyNeedle will be a transformative project for Brisbane. We are taking an internationally recognised symbol of Brisbane's foray onto the world stage with Expo and making it the hero of a project that will be a marker of Brisbane's next 'coming of age'," he said.
"Brisbane is evolving into a new world city and it's important that as we usher in this next chapter of growth, we recognise the foundations this fantastic city was built on by preserving monuments of the past, like the SkyNeedle and the old gas and light station.
"In doing so, Pradella is creating world-class communities which embrace the city's heritage while setting a bold benchmark for future-ready design.
"SkyNeedle has already attracted strong interest from both owner occupiers and investors not only from Brisbane, but also nationally and internationally, who are ready to be a part of what will undoubtedly be one of Australia's most unique and identifiable addresses.
"Next year marks the 30 year milestone since SkyNeedle made its debut at Expo 88, which is fitting as we expect the first 11 level tower to reach completion by late 2018/ early 2019.
"Pradella has great confidence in Brisbane's capacity for growth and we will continue to invest in the city over the coming years."
Lord Mayor Graham Quirk said the SkyNeedle had been a much-loved icon of Brisbane for nearly 30 years and it was exciting to see it returning to its true home in South Brisbane to be restored to its former glory as part of a high-quality residential project.
“SkyNeedle will once again open to the public where it will retain its prominence on our city’s skyline for years to come and be enjoyed by residents,” Cr Quirk said.
SkyNeedle is being built on a 3,600sqm site at 18 Edmondstone St, South Brisbane.
For more information, please visit skyneedle.com.au