Press Releases

Saturday, 17th September 2011

Enjoy Life on the Edge - Courier Mail Home

Pradella's $260 million Waters Edge development in West End is complete, providing 234 luxury apartments across two eight-storey buildings- Reach and Drift.

The mixture of one, two and three bedroom apartments within the complex are priced from $499,000.

However, Waters Edge is only the first stage of a planned $570 million redevelopment of the three-hectare riverfront site, which once housed a cardboard factory.

The site will ultimately provide a mixture of residential living, retail and commercial premises.

Development manager Brett Lentz said buyer demand had ensured Waters Edge has weathered tough economic times.

“From the onset, strong buyer interest had driven this project, with Waters Edge one of only a handful of Brisbane developments to have started construction in late 2009 as the Global Financial Crisis was hitting,” Mr Lentz said.

“For the past 20 months, Waters Edge has been under construction and during this time it has boosted the local economy through the creation of around 1500 construction and affiliated jobs.”

Mr Lentz said while buyer interest had remained strong, there were still opportunities for investors or owner occupiers to secure an apartment.

“Waters Edge has attracted a mixture of purchasers, from young urban professionals wanting to be close to the CBD to retired couple keen to downsize and enjoy the best of inner city living,” he said.

Resident Michael Wheeler was attracted to Waters Edge due to its high quality design, superb facilities, and ongoing growth prospects of West End.

“I wanted to secure an apartment located close to work in the city that offered all the lifestyle benefits, but also had future growth potential,” Mr Wheeler said.

“Waters Edge is a very attractive proposition, with the building finishes immaculate and the landscaped grounds and gym adding further to its overall appeal.” Mr Lentz said the project was Pradella’s sixth in the West End and South Brisbane over the past decade.