Coorparoo's $232 million transformation unveiled

The $232 million Coorparoo Square project has officially launched to a market eager to embrace the transformational mixed-use development in the heart of Coorparoo.With apartments priced from $339,000, Coorparoo Square has attracted hundreds of pre-launch inquiries from prospective buyers.Jointly developed by Australand and Honeycombes Property Group, Coorparoo Square will comprise more than 360 apartments and approximately 6,000sqm of retail space, including a 10-screen Dendy Cinemas complex.Coorparoo Square will be constructed on the iconic 1.2 hectare Myer site at the corner of Old Cleveland and Cavendish roads where the demolition of the department store building started earlier this month.National building company Probuild is constructing the project, stage one of which will be complete by the first quarter of 2017, with stage two slated for completion later that year.Honeycombes Property Group managing director Peter Honeycombe said there had been a significant number of inquiries from the local community so far.“The local market is well aware of the iconic and high-profile nature of the site,” he said.“They have been looking forward to the mix of residential, retail and entertainment that we will deliver and the extent of the response so far reflects the pent-up demand for new apartments in this area.“From a community perspective, Coorparoo Square will breathe fresh air into the suburb and become a focal point for locals.”Australand Queensland general manager of residential Cameron Leggatt said a large amount of inquiry for Coorparoo Square was coming from owner occupier buyers.“Coorparoo is a great lifestyle area full of large, character homes and increasingly there are owner occupiers who want a residence that combines this aspect with low maintenance and convenience,” he said.“We’re expecting this interest to include Coorparoo residents who are considering downsizing their residence without giving up the benefits of living in Coorparoo.”The Coorparoo Square sales office and display on Holdsworth Street has officially opened its doors to give prospective buyers an insight to the project.Coorparoo Square will include a mix of one, two and three-bedroom apartments as well as a limited number of luxury penthouses.In addition to its residential and retail elements, the three-building project will include more than 640 car spaces, two large swimming pools, a tennis court, large recreation areas and green space.Coorparoo Square is a transport-oriented development and will act as a significant transport hub for passengers using existing bus routes to and from Coorparoo.To be developed over two stages, the project will include the delivery of key public transport infrastructure, aligning with future plans for the underground Eastern Busway as well as providing pedestrian connection to the current bus service upgrades in the interim.Current public transport services connect commuters with Brisbane CBD in less than 15 minutes and The University of Queensland’s St Lucia campus in less than 12 minutes.Coorparoo Square’s sales display suite is open daily from 10am to 5pm.