Brick Lane on Florence

– old meets new in Teneriffe

Dapples of light filter through the patterned metal façade that veils Brick Lane. Inspired

by the old woolstores of Teneriffe, the project’s distinct design gives an ode to the area’s

history while still allowing plenty of natural light into the open-plan living spaces.

At Brick Lane on Florence convenience does

not mean compromise of lifestyle. Within

minutes you can stroll to the local trendy cafés

and the Brisbane Riverwalk, or drive to the

many opportunities of the city. The developer

Joe Adsett, who is a Teneriffe local himself,

says these apartments are the perfect buy for

the owner occupier who wants the best of

both worlds. Brick Lane Teneriffe construction taken by

Propertymash.com

Its key attributes are its focus on ‘corner’ apartments, which refers to the focus on

maximising frontage of each apartment to natural light, and the external design which

seeks to blend modern with old.

THE PROJECT

Brick Lane will offer two (2) and three (3)-bedroom apartments spread across six levels

which includes an underground carpark. The development comprises 16 apartments

and two penthouses, one with a rooftop terrace.

Brick Lane’s metallic artwork screens carry forward the theme of nearby Woolstores

and are a distinctive design element of this development. This stencilled brick-like

motif adds aesthetic appeal to the square building and adds a nice contrast to the white

rendered finish and timber panelling.

Brick Lane is positioned on a small (by development standards) 800m² block with no

gardens or facilities. yet it’s a close walk to Teneriffe Park so plenty of green space is

close by. Teneriffe is all about the coffee and dining culture though, so it is more about

locking your front door and getting a coffee or a wine than perhaps going to a park for a

picnic.

The low-rise building has external frontage of approximately nine metres and its

marketing places significant emphasis on the architects ability to maximised frontage to

light, as you get in a corner apartment – hence the name corner apartments that is used

in the marketing literature.

We have not been provided floorplans so we can not vouch as to whether this is in case

the fact.

LOCATION

Brick Lane is on Florence street, about 300m from the Brisbane River in Teneriife.

Teneriffe is one of Brisbane’s most affluent suburbs which many years ago was a

farming area and industrial hub. In recent times Teneriffe has undergone an urban

resurgence. Low-rise apartments line Vernon Terrace and the woolstores that long were

the industrial hub of the suburb are all now trendy converted apartments.

Brick Lane will reside on Florence Street. Photo taken by Propertymash.com

Teneriffe is an inner city pocket 2.5km northeast of the CBD and thus enjoys an

abundance of services and facilities. Yet, it has a village feel and relaxed character

compared to its New Farm (4005) neighbour. The suburb has experienced a true urban

renewal and with the redevelopment of historical Woolsheds into hip apartment-style

homes Woolstores aligned with urban precincts around the world, young professionals

were lured to live here.

Florence Street is home to trendy cafés and retailers. Macquarie Street is the central

street in Teneriffe and home to boutique shops, restaurants including ‘The London’.

Brisbane’s only traditional Japanese bath houses or ‘onsen’ resides here. Teneriffe has

its own annual festival in July.

When you drive through Teneriffe you get a real feel of what is happening in many cities

where older suburbs which were somewhat neglected for decades suddenly go through

a revitalisation born from their sheer proximity to the CBD.

This is particularly prevalent in bordering Newstead (4006) about 800 metres away,

which is currently undergoing an influx of construction with developments taking shape

and form in high density between Skyring Terrace and Commercial Roads. With already

stretched street car parking available this will only get worse as more people move into

the area.

Teneriffe is pressed for street car parking. Photo taken by Propertymash.com

The closest shopping hub is the Gasworks Plaza in Newstead. There you will find a

Woolworths, cafes and dining options. Shopping Centre Homemaker is close by in The

Valley. It has an ALDI, Goodlife gym, Trade Secret and retail outlets.

From Teneriffe you can walk alongside the river to the CBD including the River Walk.

New Farm Park is 2.5 km from Brick Lane which attracts more than 18,000 visitors

each week and is home to the Brisbane Powerhouse arts centre, barbecues and picnic

areas.

Teneriffe suburb shot. Photograph provided by developer.

The CityCat terminal is a five-minute walk from Brick Lane. Buses also run from here

every 10 minutes as well as from Vernon Terrace, just 200m from home. The bus will

get you into the city in around 40 minutes transferring to the 412. Limited transport

options are a down side to Teneriffe, with no train station.

A selection of schools at your fingertips benefits families. New Farm State School is the

closest primary school about one km away. It has a maximum student capacity of 364

students. Ascot State School and Brisbane Central School are the public schools for

bordering catchments. The closest private schools are All Hallows, a Catholic girls’

school and St Joseph’s College, a Catholic boys’ school, in the city.

Royal Brisbane and Women’s Hospital, in Herston (4006), and Brisbane Private

Hospital, in the city, are both about a 3km drive. Getting to Brisbane Airport takes

around15 minutes via the M7.

QUALITY/FINISHES

Floor-to-ceiling glass doors on the balcony invite in natural light and create breezeways.

Each apartment includes perforated screening which slides open to act as a climatic and

privacy filter also adding a nice design feature.

Brick Lane living areas and balcony. Photo provided by the developer.

Brick Lane contains Miele appliances, timber floors, large (90cm) cooktops,

splashbacks and quality cabinetry. A corner ensuite with freestanding tapware includes

a bath, double vanities and a feature wall.

Brick Lane Teneriffe balcony. Photo provide by developer.

Each apartment has fully-ducted reverse cycle airconditioning plus all bedrooms have

ceiling fans. In addition, there are TV and ADSL points in the living area, study and

bedrooms. The apartments are also smart-wired.

Brick Lane offers two colour schemes – light and dark. However, the Developer is

prepared to work with purchasers to customise a unit according to their personal taste,

which is a very big plus for the project. Also, there is an optional upgrade available

which includes marble benchtops and splashbacks, additional storage space and

internal blinds among extras.

INVESTMENT ANALYSIS

According to the Residex State Market Report the median value of Teneriffe

apartments is $589,000 and the median rent is $550.

The estimated rental yield is around 5.5 per cent however it is expected most buyers will

be owner occupiers.

Body corporate fees will be around $4400 per year.

In 2011, the Australian Census recorded 4699 people living in Teneriffe, and 86 per

cent of dwellings were flats units or apartments. The average age of the population is

33. The median price of houses in Teneriffe are about $1.3 million.

BUILDER/DEVELOPER PROFILE

The architect and developer Joe Adsett is a Teneriffe local who graduated from

Queensland University of Technology. He specialises in luxury residential projects

around Brisbane and on Australia’s east coast.

NEIGHBOURING PROJECTS/COMPETITION

Apartments on the left of Brick Lane may have their views blocked by 17 Skyring Tce

which is 30m in height with eight floors and comprises 163 apartments. There are

multiple developments popping up between Skyring Terrace and Commercial Road

which may change the face of the suburb itself.

An advantage of buying into a smaller development is you will not feel part of an urban

plan. On the flip side you will not gain access to a range of recreational facilities.

SALES OFFICE & ONSITE DISPLAY

Stack Projects is the sales agent for the development. A display is open by appointment.