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Feb. 14, 2013

Luxury Twin Towers Planned for Australia’s Top Investment Suburb

By Gabriel Circiog, Associate Editor

Brisbane, Australia—A new twin tower development project is planned by Sydney-based Australian and Japanese trust fund Galileo in South Brisbane, Australia. Located at 9 Edmondstone Street, the development, dubbed as Arena, will feature two 12-story buildings, which will offer views of the Central Business District.

Designed by Brisbane-based Ellivo Architects, Arena will feature chopstick columns, which will float the dual podium towers above an urban courtyard, a luxury sub-tropical outdoor swimming pool, barbeque pavilion, fitness center and ground level plaza retail. The development will include 191 one-, two- and three-bedroom apartments as well as skyhomes. The skyhomes will feature full height windows, sliding glass doors, large terraces and balconies. All the apartments will include up to three dedicated secure parking spaces with direct lift access.

Situated along the Boundary Street retail spine, the residents will have easy access to shopping, dining, schools, universities, parks and world class cultural facilities such as the QLD State Library, QLD Art Gallery and the Brisbane Exhibition and Convention Center.

Rated as Australia’s top investment suburb, South Brisbane outclasses the others through its strong capital growth potential and high rental returns. CBRE Residential reports an increased demand, limited supply and low 0.6 percent vacancy rates make South Brisbane the tightest rental market in Brisbane with rents at a 40 percent premium over other inner city suburbs.

Established in 2003, Galileo is also the developer behind the hugely successful Metro Residences in Sydney, a major three building residential project towering over the Chatswood Transport Interchange.

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