Dibcorp's Bide apartments in Newstead sells out as construction approaches completion
Prominent Brisbane developer Dibcorp has successfully sold out its soon to be completed Newstead apartment development, Bide Newstead.
Bide Newstead has been one of the most popular projects in Brisbane since being launched a few years ago.
In an impressive feat, LPS Construction completed the build of Bide in just over 18 months during one of the most challenging times in the construction industry in Queensland.
Ideally located across from the Gasworks Precinct, Bide consists of 89 apartments and skyhomes across 15 levels, with only six or seven apartments per floor.
The final apartments to sell were the three-bedroom units which were priced from $1,495,000. The largest three-bedroom apartments were priced from $2.5 million. They have nearly 200 sqm of living space.
The project also features 650 sqm of amenities across two levels, including BBQ facilities, private cabanas, landscaped areas, and seating.
Keenan & Byrne sold the last of the apartments. Fraser Byrne said the enquiry was significant during the construction phase of the project.
Byrne says the construction status is now top of the list of questions to ask when enquiring.
"Their first question is 'is the project under construction, and if not, why?'" Byrne says.
"The second question is 'who is the development team and what have they delivered before?'".
Byrne says these are completely understandable requests in the current climate.
"Buyers have access to a vast amount of information nowadays and are often well educated in buying off the plan, so they want full confidence in the project.
"I think these are completely understandable requests and in fact encourage buyers to ask these questions in their search for the right property because if they can be answered with confidence, they should feel comfortable proceeding."
Dibcorp has been developing apartments across Brisbane since being founded in 1996 by Franco Di Bartolomeo.
The developer recently submitted plans to convert the former Spring Hill Hotel into an 18-level mixed-use tower with 126 apartments.