Spyre Group Secures Landmark Brisbane Development Site

Brisbane based property developer Spyre Group is pleased to announce contract exchange on its latest project in Highgate Hill. The site is currently approved for 39 apartments, with the potential for an additional 12 apartments looking favourable through a Permissible Change Development Application amendment that will be lodged with Council.

The key to acquiring the Highgate Hill site was the great working relationship that was established with the vendors, allowing mutually favourable settlement terms to be negotiated and underlining the win-win approach that has underpinned Spyre Groups successful development track record over the past 5 years.

“Highgate Hill is shaping up to be a fantastic project both from a developer perspective and for end purchasers of the apartments. The location has all the elements that appeal to both owner occupier and investor being within 5km of the CBD and a stones throw from the popular cosmopolitan cafe precinct of West End.” says Group Managing Director Daniel Laruccia. “We are looking forward to bringing this project to market and early feedback from local agents indicates there should be strong level of buyer interest for this type product in this location.

“Securing Highgate Hill caps off a successful 2013 for Spyre Group as it continues to build its brand in the Brisbane market. With its roots based in residential land subdivision, the Group has transitioned seamlessly into urban infill development, targeting popular “city fringe” suburbs close to desirable amenities and transport links. Spyre has recently commenced construction on an 11 luxury townhouses project in the high end suburb of Ascot, with sales results to date exceeding feasibility study gross realisation figures.

“Our vision for Spyre Group is to be a new generation of developer with an approach based on integrity and transparency and a strong focus on risk mitigation” says Laruccia.

“The majority of investors that have joined us over the past 5 years have reinvested their funds over multiple projects. They seem to appreciate being able to pick up the phone at any time for a chat and also that their investment returns are preferential, meaning they get paid before we do as Directors.”

With its current pipeline of projects, Spyre Group is well placed to capitalise on the confidence returning to the market and is currently inviting new investors to participate in what is set to be an exciting phase in the company’s growth.

To download the Highgate Hill offer document click here.