Belgian Gardens development to pump $10m into Townsville
A new Belgian Gardens apartment complex Garden Hills, will inject $10 million into the Townsville economy and is expected to be a catalyst for further investment.
The development in Bundock St will feature 20 apartments spread over two levels, with the lower level to serve as a health and lifestyle-centred commercial space.
Set to be complete in about a year, the development is the brainchild of local medical centre owner Ash Agaibey.
“As a local resident and business owner, I’m committed to investing here in Townsville,” Agaibey says.
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“There’s no doubt Townsville has been through some tough economic times but there had been whispers of recovery prior to the February flood event and there’s been some positive industrial news since, so I’m hoping this development shouts confidence.
“This will be my largest investment in the city to date, and the timing is no coincidence, I believe it should act as a catalyst for more investment activity to follow.”
Townsville Mayor Jenny Hill says she is pleased to see confident investment in the city, particularly one benefiting local businesses.
“Townsville needs investments like this to drive our economy upwards,” Cr Hill says.
“Just bringing this project to the market has represented a significant investment of at least a quarter of a million dollars on top of the land value of $1.25 million and demonstrates great confidence in its success.
“The project has already had a positive impact on local businesses with Agaibey ensuring 100% local involvement including project management, architects, engineers and consultants, with a local builder to also be announced soon.”
The complex will include 16 two-bedroom apartments with four upper-level executive apartments featuring large private terraces.
There will also be one-bedroom and one-bedroom plus study floorplan options, with prices starting at $314,000.
“Through strategic purchasing and clever design and planning, we’re able to pass on savings to our buyers and as a result we’re offering apartments that will boast great lifestyle advantages and high-level finishing in and ideal location, all at a very attractive price,” Agaibey says.
“It’s for that reason we’re extremely confident they’ll be in high demand.”
This article from the Townsville Bulletin originally appeared as “New Belgian Gardens development to inject $10 million in Townsville economy”.