CODE, Bowen Hills is just minutes from the CBD and Fortitude Valley’s thriving restaurant and entertainment precinct, yet enjoys the quiet, hilltop aspect of Jeays Street with spectacular city and mountain views.

* Exclusive Skydeck roof garden with BBQ and semi-private areas.
* Panoramic views towards the Brisbane CBD
* Massive courtyard with lap pool, gym and theatre room.
* Two minutes to train and new transit development.
* Ideally positioned within the new Bowen Hills urban renewal area.
* 2.5km to Brisbane CBD.

CODE was designed by Cottee Parker, internationally acclaimed architects with a long history of creating highly liveable residential properties with quality aesthetics and functional lifestyle features.

CODE Bowen Hills’ architecturally designed faade and glazing, combined with the deep balconies featured on most apartments and naturally ventilated corridors on each floor ingeniously maximise natural light, views and sun protection.

Residents will exclusively enjoy alfresco entertaining in Brisbane’s only Skydeck lounge areas; cleverly designed, private areas within the communal leisure areas.

The 132 open plan apartments spread over 10 levels feature 1, 2 or 3 bedrooms and offer purchasers several different configurations to suit personal tastes. Floor to ceiling glazing, natural light in bedrooms and efficient design maximise the actual and sense of space. The positioning of all air conditioning plant on the rooftop rather than on individual balconies gives residents more space and removes noise.

Availability:

1 Bed…4 prices start at $361,000.
2 bed…15 prices start at $534,000.
3 bed…6. prices start at $687,000.

LOCATION.

Just 2.5km from the Brisbane CBD, CODE’s location in Jeays Street, Bowen Hills has all the convenience of inner city living, plus perfect positioning within Brisbane’s most exciting urban renewal development.

A short stroll from CODE are the Emporium and the James Street precincts, offering a vast array of restaurants, cafes, bars, fresh food markets, retail stores, supermarkets and boutiques.

Bowen Hills’ landmarks include the RNA Showgrounds, the old Queensland Museum, Perry Park, Twelfth Night Theatre, The Tivoli, Bowen Hills Railway Station, and fringing the suburb is Victoria Park Golf Course, Centenary and Fortitude Valley aquatic centres, and Queensland’s largest hospital, the Royal Brisbane and Women’s Hospital.

With so many facilities within walking distance, and an abundance of major road networks and public transport options, Bowen Hills’ popularity continues to grow with both residents and investors.

INVEST.
In the five years to December 2008, annual median price growth of apartments within Bowen Hills has averaged a solid 6.8%. More recently, between 2006 and 2007 the annual median price growth rate was 7.9%, with 2007 to 2008 recording an astonishing 9.9% average growth in median apartment price. As at May 2009 the median price of an apartment in Bowen Hills is $415,000.

New development within the area has been limited due to the Urban Land Development Authority’s focus on Bowen Hills’ neighbouring suburbs of Fortitude Valley, Newstead/Teneriffe and New Farm. With the shift in the urban renewal program now towards Bowen Hills, a strong growth in demand is forecast for new properties within the area.

Since the March 2005 quarter, average annual growth in median weekly rents across Bowen Hills has been:

- 1 bedroom – 8.9%

- 2 bedroom – 8.9%

- 3 bedroom – 7.6%

As the rental market begins to feel the effects of inner Brisbane’s rising housing affordability problems, one-bedroom apartments are forecast to lead median rental growth over the short to medium term. Bowen Hills’ strong rental growth has resulted in gross rental yields sitting at 5.0% as of November 2008. It is important to note that this yield is led by much older, established stock and should not be used as a benchmark for new apartment product. Across inner Brisbane the current gross rental yield is 6.4% which is a much better reflection of market conditions.

A vacancy rate of around 3% is generally accepted as an indication of a balanced market. The current vacancy rate across inner Brisbane is at 1.3%, trending downwards. This is the lowest vacancy rate in the country and indicates a very tight rental market which is consistent with the measure of dwelling deficiencies in Bowen Hills.

The above information is indicative only and does not constitute formal advice. Purchasers should seek their own information and advice.

Source: Resolution Research Strategists