Ascot Green is a series of luxury residential buildings located in the heart of the Brisbane Racing Club, between Eagle Farm and Doomben Racecourse. Expected to comprise of eight residential towers, with over 1,100 apartments, Ascot Green has been deemed the financial jewel in the crown of BRC’s Master Plan.
Completed in June 2018, Ascot House is the first tower of the luxury apartment buildings, containing 90 apartments over 9 levels. With panoramic trackside views, custom designed spacious residences, stylish interiors, an abundance of amenities and a rooftop terrace, the primly located Ascot House has set the exceptional standard for the Ascot Green development.
Construction on the second building, Tulloch House, commenced in April 2020 and is expected to be completed in late 2021. Tulloch House will comprise of 84 apartments over 8 levels with a mix of 1, 2 and 3 bedroom apartments.
As with all of the major opportunities in the Master Plan, the development parameters for this key site were established, including all the components that were of importance to the Club, and then the opportunity was taken to the market to seek Expressions of Interest in 2015.
As expected, a significant number of responses were received and the subsequent shortlist included some of the top Australian development companies. After an intense analysis and negotiation, Mirvac was selected as the development partner for the project. Mirvac brought a very high level of residential development expertise to the table accompanied by a strong reputation in the industry.
The Master Plan strategy for the BRC has always been to retain ownership of the land, however to extract full value from a residential project it was necessary to be able to sell freehold lots (strata titled apartments). The BRC retained the Management Rights for the completed apartments which not only provides a future cash flow but also helps retain some level of control over the aesthetics and operations of the complex.
For more information, please visit the Ascot Green website here.