Developments

Mantra snatches up Bowen Hills complex

Mantra has bought the management rights to Skyline Court, an 87 unit apartment block at Bowen Hills, for $3.98 million and will brand the property Breakfree Fortitude Valley.

The sale, which will settle on February 28, was handled by Resort Brokers Australia which reported strong interest from both private and corporate buyers. RBA’s Steve Campbell said the property had only been on the market for 14 days when a deal was agreed.

Skyline Court, built in 2006,is situated in Brookes St and comprises studio, one, two and three bedroom air-conditioned apartments for both short or long terms stays. It is located in the entertainment district, close to the RNA showgrounds, Brunswick Street Mall, Chinatown, the Emporium shopping precinct, restaurants, cafes and cinemas and is 20 minutes from Brisbane International Airport.

All apartments and rooms have individual climate control air conditioning, balconies or courtyards, DVD players, Foxtel and wireless Internet access, separate lounge, dining and work areas and a fully equipped kitchen and laundry.

Occupancy is 77 per cent and the term of the agreement is 18 years and 5 months as of May, 2013.

Features of the property include a 20m lap pool, gym, BBQ and recreation area, visitor car parking, lift access to all levels including the basement and secure intercom access.

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