Aria Property Group has sold more than $500 million in apartments at its South Brisbane development before the official launch, defying a broader market slowdown. Brisbane home values fell 1.5% in September, while estimated sales across Australia’s capital cities were down 19.1% year-over-year, according to Cotality. The sales, completed without public advertising or a formal launch, focused on Aria’s existing customer base, with 165 three- and four-bedroom units leading demand. The 231 apartments sold comprised 100 three-bedroom residences, 65 four-bedroom residences, and 66 two-bedroom residences, with the largest residences proving the strongest performers in the sales campaign.
Demand for larger apartments reflects a shift in buyer behavior. Instead of downsizing when moving from houses to apartments, buyers are prioritizing space, according to Brent Liddell, Aria’s residential manager. He noted that buyers are “trading sideways” rather than reducing their living area. The 231-apartment tower, designed by Bates Smart, includes seven levels of amenities, such as a wellness club, rooftop bar, and sky lounge, spanning more than 4,600 square meters. Prices start at $1.99 million for two-bedroom units, rising to $2.72 million for three-bedroom apartments and $4.01 million for four-bedroom residences, though costs are expected to climb when the remaining stock is released.
Sanctuary Residences is the first phase of Aria’s Sanctuary precinct, a 164–190 Melbourne Street development on one of South Brisbane’s few remaining major undeveloped sites. The broader project will feature a public park, five laneways, 12 retail and dining tenancies, and restored heritage buildings, including the former Bonds sweet factory and the old Malouf’s fruit shop. The environment design incorporates 240,000 red bricks, nodding to the area’s brickmaking history, while the public area was designed by Delete Richards + Spence and landscaping by Subtropic Design. The precinct will also include a wellness and bathhouse club, rooftop club, and sky bar as part of its seven levels of resident amenities.
Early sales success stems from Aria’s long-term planning. The developer spent eight years consolidating the site across multiple titles and began civil works in April 2024, saving costs by starting ahead of schedule. Completion is targeted for mid-to-late 2029, aligning with Brisbane’s 2032 Olympic and Paralympic Games. Aria has delivered more than 3,000 residences across 33 projects over 23 years in Brisbane, with resales from 2023 averaging 91.5% above launch prices. The project’s equity partner is Metrics Credit Partners, supporting the development’s delivery.
The remaining apartments will launch on October 19, with prices set to rise as demand remains strong despite broader market challenges. The development’s timing and amenities position it as a key addition to South Brisbane’s evolving urban environment.