Paintcorp’s $20 million development in South Mackay, Gateway Apartments, is nearing completion, as construction on the top level is well underway. Designed by Cottee Parker, the five-story development is comprised of 56 apartments. The complex includes a variety of one and two bedroom units, and has proven to be a hit with local buyers - only four units remain available.
They’re likely to be snapped up quickly, though, suggested Paintcorp sales and marketing manager Sam Patterson.
“The architect has been working closely with the builder to ensure a high quality finish. As the development has taken shape, we have also been able to experience the views first hand, which are even better than expected. As a result, we have also been receiving renewed interest in these final four apartments,” Patterson said.
The available apartments are priced between $415,000 and $440,000. They are expected to have a high rental yield of around 6.3 per cent, according to Mackay, which has made them a popular choice for investors.
The apartment development is expected to be completed in spring 2014.
Posted by Craig Francis
