Spyre Secures $8.2m Unconditional Apartment Sale at Completed Arc Residences in Toowong
A buyer has dropped $8.2 million on a luxury apartment in Brisbane, waiving the cooling-off period to make the deal immediately unconditional. The sale was in developer Spyre’s recently completed Arc Residences in Toowong, and adds to a 100 per cent settlement rate across the riverfront development.
Spyre director Andrew Malouf says buyers will still move decisively when the right product becomes available. “There is certainly caution in the broader market, but what we are seeing at Arc is that buyers will still move decisively when the right product becomes available,” Spyre director Andrew Malouf said. “Residence 601 going unconditional at $8.2 million over the weekend is a strong example of that. “At this end of the market, buyers are incredibly discerning, and what cuts through is architecture, design and a site that simply can’t be recreated. “These buyers know exactly what they are looking for and they aren’t willing to compromise.”
The sale was facilitated by Joel Imeson of Griffith & Co in collaboration with Whitefox Projects. It follows a series of strong results in the 24-residence development on Coronation Drive. Griffith & Co director Joel Imeson, who had worked with the buyers for some time, said Arc met every requirement of a highly specific brief. “They weren’t prepared to compromise on scale, privacy, river outlook or the quality of the architecture, and very few properties in Brisbane meet all of those at once,” Mr Imeson said. “When they walked through Arc, it ticked every box. “These clients aren’t driven by market timing. “They’re waiting for the right residence, and when something of this calibre comes along, they know it won’t be repeated. “That’s what gave them the confidence to secure the residence on clean terms.”
Arc was already 70 per cent sold before demolition started in early 2024, with buyers committing to the design vision long before the building took shape. Mr Malouf said Arc’s performance reflected the increasing maturity of Brisbane’s prestige apartment market. “What has happened at ARC is bigger than one sale,” Mr Malouf said. “Buyers have embraced a level of design and architectural ambition that simply hadn’t existed in Toowong previously,” he said.
He said Brisbane’s prestige apartment buyer had evolved considerably. “They are looking for the scale, privacy and amenity they would expect from a significant home, without compromising on design or location,” he said. “When that combination exists and the product genuinely can’t be replicated, buyers have the confidence to transact, because they know what they are buying will stand the test of time.”
Arc, which was designed by Bureau Proberts and built by Graya, has reached completion, and gives prospective buyers the opportunity to tour the residences first-hand. The remaining residences are being marketed by Phillip Rand and Hunter Parks of Whitefox.
