Lend Lease Group’s (ASX:LLC) latest off-the-plan apartments launch in Brisbane has set a local selling record.
The property developer’s The Yards on Brisbane Showgrounds' newly-announced King Street sold 160 apartments in four hours over the weekend.
Lend Lease advises sales were launched concurrently in Brisbane and Sydney and 87 per cent of buyers came from onshore.
Prices ranged between $375,000 for a one bedroom apartment to $702,500 for two bedroom, two bathroom apartments.
As a result of the weekend's success Lend Lease plans to bring forward the second release of the project – South Yard – by three months.
The Yards includes 401 residences and 11 terraces and is expected to start construction mid-2015.
Lend Lease Group reported a net profit to $823 million in the full 2014 financial year.
