Silk Lane is set to enjoy all the perks of the 2032 Olympic epicentre

Market Insights
2 years ago
3 minutes

Rising high above one of Brisbane’s most iconic - and coveted - locales, Silk Lane soars to new heights of sophisticated urban living. Ideally perched in Woolloongabba and overlooking the Gabba, this development offers its residents an exclusive, once in a lifetime, birds-eye view of the 2032 Olympic Games.

Architecturally designed by nettletontribe, Silk Lane offers two distinguished residential towers featuring a collection of one, two and three-bedroom private residences thoughtfully presented as urban sanctuaries. The enviable address at Trafalgar street means Silk Lane residents are in a prime position to watch the 2032 Olympic Games from their homes - including the opening and closing ceremonies as well as other crowd favourites throughout the year such as cricket, AFL and concerts. 


The future home of the 2032 Olympic Games


Over the next decade, in preparation for the 2032 Olympic Games, Brisbane and Woolloongabba in particular will witness an incredible transformation of urban infrastructure. The suburb will receive a new $5.4 billion Cross River Rail station, a $944 million Brisbane Metro upgrade, a $3 billion Queen’s Wharf and a $1 billion rebuild of the Gabba.

“The changes that we’re going to see throughout this precinct will be a total transformation, something wonderful for all residents to enjoy,” says Lachlan Furnell, CEO of the Queensland Cricketers’ Club.

This landmark sporting and cultural hub will be the epicentre of Brisbane’s rich history with Silk Lane residents enjoying a grandstand seat to it all. Adam Rainbird, development manager of Sarazin explains, “That’s why Silk Lane is such a unique offering. It really is a once in a lifetime opportunity to be a part of history. It has the wow factor - where else in the world do you have the ability to overlook a green, historic sporting stadium?” 


The numbers game 


As evidenced by the Sydney property market’s performance following the 2000 Olympic Games, Woolloongabba is predicted to demonstrate similar growth surges across the local property market and the wider Queensland economy.

Following the announcement of Brisbane as the upcoming Olympics host city, the market has already started seeing strong growth. Data from CoreLogic reports that prices are already up by 13.2% over the last year, with Brisbane’s median dwelling price sitting at $586,142 as of June. 

Urbis’ market outlook for Woolloongabba shows that one-bedroom lodgements have increased 26.8% per annum in the five years to March 2021, while two-bedroom lodgements have increased 25.8% per annum in the same period. 

New and near-new apartments are significantly outperforming established builds. On-the-market rental data shows new and near-near one-bedroom apartments within the catchment reach a median weekly rent of $420 - a significant 16.6% more than established apartments - clearly demonstrating the scope in investment opportunity at Silk Lane. 


An opportune moment for a historic apartment


The 2032 Olympic Games is expected to have numerous flow-on effects within the Woolloongabba area including a significantly increased profile, accelerated infrastructure growth and greater residential demand - making now the ideal time to secure a Silk Lane apartment and make the most of this once in a lifetime opportunity. For more information, click here.