Investors snap up Ekka apartments

The Yards is the second residential complex to be built as part of the RNA showgrounds re-development.

The first stage of 208 one and two bedroom units – a tower to be known as "North Yard" - went on sale last Saturday in Brisbane and Sydney.

Prices ranged between $375,000 for a one bedroom apartment to $702,500 for a two bed, two bath, and project director Andrew Hay said they were exceptionally pleased with the take-up.

"As we understand it we may have set a record for off-the-plan sales in Brisbane," he said.

"It shows there's a depth in the market for well-considered product that offers value for money."

Mr Hay said The Yards' design and location along the newly announced shopping and dining precinct of King Street made it very attractive to buyers, the majority of which were domestic investors.

"King Street is Brisbane's newest street, and there's a real momentum building there," he said.

"What that has enabled us to do is take some confidence into the second stage, and we're looking to bring that forward by three months," he said.

Mr Hay hoped the second stage – comprising a South Yard tower with 182 apartments as well as 11 terraces – would launch before Christmas.

Construction on The Yards is expected to commence in mid-2015, around the same time Lend Lease's first apartment complex, The Green, is due to be finished.

RNA General Manager of Communications Veronica Carew said the record sales were a testament to the popularity of the Brisbane Showgrounds transformation.

"One of the key aims behind the showground's redevelopment is to open the 22 hectare site up all year round," she said.

"With construction starting on the new international hotel and the King Street retail and food precinct, apartment buyers can visualise how the showgrounds is set to become a world class destination precinct for people to live, work and play," she said.