Anyone that knows Warren Swanston of Visie Properties knows that he is a man of passion and lives life to the fullest. It then should have come as no surprise when the interesting and boutique project Obsidian was created to stand in direct contrast to much of the “same same but different” projects which dominated the investment cycle from 2014-2018 potentially changing the long term character of Teneriffe. NPR Co are looking forward to seeing what the next creation is from Visie Properties, the benchmark has been set.

When was the site acquired?

21 December 2015

How long did it take to get approval and what were the challenges?

The approval took 10 months, Council loved the design and that it was outside of the box. One of our neighbours however did not like the thought of a development next door, (he lived in a 5-story development next door), and he appealed the decision. We were tied up in Court mediation for an extremely long time (18 months). Not everyone likes change. The next challenge was that any changes to the DA moving forward meant going back to court. One buyer wanted to buy 2 apartments and join them together. We decided to proceed with this sale, and it cost us significant time (8 months) getting a simple change to the plans approved. This highlights in some respects how broken the system is when small changes can create significant delays which ultimately drive up costs.

When was the first sod turned?

15/2/2019

How big will the project be?

13 apartments which was timed nicely into the boutique owner occupier space. Visie Properties had identified that the market demand for investor product was softening, yet the apartment market was still in good demand if the product was right.

What makes your project special/unique?

The building has an elliptical cross section taking its inspiration from the cross section of a sub marine which ties back to the history of Teneriffe. During the 1940s the local wharves played a vital role in the war efforts acting as a maintenance hub for the US Navy housing up to 80 submarines. Obsidian has been designed as an iconic architectural statement, where build meets art. Warren also stated that he “just wanted to do something unique.” In doing so, this project now stands as an important local tribute to the rich history of the suburb.

What is the cheapest apartment that has been sold and when?

$1.2 million sold as a presale in September 2017

What is the most expensive apartment/townhouse/block of land/house sold and when?

The Penthouse sold for $2.5 million in October 2017

How has this project been influenced by the community?

The community has generally been very supportive of the project, as they understand it adds value and is complimentary to the streetscape and suburb as a whole. Just one NIMBY, that made life extremely difficult for Visie Properties moreso in terms of delaying the progress of the project. Unfortunately this is an industry wide problem.

How has this project influenced community?

I would like to think it will influence the industry to produce better buildings. Perhaps Council can play a part and offer incentives or concessions where developers are creating something special that influences Brisbane in a positive way.

Has your project won any awards?

We have submitted for the UDIA and Master Builder awards

Obsidian, paying tribute to the rich history of Teneriffe (Visie Properties)

Be In The Know