Featuring 25 architecturally designed apartments, Place Advisory director Lachlan Walker said the development had a mix of one, two and three-bedroom units.

Mr Walker said local buyers had shown a keen interest in the new project.

“We have lots of former Ascot locals inquire about SILK,” Mr Walker said.

“We’ve had friends tell their friends who used to live in the area. We are seeing an older age group of wealthy people wanting to live here.”

Perfectly positioned at the northern end of Racecourse Road, SILK is 10 minutes from Fortitude Valley’s trendy night-life district and less than 15 minutes from the city centre.

The indoor and outdoor spaces of the apartments are linked by expansive full-height glass.

The kitchens have reconstituted stone bench tops and stainless steel Miele appliances.

Designed by Loucas Zahos, and developed by GuavaLime, the architecture of the building features matte black metal work, and glass and stone are combined to create facades with great street presence.

Existing trees, a Jacaranda at the corner and a Poinciana on Racecourse Road, will be retained.

Mr Walker said the ground floor would feature retail shops.