- The Rivello Hamilton riverfront apartment project has sold $102M off the plan
- Three other Brisbane developments have been announced in recent months
The 21-storey building is six kilometres from Brisbane’s CBD, and these sales results are the latest “show of strength” in the local property market, according to the selling agent.
“We started receiving enquiries from the moment we secured development approval, and formally began taking registrations of interest late June, with buyers knocking on our door to know when they could officially secure their place in the project.”
Lee Butterworth, Brookfield Residential Properties’ Managing Director
“Buyers have predominately been local owner-occupiers from within a ten-kilometre radius of Portside, who are familiar with this precinct and are looking to secure their place here, or to upgrade to a new apartment. Many have purchased with us at Portside previously.
“We have also experienced strong enquiry from interstate buyers, including owner-occupiers wanting to relocate to the Sunshine State and those who see the strong investment potential Queensland offers, with almost 10% of sales to date to interstate purchasers.”
Mr Butterworth said there was still a good mix of apartments available, ranging from one-bedroom floorplans to the final two sub-penthouses.
Two-bedroom apartments in the ‘Lifestyle Collection’ are priced from $605,000, two- and three-bedroom apartments in the ‘River Collection’ from $720,000 and the final sub-penthouses in the ‘Penthouse Collection’ are priced from $2,070,000.
On completion, Rivello will feature 150 one-, two- and three-bedroom apartments, sub-penthouses and penthouses.
Brisbane apartment market
Another waterfront development was announced in February at Eagle St Pier, which had been described as “city-shaping” and “transformational”. Not all local residents were happy though, with some neighbours described as “furious” with the “over-sized” project.
In March, another block of riverside apartments had been earmarked for development, in the trendy west end of the city. Called Enclave, the development is developer Pradella‘s 16th project in the suburb, located only 10 minutes away from the CBD.
The same month, Brisbane’s Ferny Grove Central development announced joint-venture partners Honeycombes Property Group and MaxCap Group, which will be built around the local train station.
The $140 million transit-orientated construction project involves redeveloping the Ferny Grove train station commuter car park into a residential hub featuring 82 luxury apartments along with a 12,000sqm retail and commercial hub.