Sales at Brookfield Residential Properties’ Portside Wharf have skyrocketed over the past year, with more than $83 million worth of luxury apartments snapped up since last January.
In total, 130 apartments have sold at Hamilton’s sophisticated riverfront retail and residential precinct across the completed Promenade building and the two latest stages, Pinnacle and Link, which were both released off-the-plan last year.
Portside Wharf Project Director Lee Butterworth said the significant increase in sales are attributed to the construction completion of Promenade, the release of the two new buildings based on increasing demand, and a more diverse product offering and a positive turn in the market.
“Promenade Hamilton Apartments was completed in late 2012 so purchasers have taken advantage of the completed building and the fact they can move into their new Portside Wharf home without any delay,” he said.
“The release of the Pinnacle building in April last year, and the Link building some months later, enticed new and incremental market segments into the precinct and in some cases market segments we have not seen buy at Portside before.
“As the only absolute riverfront building at Portside Wharf, Pinnacle appeals to those wanting a premium location, spacious, luxury apartments and the fittings and finishes to match, while Link has a selection of quality one bedroom apartments, in a great location, but at a more entry level price point.
“Across all market segments, we are seeing increasing confidence in the property market, which is also helping to drive sales.”
Mr Butterworth said purchasers had realised the availability of new apartments in prime locations across Brisbane was relatively limited and were taking advantage of the opportunity to buy now.
“There is a definite supply of absolute riverfront apartments in Brisbane and given the market conditions over the past few years, the current supply of this style of product is even more restricted,” he said.
“It is also unique to be able to secure a position in a mixed-use precinct like Portside Wharf, where residents have everything they could need literally at the doorstep including boutique shopping and waterfront dining.
“Along with renowned restaurants, gourmet cafes, fashion boutiques and a Dendy Cinema, Portside Wharf offers every day services and conveniences including an IGA supermarket, Jetts Fitness, day spa and barber.”
The 15 level Promenade Hamilton Apartments features a total of 172 one, two and three bedroom apartments, the 16 level Pinnacle will include 168 one, two and three bedroom apartments, waterfront terrace homes and penthouses, while the four level Link building features 31 one bedroom apartments.
The final apartments at Promenade are priced from $515,000, Pinnacle apartments start from $435,000, while the remaining apartments at Link are selling from just $395,000.
For further information, visit the Portside Wharf Sales & Information Centre in the Portside Wharf Plaza, at 39 Hercules Street, open between 10am and 4pm daily, call 07 3630 1666 or visit www.portsidewharf.com.au.