Brookfield Residential Properties has settled more than $64 million of their waterside apartments in Promenade Hamilton Apartments, the latest stage of its Portside Wharf masterplanned community, since its completion in May.
In total, 100 apartments have settled in the luxury residential building, situated at the heart of the riverfront development in the blue-chip suburb of Hamilton.
Brookfield Residential Properties Project Director Lee Butterworth said the figure represented 80 per cent of the 125 apartments sold at completion in Promenade.
“The settlement rate has been extremely strong in the current market and, in addition, we have made more than $6 million in new sales since Promenade was completed, which is a fantastic endorsement of the quality of what has been delivered,” he said.
It is the fourth residential building that offers riverfront living in the sophisticated Portside Wharf community, at the centre of the Northshore Hamilton redevelopment precinct, which stretches 2.5 kilometres along prime riverfront.
Promenade comprises one, two and three bedroom residences, which are more than 80 per cent sold.
Mr Butterworth said the building had appealed to those wanting luxury residential living in Brisbane and who wanted to get in at the beginning of the urban renewal of Hamilton, while living in an established precinct.
“This area is set to undergo unprecedented growth in the coming years and will eventually be home to some 15,000 residents,” he said.
“Buyers want to get in at the start of that rejuvenation so they can take full advantage, however, they also want to be part of a development with an established reputation and amenities at the doorstep and Portside Wharf ticks all those boxes.”
Mr Butterworth said Promenade had attracted a mix of buyers.
“The location has appealed to both owner occupiers and investors, including those from across Brisbane and the southern states,” he said.
“The big thing for owner occupiers is the lifestyle on offer, but also the size of the apartments, including the balconies, which are much larger than many other developments in the area.
“Investors also recognise the retail will help to attract tenants, particularly given the strong rental demand already experienced in the area and the potential for capital growth over the next four years in-line with the area’s rejuvenation.”
The new Portside Wharf Sales & Information Centre is now open in the Portside Wharf Plaza, next to the IGA supermarket, at 39 Hercules Street, between 10am and 4pm daily. For further information, call 07 3630 1666 or visit portsidewharf.com.au