A resurgence of the owner occupier market has seen the sell-out of three bedroom apartments in the first stage of the luxury riverfront residential apartments, Pinnacle at Portside Wharf, forcing Brookfield Residential Properties to release the final three-bed stock ahead of schedule.
The luxury apartment project on the river in Hamilton is set for construction later this year after chalking up more than $46 million in apartment and penthouse sales since its release to the market in April.
Three bedroom apartments were quickly snapped up while many would-be purchasers joined a waiting list to be first in line for the final release of the three-bed stock.
Portside Wharf Project Director Lee Butterworth said the majority of those purchasing three bedroom apartments were owner occupiers, indicating a revival of what has been a quiet market segment of late.
“The sell-out of our first stage of three bedroom apartments highlights the strength of the owner occupier market and their demand for spacious, luxury apartments in key locations,” he said.
“In recent years owner occupiers have laid fairly dormant. Those who have been active in the market have tended to opt for smaller apartments.
“What we are seeing in Pinnacle now is a return of these buyers to the market and a trend towards larger apartments.”
Mr Butterworth said many are downsizing from a family home.
“A large portion of these buyers no longer want the maintenance of their existing homes but aren’t ready to drastically downsize their living space, making the 139sqm three bedroom waterfront apartments in Pinnacle the perfect compromise,” he said.
“Pinnacle at Portside Wharf offers luxury riverfront apartments with a luxury residential living opportunity to match with exclusive access to a rooftop pool, gymnasium and entertainment area, with the mixed-use community of boutique fashion and dining right on its doorstep.”
Three bedroom apartments in Pinnacle start from $1.2 million and come with two secure car parks, two bathrooms and a choice of study or media room.
Pinnacle at Portside Wharf will comprise one, two and three bedroom apartments, penthouses and two-storey terrace homes over 16 levels with direct access to one of Brisbane’s best dining, entertainment and retail precincts.
Portside Wharf is now home to more than 30 retailers including a Dendy Cinema, Jetts Fitness and Ella Bache as well as boutiques such as Urbbana Men’s Style Studio, Co Design homewares and Bou’s for Men barber.
It is also home to popular dining spots including Byblos, Sono Japanese Restaurant and Gusto da Gianni and new coffee house Deer Sir.
Pinnacle at Portside Wharf will be the fifth residential building at the mixed use boutique retail and residential precinct, with Flare, Infinity, Loft and the most recent stage, Promenade all complete.
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 Pinnacle Portside