Brookfield Brisbane river apartments a smash hit

BROOKFIELD Residential Properties’ Rivello Hamilton has secured over $102 million in off-the-plan sales upon its launch.

The $147 million absolute Brisbane riverfront 21-storey apartment development, is located six kilometres from the Brisbane CBD, sitting within Brookfield’s $1.3 billion Portside residential and lifestyle precinct in Hamilton.

“There is certainly significant demand for Brisbane property in the current market and buyers recognise Rivello represents a rare opportunity to purchase a new apartment in a building on the Brisbane River,” said Lee Butterworth, managing director at Brookfield.

The 150 luxury apartments offer residences large living spaces, at an average size of 120sqm, within an open plan design, high quality fittings and finishes and premium appliances.

Two-bedroom apartments, in the project’s Lifestyle Collection are priced from $605,000, while two- and three-bedroom apartments in the River collection are priced from $720,000.

“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,” said Butterworth.

Brookfield announced it was bringing forward the release of the development, back in June, to meet heightened demand in the city’s apartment market.

With Brisbane, in the year ending March, outpacing the rest of the nation in both apartment and townhouse approvals, despite an overall reduction in high density approvals nationally.

With Queensland’s capital also recording the second highest residential market growth in the country, following Perth, according to Knight Frank’s Prime Global Cities Index.

The project’s penthouses were some of the first sites to sell, with the remaining two sub-penthouses priced from $2,070,000 and offering up to 302sqm of floorspace, chef style kitchens, a butler’s pantry, fireplace and outdoor entertaining spaces.

“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,” added Butterworth.

Buyers were also drawn in by amenities including an infinity-edge pool, a private dining room, a residents’ lounge, wine cellar, business centre, outdoor gardens and bbq areas.

“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 per cent of sales to date to interstate purchasers.”

Occupiers will also have access to public transport in the area, such as the CityCat, as well as to major arterial roads, while the Brisbane Airport is also within easy proximity.

“Rivello’s location truly is unparalleled when you consider its accessibility, absolute riverfront position and vibrant street level,” concluded Butterworth.