PORTSIDE WHARF'S $10M SURGE
Written on the 10 August 2015
PORTSIDE Wharf is revelling in a merry start to the new financial year, taking property sales of more than $10 million in the first two weeks alone.
Buyers have snatched up 12 absolute waterfront apartments in the Pinnacle development for a combined $10.26 million in the first two weeks of July.
This takes total sales at Pinnacle, the sixth residential stage of Portside Wharf, past the $100 million mark. It takes total sales at Portside Wharf to more than $520 million.
Local buyers are driving the surge, who are interesting in taking a riverfront address in upmarket Hamilton, which is experiencing the 'largest urban renewal project in Brisbane' with this project at the centre.
Brookfield Residential Properties general manager Lee Butterworth says the completion of Pinnacle in April sparked an increase in buyer enquiry, with the month of July experiencing the highest sales.
"Pinnacle has recently opened five new display apartments - one River Terrace and four, two bedroom apartments - which have created a lot of interest and contributed to the spate of sales we have had recently," says Butterworth.
"The displays are located on varying levels to showcase the different vistas and give prospective purchasers a feel for what it would be like to call Pinnacle home.
"There is also a sense of urgency because people can see that opportunities to purchase a brand new, built apartment at Portside Wharf are limited."
Butterworth says a major part of the attraction is connection to the mixed-use space beneath the precinct, which is what buyers are increasingly looking for.
Portside Wharf's six residential buildings are connected to 40 retailers including fine dining, cafes, casual cafes and eateries, boutique shopping, health and beauty, an IGA supermarket and Dendy Cinema.
"This area has become a social hub for residents who take advantage of the space for regular catch-ups, creating a real sense of companionship and community," he says.
"The mixed-use community sits between significant economic areas with easy access to the domestic and international airports and Gateway Motorway.
"This huge investment by the Queensland Government demonstrates its commitment to the ongoing development of Northshore Hamilton."