News | 15 December 2017

Stage 1 River Homes sell out

River Homes bedroom Hamilton Reach Frasers Property Australia

Savvy buyers pounce on exclusive River Homes

Buyers have been swift to claim the rare inner Brisbane jewel of freehold riverfront living, snapping up all four of the magnificent River Homes within Frasers Property Group’s $700 million Hamilton Reach community.

Three of the four homes have been acquired by existing Hamilton Reach residents.

The exquisite collection of absolute waterfront residences is the first release of the $27 million River Homes collection, which ultimately will comprise eight luxurious residences on the Brisbane River.

Cameron Leggatt, General Manager Residential Queensland for Frasers Property Australia, said the response to the unveiling of the River Homes had been extraordinary.

“We released these first River Homes to the Frasers Property database in September and the sales came out of that process, demonstrating the strong demand for freehold waterfront property close to the CBD,” he said.

“Homes of this nature are extremely scarce on the inner Brisbane waterfront and that has laid a solid foundation for the final River Homes release.”

That scarcity is highlighted in the Inner Brisbane Freehold River-Front Home Analysis published by Urbis in July 2017 which reveals how the tightly held nature of riverfront freehold homes and the lack of new development opportunities were fueling capital growth.

In his report, Inner Brisbane Freehold Riverfront Home Analysis, Urbis director Paul Riga finds just 34 riverfront homes in the study area have changed hands in the past two years while there was just a handful of potential development sites for new stock.

“Recent premium riverfront sales indicate that the lack of new riverfront freehold house supply, combined with a growing population, is currently driving higher capital growth and longer hold periods for this product,” he said.

The report explores the very limited development opportunities on the riverfront with just eight sites downstream of the Brisbane CBD deemed to be suitable for individual freehold homes.

It also highlights the capital gain achieved on a riverfront villa at Hamilton Reach which recently resold with an uplift of $417,000 over a three-year period.

 “These trends are expected to continue within inner Brisbane, with the likely result being a further imbalance between supply and demand, spurring increased price growth,” Mr Riga said.

Urbis finds price growth is aided by the scarcity of established riverfront homes coming to the market, which are held an average of 9.4 years – or 2.8 years longer than the inner Brisbane average.

Representing the most exclusive offering to date at Hamilton Reach, the two and three-level River Homes have four bedrooms and four bathrooms plus a powder room and a separate dedicated study area.

The three-level homes, which feature stunning nine-metre-high ceilings in the main living areas, have a private internal lift while the two-level residences also boast grand living spaces with six-metre-high ceilings.

Each home features a spacious kitchen with butler’s pantry, Miele appliances, Zip tap with sparkling water function and Liebherr fridges with a wine cabinet.

Open-plan design has factored in the city’s sub-tropical climate with spacious interiors and stunning outdoor spaces including a private plunge pool.

Construction of the River Homes will commence in December 2017.