Saturday, May 3, 2014
Proximity Hamilton
The largest apartment is a corner two bedroom: 82 sqm internal, with a 13 sqm balcony. See floor plan below. This looks ok, but there are only 4 of these apartments. Most of the other apartments are small -- 50 sqm internal for a 1 bedroom (where I would expect at least 60 sqm to be reasonable size.)
Saturday, February 23, 2013
Pinnacle Portside
Saturday, December 29, 2012
Brisbane Rents
Post Code 4000 (Brisbane City): $585 per week
Post Code 4005 (New Farm): $530 per week
Post Code 4007 (Hamilton): $420 per week
Post Code 4101 (South Bank/ South Brisbane): $510 per week
Post Code 4066 (Toowong): $395 per week
Post Code 4067 (St Lucia): $420 per week
Post Code 4068 (Indooroopilly/Taringa): $385 per week
There is a lot of good rental information on the RTA website at: Median Rents Quick Finder
Do not use WhatRentMyHome. This "service" is operated by a real estate agency, and the information it provides is inaccurate and out-of-date, and is misleading.
Wednesday, November 28, 2012
Mirvac Cancels Foreshore Hamilton
"Mirvac has confirmed its refunding off the plan deposits for Brisbane and Townsville residential projects. Construction was scheduled to commence on two key apartment projects this financial year, but given the limited sales and concerns on the off the plan market's immediate future looked, Mirvac's John Carfi confirmed to The Courier Mail that contracts had been cancelled and deposits refunded.
The first stage of Foreshore Hamilton was to be a 23-storey building with 263 apartments. Only three of the apartments had been sold, the paper noted. Prices of one bedroom apartments started from $345,000.
It was possible within about 18 months that Mirvac would reconsider a fresh start on both projects. Mr Carfi said despite there being strong economic fundamentals evident in Queensland, confidence was at an all-time low. "With the Queensland market, it is difficult to see what the catalyst is going to be (to improve confidence),'' he said."
See Property Observer
Friday, August 31, 2012
Devine Makes a Killing at Hamilton Harbour
Devine says 90% of total apartments in the two Hamilton Harbour towers have now been settled. Construction of both towers is now complete with a third tower now under construction. There are 13 apartments available for purchase in tower one and 31 available in tower two.
Devine says the inner-Brisbane market, the focus of more than 40 apartment projects by a variety of developers, is now stable after a “prolonged period of weakness” with successive quarters of good volume sales.
The Hamilton Harbour precinct located between Racecourse Road and the Brisbane River in Hamilton is a joint venture between Devine and Leighton Properties with one-bedroom apartments starting at $425,000. Devine says price is continuing to drive the majority of sales with 70% of unconditional sales under $550,000.
Monday, August 6, 2012
Brisbane Airport Proposed Second Runway
Saturday, March 3, 2012
Portside and Hamilton Harbour
Site A has development approval for 87 serviced apartments. Site B has DA for 127 residential apartments.
Friday, February 24, 2012
Hamilton Harbour Press Release
Thursday, February 9, 2012
Failed Settlements At Hamilton Harbour
Devine also reported to the ASX this week the following information:
- Hamilton Harbour (Towers One &Two) settlements commenced with 85% of contracted pre-sales settled prior to 31 December 2011
- This strong completion result is testimony to the quality outcome at Hamilton Harbour
- Sales activity within the third residential tower has improved and continues into 2012.
Sunday, February 5, 2012
Devine Hamilton Harbour Settlements
"Market conditions have continued to deteriorate across most Australian property markets which have had a significant impact on the company bringing new projects to the market."
In Brisbane, Devine has a joint venture with Leightons on a multi-building apartment complex called Hamilton Harbour, where most off-the-plan sales for buildings one and two have reached settlement.
According to the AFR this week, as at late December, Devine had settled 80% of the off-the-plan sales. Why have 20% not settled? All may be revealed when Devine's financial results are released shortly. If 20% of the sales have fallen over, this may impact nearby developments by Brookfield Multiplex, Mirvac and Citimark.
Devine has a rental website for the project, advertising two bedroom apartments for rent from $545 per week. But some two bedroom apartments are listed on RealEstate.com.au for $795 a week, which seems outrageously high for a 85 sqm apartment facing West.
Friday, January 27, 2012
Hamilton Reach Press Release
Following a successful sales run equating to more than 60 percent of available product, Australand is about to start work on The Green Quarter – the second release at Hamilton Reach since its launch in April 2011.
The Green Quarter – comprising 12 unique terrace homes located just one street back from the Brisbane River is anticipated to be completed late 2012.
“Hamilton Reach has generated a high level of interest due to its sought-after low to medium density masterplan, diverse and considered product and its unrivalled riverfront location,” he said. “The project has been designed as a highly liveable community optimising views to the river and parklands. Hamilton Reach will be intrinsically different to anything else in the area as it has been designed as a boutique enclave that is spaced out over a number of low rise buildings which have been extremely well received.”
ULDA urban development director, Matt Leyshon, said Northshore Hamilton is currently undergoing the biggest urban renewal in Brisbane’s history and Australand’s Hamilton Reach is a significant part of the precinct’s transformation.
“Northshore Hamilton is the most significant waterfront redevelopment in Brisbane since Expo 88 and Southbank,” he said.
Watermarque features a stunning collection of 78 contemporary apartments across two five-storey buildings. There are a variety of floor plans with one, two and three-bedroom configurations on offer ranging in size from 56 sqm to 333 sqm.
The Green Quarter’s terrace homes will be built according to stringent design and construction standards in a bid to reduce the future energy costs for the end user.
Designed by Rothe Loweman White Architecture, the terrace homes will feature a 3 kilowatt solar power system, double glazing to windows and doors, cross ventilation, a 3000-litre rainwater tank plumbed to the toilets and laundry, private courtyards and smart meters to monitor water and electricity usage.
The terrace homes range in size from 193sqm to 280sqm and remaining homes are priced from $925,000 - $1.375 million. Watermarque apartments are selling from $535,000 - $950,000.
Wednesday, November 23, 2011
Hamilton One (also called Harbour One)
Recently, I arranged an inspection of apartments for sale in Hamilton One. I am in the market so the request for an inspection was 100% genuine.
The complex was only just finished. The thing that turned me straight off permanently in my particular situation, was that all the one bedroom apts do not have an oven to cook with and there is no provision for one, just a two-burner gas top. They have put in a movable bench-top convection microwave. It would be impossible to put a small gas BBQ on the balcony because the balcony’s are essentially closed in albeit for the concertina sliding windows which are up at about eye level upwards so the gas BBQ would essentially be inside, a VERY BIG no-no. Of course, horses for courses and some people don’t cook, (I suppose??) so they may see that as a plus. Micro-waved and wok-cooked food does not appeal to me personally.
While prices are advertised at $300,000 for one bedroom, that’s with a view of other high rise buildings, and no car park. I guess if you don’t have a car that’s fine, why pay for one if you don’t need or want it? I personally could not do without one. Therefore for me with a car, I think from memory (check for yourself) that one needed about a $415,000 start to have a car park however, that did include a reasonable view (in my opinion) since the one brm apts with car parks are on higher floors than those one brm apts without a car park.
The concertina windows when open did seem to provide good ventilation and individually controlled ducted air con is throughout. The apt’s did have plenty of natural light which I thought was good, though another seven story complex is now under construction on the Nth side so that may impact on light, maybe not.
Comms are Optus only. I personally did not like that “no-choice” option. According to the agent, hot water is individually metered from a central (gas??) boiler that distributes hot water around the complex and water is individually metered. I’m not sure how one went about getting electricity. I wonder what the unit rate for those utilities is? Foxtel is wired in, buy it yourself if you want it.
The sales agent while quite pleasant seemed otherwise busy so other than a couple of apartment configurations, I was not shown around the complex to see the pool and any other facilities that may be there. I saw one pool though I think there may be two???
Saturday, November 19, 2011
Northshore Hamilton
- Two Devine apartment buildings are almost complete, with a third on the way.
- Brookfield Multiplex is building another Portside apartment building, Promenade (172 apartment), with two more planned.
- Citimark has development approval for Rivana, 15 levels with 208 apartments.
- Mirvac has a three building apartment complex planned, with a sales display office constructed onsite.
- Australand has launched 78 apartments as part of its $400 million project, Hamilton Reach.
Saturday, November 12, 2011
Devine's Hamilton Harbour
According to Place Real Estate Agents, across the three buildings there are 658 apartments. There are 125 apartments remaining for sale (mostly in the third building). In the September 2011 quarter, 14 apartments sold (about one a week). At this rate, it will take 26 months to sell the remaining apartments.
One beds are listed for rent from $300 a week, two beds from $510 a week, and three beds from $850 a week.
Here are some recent photographs, taken from the Portside area, of the two finished buildings.
Buyer Confidence Improves
- Thousands of new apartments in Brisbane's inner city have helped boost sales volumes 30% in September quarter compared with the June quarter, but the number sold is still substantially lower than the same period in 2010.
- 312 new apartments sold in September quarter, according to Place Advisory research report
- Influx of new projects scheduled for next year - 1000 new apartments are expected to come onto the market in the first half of 2012.
- 2059 new apartments currently for sale in Brisbane
- Average sales price was $580,529.
- "The Brisbane market is at the bottom of its cycle and we are now starting to see an increase in inquiry and sales activity" according to Mr Walker from Place.
- Most of the sales appear to be to overseas and interstate buyers.
- "The biggest positive is the local buyers are yet to enter the market. ... As consumer sentiment improves, they will start buying again."
- The influx of new units, particularly in urban renewal precincts such as Hamilton riverfront, Newstead River Park, and Show Ground Hill, could limit the market's recovery.
- Agents said too much choice and concerns about whether the market has hit bottom could constrain buyers.
- Urbis property economics consultants said Brisbane has a long-term undersupply problem.
Wednesday, September 28, 2011
Oversupply in Northern Brisbane?
"The glut of stock has come as sales volumes hit new lows in 2010 but the soften has slowed as prices have readjusted and interstate investors see value in Brisbane property. ... Research analyst Lachlan Walker warned that if the majority of projects were not overwhelmingly successful it would put further downward pressure on buyer confidence."
The article had a nice rendering from the Arden Property development at Albion called Eden. This is said to be a $215 million residential development, with 3 buildings of six storeys each, for a total of 280 apartments.
Friday, September 16, 2011
Milton
Saturday, August 27, 2011
Oversupply of Apartments in Brisbane, especially Hamilton and Albion
The June quarter report by real estate agent Place Advisory on inner Brisbane's apartment market says new developments planned for this precinct, which includes suburbs such as Bowen Hills through to Hamilton, threaten to create an oversupply in coming months.
Large multi-density communities are being approved almost on a weekly basis, while new mixed-use communities are poised to enter pre-release marketing campaigns before Christmas.
Place Advisory says that if many of these projects are not an overwhelming success, it will add to an already pessimistic local dynamic, ultimately driving away buyers from off-the-plan sales. The success or failure of only a few will affect the wider Brisbane property market in the longer term, it says.
Almost 70 per cent of the unconditional sales during the quarter were priced under $550,000. Only 6 per cent were above $750,000. Total sales were about $136 million, in line with the average total quarterly sales in the past five years.
There were 2144 new residential apartments for sale, or about 27 months' of stock, in inner Brisbane at the end of the financial year.
Of these, 50 per cent were two-bedroom, 33 per cent are one-bedroom apartments, and only 12 per cent three-bedroom configurations.
Place says most of the unconditional sales in the quarter were to interstate or international buyers.
Devine's Hamilton Harbour
"Continued strong sales performance
• HarbourOne - 98%sold ($137 million in value)
• HarbourTwo - 86% sold ($92 million in value)
• Riverside - 60% sold ($57 million in value)
Construction on schedule for all three towers:
• TowerOne 78% complete
• TowerTwo 63% complete
• TowerThree commenced
Significant progress on mixed-use elements of Hamilton Harbour with strong retail and commercial leasing underway
Construction on Hamilton Harbour is ahead of schedule and under budget with completion of first two towers in first half of FY12
• Hamilton Harbour TowersOne and Two are both ‘topped out’, with fit-out complete on over 60% of apartments
• Construction delivered revenue of $108 million
• Devine Construction awarded $60 million contract to build ‘Riverside’ – the third tower at Hamilton Harbour."
So, Riverside is costing $60 million to build (including profit for the builder); and 60% sold gives $57 million in sales. Looks like a good profit margin here for Devine.