Showing posts with label portside. Show all posts
Showing posts with label portside. Show all posts

Saturday, May 3, 2014

Proximity Hamilton

Peloton is developing Proximity Hamilton.  This appears to be located at the back of the Portside development, and is not direct riverfront (although the river and cruise ship terminal is nearby).  One beds from $330,000 and two beds from $495,000.  A "free" furniture pack is offered.  Looking at the website, it appears to be targeted at people in their twenties who like to eat but don't actually eat that much.

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

A riverfront apartment building at Portside Hamilton is coming soon it seems.  It is called Pinnacle Portside.

Sunday, October 28, 2012

Portside at Hamilton

The Portside Promenade apartment building is now complete.  The developer is advertising that 80% is sold, with the remaining 20% up for sale.  The developer is providing a discount of $20,000 off the list price, but I guess the discount will be higher if a cash offer is made.


Saturday, March 3, 2012

Portside and Hamilton Harbour

This photo shows how crowded this area of Hamilton will soon become with apartment developments.

Site A has development approval for 87 serviced apartments.  Site B has DA for 127 residential apartments.


Saturday, November 19, 2011

Northshore Hamilton

The $5 billion Northshore Hamilton urban redevelopment is underway, with thousands of apartments expected to be built in the next 10 years.  About 15,000 new residents are expected to move into this area, which is an old port and industrial precinct 6 km down river from Brisbane City.
  • 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.
Will there be an oversupply of small, non-riverfront apartments in this part of Hamilton, where there are few facilities and not much within walking distance?

Saturday, November 12, 2011

Devine's Hamilton Harbour

Hamilton Harbour is a three building apartment complex (plus one additional building of commercial space) currently being developed by Devine.  Two of the three buildings are almost complete.

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.





Tuesday, March 22, 2011

Developments at Portside

The photo shows development sites by Devine, Citimark, Mirvac and Brookfield Multiplex. (Double click on photo for larger view.) An endless supply of apartments, which means values are unlikely to rise significantly.

Saturday, March 12, 2011

Mirvac at Portside


Mirvac has lodged plans for development approval for 4 buildings in the Portside Hamilton area. The towers will range in height from 23 levels for Building 1, 18 levels for Building 2, 8 levels for Building 3 and a single level retail building for Building 4. There will be over 500 apartments. The apartments are small. 300 apartments will be only 50 sqm internal, and about half of these will not have a balcony. (Compare Quay West 1 bedrooms by Mirvac, that are 72 sqm including balcony.) About 200 2 bedroom apartments will have an internal area of less than 80 sqm.

This development will add further density to the area, and kills the rear views for the Promenade Apartments from Multiplex.

Friday, August 6, 2010

Mirvac's Hamilton Project

Listed real estate group Mirvac is set to continue its successful track record of quality residential development on Brisbane in-fill sites after the purchase of a prime 7,637-square-metre former Department of Primary Industry site at Hamilton.

Previous projects by Mirvac on classic in-fill sites in Brisbane include The Arbour On Grey (at South Bank), Quay West, Grosvenor, Waterline Bulimba, Park Hill Village, Mariner’s Reach, Cutters Landing and more recently Waterfront Newstead.

Mirvac’s Queensland CEO Matthew Wallace says the Hamilton site, located in Hercules Street, is six kilometres from the CBD and will likely accommodate more than 500 residences. Its end value will be around $300 million.

“We are very excited about the purchase of this site and while our planning is still in its initial stages at present we will be delivering a residential product that will broaden the price segments in which we operate,” he says. “The site is extremely well located and the same team that has delivered such projects as Cutters Landing, Tennyson Reach and more recently Waterfront Newstead will be behind the Hamilton development.

“The product will be affordable, it will be quality, it meets the State Government and city council’s planning goals of higher density in the CBD fringe and will be a prime example of contemporary urban design.” Wallace says the Hamilton development is a prime example of Mirvac’s national strategy to continually review and refine its product offering in line with demand and opportunities that arise.

...

Wallace says the Hamilton development will leverage off the established amenity within the immediate locale and it is proposed that the urban street environment will integrate with the existing Portside development.

The site is adjacent to the Portside Wharf development and cruise ship terminal, is approximately 500 metres to the City Cat, five minutes to the Gateway Motorway and 10 kilometres south of the Brisbane Airport.

The DPI has recently vacated the site.

“We are planning a range of innovative one and two bedroom product on the site and our research indicates that there will be significant demand for this product and this location,” he says.

“Our plan is to provide affordably priced, high-quality residences to a broad section of the marketplace and our team is excited about turning their minds to a new challenge.

...

Wallace says it is expected that approvals permitting, Mirvac will release the first of the residences at Hamilton next year.

See QBR

Friday, October 30, 2009

Portside Promenade

Multiplex still has a number of apartments to sell off-the-plan at Portside Promenade, located near Hamilton. Construction has not yet started on this building, which is the third apartment building in the development. See prior posts.

The development is behind other buildings, and the fourth building in the development will block some of the river views from Promenade. The better views are to the west, but the apartments do not have central air conditioning - -there is a split system aircon, with a compressor on the balcony, for the living room only. Not a good call Multiplex!

Example pricing:
  • level 4, 2 bed, 2 bath, river side, 92sqm internal, 112 sqm total - $695,000
  • level 5, 2 bed, 2 bath, northern view, 90 sqm internal, 114 sqm total - $650,000
  • level 8, 2 bed, 2 bath, river side, 91sqm internal, 120 sqm total - $819,000
  • level 9, 2 bed, 2 bath, river side, 93 sqm internal, 111 sqm total - $870,000
  • level 10, 2 bed, 2 bath, northern side, 93sqm internal, 112 sqm total - $850,000
  • level 10, 2 bed, 2 bath, northern side, 93sqm internal, 115 sqm total - $710,000
  • level 15, 1 bed, 1 bath, northern side, 55 sqm internal, 72sqm total - $515,000
  • level 15, 3 bed, 2 bath, river side and river views, 118 sqm internal, 150sqm total - $1,275,000

Friday, April 3, 2009

New Website for Portside

Multiplex is still selling Portside Building 3.

Apartments for Sale
New website

1 bed plus study, level 12, 83sqm = $600,000
2 bed, 2 baths, level 15, 115 sqm = $1,120,000

Saturday, September 20, 2008

Promenade Building at Multiplex's Portside

Multiplex have started to sell the fourth building in the Portside development at Hamilton Shipping Terminal. This building is named Promenade. Here is a video.

Promenade is being marketed as waterfront, but the building is not waterfront. It is behind other buildings. (In addition, the firth building, Hamilton Waterfront Residences which is the same height, will be built in front of Promenade. HWR will have "absolute waterfront" apartments with an average price of $1.6M.)

Promenade has apartments from level 4 to level 15. There are a mix of 1, 2 and 3 bed apartments. There are two levels of quality -- the lower levels are not as good quality as the higher levels. For example, the lower levels are not fully airconditoned - there is a wall mounted unit in the living room only. The cupboards are laminate. On the lower levels, the quality of finishes are lower, and in my opinion by today's standards, quite poor.

There are 144 apartments, and according to documents dated 19 September 2008, 45 apartments have sold. Most of the apartments that sold are on levels 6 and 7 (which are the 3rd and 4th levels of apartments). Only 8 apartments have been sold on the top six levels. The most expensive is $1,650,000. The cheapest is a 1 bed with no car for $385,000.

Here are some sample prices (noting that the first level of apartments is level 4):

Level 5, Apartment P014, 2 bed, 2 bath, 1 car, 90 sqm internal, 24 sqm balcony, 114 sqm total, plaza views = $669,000

Level 8, Apartment P033, 2 bed, 2 bath, 1 car, 95 sqm internal, 29 sqm balcony, 124 sqm total, river views = $719,000

Level 12, Apartment P141 (illustrated above), 2 bed, 2 bath, 1 car, 92 sqm internal, 18 sqm balcony, 110 sqm total, river views = $960,000

Level 12, Apartment P142, 2 bed, 2 bath, 1 car, 93 sqm internal, 17 sqm balcony, 110 sqm total, Hamilton views = $790,000

Level 14, Apartment P068, 2 bed plus study, 2 bath, 1 car, 103 sqm internal, 26 sqm balcony, 129 sqm total, north view = $990,000

The rentals estimates given out at the display say that the rentals estimated for Promenades for two bedroom apartments is $520 to $600 per week, or up to $675 per week if there is a study. This is not a great return for the prices listed above.

Some other figures in the Multiplex brochure:

Capital growth for units in Hamilton in 07/08 was negative 5.9% (for Brisbane City it was 13.5%).
Medium sales price for units in Hamilton in August 07 was $645,000, in March 08 it had dropped to $438,000. In the corresponding period, Brisbane City medium sales price for units had risen by $30,000.

What concerns me about this building is that it is not absolute waterfront, more than half the apartments do not have river views, the quality of finishes on the lower floors are poor (thus attracting cheaper rents and pulling down building values), and the building will eventually be surrounded by other buildings on all sides. Those apartments with river views have obstruction and roof views of other buildings. The price per sqm is high, for example $8727 for a 2 bed on a higher floor. As far as I can tell, this building does not have a pool or gym.