18 posts tagged “hamilton”
"Strong pre-sales of residential units in Hamilton Harbour stage 1 with 89% of 257 units now sold. (This project is also a JV with Leighton Properties) ... Hamilton Harbour and King George Central forecast to commence later this calendar year subject to finance being secured."
"SALES LEVELS ACHIEVED ON STAGE 1 OF THE HAMILTON HARBOUR MIXED-USE RESIDENTIAL, COMMERCIAL AND RETAIL DEVELOPMENT HAVE EXCEEDED OUR EARLIER EXPECTATIONS. ... TOGETHER WITH LEIGHTON PROPERTIES WE HAVE NOW COMMENCED THE PROCESS OF SECURING FUNDING FOR THE CONSTRUCTION PHASE AND, GIVEN THE HIGH LEVEL OF PRESALES ACHIEVED, ARE CONFIDENT OF ACHIEVING THIS TO ALLOW CONSTRUCTION TO COMMENCE SHORTLY."
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
http://city-north-news.whereilive.com.au/news/story/residents-oppose-river-tower/
HAMILTON: More than 100 Hamilton residents will challenge Brisbane City
Council this week to object to a proposed 15-storey riverfront
development on Kingsford Smith Drive.
Tenants from 101 units at Bretts Wharf Apartment Complex in Harbour Rd have sent submissions to the council.
They say the multi-unit dwelling, which features short-term and
hotel accommodation, will be inconsistent with the area and create
traffic chaos.
``Fifteen storeys is a joke in such a tiny area,’’ Tony Hall, who lives on the eighth storey of Windermere tower, said.
French Quarter in Alice Street Brisbane
"Continuing to progress the submission of an application for a development approval for this exciting future redevelopment opportunity."
Hamilton Harbour
"Excellent market response to the first stage of the “Hamilton Harbour” residential development"
"Development approval now received and marketing of first stage of residential commenced March 2009. First stage 86% sold."
"Strong pre-sales of residential units in Hamilton Harbour stage 1 with 86% of 257 units now sold. (This project is also a JV with Leighton Properties)"
Commencement Dec Qtr 2009
Est. Completion Staged development over approximately 5 years
"After launching the first residential offering in early March, Hamilton Harbour joint-venture partners Leighton Properties and Devine have achieved their first major milestone – achieving 200 sales.
Selling out more than $100 million worth of apartments in just over four months is a triumph for the developers, which have attributed strong sales to the developments’ Hamilton location.
Devine National Marketing Director Ken Woodley says more than 80 percent of buyers are from Brisbane."
Construction has not yet commenced.
"Discounting by more than 20 per cent is commonplace for some top Gold Coast addresses and many houses and apartments are yet to sell. A property owned by the bankrupt entrepreneur Matthew Perrin sold on Albatross Avenue, in Mermaid Beach, in May for $2.75m after it was purchased for $4.375m in October 2005.
Former Sydney Swans footballer and founder of tourism group Breakfree, Tony Smith, sold his Hedges Avenue house at Mermaid Beach for $28m to IT entrepreneur Daniel Tzvetkoff - less than half the expected $60m. Now the half-finished mansion Mr Tzvetkoff purchased is to be sold after his company BT Projects was placed in administration.
Other prestige properties around the country are set to sell at sharp discounts, with many vendors shaving millions of dollars off the asking price."
See The Australian, photos and chart
The chart shows that people lost money in New Farm, Coronation Drive, Paddington, Hamilton, Hastings Street in Noosa and the Gold Coast.
"The sort of prices that were being paid were not sustainable and now we are back at 2001 and 2002 prices," Mr Fatouros said. He estimated prestige home prices have fallen about 25 per cent from their peak, with another a decrease of 10 per cent to go.
"I don't think we have seen the bottom yet," he said.
But one Gold Coast agent, who declined to be named, said there were more mortgagee sales to come. "The banks don't want to flood the market with pressured sales and are hoping for some recovery in prices," he said.
"They are drip-feeding properties on to the market."
See story in Courier Mail
INNER Brisbane rents are increasing at more than 10 per cent a year, with a downturn in new apartments expected to keep vacancies tight.
DTZ Research has shown the biggest growth has been in one-bedroom units in the inner south and inner west suburbs of South Brisbane, West End and Indooroopilly, where rents have risen by up to 20 per cent.
The median rent of a one-bedroom unit in the inner south is now $420 a week, only $10 less than the CBD median price. DTZ director of project marketing Paul Barratt said the strongest growth in the next two years would be in near-city units and middle-ring suburbs with good transport.
SQM has a good website to look at rental vacancy rates:
Brisbane City (4000 postcode) - 1.7%
South Brisbane area (4101) - 1.6%
Toowong (4066) - 1.4%
St Lucia (4067) - 1.5%
Indooroopilly (4068) - 1.9%
Sherwood area (4075) - 2.6%
Hamilton (4007) - 4.4%
Noosa (4567) - 2.2%
Mooloolaba (4557) - 1.3%
If you have thinking of buying in Hamilton Harbour, have a look at Rive Apartments as well. Similar location, larger apartments, and a lower price.
Ken Woodley, the Marketing Director for Devine, left the Harbour One sales office in Hamilton this afternoon with a big smile on his face. As he drove back to his large apartment in the Mirvac Quay West building in Brisbane, he was no doubt thinking about the 85 apartments that his team "sold" by way of expression of interest over the past two weeks in the Hamilton Harbour development.
The glossy brochure for Hamilton Harbour given out at the sales office is very impressive. You can feel the quality in the brochure. It is a shame that the brochure is misleading. There are nice PhotoShopped photos (i.e., fake photos) that show happy people on balconys with impressive river views. However, no apartment in Harbour One will have a balcony with the designs shown in the brochure, and the views will not be anywhere near as impressive (because there are buildings between Harbour One and the river.) And is it correct to say "Waterside Living" for a building on Kingsford Smith Drive that is two blocks back from the river with no direct river views?
The apartments with the best views face West, which is not great in a Brisbane summer.
The apartments are small and expensive. There are only three elevators for 238 apartments! There is no gym included -- you can join a commercial gym being built on the site. The living areas for most apartments have popcorn ceilings with oyster lights -- not the highest quality. Many one bed apartments do not have a car park. And a number of the one bed apartments do not even have a laundry -- not even a cupboard with a washing machine or dryer.
Type A One bedroom
41 sqm internal, 50 sqm total
No river views.
No car park.
No laundry.
Kitchen is a strip of cupboards in living room.
No room for dining table inside -- plan shows dining table on balcony.
Sliding doors to bedroom.
Price range - $295,000 to $385,000.
Price per square metre for most expensive of this design - $7,700
But if you add $50,000 for lack of carpark, then price per square metre is $8,300.
Type C One bedroom plus "extended living space"
54 sqm internal, 64 sqm total
Potential river views.
Kitchen is a strip of cupboards in entry way.
No room for dining table inside -- plan shows dining table on balcony.
No bath - shower only.
Price range - $405,000 to $495,000.
Example: Level 7 apartment is $430,000
Price per square metre for most expensive of this design - $7,734
Type E Two bedroom
73 sqm internal, 84 sqm total
Potential river views.
Second bedroom not near second bathroom
Both bedrooms at front
Price range - $555,000 to $695,000.
Example: Level 10 - $640,000
Price per square metre for most expensive of this design - $8,273
Type F Two bedroom
84 sqm internal, 98 sqm total
Largest two bed apartment
End apartment.
Potential river views.
Excellent glass-fronted wall to ceiling living space -- should give this apartment a wow factor!
Bedrooms at side or back -- second bedroom looks into blank wall.
Price range - $605,000 to $805,000.
Examples: Level 10 - $690,000; Level 12 - $745,000
Price per square metre for most expensive of this design - $8,214
It would be interesting to track re-sales in the recent Devine Charlotte Towers, to see if the apartments were priced too high when sold off-the-plan.
According to REIQ, the medium Hamilton apartment price for December Qtr 2008 was $415,000, which is down 11.6% on the previous quarter. Buying an existing apartment may be better value, or even Portside. For example, a two bedroom apartment in Admiralty Two, with direct river views and absolute river front, can be purchased for less than $650,000 (106 sqm) and is less than $6,000 per sqm. A one bedroom in Quay West, where Ken Woodley lives, is about 74 sqm, includes a car park, and is about $440,000 (less than $6,000 per sqm).
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