Brookfield Residential Properties’ investment in the $5 billion Northshore Hamilton riverfront precinct has tipped over $830 million, with construction commencing on Gallery House One.
The start of works on the $140 million tower, which is now 80 per cent sold, comes as the project’s second and final tower – Gallery House Two – debuts to the market with $34 million in sales from registered buyers.
Brookfield Residential Properties General Manager, Lee Butterworth, was joined by Economic Development Queensland (EDQ) General Manager, Greg Chemello, and builder Multiplex’s Queensland Regional Managing Director, Graham Cottam, to ‘turn the sod’ on the absolute riverfront site today.
Sales in the 20-level Gallery House One have reached over $100 million, and Mr Butterworth said the success of the project proved that quality, riverfront property was in high demand in Brisbane.
“Gallery House has been a stand-out performer in the Brisbane apartment market, quickly gaining a reputation for luxury, riverfront living that offers city conveniences in a tranquil setting,” he said.
“Turning the sod on Gallery House One is a major milestone – made all the more significant by the fact we have simultaneously successfully launched the second phase of the project, Gallery House Two.
“We have partnered with Multiplex to build these apartments to the highest standard and are looking forward to delivering our buyers their dream home.”
Brookfield Residential Properties is the most active developer in the Northshore Hamilton precinct, having already delivered six apartment buildings as part of its neighbouring Portside Wharf retail and residential community.
Mr Butterworth said the company’s footprint in Northshore Hamilton would ultimately total $1.3 billion – making up a fifth of the entire $5 billion urban renewal project – the largest of its kind in Queensland.
“Brookfield recognised the potential of the Hamilton riverfront early and moved to control up to six hectares of unused State land that we have transformed from a disused industrial area into a thriving waterfront community,” he said.
“Our Portside Wharf development was the catalyst for the rejuvenation of Northshore Hamilton and a transformative project for the entire suburb.
“Gallery House will continue this legacy, ensuring the Hamilton riverfront builds on its reputation of offering some of the best living opportunities in Queensland.”
Gallery House One offers one, two, three and four bedroom apartments with balconies up to 240sqm for residents to take in river and city views.
The building is topped with a residents-only rooftop sanctuary featuring resort-style amenities, including a 20 metre infinity pool, lounge and barbeque area.
Remaining apartments in Gallery House One start from $419,000, with two penthouses available starting from $2,295,000.
For more information on Gallery House visit the Sales & Display Centre at Portside Wharf or gallery-house.com.au.