Brookfield Residential Properties is fast-tracking the release of its new $144 million absolute riverfront apartment development, Rivello, in Brisbane to meet surging demand.
The developer has unveiled plans for the 21 storey building, which will feature commanding views of the Brisbane River and city. It will occupy a site boasting 50 metres of absolute river frontage within the $1.3 billion Portside residential and lifestyle precinct in Hamilton, just six kilometres from the Brisbane CBD.
Brookfield Residential Properties is now taking registrations of interest for Rivello’s 150 one, two and three bedroom apartments, sub-penthouses and two ultra-opulent crowning penthouses
Fit-out is underway on the Rivello Sales and Display Centre, which will showcase a full-size kitchen and bathroom display and is due to open in the coming weeks.
A new report by property analyst Urbis found off-the-plan apartment sales in the Hamilton Northshore precinct had increased 29 per cent from 2019 to 2020, with an extremely low level of supply and limited future supply coming to the market.
The report found owner-occupiers taking advantage of the proximity to the river and key lifestyle amenity accounted for the majority of purchasers last year. It also revealed that apartments in Hamilton have enjoyed sustained long-term growth, with a median price increase of 5 per cent per annum over the last 20 years.
Brookfield Residential Properties’ Managing Director, Lee Butterworth, said the developer had been working to bring Rivello to the market as soon as possible to meet the high demand for quality waterfront property in Brisbane.
“There is strong interest in premium apartments with an emphasis on lifestyle, and Rivello certainly delivers,” he said.
“Buyers understand that opportunities to secure an absolute riverfront location that can never be built out are finite, with very few new riverfront developments approved elsewhere in Brisbane.
“Rivello will be the last project of its kind this close to the river in Northshore Hamilton, as future projects require a greater setback, making it a rarity in this highly desirable blue-chip location.”
Located at Portside, alongside Brookfield Residential Properties’ most recent additions to the precinct – Gallery House One and Two – Rivello will feature an urban sub-tropical character to complement its riverfront address.
The apartments will average a spacious 110sqm and range up to 562sqm, featuring high quality fittings and finishes.
“Since COVID-19, people have been spending more time than ever in their home and are looking for generous spaces to entertain, work, or simply sit back and enjoy the view – this has been considered throughout the luxurious and liveable design of the apartments and exclusive resident amenities,” said Mr Butterworth.
“Like our previous stages, we’re expecting strong interest from Gen Y purchasers through to downsizers already living within a 10 kilometre radius, however, as is being reflected across Queensland, we’re also already receiving enquiry from interstate buyers.”
Rivello will feature significant on-site amenity for residents to enjoy, including exclusive resort-style sanctuaries for entertaining and relaxation, with an infinity-edge pool boasting views across the Brisbane River to the CBD, a private function room with kitchen and bar for intimate gatherings, a residents’ lounge, wine cellar, boardroom, outdoor gardens and barbeque areas.
“The majority of apartments will boast river views and all will benefit from the high level of on-site amenity, designed so residents have numerous spaces to relax and unwind, take in the views and catch-up with family and friends,” said Mr Butterworth.
“On a broader scale, the Portside precinct has been meticulously planned so residents can enjoy the peace and privacy of their own residential sanctuary or engage in the vibrant lifestyle at their doorstep, including some of Brisbane’s best restaurants and cafes, boutiques, a cinema and supermarket.
“When it is time to head to the office, the city is easily accessible via City Cat, bus or car, research has shown the $650 million upgrade of Kingsford Smith Drive has reduced travel times by 30 per cent making commuting easier than ever. Brisbane Airport is also close by.
“All these factors will make Rivello the northside’s premier lifestyle destination.”
Rivello is the ninth apartment building by Brookfield Residential Properties at Portside. For further information or to register your interest, please visit www.rivello.com.au.