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 stylish waterside 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.
“People from Brisbane associate Hamilton as a high-value suburb. Hamilton has always had one of the highest median house prices in Brisbane and offering a brand new apartment product at an excellent price point has been met with huge demand from the local market,” he says.
“We have seen local buyers purchasing a local product.”
Because construction on Hamilton Harbour starts after the Federal Governments’ increased first home buyer grant cut off date, the product has appealed to those not in the first home buyer market.
“We are doing something different here. We have attracted a broad spectrum of people outside the first home buyer market, including people of all ages and incomes,” Woodley says.
Leighton Properties Executive Director and State Manager Queensland Andrew Borger adds: “Hamilton’s positioning as a high-growth suburb is buoyed by employment infrastructure and amenity.
“Hamilton sits in between the two biggest employment nodes in south-east Queensland, the CBD and Australia Trade Coast, making the promise of employment and future opportunity at Hamilton very appealing for buyers.
“It is also ideally positioned just six kilometres from the CBD, two kilometres to the Gateway Motorway and nine kilometres to the Brisbane airport.
“Hamilton Harbour is a fresh offering in a well-established and highly-valued, yet fast-growing, suburb.
“Bordered by Racecourse Road, Portside Wharf and Brett’s Wharf, Hamilton Harbour will link all three precincts with a stylish high street, ensuring the high-street lifestyle and retail and restaurant offerings will continue throughout the waterfront precinct.”
Construction on Hamilton Harbour is due to start at the end of this year and completion is scheduled for 2011.