Brookfield Residential Properties has receives approval for $141m tower at Portside Wharf

A new 19-storey apartment tower will be built on the last available riverfront site in a $1.3bn community in inner Brisbane.

A leading developer will launch the next stage of its $1.3bn community later this year with a 19-level resort-style apartment tower earmarked for the precinct’s last available absolute riverfront site.

Brookfield Residential Properties has received development approval for the $141m tower at its Portside Wharf community at Hamilton in Brisbane’s eastern suburbs, after receiving development approval from Economic Development Queensland.

The tower will be the ninth developed at Portside by Brookfield, which has already delivered over 850 luxury riverside apartments in the dining and shopping precinct.

The 150-apartment tower will have 50m of absolute Brisbane riverfront and will be the last of its kind in Northshore Hamilton, with all future riverfront developments required to have a greater setback from the river.

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Brookfield Residential Properties managing director Lee Butterworth said they were confident in the strength of the Brisbane market and were working toward launching the project later this year.

“The opportunities to secure an absolute riverfront apartment that can never be built-out, in a sought-after, blue-chip location such as this, are few and far between,” he said.

“When you couple that with the unrivalled lifestyle on offer at Portside, this new building will be a true standout and, as a result, we are confident it will be met with significant interest.

“It will feature an urban subtropical character that embraces and celebrates the riverfront address, with a suite of luxurious amenities for residents to enjoy as they take in the stunning location.”

An artist's impression of Brookfield Residential Properties newest apartment tower at its $1.3bn Portside Wharf community.

The development will have one, two, three and four bedroom apartments, sub-penthouses and two ultra-opulent penthouses, with 270 degree views. It will have an infinity-edge pool with views across the Brisbane River to the CBD, a private function room with kitchen and bar for more intimate gatherings, a resident’s lounge, wine cellar and boardroom.

There will also be outdoor gardens, which include barbecue areas, outdoor seating and lush landscaping.

It is on a 2829sq m site, neighbouring Brookfield’s most recent residential projects — Gallery House One and Two — which have more than $238 million in sales since launch.

Mr Butterworth said most apartments would have river views.

“Traditionally, our buyers have predominantly come from within a 10km radius of Portside, although we have also attracted those from across Australia, and we expect our latest stage to follow in those footsteps,” he said.

“We expect it will draw significant interest from empty-nesters looking to right-size in a premium lifestyle location right through to young professionals who want a home that delivers the perfect work-life balance.”