Luxury riverside apartment smashes suburb’s last sale record

A riverside apartment has sold for a suburb record price, proving demand for luxury units is still going strong.

A riverside luxury apartment in St Lucia has made a record sale of $6.29 million, showing a strong demand on the market for prestige units by the Brisbane River.

The unit was a three-bedroom sub-penthouse at 160 Macquarie St: a development with just 34 residences in the 14-level building.

A sub-penthouse at the luxury development 160 Macquarie is responsible for the jaw-dropping sale, beating the previous record by nearly $1.5 million.

The second-highest known sale for a unit in the suburb was a 2/32 Austral St: a three-bedroom apartment also overlooking the river, which sold for $4.8 million in 2020.

This year’s sale has gone for almost $1.5 million more, or a little over $700,000 when adjusted for inflation.

The home was sold by Julius Krippner of real estate agency Colliers. Colliers Queensland residential director Andrew Roubicek said he said the view of the Brisbane city skyline was just one of the reasons the unit sold so well.

“Record population growth experienced since 2020 has seen Brisbane’s housing market witnessing exceptional levels of demand and consequent increases in prices, which has contributed to this record sale being achieved,” he said.

No more than four properties remain available at the luxury apartment complex in St Lucia, which is now ready for homeowners to move into.

Developed by QM Properties, 160 Macquarie is the first riverfront development in St Lucia in ten years. A limited number of three-bedroom units remain available for interested buyers, valued from $2 million to a little over $6 million.

QM Properties built product development manager Glenn Rix said the complex was build to tackle a lack of boutique offerings in the Brisbane market at the time.

“There have been very few new apartment projects in recent years boasting a full house of luxury apartments to the calibre that is seen at 160 Macquarie,” he said. “People were excited to be able to buy brand new in an area where established housing had been the only option for many years, and they have embraced the opportunity to downsize and experience apartment living in such a prestige location.”

Originally published as Luxury riverside apartment smashes suburb’s last sale record