Colliers International, Singapore

International property consultant, Colliers International, has been appointed as the marketing agent in Singapore and Hong Kong for Promenade Hamilton Apartments, a freehold premium waterfront development located in Portside Wharf at Hamilton, Brisbane.   

The exhibition will be held from September 19-21, 2008, at Hilton Singapore. 

Due for completion in Year 2010, Promenade Hamilton Apartments comprises a total of 156 one-, two- and three-bedroom apartments spread over 15 levels, with floor areas ranging from approximately 690 sq ft to 1,776 sq ft. All units are equipped with environmentally sustainable features including water-efficient initiatives such as AAA-rated taps and toilets, and energy management initiatives such as the achievement of a 3.5-star NatHERS rating, amongst others. Many of the units enjoy river or district views, and prices range from A$399,000 (S$460,711) to A$1.65 million (S$1.91 million). 

Promenade Hamilton Apartments is the fourth residential building (Stage 2 residential development) in Portside Wharf, a master-planned mixed-use urban waterfront community in Brisbane comprising the international Brisbane Cruise Terminal, waterfront dining, as well as specialty retail and residential components. The 4.3-hectare precinct currently comprises three other premium residential buildings including Flare, Infinity and Loft, which were launched in Year 2004 (Stage 1 Residential development) and are already home to 350 residents.

Previously an industrial site used for port operations, Portside Wharf is located six kilometres north of the Brisbane central business district and on the western end of Northshore Hamilton. One of the largest urban regeneration projects in Brisbane, Northshore Hamilton will be revitalized by transforming an 80-hectare former port land to a world-class mixed-use waterfront suburb that will be home to 10,000 residents upon completion.

Mr Michael Tan, Associate Director of International Projects at Colliers International, says, “Brisbane is an attractive place to live due to its sub-tropical climate, as well as the lifestyle it offers. It is a growing city without the big city’s feel. Given the Queensland government’s master plan to re-develop the vicinity and the strong take-up rate – which saw more than 60% of the units sold within the first six weeks – during the pre-launch of Stage 1 Residential development in Portside Wharf, we are positive that Promenade Hamilton Apartments is set to attract both investors and owner-occupiers alike.

With the current low vacancy rate experienced in the vicinity due to strong demand, coupled with a tight residential supply resulting from a delay in several project launches due to rising construction costs, Promenade Hamilton Apartments provides a timely opportunity for local investors to enter the market. We expect that investors will benefit from excellent capital growth and rental returns when the development is completed. Potential yield ranges from 4.5% to 5.2%, based on current rents achieved for apartments in Stage 1 Residential development.”  

Promenade Hamilton Apartments is developed by Multiplex Living, the residential development division of the Brookfield Multiplex Group, which is headquartered in Australia and well-known for its award-winning residential landmarks in cities including Australia, New Zealand, the United Arab Emirates and the United Kingdom.

About Colliers International

Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 10,092 employees span the world in 267 offices in 57 countries. On a worldwide basis, Colliers manages 672,945,918 square feet, and has revenue of $US 1,620,958,349.

Contact Information

Ms Seah Li Ching
Senior Executive, Marketing & Communications
Tel:  65 6223 2323
Direct: 65 6531 8545

Mr Michael Tan
Associate Director, International Projects
Tel: 65 6223 2323
Direct: 65 6531 8542

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