Construction commences on Brookfield's Gallery House
Construction has begun of Gallery House One, a $140 million tower in the $5 billion Northshore Hamilton riverfront precinct near Brisbane.
The investment by Brookfield Residential Properties' has tipped over $830 million.
Galley House One sales have reached over $100 million, with 80 percent of the 20 level tower sold.
The tower comprises one, two, three and four bedroom apartments. Remaining apartments in the building start from $419,000, with two penthouses still available starting from $2,295,000.
A residents-only rooftop crowns Gallery House One and is complete with a 20 metre infinity pool, lounge and barbecue area.
The project's second and final tower, known as Gallery House Two (below), comes to the market with $34 million in sales from registered buyers.
Brookfield Residential Properties general manager Lee Butterworth said the success of the project proved that quality, riverfront property was in high demand in Brisbane.
"Gallery House has been a stand-out performer in the Brisbane apartment market, quickly gaining a reputation for luxury, riverfront living that offers city conveniences in a tranquil setting," he said.
"Turning the sod on Gallery House One is a major milestone - made all the more significant by the fact we have simultaneously successfully launched the second phase of the project, Gallery House Two.
"We have partnered with Multiplex to build these apartments to the highest standard and are looking forward to delivering our buyers their dream home."
Brookfield Residential Properties is the most active developer in the Northshore Hamilton precinct, having already delivered six apartment buildings as part of its neighbouring Portside Wharf retail and residential community.
Butterworth said the company's footprint in Northshore Hamilton would ultimately total $1.3 billion - making up a fifth of the entire $5 billion urban renewal project - the largest of its kind in Queensland.
"Brookfield recognised the potential of the Hamilton riverfront early and moved to control up to six hectares of unused State land that we have transformed from a disused industrial area into a thriving waterfront community," he said.
"Our Portside Wharf development was the catalyst for the rejuvenation of Northshore Hamilton and a transformative project for the entire suburb.
"Gallery House will continue this legacy, ensuring the Hamilton riverfront builds on its reputation of offering some of the best living opportunities in Queensland."
For more information on Gallery House click here.