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Red & Co has secured buyers for 36 per cent of the first stage of its $800 million Duet Portside development in Hamilton as construction gets under way on the project in the sought-after inner-Brisbane riverfront precinct.
The Brisbane-based developer says strong preliminary buyer demand has locked in commitments for 71 of the 200 apartments on offer in the $350 million first stage, known as Duet Porta.
The sales, totalling more than $121.9 million, have come ahead of the project’s official market launch.
The broader twin-tower Duet Portside development is earmarked for a 7,500sqm site at 11–23 MacArthur Avenue in the tightly-held Portside precinct along the Brisbane River.
Currently under construction, the 25-level first stage is earmarked by contract builder 5Point to be completed by the second quarter of 2028.
Adrian Parsons, the managing director Duet Porta’s project marketer TOTAL Property Group, says the development has attracted strong buyer enquiry since construction began in May which has driven sales momentum.
“The 36 per cent pre-sales achieved at Duet Porta before officially launching have been extremely encouraging, particularly following the commencement of construction, with buyers responding strongly to the combination of location, lifestyle amenity, design quality and delivery certainty,” says Parsons.
“We are seeing demand from a broad range of purchasers, including first home buyers, owner-occupiers, downsizers and interstate buyers seeking premium apartments within an established riverfront precinct close to the Brisbane CBD.
“Brisbane’s apartment market continues to strengthen, particularly within tightly held riverfront locations where new premium supply remains limited, with Portside Hamilton continuing to attract strong interest from buyers seeking connectivity, amenity and long-term value.”
Duet Porta comprises 12 one-bedroom apartments, 95 two-bedroom apartments, plus 55 two-bedroom plus multi-purpose room residences, with prices starting at $1.044 million.
The first stage also offers 19 three-bedroom apartments and 19 three-bedroom plus multi-purpose room residences priced from $2.26 million.
“With construction now under way and strong presales already secured, buyer confidence in Duet Porta continues to strengthen, particularly in the current market where purchasers are placing increased importance on delivery certainty and proven developer capability,” says Red & Co director and co-founder David Laverty.
“Our focus has been on creating a design-led residential offering that responds to its riverfront setting through generous floorplans, functional layouts and extensive lifestyle and wellness amenities within an established inner-city precinct.
“Northshore Hamilton continues to evolve into one of Brisbane’s lifestyle-rich destinations; however, opportunities to secure new premium apartment sites within the Portside precinct remain increasingly limited.”
Red & Co has delivered 26 residential projects across Brisbane over the past decade, recently expanding into the Gold Coast with the Como Varsity apartment project which is also being built by 5Point.
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