Riverfront apartments in Brisbane’s prestige property market are experiencing exceptional success, with another high-value sale recently finalized. A luxurious three-bedroom apartment located in the ‘Argyle’ building on Maxwell St in New Farm was sold for an impressive $12.8 million. It’s worth noting that this apartment wasn’t even the penthouse, which sold for a record-breaking $16.52 million in 2023. However, this record was surpassed last month when the penthouse at Pier in Newstead sold for an astounding $20 million.
The majority of buyers for these properties are local residents, particularly downsizers seeking a luxurious lifestyle with all the amenities. In the case of the recent sale at 8/49 Maxwell St, the new owners discovered the property was for sale while attending a Christmas party at the unit. They immediately expressed their interest in purchasing it to Place agent Simon Caulfield.
According to Mr. Caulfield, the buyers had been closely monitoring the market and were aware of the $12.1 million sale of a neighboring property in 2023. This knowledge gave them confidence in making an early offer of $12 million for the apartment. Records indicate that the previous owner of Residence 8 was Andrew Clouston, a Brisbane pathologist, who acquired the apartment for $8.65 million in 2020.
The apartment offers multiple living and dining areas, as well as ample space for an impressive art collection, with 100 meters of hanging space available. Additionally, in Kangaroo Point, Mr. Caulfield is preparing to list one of the 13 full-floor residences in a luxurious apartment building with an asking price in the mid-$8 million range. This building, known as Thornton Residences and developed by JGL Properties, previously saw mining entrepreneur Matt Latimore purchase the penthouse for $9 million in May of last year.
The interior finishes of these apartments include oak herringbone floors and Noceto Striato natural stone. The north-facing balcony offers stunning views of the Story Bridge and is equipped with an automated dropdown bar, a champagne drawer, and a Vintec wine fridge.
Mr. Caulfield has also recently completed the sale of an apartment in the newly constructed ‘Azure’ building at 156 Oxlade Dr, New Farm, for $8.3 million. Additionally, he has put another apartment in the same building under contract for $6.4 million. He notes that there is a significant amount of movement in the market, with many individuals downsizing from houses. However, he also highlights a lack of high-quality stock available, indicating a potential opportunity for developers and investors in the luxury apartment market.
4 Comments
Wow, this apartment looks absolutely stunning! I can’t help but imagine what it would be like to live in such opulence. The attention to detail and modern design choices are truly impressive. I’m curious, though, how sustainable is this luxurious lifestyle in the long run? Can we find a balance between lavish living and being environmentally conscious?
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This luxurious apartment seems like a dream come true! I can’t help but wonder what features and amenities make it worth $13 million. Is there a rooftop pool or panoramic views of the city? I’m eager to learn more about the opulence and elegance of this extraordinary living space.
Wow, this apartment looks absolutely stunning! The sleek modern design and opulent finishes are truly impressive. I can only imagine the breathtaking views this $13 million price tag includes.
I appreciate the attention to detail in this apartment. The use of high-end materials and the incorporation of smart home technology truly make it a luxurious and convenient living space.
While the apartment looks amazing, I can’t help but wonder if spending $13 million on a single living space is justifiable. I mean, wouldn’t it be wiser to invest in other assets or experiences? What are your thoughts on this?