A $350 million luxury apartment tower has broken ground in one of Brisbane’s most exclusive waterfront precincts, where development opportunities have become increasingly rare.
Construction has started on the first tower of the $800m multistage Duet Portside development in Brisbane’s inner eastern suburbs.
Builder 5Point will deliver $350m 25-level Duet Porta on the 7500 sqm site at 11–23 MacArthur Ave, Northshore Hamilton.
Duet Porta forms the first stage of Red & Co’s broader two-tower Duet Portside development within the tightly held Portside precinct where opportunities for new development remain limited.
The tower features a collection of 200 premium residences, offering a mix of one, two, and three-bedroom apartments, including two-bedroom plus multipurpose room and three-bedroom plus multipurpose room configurations, supported by extensive wellness amenities.
Apartments at Duet Porta are priced from $1.045m and are targeted towards first home buyers, local downsizers and owner-occupiers with investors also expected to buy in.
Red & Co director and co-founder Keiran Foster said the start of construction at Duet Porta was a significant milestone for the project, which reflects their confidence in the Brisbane market, particularly for premium apartments in prime inner-city locations.
“The appointment of builder 5Point to deliver Duet Porta provides an important layer of certainty in the current construction environment, with completion scheduled for the second quarter of 2028,” he said.
“Northshore Hamilton’s Portside is one of Brisbane’s most established lifestyle-rich precincts, and opportunities to deliver new premium apartments in this location are increasingly limited.
“Our focus has been on delivering design-led luxury apartments that respond to the riverfront setting, supported by extensive wellness amenities, while meeting the expectations of owner-occupiers seeking quality, space and long-term value.”
A key design priority for Duet Porta are the wellness amenities on the rooftop level featuring a 25m swimming pool, leisure BBQ and dining spaces overlooking the Brisbane River and the city skyline, complemented by a gymnasium with sauna and residents’ lounge on level six.
Red & Co has delivered apartments and townhouses across 26 residential projects throughout Brisbane over the past 10 plus years.
Luxury apartment marketing specialist TOTAL Property Group managing director Adrian Parsons said the start of construction was a key driver of buyer confidence, particularly in the current cycle, where delivery certainty is a major consideration.
“Brisbane’s residential market has recorded sustained growth, underpinned by strong population increases, relative affordability and continued infrastructure investment,” he said.
“We’re seeing a clear shift towards apartment living, particularly from downsizers and owner-occupiers seeking high-quality residences in established, amenity-rich innercity locations, with Duet Porta designed to align with that demand.
“Compared to southern markets, Brisbane continues to offer compelling value, which is driving increased interest from interstate buyers, particularly from Sydney and Melbourne, especially in the lead up to the 2032 Olympic Games.
Originally Published in The Courier Mail by Property Journalist, Chris Herde. View article online HERE.