Luxury apartment listed in one of eight Brisbane suburbs tipped to grow in Olympics gold rush

Since the announcement of the Brisbane 2032 Olympics and Paralympic Games, the prestige apartment market in the Queensland capital has been significantly on the rise.

Place Estate Agents CEO, Damian Hackett, said the planning of major infrastructure projects is leading to confidence in the Brisbane market.

“Billions of dollars are being invested into key Brisbane areas, which is predicted to increase property values and attract long-term growth,” Mr Hackett said.

The centrepiece will be a brand new Olympic Stadium at Victoria Park while the Centenary Pool will be transformed, the Brisbane Showgrounds will get a facelift and the Queensland Tennis Centre will be upgraded.

“These infrastructure developments will enhance connectivity across Brisbane, creating prime residential opportunities that will transform the city’s real estate landscape,” Mr Hackett said.

REIQ CEO, Antonia Mercorella, said optimism about Brisbane’s role as an Olympic host city, combined with new infrastructure, will likely result in long-term growth for the real estate sector.

“It’s clear that Queensland is committed to creating a lasting Olympic and economic legacy, by bringing forward critical infrastructure which will benefit our city and state long after the games,” Ms Mercorella said.

“These transformative projects will not only support the games but also significantly enhance the liveability and connectivity of Brisbane and are likely to create long-term lifts in real estate values, especially in inner-city suburbs.”

WHERE ARE THE GROWTH GETTERS?

By analysing the placement of Olympic venues, including where key infrastructure updates will be located, Place Advisory data has determined the eight suburbs that are most likely to experience growth over the next seven-to-10 years.

These include Herston, Kelvin Grove, Spring Hill, Bowen Hills, Fortitude Valley, Woolloongabba, East Brisbane and Kangaroo Point.

“Historically, such large-scale projects drive interest and activity in surrounding areas,” Mr Hackett said.

“We’ve predicted the top suburbs that are set to benefit from the infrastructure legacy of the Brisbane 2032 Games, with lasting improvements that will positively impact the local property market for years to come.”

Kangaroo Point have been tipped for growth due to the redevelopment of the GoPrint site into a major private sector project with an indoor arena.

After the Games, the Gabba will be transformed as part of an urban renewal project that will evolve into an apartment precinct.

RARE GEM IN KANGAROO POINT

This just-listed Kangaroo Point apartment is one that is primed for Olympic-led growth.

The prestige property features three bedrooms, three bathrooms, private lift, gourmet kitchen and sweeping views across the Brisbane river, city skyline and Story Bridge.

With a spacious floorplan of 315 square-metres, the penthouse was designed by Bureau Proberts and built by Hutchinson Builders.

Art lovers will enjoy an art hanging system and bespoke ERCO lighting, which is said to be valued at over $100,000.

The listing states that this feature “sets the perfect stage for displaying your curated art collection, enhancing the residence’s elegance and creating a space where artistry can thrive.”

Located in the exclusive Thornton Residences, residents will be able to access the swimming pool, formal dining room, lounge areas, barbecue facilities and a wood-fired pizza oven.

The sale of the property is being managed by Annabelle O’Hare and Richard Willert from Place Kangaroo Point.

Ms O’Hare said one of the most significant aspects of this home is the scarcity of similar properties.

“There’s been a lot of interest, as there always will be, because properties like this are such a rarity,” she said.

Another recent high-end apartment sale included 4701/443 Queen St, Brisbane City, which sold for $9.5m in March.

The penthouse apartment featured four bedrooms, four bathrooms with sweeping views across the Botanic Gardens, the Story Bridge, Moreton Bay and Glasshouse Mountains.