Owner-occupiers have accounted for some 70% of sales in the Watermarque building in Australand’s $500 million Hamilton Reach project.
Comprising of 78 apartments, the Watermarque building has achieved more than $50 million in sales.
“These buyers [owner occupiers] are looking to spend between $500,000 and $1.5 million on their next home as they downsize from the larger family home while keeping money in their back pocket,” says Australand’s general manager of Queensland residential division Cameron Leggatt.
“They want to move to places that will enhance their lifestyle, with amenities, security and central locations a high priority.
“Typically, they are looking for two and three-bedroom options, in low to medium-rise developments, with generous, well-designed living spaces.
“The buyer profile that has emerged at Watermarque demonstrates that the considered designs of the two and three-bedroom apartment options at Hamilton Reach have hit the mark with owner occupiers looking for larger living spaces,” says Leggatt.
Construction is now complete on the two five-level buildings with three two-bedroom apartments remaining, priced from $635,000 to $710,000.
The Hamilton Reach development is located six kilometres from the Brisbane CBD in north shore Hamilton and is bordered by 530 metres of river frontage and 2.5 hectares of Northshore Riverside Park.
Property Observer first reported on the Watermarque building in November 2011, after it came to the market in April 2011.