Brisbane riverside estates generate sales of more than $30 million

Strong demand is being seen for riverside land in Brisbane’s south-western suburbs.

Unison Projects’ Arbour Reach residential subdivision on the Brisbane River at Sherwood and Metro Property Development’s Riverside Corinda project have enjoyed strong sales success, say selling agents Cameron Crouch and Sharon King of Ray White Sherwood.

Mr Crouch said the two developments had so far enjoyed combined sales of more than $30 million with only four lots remaining at Arbour Reach, while just six blocks are left for sale at Riverside Corinda.

Arbour Reach, a 29-lot project on a 2.5ha estate at 27 Magazine Street, Sherwood, is adjacent to the magnificent Sherwood Arboretum and is within walking distance of railway stations, the bus network, boutique stores, cafes, restaurants, schools and parklands.

“The response to Arbour Reach has been amazing with sales of more than $14 million to date,” Mr Crouch said.

“Given the project offers ready to build on, flat, vacant land in addition to its location and natural attributes, it is no surprise to see strong buyer demand for Arbour Reach.  Pricing of the vacant land on the 10 remaining blocks starts at $640,000 with six (of the 10) fronting the river and available from $995,000.”

Remaining lots at Arbour Reach range from 456 sqm to 1010 sqm. The level homes sites are elevated above the river and have street frontages of 13m to 29m.

Unison Projects’ Shannon Down said Arbour Reach was the first substantial residential project with immediate connection to the river in the area for decades and so the buyer demand was understandable.

Mr Down said despite its proximity to the river, all Arbour Reach lots have been designed above the January 2011 flood level and the site met stringent flood mitigation standards introduced by Brisbane City Council.

Ms King said the Riverside Corinda blocks on the former site of charity Montrose Access at Consort St, Corinda, were way above the Brisbane River and enjoyed spectacular river and city views.

Ten blocks with exclusive river views were sold at an on-site auction last month which attracted more than 200 people.

“Riverside land in Brisbane’s leafy south-western suburbs is in limited supply so it’s no wonder we have had such a strong response to these two projects,” Ms King said.