Brookfield brings forward Rivello, Hamilton construction start after quick 80% apartment sales success
Construction of Brookfield Residential Properties’ Rivello apartment tower in Hamilton on the Brisbane River will start in October.
The commencement is six months earlier than scheduled after $118m in sales were secured within weeks of the development’s August launch.
More than 80 per cent of the 150 one, two and three-bedroom apartments, sub-penthouses and penthouses in Rivello have been sold off-the-plan.
The sales include two penthouses at $5.5 million each at the 15 Wharf Street, Hamilton project.
Urban reported on its launch that it had been the higher end apartments in the $147 million, 21-level building designed by Cottee Parker Architects which had been among the first to sell.
Brookfield Residential Properties’ managing director Lee Butterworth told the Courier Mail it was "a significant achievement to reach this sales milestone so quickly."
"It is a credit to the lifestyle-centred design and desirable Brisbane River position, together with the exceptional demand in the market.”
Two bedroom apartments were priced from $605,000.
Completion is now scheduled in late 2023 with Brookfield noting the availability of building supplies had been factored into the development program by the Tomkins Commercial and Industrial Builders.
Rivello is the ninth building to be developed at Portside by Brookfield.
The new building will be developed on a 2,829 sqm site, neighbouring Brookfield Residential Properties’ most recent residential projects – Gallery House One and Two.