TWO riverfront homes in one of Brisbane’s most luxurious apartment complexes have sold for almost $10 million combined.
The sales are rare given the ‘Pier’ development in Newstead is so tightly held because of its location, amenities and luxurious inclusions.
The house-sized property at 1011/1 Newstead Terrace is the largest of the courtyard apartments in the complex, spanning a huge 463 sqm.
It has sold for a cool $4 million, but that’s a loss on the previous sale, which records show was $4.025 million in 2017.
Selling agent Sharon Campbell of Enclave Property Group said the buyer was a local family who planned to live in the property.
“More than ever apartment living is becoming the norm for families,” Ms Campbell said.
“There’s so much activity now that the backyard is slowly becoming not as used as it was previously.”
The huge apartment has four bedrooms and three bathrooms, along with a large entertaining terrace, home office and powder room.
There’s even room for the extended family, guests or tenants in the additional one-bedroom, self-contained apartment.
It has direct gated access to the building’s 25m heated pool and recreation area.
In the same building, another apartment at 852/1 Newstead Terrace has sold for $3.45 million.
Records show the unit was formerly owned by the managing director of Brisbane Glass, Mike Sweep and last sold in 2014 for $2.7925 million.
The 262 sqm apartment has three bedrooms and two bathrooms, along with two separate living areas, including a family room and study, and a huge outdoor terrace.
The property was marketed by Matt Lancashire and Patrick Goldsworthy of Ray White – New Farm.
Ms Campbell said there were hardly any resales of apartments in the ‘Pier’ building.
She said the local market had been softer this spring, with fewer listings.
“Sellers are holding back and buyers are not jumping into properties,” she said.