Never-lived-in Brisbane sub-penthouse could break suburb record

A brand-new riverfront sub-penthouse with sublime views and exceptional amenities was originally bought off the plan, but was never occupied and is now for sale again.

The home features exquisite communal amenities and is on the market in its suburb’s first riverfront development in over a decade.

The blue ribbon locale of St Lucia, around 5km southwest of the CBD, is home to the historic University of Queensland, its residential colleagues and Indooroopilly Golf Club, and is bordered on three sides by the snaking Brisbane River.

Rising elegantly from its banks, the sky-high urban haven at 1202/160 Macquarie Street covers  246m2 and boasts four bedrooms, 3.5 bathrooms and three car spaces, and offers sweeping views across the university and river to West End and the city skyline beyond.

The building was developed by QM Properties, designed by architects Rothelowman and constructed by McNab builders. The vendor originally bought the property off the plan three years ago but didn’t want to wait for completion so snapped up somewhere else in the suburb, said agent Simon Wheelans at Place.

While agents in Queensland are unable to offer guide prices, three-bedroom apartments in the 34-residence development were offered off-plan from $6 million in 2021.

Last month, the property’s neighbouring sub-penthouse, which also has four bedrooms, sold for $6.29 million.

This record smashed the previous suburb record of $4.8 million, set in 2020 by 2/32 Austral Street – a three-bedroom apartment also overlooking the river.

Whether 1202/160 Macquarie Street can achieve a similar price is unclear; Mr Wheelans said its three weeks on the market have been quiet due to limited numbers of buyers in the price bracket.

“The price range is a little bit tough at the moment,” he said.

Mr Wheelans said the property had plenty of star features.

“It faces north, it has floor-to-ceiling glass walls with views of the city and the Brisbane River, and the building is less than two months old – it’s beautiful.”

Additional features include engineered timber flooring, a master with spacious walk-in robe and ensuite with freestanding bath, Quartzite natural stone kitchen with butler’s pantry, 34mq covered alfresco terrace featuring an all-weather outdoor kitchen with wine fridge and BeefEater BBQ, and a fourth bedroom with corner views ideal as a home office.

When it comes to communal amenities, there are rooftop indoor/outdoor function and party spaces that include an indoor formal dining room and an outdoor bar and lounge space – both with their own cooking facilities and show-stopping views.

There’s also a swimming pool with an infinity edge facing the Brisbane River, a riverfront bar ledge, a gym and media room.

The suburb was named by William Alexander Wilson, who was originally from the West Indies island of St Lucia and established a sugar plantation here in the 1880s.

Today, St Lucia offers bike and walking paths along the river plus easy access to shopping precincts, boutique stores and a vibrant selection of exotic dining options.

Strong population growth has boosted demand in Brisbane in recent years, including at the high-end.

The Queensland capital saw property prices rise 12.5% in the year to October to a median of $862,000, and a monthly growth of 0.2% in October, according to PropTrack.

The price for houses in St Lucia has soared 25.7% over the previous 12 months to a median of $2.05 million; apartments 13.9% to a median of $657,000.

1202/160 Macquarie Street is being offered by private sale.

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