Hamilton primed for growth as apartment developers jump in

Brisbane's riverside suburb of Hamilton is set to grow into the next apartment development hotspot.

Already favoured by GRAYA and Fortis for their upcoming projects, two more site transactions have taken place, firmly putting Hamilton on the map for new apartments in the short to medium term.

South East Queensland developer Frank Developments is stamping its authority on the suburb, paying $16.5 million for 60 Kingsford Smith Drive, a 1,640 sqm site directly opposite the Breakfast Creek Hotel.

It is the second site Frank Developments, led by Frank Licastro, has secured on the prominent riverfront strip. He also controls 92 Kingsford Smith Drive, where he and joint venture partner Signature Property Partners are preparing to launch Alba, a 72-apartment project comprising two, three and four-bedroom residences designed by BYCulprit.

MP Commercial said the latest transaction represents a “natural evolution” for Frank Developments as it continues to expand its presence in the area. The agency has exchanged on $53.5 million worth of prime inner-city development sites across three deals in the past fortnight, signalling sustained appetite for well-located infill opportunities despite broader market caution.

The Kingsford Smith Drive corridor has long attracted developer interest given its river frontage, proximity to the CBD and established amenity, but tightly held ownership has historically limited supply. Sites with uninterrupted views across the Brisbane River to Newstead Park and the city skyline are particularly rare, placing a premium on scalable parcels with favourable planning controls.

Also securing a new site, its first in Hamilton, is Rhett Williams’ Vector Property, the developer behind BANKSII in East Brisbane, a 72-apartment project opposite Raymond Park that it is developing alongside joint venture partner Core Property Partners.

Vector has secured a 2,325 sqm site at 12 Hercules Street, zoned mixed-use high density within a Priority Development Area, providing planning flexibility for a residential-led outcome.

Vector said the acquisition aligns with its focus on “disciplined capital deployment, downside protection, and strong risk-adjusted returns,” pointing to depth of demand and proven absorption in the inner-ring market.

The Hercules Street site is fully serviced and positioned close to established retail, dining and public transport, as well as major employment nodes including the CBD and Brisbane Airport. Hamilton’s connectivity, combined with its riverside setting and ongoing urban renewal, continues to support demand from both owner-occupiers and investors seeking proximity to lifestyle amenity.

Luxury developer GRAYA is hoping launch its Racecourse Road apartment development this year, which will add another 53 apartments to the Hamilton pipeline, while Fortis has approval for its 12-unit shoptop next door.