Record $11m for Brisbane apartment not even built yet

A Brisbane apartment that’s yet-to-be-built on the riverfront has sold for $11.05m as demand for luxury apartments in the city heats up.

A Queensland-based buyer splashed the huge sum to secure the full-floor property in boutique developer Molti’s Heirloom, a five-level project in sought-after Kangaroo Point.

It follows a string of prestige apartment sales with buyers looking for luxury, house-sized units in prime locations.

The latest sale in Heirloom, handled by Phillip Rand at Whitefox, equates to $38,501 per square metre.

“This sale sets a new record for non-penthouse apartment prices in Brisbane, and continues Kangaroo Point’s status as one of Brisbane’s most desirable prestige markets,” Mr Rand said.

“It’s unusual to see a sale of this calibre on day one of a project launch, but I think this demonstrates that buyers shopping for this product understand the importance of moving quickly.

“We have had strong interest in the project, with purchasers understanding that Heirloom is a genuine legacy property for them and their families in years to come.”

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Molti managing director Ben Teague said the sale reflected the growth and maturity of the

Brisbane luxury market and continued demand for riverfront property.

“We’re thrilled to see such strong demand for Heirloom on its first day of sales,” Mr Teague said.

“It’s a clear sign that Brisbane’s luxury market is growing and buyers are moving incredibly fast to secure riverfront property,” he said.

“What we are creating here can’t be repeated, and it is heartening to see the market agree.” Heirloom’s five full-floor apartments span 340 sqm each, and start at $9.5m.

Each residence includes four bedrooms with ensuites, two living areas, and outdoor terraces running the full length of the building.

They also feature views of the Story Bridge, CBD, and Brisbane River a well as private gallery walls for statement art, bespoke wine storage and indoor fireplaces.

“These are homes designed for longevity, with quality craftsmanship, lasting design and a

deep connection to place,” Mr Teague said.

“We know what we have created here is something people will cherish for a long time – it’s not just a property, but a legacy.”

Construction on Heirloom is set to start in 2026 with completion set for mid 2027.

PropTrack data reveals the median apartment price in Kangaroo Point is $785,000, up 12.9 per cent over 12 months.

The Heirloom sale is the highest apartment sale in Kangaroo Point outside Sorano House’s $14m penthouse, which sold off-the-plan last year.

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