40 Years of Patience Pays Off as Brisbane Woman Puts Kangaroo Point Apartment Block Up For Sale

After four decades of patience and persistence, a Brisbane woman’s vision of owning an entire block of Kangaroo Point riverfront apartments was finally realised last year, when she acquired the last piece of her riverfront puzzle. Now the prime riverfront apartment block is up for sale, an extraordinary investment opportunity that’s hard to come by.

Read: Exploring the Former Kangaroo Point Residence of the Queensland Water Police

Local Christine Loman first set her sights on a prime 797-sqm parcel at 4 MacDonald Street, Kangaroo Point back in 1981, purchasing the first of six apartments at the site for $56,000.

Over the next 40 years, Loman slowly acquired the remaining units as opportunities arose, paying as much as $900,000 for the final piece of her riverfront puzzle last year. All told, Loman invested over $2.5 million to assemble the full block.

Kangaroo Point riverfront

Photo credit: domain.com.au

She was drawn to the unique peninsula-like quality of Kangaroo Point, the feeling of being on an island surrounded by the river and yet so close to the city. Although her dreams of developing the property never materialised, Loman is now poised to sell the consolidated site and pass the torch to a new custodian.

Kangaroo Point riverfront
Photo credit: domain.com.au

The rare offering at Kangaroo Point riverfront is being marketed by JLL agents Tim Jones and Harry Borger as a luxury development opportunity. 

Brisbane’s luxury apartment market continues to surge ahead, as real estate agents observe record sales prices and rates per square meter month after month.

Read: Sydney-Based Developer, Fortis, Lodges a Kangaroo Point Riverfront Apartment Tower Proposal

The timing appears ideal, as 2023 has already seen four penthouse sales over $10 million, including a New Farm record of $16.52 million. With scarcity of riverfront land increasing, Loman’s 40-year labour of love may become one of Kangaroo Point’s most exclusive addresses. Her perseverance has likely paid off handsomely.

Published 21-July-2023