A lo­cal fam­ily has se­cured the first post-launch sale at The Res­i­dences lo­cated within 130-yearold Yungaba House on the river­front at Kan­ga­roo Point.

The young fam­ily, who wish to re­main anony­mous, from neigh­bour­ing Bulimba, paid $3.6 mil­lion for four-level Res­i­dence Five, one of the flag­ship homes of the 10-home project.

Frasers Prop­erty gen­eral man­ager Res­i­den­tial Queens­land Cameron Leg­gatt said The Res­i­dences had at­tracted a sig­nif­i­cant level of in­quiry since its launch.

“There has been a tremen­dous amount of in­ter­est in The Res­i­dences thanks to its sta­tus as one of Bris­bane’s most unique res­i­den­tial of­fer­ings,” Mr Leg­gatt said. “This is river­front el­e­gance at its finest with the op­por­tu­nity to se­cure a mod­ern and lux­u­ri­ous life­style wrapped in a care­fully re­stored his­toric shell.

“The fact that this is lo­cated on an east­fac­ing river­front site only 800m to the CBD un­der­lines the ex­cep­tional and un­re­peat­able value propo­si­tion that is The Res­i­dences.”

Span­ning four lev­els, the sold three­bed­room apart­ment has its own tur­ret, stun­ning CBD and Story Bridge views and ex­pan­sive base­ment level. It is the sec­ond most ex­pen­sive apart­ment in The Res­i­dences, topped by Res­i­dence Six at $4.25 mil­lion.

Lux­ury mar­ket spe­cial­ist Sher­rie Storor, of McGrath New Farm, said pres­tige wa­ter­front prop­er­ties in Kan­ga­roo Point were highly sought-after and tightly held. Ms Storor said The Res­i­dences’ her­itage as­pects, mod­ern in­te­ri­ors and amaz­ing lo­ca­tion had de­liv­ered an ex­cep­tion­ally rare of­fer­ing. “The sup­ply of new high-end apart­ments and homes is ex­tremely limited, par­tic­u­larly on the river­front, which serves to increase their value when they do enter this al­ready tight mar­ket­place,” she said.

“There are not that many three-bed­room res­i­dences be­ing built, yet there’s strong in­ter­est in this style of prop­erty from emp­tynesters or fam­i­lies who want to down­size in the sub­urbs and get closer to the CBD.”

A young fam­ily has paid $3.6 mil­lion for the first flag­ship home in The Res­i­dences within the old Yungaba House at Kan­ga­roo Point.

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