Brookfield Residential Properties will launch the next stage of the $1.3 billion Portside Wharf community on the Brisbane River in Hamilton, after receiving development approval for a new $141 million premium residential building from Economic Development Queensland.

Located within the Portside East precinct, the new building will be the ninth developed at Portside by Brookfield Residential Properties, which has already delivered over 850 luxury riverside apartments within the vibrant dining and shopping precinct.

The 19-level building will enjoy 50m of absolute Brisbane riverfront, the last of its kind in Northshore Hamilton, with all future riverfront developments required to have a greater setback from the river.

The development will feature 150 one, two, three and four bedroom apartments, sub-penthouses and two ultra-opulent penthouses, with commanding 270 degree views.

The building will showcase exclusive resort-style sanctuaries for the ultimate in entertaining and relaxation, boasting an infinity-edge pool with views across the Brisbane River to the CBD, a private function room with kitchen and bar for more intimate gatherings, a resident’s lounge, wine cellar and boardroom.

Residents can also unwind in the outdoor gardens, which include barbeque areas, outdoor seating and lush landscaping.

Brookfield Residential Properties managing director, Lee Butterworth, said the developer was confident in the strength of the Brisbane market and was working toward launching the new apartments later this year.

"Now we officially have the green light from the planning authority, we are looking forward to moving ahead with our plans, including making preparations for construction, to deliver the high-quality finish our buyers have come to expect," he says.

Portside is the first stage of one of Brisbane's largest urban renewal projects, the $5 billion Northshore Hamilton Priority Development Area, which on completion will extend approximately 2.5 kilometres along the Brisbane River to the Gateway Bridge and occupy a total of 304 hectares.

Image: Supplied