A prominent property developer is set to redefine luxury living in Hamilton, one of Brisbane’s most exclusive suburbs.
Zheng Zhang has submitted ambitious plans to Brisbane City Council for two neighbouring properties on Windermere Road, which he acquired in 2022 for a combined sum of $10.4 million.
Zhang’s vision involves a comprehensive redevelopment of the sites. He intends to demolish the dwelling on the smaller 908 sq m block at 76A Windermere Road and construct a brand-new luxury residence designed by renowned architect Joe Adsett. This new home, complete with a championship tennis court, will then be offered for sale.
A portion of the adjoining 2,641 sq m property at 76 Windermere Road, which boasts a stunning Queenslander-style home, will be incorporated into the smaller block to facilitate this project. This will provide ample space for the new development and enhance its appeal. The Queenslander will be renovated and become Zhang’s private residence.
Damon Warat, principal of Ray White Ascot, will manage the sale of the newly constructed home at 76A Windermere Road. Warat recently brokered the record-breaking sale of 32 Sutherland Avenue in Ascot. Warat anticipates strong interest in the property, citing the exclusivity of Windermere Road and Joe Adsett’s unique design. He believes the project will be well-received, particularly given the current market conditions in Brisbane.
According to Warat, Brisbane’s prestige property market is undergoing significant growth while construction costs remain high and development applications are declining. This has created a scarcity of new luxury homes in the city, making projects like Zhang’s particularly desirable.
Comparable properties in Brisbane are currently fetching around $15 million, suggesting that the new Windermere Road residence could command a similar price.
Published Date 10-December-2024