Hamilton: The 'old money' Brisbane suburb that is benefiting from a new facelift

Gianni Greghini was one of the first restaurateurs to establish an eatery in Hamilton’s Portside Wharf, opening the doors to Gusto da Gianni in 2007.

His confidence in the precinct was confirmed last month when he completed a major facelift of his popular Italian restaurant and signed a new 10-year lease.

Greghini, who also has a half-shareholding in the neighbouring Belvedere Bar & Grill, was lured away from his CBD restaurant Gianni’s to Portside Wharf by Multiplex, the developers behind the $750 million international cruise terminal which opened in 2006 to accommodate ocean liners and super yachts from around the world.

Incorporating upscale residential and retail offerings including restaurants, shops, a supermarket and a Dendy cinema complex, Portside enjoys patronage from tourists who arrive by ship and an increasingly eclectic mix of locals.

Downsizer delight

“A lot of my regulars are coming to the restaurant and they are people with big homes whose kids have moved out, and they tell me they are coming down to Hamilton to live,” says Greghini.

“They can see the growth and that it’s a good location, close to both the city and the airport, and with very good plans for the future here along the river all the way down to the national park.”

Work is under way on almost $11 million worth of road upgrades that will make Portside more accessible and Greghini says a new park is also under construction.

“It will become a very liveable precinct, even more cosmopolitan,” he says. “What I like about coming to work in Hamilton is that you’re not a small fish in a big pond [like in the city]. You can be a bigger fish in a smaller pond, and I really enjoy that. We’ve got the best position in Portside with front row river views.”

Old and new money

Hamilton has long been known as an “old-wealth” suburb but with the influx of upmarket apartment developments and an increase in buyers from Sydney and Melbourne there is change afoot.

“Hamilton has some of the most expensive and best homes with phenomenal views of the river and the city and some quite substantial landholdings,” says McGrath New Farm agent Drew Davies. “It suits a lot of executives who travel a lot, high level business folk, plus specialist doctors and surgeons. But we are seeing a younger demographic move into the area, driven by buyers coming from the southern states.”

Davies says Portside has been a boon for the suburb, providing a welcome wining and dining scene as well as hosting street markets and cinemas.

For Greghini, who also has two restaurants in nearby Newstead, Hamilton is worthy of investment.

“I can’t see myself going anywhere else,” he says.

Top home in the area

With 45 metres of river frontage and mesmerising views of the river and city skyline, this elegant home comes complete with an internal lift, a salt-water infinity pool and two separate barbecue areas.

Four of the five bedrooms have en suites and the master includes a reading room with river views.

The five-bedroom, five-bathroom listing is with McGrath New Farm and has a guide of more than $6 million.