Property pioneers Mirvac have received approval to launch its planned $1 billion Waterfront Newstead in Brisbane. Set to start at the beginning of 2021, the next stage of the transformative project, which is located alongside the Brisbane River in Newstead, has been designed as a park within a park; drawing greenery from neighbouring Waterfront Park up its facade and across lush landscaped balconies.
The highly sought-after and award-winning Mirvac Design Team are the brains behind this 25-level building, and it is set to feature 143 one, two, three- and four-bedroom apartments, exclusively designed for owner-occupiers to embrace both Brisbane River views and the city’s sub-tropical climate.
Located at 57 Skyring Terrace in Newstead, it will also include a suite of élite resident lifestyle amenities, retail and a ground-level tropical oasis featuring pools of water, shaded enclaves and grassed areas.
Work is anticipated to commence on site in the coming months on a new Waterfront sales and display suite, on the corner of Cunningham Street and Skyring Terrace, in preparation for the project’s launch.
Mirvac Head of Residential Stuart Penklis said the developer had proactively engaged with both the community and Council on the design prior to lodging the development application, which was in keeping with the Newstead and Teneriffe Waterfront Neighbourhood Plan.
“We are thrilled to now have approval to bring this exciting vision to life,” he said. “Our focus has been on creating a building that will become a true landmark of the Brisbane City skyline and a lifestyle destination that does full justice to its prominent location, on the Brisbane River, with an array of amenities at the doorstep and just two kilometres from the CBD. In speaking to the community prior to developing our design, we understand just how important Waterfront Park is to residents of this area and are excited to be expanding, and improving, this green space as part of the development, with over 50 per cent of our 5,552sqm site dedicated to open space.”
Mirvac started developing its vision for the Waterfront Newstead masterplan in 2001 and has since delivered the first three stages – Pier, Park and Unison, with development approval in place for another future stage, the Shore Precinct.
Mr Penklis said Mirvac was planning to push the button on the Sky Precinct as the next stage, due to strong interest from potential purchasers and the opportunity to deliver the expanded green open space to the local community as soon as possible.