Multi-million Newstead buy highlights a tight market

If there’s one thing the new owners of this Newstead apartment know, it’s that when you find what you’re looking for you need to buy it fast. This three-bedroom apartment just a stone’s throw from the Brisbane River has sold for a stunning $2.77 million, and its commanding views were a big draw.

On one side the home looks over the river, and on the other, almost like a moat, lies the lake.

McGrath Estate Agents New Farm sales agent Brett Greensill says it makes the dwelling feel like a ship – and quite a large one with 204sqm of space.

“You’ve got a commanding view of everything,” he says. “And the location is excellent, people loved that about it. The new occupant is from the Sunshine Coast and was very excited to purchase at this price.”

The complex is surrounded by parklands and walking tracks, but closer to home is resident access to the building concierge, pools, gyms, conference room and lounge.

Inside is a smorgasbord of slick, modern fittings and marble highlights. The open-plan living unites a designer kitchen filled with metallic finishings with a cosy living room overlooking the water.

“You have a feeling of quality straight away,” Brett says. “The feeling of the apartment was very modern, in excellent condition.”

Whether you’re sitting on the master bedroom’s private balcony, or the main, riverfront balcony, earthy timber accents contribute to a relaxed atmosphere as you lazily watch boats pass down the river. It’s no surprise this abode was so hotly contested.

“Apartments are in particularly strong demand right now,” Brett says. “The market is as tight as I’ve ever seen and it’s rare to see apartments available. People aren’t just buying forever homes anymore but forever apartments. They’re very concerned about securing something now.”

Address:

541/1 Newstead Terrace, Newstead, Qld 4006

Agents:

Brett Greensill
0410 506 695
Andrea Crossan
0437 498 213
McGrath Estate Agents New Farm