Mirvac sells riverfront apartment development site
Mirvac has sold a waterfront Newstead development site off-market.
The 9368 square metre holding, 47 Skyring Terrace, found favour with Don O’Rorke’s Consolidated Properties Group for $64.5 million.
More than 200 “super premium” apartments are planned along with villas (artist’s impression, top and right).
Improvements can spread up to 42,000 sqm but buildings can’t exceed 25 levels.
A permit is expected to be applied for in September.
Woods Bagot is the designer with a plan where the apartments won’t have an aspect over a neighbouring power pole. The villas will be developed along the 47 metres of Brisbane River frontage.
If approved, Hutchinson Builders will construct it.
Rare as it gets: Don O’Rorke
Mr O Rorke said sites like 47 Skyring Tce are “as rare as it gets”.
“We thought Monarch [a development across town at Toowong, but also riverfront] might be a one-off, but at Newstead we’ve been fortunate to have the opportunity to create another iconic residential address right in the heart of the city on the Brisbane River – this will be something elevated in every sense, something truly special,” according to the executive.
The company’s head of Residential, James MacGinley, said the development will contain two and three bedroom units.
Colliers’ Brendan Hogan and Troy Linnane were the agents.
Newstead is less than two kilometres north east of town.
Earlier this week we reported Fortis bought a New Farm site –in Brisbane’s inner east too – also with plans for high-end apartments.
An investor meanwhile picked up the ex-Hamilton Motor Inn, now emergency accommodation rented to the state government, also fronting the Brisbane River.
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