Newstead DA approved development site hits the market

AN exciting DA approved boutique residential scheme just 2.5km* from the CBD in one of Brisbane’s most exciting lifestyle precincts has hit the market at 14 Maud Street in Newstead.

The asset offers a prominent 1,821sq m* site with 30-metre* street frontage and has a mixed-use (centre frame) zoning under Brisbane City Council. The property is being marketed for sale by Ray White Commercial Qld Director and Head of Sales Tom Barr.

“This is an exceptional opportunity to purchase a residential development site which is DA approved for a striking nine-storey residential tower providing 52 apartments,” Mr Barr said.

“The development stylishly integrates an existing 1,012sq m* heritage commercial/retail building (the former Federal Boot Factory) and the design provides a unique juxtaposition of the old and the new.

“The location will benefit from the new Newstead North Neighbourhood Plan which focuses on promoting economic development in the area by encouraging low impact and creative industries and allowing for targeted mixed-use growth.

“The site is also set to benefit enormously from several significant new major projects and public infrastructure, with the recently-completed Mercedes-Benz Lifestyle Precinct and upcoming completions of Kingsford Smith Drive Upgrade Project and Breakfast Creek Green Bridge.

“The offering provides an excellent opportunity to capitalize on a market with diminishing forecast unit supply and sat in one of Brisbane’s most exciting precincts underpinned by strong fundamentals and demographics.

“Newstead is a rejuvenated area surrounded by some of Brisbane’s most affluent suburbs in Hamilton, Teneriffe, and New Farm and is bordered by the Brisbane River.

“Upmarket boutique two and three-bedroom residential apartments in this area have great appeal to a number of demographic cohorts – in particular, the young professional and downsizer markets.”

*Approximately.