Consolidated Plans 25-Storey Riverside Tower at Newstead

Consolidated Properties Group will build 247 homes along the Brisbane River at Newstead under plans filed just months after the developer acquiring the site from Mirvac.

The plans now before the Brisbane City Council comprise a 25-storey tower and four-storey riverfront building for the site at 47 Skyring Terrace, about 3.5km north of the city centre.

The property group paid $64.5 million for the 9368sq m in July, drafted plans for the luxury development with Woods Bagot and signed Hutchinson Builders for the construction work.

Proposed are 235 apartments in the tower and 12 ultra-luxury residences in the smaller building. Work on the project is expected to begin next year.

The development is part of Consolidated’s riverfront collection that also includes Monarch Residences at Toowong and a 25-storey luxury development at Yeerongpilly.

▲ Rendering of the Woods Bagot-designed scheme at Newstead.

Consolidated chief executive Don O’Rorke said the Newstead project design drew inspiration from the great classical buildings of Brisbane.

“I’ve spent the past 10 years in our office looking next door to Customs House and thinking, imagine if we could build something like that,” O’Rorke said.

“We want this building to be considered one of Brisbane’s best in 100 years. I want my great, great grandchildren to be proud to say that we built this.”

Next door, Kokoda Property settled on its Teneriffe Banks site in early September as it began work on its $1.5-billion luxury residential development of four buildings.

The project secured $285 million in off-the-plan sales on the day of launch, setting a state sales record.

The development comprises 200 apartments, a five-star Kimpton Hotel, rooftop health club, laneways lined with double-storey restaurants and a marina.