Mirvac Looks To Offload Newstead Riverpark Site

Publicly-listed developer

Mirvac

has appointed

CapLand Real Estate Advisors

to sell a mixed-use development site in Brisbane’s Newstead Riverpark.

The 5,882sqm site is zoned Multi Purpose 2 (MP2) which provides the potential to develop up to 26,000sqm of Gross Floor Area over 25 levels in multiple stages.

The site is adjacent to FKP’s Gasworks development which will comprise a new Woolworths shopping centre, fresh food market, restaurants, cafes and apartments. Completion is scheduled for 2013. It is also adjacent to Mirvac’s ‘Waterfront’ development which was completed in 2011.

Apartments in the development averaged $3 million with the penthouse sold for over $14 million.

According to Capland, over $75 million spent on nearby parklands and public infrastructure.

James Walsh and Jeff Dolan are the appointed agents with Offers to Purchase closing 12 April 2012.