The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
25 DAYS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
25 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherRenee McKeownThu 07 Apr 22

Mirvac’s Next Newstead Tower Wins Approval

Mirvac is unveiling the latest plans for its $1 billion community on Brisbane River, another 25 storey apartment tower called Isle on 57 Skyring Terrace, Newstead.

Mirvac has unveiled the latest plans for its $1-billion community on Brisbane River, adding another 25-storey apartment tower.

The Isle tower, with 135 apartments and ground floor retail, has won approval from the Brisbane City Council, the latest stage of the precinct, at57 Skyring Terrace, Newstead.

The approval follows Mirvac’s under-construction Quay tower, next door on the same site, which sold out 136 apartments within seven months, for $197 million. 

The latest tower for the precinct, created by the Mirvac Design team, features a lap pool on the roof, infrared and magnesium spas, dining room and cocktail bar along with “urban forest” landscaping.

The Isle plans include three- and four-bedroom pavilions as well as four-bedroom penthouses that will each span half a floor.

The 4295sq m site was part of the Newstead Riverpark urban renewal area surrounding the Gasworks, which had undergone significant redevelopment in the past 10 years.

Three images, one of a 25 storey apartment tower in Newstead Brisbane with a black exterior next to a park. The others are aerials of the suburb, one shows development sites in 2011 largely empty, the 2021 images show a high density area next to the Brisbane River.
▲ Mirvac's latest plans for Newstead and the rapid development of the area between 2011 and 2021, as seen in Nearmap imagery.

The masterplan vision for the 16ha area was created in 2001. Mirvac moved forward with early plans for its sites in 2006 and a neighborhood plan was adopted in 2011, sparking rapid development in the area.

Mirvac head of residential Stuart Penklis said they planned to launch the Isle in the middle of this year.

“We have launched nine major apartment projects in the past 12 months, including Isle Waterfront Newstead,” Penklis said.

“We are seeing a rise in demand for premium, well-located, larger and higher specification apartments from owner-occupiers, which is what Isle will respond to, with everything from one-bedroom apartments to four-bedroom penthouses.”

Apartment prices in Brisbane have increased 15.1 per cent in the past year, according to Corelogic, and recorded the fastest gains in the country last month at 1.6 per cent.

This came as vacancy rates hit an extremly tight 0.7 per cent for the month and 1.5 per cent in the inner city.

ResidentialBrisbaneAustraliaPlanningPlanningSector
AUTHOR
Renee McKeown
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
View All >
ESR building ESR completes delisting
Industrial

ESR Reveals New Team After Hong Kong Delisting

Leon Della Bosca
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
The city with Australia’s highest parking rates, and cheapest public transport fares, is also proving our best performin…
LATEST
ESR building ESR completes delisting
Industrial

ESR Reveals New Team After Hong Kong Delisting

Leon Della Bosca
3 Min
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
2 Min
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
The construction site which will one day become Newcastle Tallest Tower by Urban Property Group
Residential

Urban Property Group Reveals Newcastle Tallest Tower Plan

Renee McKeown
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/mirvacs-next-newstead-tower-wins-approval