DA submitted for new precinct to create vibrant inner-city destination in the heart of Newstead

27 March 2024

A project that will change the landscape of Brisbane’s inner city has hit the market, with plans for a three-tower development, offering over 1,000 apartments and variety of retail outlets (such as cafes, restaurants, wellbeing, health and beauty) in Brisbane’s most dynamic and sought after inner residential suburb.

With ’The Newstead Collective’ development application to Brisbane City Council now lodged, Colliers Queensland agents Troy Linnane and James Matley together with National Director, Capital Markets Residential Robert Papaleo have been exclusively appointed to launch an international expression of interest campaign for this significant residential development opportunity in the heart of Newstead.

The site has an approximate total site area of 7,440 sqm with frontages to Longland, Stratton and Kyabra streets. On completion it will become a new residential and lifestyle precinct, adjacent to Gasworks Plaza, providing a variety of options for the escalating number of people looking to live and socialise in Brisbane’s sought after Newstead precinct. Similar scale inner city development sites have transacted for over $100 million.

Colliers Queensland Residential Director Troy Linnane said the development concept relates to a master planned staged, three-(3) tower project providing 1,001 apartments and 2,713 sqm of ground floor retail uses.

“Positioned in an unrivalled location, ‘The Newstead Collective’ is a stone’s throw away from the Brisbane River and iconic destinations like James Street and Howard Smith Wharves, offering a variety of entertainment and lifestyle options that will complement the lifestyle aspirations of its future residents,” Troy Linnane said.

“The apartment typologies vary to include studio, one, two and three bedroom apartment options. The site is poised for a transformative and iconic multi-staged project, suitable for build to rent, build to sell or mixed-tenure as we are seeing emerge in Sydney and Melbourne.

“Based on historical demand and current supply, inner Brisbane will experience a shortfall of approximately 14,000 new apartments over the next four years, which highlights the chronic housing crisis in Brisbane,” Troy Linnane added.

Colliers Queensland Residential Executive James Matley said this is the last residential development opportunity of scale within the heart of Newstead, that will provide much needed housing for both owner occupiers and renters in this precinct.

“Due to the strong population growth and the lack of housing supply, with a current vacancy rate of 1.0%, we will continue to see price and rental growth in the Brisbane apartment market for the foreseeable future.

“This development offers an inspired design that creates a thriving urban community around a piazza where residents can live, shop, dine, and relax in Brisbane’s most desirable inner city suburb.

“The average sale price for new apartments in inner Brisbane is $1,726,500, which is the highest on record for new apartments. Price and rent increases are expected to continue given the groing demand – supply imbalance,” James Matley added.

Situated in the heart of Brisbane’s best apartment neighbourhood and most sought after inner city suburb, Newstead Collective offers unmatched amenity being in walking distance to James Street precinct, the Fortitude Valley entertainment precinct, 3km from the CBD, and 15 minutes drive from Brisbane Airports.

The project has been designed by Brisbane based, award winning architects Bureau Proberts, with the development application now lodged with Brisbane City Council for assessment.

This exclusive listing incorporating the contiguous sites of 75 Longland Street, 11, 13 and 23 Stratton Street with 22 and 24 Kyabra Street in Newstead, is offered for sale via an exclusive International Expressions of Interest campaign closing on the 1st of May 2024 at 4pm (AEST).