A DA approved development site approved for a nine-storey residential tower has hit the market in Brisbane’s Newstead.
The 1,821sqm site, located at 14 Maud Street, offers 30-metre frontage and has mixed-used zoning under the Brisbane City Council.
The site integrates a 1,012sqm heritage commercial building, formerly the Federal Boot factory.
“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,” said Ray White’s Tom Barr, who is marketing the sale.
The heritage building has potential for commercial and retail offerings or can be converted into additional apartments.
Located about 2.5 kilometres from the Brisbane CBD, the site will benefit from several new projects, including the upcoming completions of the $700 million Kingsford Smith Drive project and the Breakfast Creek Green Bridge.
“The offering provides an excellent opportunity to capitalise on a market with diminishing forecast unit supply and sat in one of Brisbane’s most exciting precincts underpinned by strong fundamentals and demographics”. Barr said.
Newstead appeals to young professional and down-sizer markets due to its close proximity to Brisbane’s affluent suburbs of Hamilton, Teneriffe, and New Farm.
Other boutique apartments located in Newstead selling now, include Kokoda Property‘s Chester & Ella and Dwell Newstead by Dibcorp.
Chester & Ella, designed by Australian architect Hayball, are two unique towers inspired by the twists and turns of the Brisbane River.
The project offers two, three and four-bedroom luxury residences.
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