Brisbane’s record-breaker penthouse in a $10 billion development has hit the market

A Brisbane penthouse with A-list perks could break another price record.

The property at 250/1 Newstead Terrace, Newstead, sold in 2008 for the then-record of $14.25 million, and is now back on the market as part of a $10 billion new development.

It’s understood that the biggest property sale in Brisbane to-date is $17.25 million, with the sale of the six-bedroom, three-bathroom home at 673 Musgrave Road, Robertson, in March last year.

Co-listed by Sarah Hackett of Place New Farm and Matt Lancashire of Ray White New Farm, the penthouse on offer contains four bedrooms and five bathrooms.

Expressions of interest are accepted until 4pm on Tuesday May 30, unless sold prior.

Occupying one level and 1,060 square metres, the penthouse is an entertainer’s dream with its river frontage and views of Hamilton Hill, Bulimba, Teneriffe and Newstead.

A private swimming pool, sauna and outdoor kitchen will keep the buyer and their guests entertained, while the walk-in cellar will ensure there’s always enough wine on tap.

Interiors take on an open-plan layout with minimal structural columns in the living areas, and there’s also private lift access to make entering and leaving the block a breeze.

[TAG0]

It’s understood the biggest property sale in Brisbane to-date is $17.25 million, with the sale of 673 Musgrave Road, Robertson, in March 2022. Photo: Ray White Sunnybank Hills

A neutral colour palette is felt throughout the home with a limestone fireplace, marble and granite, along with polished concrete walls, floorboards and floor-to-ceiling glass.

Should the buyer be a fashionista, they will delight in the sprawling walk-in wardrobe that would make even Kim Kardashian or Sarah Jessica Parker envious.

The agents have revealed that the owners, company director Howard Stack and his wife Hilary, purchased the penthouse in just two hours back in 2008. They hosted many charity events at the property.

Newstead is a riverside suburb of Brisbane, 3km north-east of the CBD. It’s a bustling area with cafes, restaurants and nightlife.

Domain’s House Price Report for the March 2023 quarter reveals the median price for a unit in Newstead is $640,000. The median price for a Brisbane house, overall, is $805,818.

Brisbane’s market has lost heat and speed with the 0.1 per cent price decrease, considered a “flatline” result by Domain.

Four other apartments for sale in Newstead, Queensland

1007/70 Longland Street

[TAG1]

The three-bedroom, two-bathroom apartment is on offer for $1,575,000. Photo: Newstead Realty

Penthouse/14 Ella Street

[TAG2]

The four-bedroom, four-bathroom penthouse is on offer for over $3 million. Photo: Three Sixty Property Group

1402/18 Longland Street

[TAG3]

The two-bedroom, two-bathroom sub-penthouse is on offer for over $1 million. Photo: Cavale

707/20 Festival Place

[TAG4]

The two-bedroom, two-bathroom apartment is on offer for $1,180,000. Photo: Cavale

Article source: Queensland Property Investor