Newstead development to tower over Gasworks

Plans for a third and final tower in Mirvac’s “Sky Precinct” at Newstead have been submitted for council approval.

Standing at 105.2 metres, the 31-storey tower would house 138 units. Eighty-five of those would have two bedrooms, 42 would have three, 10 would have four-plus and there would be a solitary one-bedroom unit.

Mirvac has lodged a development application to build a 31-storey, 138-unit tower at Newstead.Credit: Mirvac

The tower, part of Mirvac’s $1 billion Waterfront Newstead project, would be the third and final building in Mirvac’s Sky Precinct, across Skyring Terrace from the Newstead Gasworks.

The precinct, about three kilometres from Brisbane’s CBD, has been progressively developed over the past two decades, from an unused and dilapidated industrial area to a sought-after address.

Mirvac Queensland residential general manager Warwick Bible said the as-yet unnamed tower would add much-needed stock to the undersupplied Brisbane market.

“The Queensland government’s population projections indicate the city will continue to grow by more than 14,000 people each year, with about a third of those to reside in Brisbane’s inner suburbs, making new projects such as this one essential to keeping pace,” he said.

Mirvac’s Sky Precinct at Newstead, Brisbane. The Gasworks is seen at the bottom of the image.Credit: Mirvac

“We’ve worked hard to deliver a mix of apartments at Waterfront Newstead to suit a diverse array of residents, from luxury apartments to our build to rent project, where 25 per cent of apartments will be key worker affordable housing, offered at a discount to market rent.”

The development would have 244 car parks, including 21 for visitors, and 709 square metres of retail at ground level.

“Our vision has always been to create a precinct that acts as a visual gateway to the Teneriffe and New Farm peninsula,” Bible said.

“The Civic Square delivered as a part of this proposal on the corner of Cunningham Street and Skyring Terrace will serve as entrance into the precinct from the west, while connecting Gasworks’ retail and Waterfront Park.”

Work on the Sky Precinct started four years ago, with Mirvac’s application to build stage one – Quay – on the site. A second tower, Isle, was still under construction.

Last month, Panettiere Developments submitted plans for three towers of between 29 and 33 storeys for its “Little Italy” development nearby at the corner of Longland and Stratton streets, next to the Triffid live music venue.

Mirvac’s build-to-rent LIV Anura development, which will add 396 units to the rental market, under construction just across the road from the Sky Precinct.

It has been more than a decade since the Gasworks retail, dining and entertainment precinct opened in 2013, heralding a transformation of the suburb.