Mirvac receives approval for $1 billion Waterfront Newstead community in Brisbane

Mirvac is planning the launch of the next stage of its $1 billion Waterfront Newstead community in Brisbane early next year, after receiving Development Approval for its new Sky Precinct from Brisbane City Council.

Located alongside the Brisbane River in Newstead, it has been designed as a 'park within a park'.

The 25-level building was envisioned by the award-winning Mirvac Design team and will feature 143 one, two, three and four bedroom apartments.

Located at 57 Skyring Terrace in Newstead, it will also include a suite of exclusive resident lifestyle amenities, retail and a ground-level tropical oasis featuring pools of water, shaded enclaves and grassed areas, designed in conjunction with landscape architects RPS, which will connect to - and expand - Waterfront Park.

Mirvac started developing its vision for the Waterfront Newstead masterplan in 2001 and has delivered the first three stages - Pier, Park and Unison, with development approval in place for another future stage, the Shore Precinct.

Mirvac Head of Residential Stuart Penklis said Mirvac was planning to push the button on the Sky Precinct as the next stage, due to strong interest from potential purchasers..

"Resident amenities will include a ground level wellness centre with gymnasium and yoga studio that look out to water features and tropical landscaping and a resident's lounge and private dining room on level 19, with spectacular views of the New Farm reach of Brisbane River."

"The jewel in the crown will be the roof-top 25 metre infinity edge pool, spa and barbeque terrace, with views over the Brisbane river," he said

Mr Penklis said Mirvac was planning a boutique retail precinct at the base of the Sky Precinct.