Newstead

ASX-listed developer Mirvac has commenced construction on its latest signature Brisbane apartment building, the $212 million Isle Waterfront Newstead, which will create a lush new green heart of more than 10,000 plants and additional public parkland in the riverside suburb.

Isle is the third apartment building Mirvac has underway at its $1 billion Waterfront Newstead community, joining the 25-level Quay and the build-to-rent development LIV Anura, which is being delivered in partnership with the Queensland Government.

Across the three projects, Mirvac is delivering more than 650 apartments just two kilometres from the Brisbane CBD, with over half to be build-to-rent apartments.

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A total of 78 per cent of the 133 apartments have been sold off the plan at Isle since its release in July 2022, including all four ultra-luxury penthouses. Sales have ranged from $540,000 to $6.25 million.

Over 30 per cent of buyers are from direct surrounding suburbs Newstead, New Farm and Teneriffe, and more than two thirds plan to own and occupy.

Mirvac Group General Manager, Residential Development QLD Warwick Bible said the strong sales response to Isle reinforced Mirvac’s ongoing confidence in the resilient Brisbane apartment market and its legacy Waterfront Newstead community, which Mirvac has been developing for more than two decades.

“With Isle under construction, we now have more than $675 million in projects underway at Waterfront Newstead – it’s a very significant investment and a clear demonstration of our confidence in this city and this precinct’s unparalleled location by the Brisbane River,” he said.

"Across Isle, Quay and LIV Anura, we're delivering a diversity of new housing, including our luxury riverside residences and our 396 build-to-rent apartments, of which 25 per cent will be subsidised by the State Government as key worker affordable housing.

“We’ve built an incredible 20-plus year history of urban renewal in Newstead, from our Mariner’s Reach redevelopment of the former P&amp;O Wharf to our Cutters Landing refurbishment of the CSR sugar refinery, both catalysts for the significant revitalisation of the area that paved the way for the first stages of Waterfront Newstead, Pier, Park and Unison.

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“We’re seeing the Brisbane market performing well, underpinned by strong fundamentals with ongoing population growth, the return of immigration, tight vacancy, robust rental growth and restricted future supply outlook plus employment opportunities and major public and private investment ahead of the 2032 Olympics, and we are committed to continuing to be part of that legacy.”

Isle, located at 57 Skyring Terrace in Newstead has been designed by award winning Mirvac Design to align with Brisbane City Council’s ‘Buildings that Breathe’ principles, aimed at creating lush urban environments through sub-tropical architecture that reflects the city’s climate, opens to cooling breezes, features living greenery and provides shade and comfort.

The 25-level Isle will feature a suite of amenities to enhance residents’ wellbeing and highlight Brisbane’s natural assets, from the ground-floor leafy gardens featuring local flora to the rooftop Isle resort, boasting an infinity-edge pool and floating sunbeds that overlook picturesque river, park and city views, wellness centre, dining room, sunset cocktail bar and yoga lawn. A business centre and gym, located on level two, and a concierge service are also available for use by all residents.

"Isle will be efficient, resilient and sustainable, with its significant sub-tropical planting, solar panels to power communal electrical, efficient water fittings, EV car charging and the minimisation of construction waste among the many green initiatives being implemented," Bible added.

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Over 5,570 sqm, equating to more than 50 per cent of the site for Isle and sister building Quay Waterfront Newstead, will be available to the community as green open space, including parkland, shaded seating, water features and public art. Quay is also under construction, having been 100% pre- sold and will feature another 9,000-plus plants.

Mirvac’s $197 million Quay, which sold out in just seven months, and $270 million build-to-rent Queensland debut LIV Anura, are both anticipated for completion in 2024. Isle is anticipated to be completed in late 2025.

Mirvac is also constructing its $135 million Charlton House at Ascot Green, alongside Brisbane’s historic Eagle Farm Racecourse, with completion on track for mid-2024.

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alisonwarters@gmail.com

Mirvac commence construction on Isle Waterfront Newstead apartments 

Boutique property developers DibCorp have recently released their City View Collection in Bide Newstead. With construction underway, Bide Newstead is set to deliver 89 residences for completion in late 2023.

Atlantis Property Group Director, Fraser Byrne, said construction has been tracking well, despite the continuing building sector struggles.&nbsp;

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“LPS Group has been powering through the basement dig and the basement pour has just commenced,” Byrne said.

Over 85 per cent of the apartments have already been sold in Bide, with stock uptake heavily weighted towards local owner occupiers. Byrne says however there have been a number of interstate purchasers, who intend to move from the south to the Sunshine state.

There has also been a few investors securing apartments in the contemporary block.

The number of new apartment project launches have significantly diminished in 2022, with many developers holding back projects until the interest rate hikes slow and both labour and material costs become more reasonable.

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Bryne said it’s in times like these where it’s important for buyers to put their trust in builder/developers who can get projects out of the ground.&nbsp;

“In the current climate, launching a project is one thing, but actually being under construction is another,” Byrne said.

“To have a project in Newstead that has the surety of being in construction with a completion date in site, gives buyers a lot of comfort.”

Located just three kilometres from the Brisbane CBD, the dress circle address, and the overall designs and landscaping by Twohill &amp; James, Wiltshire Stevens Architecture and Lat27 add to Bide’s continuing success.&nbsp;

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With the project titled from the verb meaning to dwell or reside, the building design has been considered from the inside out, ensuring all of the elements to a balanced home can be achieved to each skyhome.

The Newstead address grants breathtaking city views, while perfectly framed floor-to-ceiling windows allow natural light to spill into every aspect of the homes.

Wellness is a paramount element of Bide Newstead’s design, with its amenity offering further emphasising the importance of lifestyle for all residents.

Bide offers a 600 sqm lush garden, across two storeys, an urban green space dedicated to wellness and entertainment.

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With barbecue facilities, private cabanas, landscaped gardens perfect for enjoying the open air, and seating areas for entertaining or even to be used as a workspace.

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The number of new apartment project launches have significantly diminished in 2022, with many developers holding back projects until the interest rate hikes slow and both labour and material costs become more reasonable.

Bide Newstead begins to take form with construction well underway

The latest apartments to hit Newstead, the sought-after inner-Brisbane suburb, are closer to fruition.

Brisbane-based boutique property developers DibCorp has signed on LPS Group to handle the construction of their apartment project Bide, which&nbsp;will deliver 89 residences to 29 Longland Street upon completion in late 2023.

The suburb has positioned itself as a popular choice among developers, sitting just three kilometres from the CBD, with significant investment into infrastructure evolving the area into a dynamic lifestyle, commercial and entertainment hub.

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With construction in full swing for LPS on Bide, just a limited number of apartments from the City View Collection remain, offering a mix of two and three-bedroom floorplans.

The two-bedroom residences in the collection kick off from $ $810,000, while the three-bed Skyhomes come in from $ 1,350,000, across roughly 146 sqm, with a focus on wellbeing and liveability across the entire project.

A collaborative group are behind the architecture and landscape design at Bide, with DibCorp engaging Brisbane locals, Twohill and James, Wiltshire Stevens Architecture and Lat27.

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The residential amenity within Bide has also been designed with a focus around lifestyle and wellbeing.

The 600 sqm lush garden, known as Bide Gardens, will home private cabanas and barbecue facilities, designed as a place to relax and unwind for residents as well as an additional space within the project where buyers can work-from-home. &nbsp;

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" scrolling="no" src="https://www.youtube.com/embed/1IRZjTJ6tZ8" title="YouTube video player" width="660"></iframe>

LPS Group said it has been an exciting three months for the group, planning and procuring subcontractors to deliver the job.

The group has a busy few months ahead of them, with plans to dig down a three-level basement and then build up slated to be completed by around Christmas.

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Brisbane-based boutique property developers, DibCorp has signed on LPS to handle the construction of their apartment project, Bide, while will deliver 89 residences to 29 Longland Street upon completion in late 2023.



LPS to construct DibCorp’s Newstead apartment project, Bide

Mirvac has unveiled plans for its latest premium apartment building, Isle, at its $1 billion Waterfront Newstead community in Brisbane.

Increasing buyer demand for apartments offering a connection to nature and emphasis on wellness has influenced the design of Isle, which is set to launch to market mid this year.

Isle Waterfront Newstead will sit alongside Mirvac&rsquo;s Quay Waterfront Newstead at 57 Skyring Terrace and feature significant living greenery, soft organic architecture and a suite of amenities designed for health and wellbeing.

Isle will feature 135 residences across 25 levels, including one, two and three-bedroom apartments, expansive three and four-bedroom pavilions and four-bedroom penthouses, which sit across half a level.

Designed by the award-winning Mirvac Design team, Isle is leading a trend in biophilic architecture, centred on bringing nature into the built environment, and Brisbane&rsquo;s ongoing move towards &lsquo;Buildings that Breathe&rsquo;.

It will enjoy a sought-after position fronting Waterfront Park and just steps from Gasworks Plaza.

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The launch comes after Mirvac&#39;s previous stage at Waterfront Newstead, Quay, sold out all of the 136 apartments in the 25-level tower in seven months.

Construction of Quay is already underway and due for completion in early 2024.

Mirvac&#39;s Head of Residential, Stuart Penklis, says Mirvac&nbsp;has launched nine major apartment projects in the last 12 months including Isle Waterfront Newstead.

&quot;We are seeing a rise in demand for premium, well-located, larger and higher specification apartments from owner occupiers, which is what Isle will respond to - with everything from one-bedroom apartments to four-bedroom penthouses,&rdquo; Penklis said.

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Mirvac General Manager Residential Queensland, Warwick Bible, said the success of Quay reflected buyers&rsquo; increasing preference for premium apartments and amenity.

&ldquo;The success of Quay and our plans for Isle demonstrate our commitment to the Brisbane market, where we are well placed to deliver exceptional quality in response to significant demand for apartments in the city and the Waterfront Newstead community. Now we have development approval for Isle, we&rsquo;re working to bring the apartments to market as soon as possible to meet demand for this style of living in the heart of the city,&rdquo; said Bible

&ldquo;We&rsquo;re seeing buyers looking for apartments with a sustainable design, where they can live feeling connected to nature and enjoy holistic health benefits. We embraced these concepts at Quay and purchasers responded extremely well. Isle will take them to the next level, creating a unique experience for residents.&rdquo;

&ldquo;The building optimises the indoor-outdoor lifestyle, with floor-to-ceiling glass sliders inviting cooling river breezes, expansive sculptured and planted balconies offering shade and an orientation ideal for cross ventilation, with spectacular northern aspects to Brisbane River and Waterfront Park,&rdquo; he added.

The exterior is designed as an &lsquo;urban forest&rsquo; to blend with the natural environment, with its organic curves draped in greenery acting as an extension to neighbouring Waterfront Park and its ground-floor retail integrated with lush, planted enclaves and water features.

The group worked closely with landscape architects RPS on the planting palette, while a suite of resort-style amenities were designed to further enhance residents&rsquo; health and wellbeing.

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Isle will feature an infinity edge lap pool on the rooftop, along with infrared and magnesium spas, a fully equipped dining room and sunset cocktail bar, all overlooking the park and Brisbane River, giving residents the space to unwind, reflect and entertain.

&ldquo;There will also be a gym, a business lounge for those embracing the work-from-home culture that has blossomed post-Covid and a concierge service, for everyday luxury. It is all about creating opportunities for residents to live a balanced and healthy lifestyle, all from their home address,&rdquo; said Bible.

&ldquo;The apartments will feature quality, natural materials such as stone, glass and warm tones, which creates a beautiful and tactile experience,&rdquo; he said.

&ldquo;The floor plans will offer a generosity of space, with an open-plan design that connects seamlessly to the expansive balconies and views beyond.&rdquo;

Located in the heart of Newstead and just two-kilometres from Brisbane CBD, Isle residents will benefit from restaurants, cafes, public transport, the Brisbane River and Waterfront Park all at its doorstep.

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Increasing buyer demand for apartments offering a connection to nature and emphasis on wellness has influenced the design of Isle, which is set to launch to market mid this year.



Mirvac unveil plans for Isle, Newstead apartments, in $1billion Brisbane River community

The Newstead Federal Boot Factory, bought by Brisbane billionaire John Van Lieshout last year, is set to go ahead with its apartment redevelopment.

Van Lieshout, the founder and former owner of the Super A-Mart furniture store chain, has however tweaked with the plans that he inherited when the 1821 sqm site at 14 Maud Street was bought.

They were designed by Joe Adsett Architects, and had planned for 52 apartments across nine levels.

New plans submitted to the Brisbane City Council see the Brisbane-based Ellivo Architects design a slightly more boutique project, with just the 41 apartments.

<a href="https://www.urban.com.au/new-apartments/federal-14-maud-street-newstead">To get the latest updates on the project and when it hits sales, enquire here</a>

<a href="https://www.urban.com.au/new-apartments/federal-14-maud-street-newstead"><img alt="" height="622" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/federal_ellivo_2.jpg" width="1200" /></a> 
The old plans, left, and new plans, right, proposed for the site. Image credit: Ellivo Architects

The plans are for a mix of two, three and four bedroom apartments, still across nine levels, with the rooftop being the focal point of the resident amenity.

Half of the roof is the huge 190 sqm penthouse with four bedrooms, a home office, and a 112 sqm wrap around balcony, while the other half has a communal&nbsp;outdoor dining room and kitchen&nbsp;and a swimming pool with day beds.

The project&nbsp;will be integrated with the old Federal Boot Factory on its heritage 1012 sqm lot, with the retention and adaptive reuse of the Goldsworthy and Perkins Boot Factory heritage building into ground floor retail.

<a href="https://www.urban.com.au/new-apartments/federal-14-maud-street-newstead">To get the latest updates on the project and when it hits sales, enquire here</a>

New plans submitted to the Brisbane City Council see the Brisbane-based Ellivo Architects design a slightly more boutique project, with just the 41 apartments

Joel Robinson

Newstead's Federal Boot Factory apartment development plans get refresh

Mirvac has lodged its latest plans for the next stage of its $1 billion Waterfront Newstead community on the banks of the Brisbane River.

The second stage of the ASX-listed developer&#39;s Sky Precinct will see a 25-level mixed-use tower created, homing 135 apartments and 825 sqm of ground-level retail.

The plans have been brought forward due to the success of Quay Waterfront Newstead, the first stage of the masterplanned precinct. That&#39;s nearing sell-out after knocking over $155 million in sales since its April launch.

Designed by the award-winning Mirvac Design team, the new sub-tropical design is focussed on organic forms and a connection to nature. The intent is to create the next iteration in a family of buildings for the Sky Precinct each with its own unique identity.

The building will feature a mix of one, two and three bedroom residences, along with expansive four bedroom pavilions and penthouses.

It will include extensive resident amenity, with a riverside rooftop featuring a pool, sunset bar, sky gardens, wellness spaces,&nbsp;a gym, and a business centre&nbsp;to facilitate the continued trend towards working from home.

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On the ground-floor, it will offer a collection of retail spaces, which integrate with landscaped green enclaves, water features and shaded areas connected to the neighbouring Waterfront Park.

It is anticipated the new building will be released to market in mid-2022, pending approval from Brisbane City Council.

Mirvac Head of Residential Stuart Penklis said the planning phase for the new stage was brought forward shortly after Quay&rsquo;s successful debut to the market in April.

&ldquo;The response to Quay has been phenomenal and we realised early on it was going to reach its sales targets well ahead of schedule, prompting us to start looking at expediting timelines for this exciting next stage,&rdquo; Penklis said.

&ldquo;Our vision is to create a unique building that complements Quay and again develops the &lsquo;Buildings that Breathe&rsquo; principles, with a living green fa&ccedil;ade, soft organic form and significant connection to the surrounding natural environment.

&ldquo;The proposed building takes full advantage of its northern aspect towards the Brisbane River and Waterfront Park, with apartments capturing cooling breezes and residents enjoying significant resort- style amenity designed for lifestyle and wellness.

&ldquo;We&rsquo;ve also carefully considered how the building will interact with the broader Newstead precinct, including an active street-level, which we envision will become a destination in its own right, providing improved linkages to the river, Gasworks and green spaces for the whole community to enjoy.&rdquo;

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Mirvac Design Director, Michael Wiener, said the team worked closely with landscape architects, RPS, to develop a lush planting palette that will enhance the liveability of the building and the urban space.

&ldquo;Integrating living greenery with architecture is essential to subtropical design and we&rsquo;ve placed significant focus on this, both in terms of the planned building and how it interfaces with - and expands - Waterfront Park,&rdquo; he said.

&ldquo;In the public space, there will be sculptural shade structures with greenery, screening elements and luxuriant trees, which will look fantastic and enhance people&rsquo;s experience. We see it as the rebirth of a new Waterfront Park that is more reflective of the vibrant Newstead neighbourhood of today.

&ldquo;The apartments have been designed with variable balcony widths to create deep eaves for shelter, planting and cross-ventilation, ensuring residents have every opportunity to make the most of Brisbane&rsquo;s beautiful year-round climate.&rdquo;

Mirvac has been developing its Waterfront Newstead community since 2001, including the completed Pier, Park and Unison buildings and its latest stage, Quay, which is under construction and due for completion in early 2024.

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The second stage of the ASX-listed developer's Sky Precinct will see a 25-level mixed-use tower created, homing 135 apartments and 825 sqm of ground-level retail

Mirvac unveil latest apartment tower in $1 billion Newstead masterplan

Bide is the latest Newstead residential offering by Dibcorp Properties. It comprises 89 spacious one, two and three-bedroom apartments just three kilometres from the CBD.

The design was a collaborative effort by Twohill &amp; James, Lat27 and Wiltshire Stevens Architecture.

Located in the heart of the upmarket riverfront suburb of Newstead,&nbsp;Bide is the latest part of the suburb&#39;s transformation to an up-market residential suburb belying its industrial past.&nbsp;

Urban has taken a look at the floorplans on offer as the selection of apartments available starts to dwindle.

&nbsp;

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<ul>
	<li>One Bedroom | One Bathroom | One Car | 72 sqm |&nbsp;$485,000+</li>
	<li>Two Bedroom | Two Bathroom | One Car | 99&nbsp;sqm |&nbsp;$675,000+</li>
	<li>Three Bedroom | Two Bathroom | Two&nbsp;Car | 121 -&nbsp;191 sqm |&nbsp;$1,250,000+ (Floorplan pictured below)</li>
</ul>

<a href="/buildings/bide-newstead-21-longland-street-newstead"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/bide_2-bed_flrpln.jpg" /></a>

Apartments inside feature open-plan living and dining, a balcony space with 270 degree views&nbsp;and a study nook in some apartments for working from home.

Dibcorp has offered residents the opportunity to work hand in hand to tailor the layout and configuration&nbsp;of their apartment. There&#39;s plenty of other upgrade options too, from floor and curtains to kitchen fittings and appliances.

Beyond the apartments, Bide residents&nbsp;enjoy 600 sqm of amenity across two levels, including barbeque facilities, private cabanas, landscaped areas and seated space throughout.

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&quot;Bide embodies the belief that the spaces we inhabit are essential to a balanced life. It centres around the wellness of the occupier and how the space can compliment their lives,&quot; Dibcorp says.

It is slated for completion in early 2023.

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Dibcorp has offered residents the opportunity to work hand in hand to tailor the layout, configuration and fittings of their apartment

jordan_55689

Inside Dibcorp's popular Bide apartments in Brisbane's Newstead

The ASX-listed developer Mirvac has started work on their $180 million Brisbane apartment tower, Quay Waterfront Newstead, part of its $1 billion Waterfront community.

Queensland Treasurer and Minister for Investment, Cameron Dick,&nbsp;joined Mirvac General Manager Build to Rent, Angela Buckley, and Mirvac General Manager Residential Queensland, Warwick Bible, to turn the first sod on the buildings.

The 25-level Quay Waterfront has already secured 70 per cent of its 143 riverside apartments, with prices starting from $475,000.

It will feature a luxury rooftop pool and entertainment area, exclusive shared dining room, wine room and ground-floor yoga studio, gym and wellness rooms. Construction is also anticipated for completion in early 2024.

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More than half the site area of Quay will be dedicated to open space, injecting more than 2,000 sqm of parkland to expand Waterfront Park.&nbsp;

Mirvac has also commenced construction on LIV Anura, their dual-tower $270 million built-to-rent project in the same precinct. It is set to be one of the first large-scale built to rent projects in Brisbane when completed in early 2024.&nbsp;

LIV Anura will contribute more than 1,000sqm of retail and deliver a new cross block linkage connecting Skyring Terrace and Festival Place for easy pedestrian access to the parkland and riverfront.

The development, which is being delivered in partnership with the Queensland Government as part of its Build to Rent Pilot Project, will have 395 apartments exclusively for renters, including 25 per cent for key workers, across the 23 level and 25 level buildings.

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The development will feature a dedicated community team, a suite of sustainability initiatives including 100 per cent renewable energy to all apartments and car, bike, scooter and E-bike share, and an entire level dedicated to facilities, such as a cinema, games room, yoga studio, gym, pool, co-working spaces and a pet park.

Mirvac General Manager Residential Queensland, Warwick Bible, said LIV Anura and Quay were the next transformative chapters in the mixed-use Waterfront Newstead community, which Mirvac had been delivering for two decades.

&ldquo;When we completed the first stage of Waterfront Newstead, Pier, in 2011 we spearheaded the urban renewal of Newstead and LIV Anura and Quay follow that proud legacy,&rdquo; Bible&nbsp;said.

&ldquo;The two projects complement each other, providing a range of new opportunities to live in this fantastic location, with our Quay apartments setting a new standard for holistic riverside living.

&ldquo;Quay is designed to make a statement with a bold organic architecture and lush landscaping spilling from its balconies, while inside residents enjoy refined interiors and stunning Brisbane River views.

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The 25-level Quay Waterfront has already secured 70 per cent of its 143 riverside apartments.

Construction starts at Mirvac's Quay Waterfront apartments in Brisbane's Newstead

The latest inner-Brisbane apartment project by the local developer Dibcorp Properties is Bide, which is located in the heart of the upmarket riverfront suburb of Newstead.

The location of the 89-apartment development Bide, at 21 Longland Street, puts it just a stone&#39;s throw from the Brisbane River, and the convenience of the Teneriffe Ferry Wharf which connects the suburb to the CBD.

Residents will have immediate access to&nbsp;Gasworks Plaza on the adjoining Skyring Terrace riverfront street, which is home to a Woolworths and a numb er of other stores, as well as restaurants, cafes and coffee shops like Ping Pong, Yolk and Campos Coffee.&nbsp;

On Longland Street there&#39;s the popular eateries&nbsp;include Smoky Moo, The Defiant Duck, Drum Dining and the Milky Lane Newstead.

Cutting across Longland are a number of side streets like Stratton and Wyandra, which have a number of retailers and boutiques for residents to explore like a Think 24hr fitness, Smile Studio, and Brisbane Skin.

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Designed in collaboration with architects from Twohill &amp; James, Lat27 and Wiltshire Stevens Architecture.

Nestled in the heart of Newstead, the 89 residence apartment tower has been designed as an urban getaway just 3 kilometres north-east of the Brisbane CBD.

It is the latest part of the suburb&#39;s transformation to an up-market residential suburb belying its industrial past. Timber yards, asbestos works, wharves and woolstores once dominated much of the predominantly commercial suburb, now one of the most sought-after apartment spots in Brisbane.

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Bide is just a short distance away from Route 25 as well as the Teneriffe Ferry wharf and bus stations for those who choose public transit. As such it is right by the Brisbane river.

The proximity to schooling, as well the large three-bedroom apartments on offer, make Bide attractive for families. The nearby educational institutions include:

<ul>
	<li>Torrens University Australia - Satellite campus - 1.4km away</li>
	<li>University of Queensland - Satellite campus - 1.9km away</li>
	<li>Queensland University of Technology - Main campus - 3.3km away</li>
	<li>New Farm State School - Public School - 1 km away</li>
	<li>Music Industry College - Private School - 1.1km away</li>
	<li>Angelorum College - Private School - 1.1km away</li>
</ul>

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Dibcorp has offered residents the opportunity to work hand in hand to tailor the layout, configuration and finishes of their apartment.&nbsp;

Apartments inside feature open-plan living and dining, a balcony space and a study nook in some apartments for working from home.

Inside, residents can enjoy 600 sqm of amenity across two levels, including barbeque facilities, private cabanas, landscaped areas and seated space throughout.

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Nestled in the heart of Newstead, the 89 residence apartment tower has been designed as an urban getaway just 3 kilometres north-east of the Brisbane CBD

Walking tour of Newstead: What's within walking distance from Bide apartments

The Brisbane billionaire John Van Lieshout has paid $5.7 million for a Newstead apartment development site.

The 1821sq m site at 14 Maud Street has approval for a nine storey residential tower with 52 apartments.&nbsp;

It will be integrated with the old Federal Boot Factory on its heritage 1012 sqm lot, with the retention and adaptive reuse of the Goldsworthy and Perkins Boot Factory heritage building into ground floor retail.

Known as Federal Residences, the development was designed by Joe Adsett Architects.

<img alt="" height="662" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/federal_2.jpg" width="1200" /> 
The plans for Federal Residences. Source: Joe Adsett Architecture

The development approval was for an upmarket boutique 2 and 3 bedroom residential apartments in a precinct popular with both young professional and downsizer markets.

The split was aroound 30 &times; two (2) bedroom apartments and 22 &times; three (3) bedroom apartments.

The application sought 89 car spaces &ndash; 79 resident spaces and 10 residential visitor spaces in four basement levels

There was bicycle parking for 77 bicycle spaces.

The application sought a residents&#39; rooftop recreation deck with a pool, lounge area, outdoor dining, lawn area, cinema projection wall and decked auditorium seating.

&quot;It was an excellent opportunity to capitalise on a market with diminishing forecast unit supply and located in one of Brisbane&#39;s most exciting precincts underpinned by strong fundamentals and demographics,&quot; the marketing advised.

<img alt="" height="846" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/federal_3.jpg" width="1200" /> 
The plans for Federal Residences. Source: Joe Adsett Architecture

The Ray White marketing campaign generated 70 buyer inquiries from local and interstate developers and investors.

The site was previously sold for $4.18 million in July 2017 by Aspire HP which then secured the development approval.

It had been tightly held having sold at $135,000 in 1981.

Currently in the market in Newstead is Bide, the luxury owner-occupier development from Dibcorp.

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The Newstead residential development site has approval for a nine storey residential tower

Newstead

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