This article is from the Australian Property Journal archive
MIRVAC has lodged a development application for the next stage of its $1 billion Waterfront Newstead community on the Brisbane River.
The application included plans for a new 25-level building, comprising the second stage of Mirvac’s Sky Precinct at 57 Skyring Terrace, which will feature 135 residential apartments and 825sqm of ground floor retail space.
The second stage of the development has been fast-tracked after the success of Quay Waterfront, the first stage of the Sky Precinct that is now closing in on sell-out status reaching more than $155 million in combined sales.
“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,” said Stuart Penklis, head of residential at Mirvac.
The new building will include one-, two- and three-bedroom offerings, in addition to the larger four-bedroom pavilions and penthouses.
The second stage of the development was designed by Mirvac Design who also worked closely with RPS on the site’s landscape architecture.
“Integrating living greenery with architecture is essential to subtropical design and we’ve placed significant focus on this, both in terms of the planned building and how it interfaces with – and expands – Waterfront Park,” said Michael Wiener, director of Mirvac Design.
Amenities at the will include a rooftop pool, sunset bar, sky gardens and wellness centre, while on level two there will be a gym and business centre.
“We’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,” added Penklis.
Pending approval from the Brisbane City Council, Mirvac plans to release stage two to the market in mid-2022.
“We look forward to working with Brisbane City Council and the community on our plans for this new stage over the coming weeks,” concluded Penklis.
