Construction Begins at Waterfront Newstead
Mirvac has officially started work on more than 500 apartments across two new residential developments at its $1bn Waterfront Newstead community.
Mirvac has officially started work on more than 500 apartments across two new residential developments at its $1bn Waterfront Newstead community, to help meet low vacancy rates and significant demand for property in Brisbane.
Combined, the dual-tower $270m LIV Anura build to rent project and $180m Quay Waterfront Newstead premium riverside development will deliver 538 apartments and create more than 500 direct and indirect construction jobs over the next three years.
Queensland Treasurer and Minister for Investment, Cameron Dick, and Minister for Education, Industrial Relations and Racing and Member for McConnel, Grace Grace, today joined Mirvac's Angela Buckley and Warwick Bible to turn the first sod on the transformative building.
LIV Anura, which is being delivered in partnership with the Queensland Government as part of its Build to Rent Pilot Project, will offer 395 apartments exclusively for renters, including 25 per cent for key workers, across the 23 level and 25 level buildings.
It is set to be one of the first large-scale built to rent projects in Brisbane to welcome residents when completed early 2024 and will revolutionise the rental experience in the city.
LIV Anura 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.
Pictured from left to right: Angela Buckley, Cameron Dick, Grace Grace and Warwick Bible
Quay Waterfront Newstead comprises 143 luxury riverside apartments across 25 levels, of which more than 70 per cent have sold off-the-plan for more than $135m.
It will boast a luxury rooftop pool and entertainment sanctuary, exclusive shared dining room, wine room and ground-floor yoga studio, gym and wellness rooms. Construction is also anticipated for completion in early 2024.
More than half the site area of Quay will be dedicated to open space, injecting more than 2,000sqm of parkland to expand Waterfront Park, while 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.
Mirvac General Manager Build to Rent, Angela Buckley, said the start of work on the two projects simultaneously was part of Mirvac’s plans to ramp up its pipeline in Brisbane, with significant demand across all sectors of the property market.
“Developments like LIV Anura are crucial, with the city’s residential vacancy rate plummeting in the last year due to an extremely tight rental market,” she said
“Designed and built exclusively for renters, it is expected to be one of the first projects of its scale to open to residents in Brisbane and will raise the bar for the rental experience.
“It will be unlike anything delivered to date, with dedicated on-site staff, a resident app, 3,000sqm of resort-style amenity and a strong focus on sustainability, finessed from the learnings of our flagship project LIV Indigo in Sydney Olympic Park.
“All these elements ensure we are creating a home and a fantastic lifestyle, not just a place to rent, giving residents a sense of safety, belonging and personalisation, along with opportunities to connect with their neighbours.
“In partnership with the Queensland Government, a quarter of apartments will be offered at a 25 per cent discount to key workers, helping those in important industries like health, education and emergency services who have given so much over the past 18 months to live affordably, close to employment.”
LIV Anura, Waterfront Newstead - Images are Artist Impressions
Queensland Treasurer and Minister for Investment, Cameron Dick MP, said: “Driving the continued growth of Queensland’s construction sector is a key part of our Government’s COVID-19 Economic Recovery Plan.
“By turning the sod today on this Mirvac project, we’re firing the starter’s pistol on jobs here in Brisbane and the creation of new rental homes for Queenslanders who want to live and work near the CBD,” the Treasurer said.
“Shovels in the ground and cranes in the sky means jobs for Queenslanders. It means workers buying coffees and lunches from the local café, stimulating economic activity right through the supply chain.
“This project will offer 395 apartments exclusively for renters, including 25 per cent of dwellings that will be provided at a discounted rent via a Palaszczuk Government subsidy.
“This strategy will deliver a better lifestyle for Brisbane city-based workers and their families who’ll be able to access affordable housing closer to their jobs.
“This development is due for completion in 2024 will and provide 100 per cent renewable energy to all apartments.
“The Build-to-Rent sector is a growing asset class in Australia and developments like this highlight the opportunity for business investment here in Queensland.”
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.
“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,” he said.
“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.
“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.
“The significant demand for these apartments has prompted us to accelerate the development program for the next exciting stage in the precinct, which we are already taking registrations of interest for.”
LIV Anura will be located at 60 Skyring Terrace.
Quay Waterfront Newstead will be located at 57 Skyring Terrace. For further information, please visit: quay.mirvac.com
Quay, Waterfront Newstead - Images are Artist Impressions