Frasers Property Australia has filed a development application for a new apartment precinct to be built in Newstead, located in Brisbane’s inner north, which has been designed by Rothelowman.
The developer hopes to build a 16 storey tower that comprises 142 apartments, 10 townhouses and a four level basement car park, located on a 3000sqm site on the corner of Chester Street and Morse Street. The site currently plays host to a carpark and a pair of industrial buildings. The tower will additionally feature space for two retail stores on the ground floor and a rooftop pool.
Frasers Property acquired the site in July 2021 due to its close proximity to Brisbane’s thriving James Street, with a number of developers looking to invest close to the precinct. A laneway will run through the centre of the site in order to connect the tower with the precinct.
The townhouses will sit towards the rear of the site, and have been organised into two rows with each having its own terrace garden.
The lodging of the development application sees Frasers Property look to expand its portfolio further in the river city, with its first build-to-rent complex currently under construction in Fortitude Valley. It contains 354 apartments over 25 levels, and is due to be completed in 2024.
Frasers Property currently has $2.5 billion worth of capital in Australia, with over $3 billion including partnership projects. The developer has branched out in the recent past, looking to oversee the construction of major mixed-use projects, as well as masterplanned communities, such as Life, Point Cook.
For more information regarding Fraser’s portfolio and the subsequent tower at Newstead, head to frasersproperty.com.au.
Image: Frasers Property
