Unison Project buys Newstead DA approved site for $5.7M

UNISON PROJECTS has purchased an exciting DA approved boutique residential scheme just 2.5km* from the CBD in one of Brisbane’s most exciting lifestyle precincts as 14 Maud Street in Newstead sold for $5.7 million

Unison Projects is the private property investment and development company of Queensland-based billionaire founder of Super Amart furniture John Van Lieshout.

Established back in 2001, Unison Projects holds an array of property interests including tourism, residential, industrial, and commercial assets.

The asset offered a prominent 1,821sq m* site with 30-metre* street frontage and has a mixed-use (centre frame) zoning under Brisbane City Council.

The property was successfully marketed and sold by Ray White Commercial Qld Director and Head of Sales Tom Barr.

“The marketing campaign attracted strong interest with more than 70 buyer enquiries from local and interstate developers and investors,” Mr Barr said.

“It was an exceptional opportunity to purchase a residential development site which is DA approved for a striking nine-storey residential tower providing 52 apartments.

“The development stylishly integrates an existing 1,012sq m* heritage commercial/retail building (the former Federal Boot Factory) and the design provides a unique juxtaposition of the old and the new.

“The location will benefit from the new Newstead North Neighbourhood Plan which focuses on promoting economic development in the area by encouraging low impact and creative industries and allowing for targeted mixed-use growth.

“The site is also set to benefit enormously from several significant new major projects and public infrastructure, with the recently-completed Mercedes-Benz Lifestyle Precinct and the completion of the Kingsford Smith Drive Upgrade Project.

“The offering provided an excellent opportunity to capitalize on a market with diminishing forecast unit supply and sat in one of Brisbane’s most exciting precincts underpinned by strong fundamentals and demographics.

“Newstead is a rejuvenated area surrounded by some of Brisbane’s most affluent suburbs in Hamilton, Teneriffe, and New Farm, and is bordered by the Brisbane River.

“Upmarket boutique two and three-bedroom residential apartments in this area have great appeal to a number of demographic cohorts – in particular the young professional and downsizer markets.”


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