Isle Waterfront Newstead - Exterior_Rooftop feature
Artist’s impression of the Isle Waterfront Newstead rooftop. Image: Supplied.
  • A prime Rockhampton riverside site has been listed
  • Brisbane apartment constructions commence
  • Club Hotel Waterford hits the market

“High profile” is something that comes to mind as the latest news across Queensland includes a well-known hotel coming to market, land owned by a golfing legend listed, development approval (DA) for a stunning tower being lodged, and some industrial properties close to completion see leasing activity.

Adam Scott owned Rockhampton site for sale

Located along 42-48 Victoria Parade on the banks of the Fitzroy River, a 7,502 square metre development has hit the market.

According to Knight Frank, the site is owned by Queensland golfer Adam Scott and is one of the few remaining vacant parcels in the Rockhampton CBD with river frontage.

Knight Frank’s Head of Rockhampton Pat O’Driscoll, who is managing the offers to purchase campaign, said: ”It is a landmark site and the largest available in the Rockhampton CBD with river frontage.”

“The two-street frontage to Victoria Parade and Bolsover Street is an enormous advantage.

“The Rockhampton region is experiencing significant expansion and investment, with a growing number of key priority projects in the pipeline.”

Image: Supplied.

As instructed by Adam Scott, Paul Watson, of the architectural firm Buchan, has created schematics for the optimal use of the site.

The proposed scheme from Buchan envisions a mixed-use development that spans 25 stories and includes both hotel rooms and apartments. The lower levels of the building may also be dedicated to conference spaces and retail establishments.

“This is an important gateway site with an unrivalled opportunity to create a destination precinct in Rockhampton that enhances the ongoing evolution of the riverfront experience and support the growing demands in the city for quality short-term and owner-occupier accommodation,” said Watson.

Club Hotel Waterford listed

The freehold interest is located on the corner of Loganlea Road and Albert Street, directly opposite a Coles-anchored shopping centre, and close to Logan TAFE and Logan Hospital.

The Brisbane hotel has a long-term, double-net lease to Liquorland Pty Ltd, the tavern is operated by KKR-owned Australian Venue Co. (AVC), one of the nation’s largest hospitality operators, features a large First Choice Liquor Market operated by Coles Liquor as well as ample car parking on a high exposure, 1.1ha corner site.

CBRE’s Paul Fraser, Joe Tynan and Michael Hedger have been exclusively appointed to steer the Expressions of Interest campaign.

Club Hotel Waterford 1
Image: Supplied.

“In the lead up to the 2032 Brisbane Olympic Games and with unprecedented infrastructure projects in the pipeline, we are seeing record levels of enquiry from investors nationally looking to gain a foothold in Brisbane’s hospitality industry,” said Fraser.

“In the case of Club Hotel Waterford, the asset has approximately 9.5 years remaining on its long-term lease with a further three 10-year options upon expiry, running until 2063. The net lease also provides a strong rental of circa $1.43 million per annum with the tenant being responsible for 100% of the outgoings. The landlord is only responsible for structure works.”

DA lodged for South Brisbane tower

Developer, Aria, has lodged plans for a thirty-storey tower comprising a mixture of 1, 2, 3, and 4 bedroom units.

The property is minutes away from Fish Lane and located on Cordelia Street.

Designed by world-renowned architects, Woods Bagot, the new apartment block will feature a rooftop pool, various amenity rooms, a rooftop sky terrace, and dining and lounging areas.

The podium facade will be enrobed in lush greenery, and the lobby will include an array of work-from-home spaces and private offices.

National Tiles commits to 17,500sqm

In the latest leasing news from Frasers Property Industrial, tile and flooring company National Tiles has signed two ten-year leases, including a 17,500 square metre facility at Vantage Yatala, and a 20,710 square metre facility at Canvas West in Tarneit.

The former is located in Queensland, with the property to comprise a warehouse and distribution centre, a customer trade centre and a design centre with a commercial tile library. The facility will be equipped with a 40-metre-wide super awning which provides 4,589 sqm of shaded loading space outside of the warehouse.

Vantage Yatala will also be home to National Tiles’ Queensland support office, which will include a two-storey office space spanning approximately 1,000 sqm.

Practical completion for the Queensland property is expected in the second quarter, with Hindmarsh as the appointed builder.

Construction commences on Brisbane apartments

Mirvac’s $212 million Isle Waterfront Newstead has commenced construction. The property will be the third apartment building Mirvac has underway at its $1 billion Waterfront Newstead community, joining 25-level Quay and build-to-rent development, LIV Anura, which is being delivered in partnership with the Queensland Government.

These three developments comprise more than 650 apartments, with over half to be build-to-rent apartments.

Presales are going well, with Quay 100% pre-sold, and 78% of the 133 apartments at Isle sold off the plan since its release in July 2022. Prices paid for apartments ranged from $540,000 to $6.25 million, with over three in ten buyers coming from the surrounding suburbs.

Mirvac Group General Manager, Residential Development QLD Warwick Bible said: “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.”

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.

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