Consolidated Properties Group has acquired the last remaining absolute riverfront development site in Brisbane’s blue-chip Newstead, unveiling plans to develop a landmark inner northern residential project that CPG says will be a signature building for the river city.

CPG has paid $64.5 million for the 9,368sqm site at 47 Skyring Terrace in an off-market deal from vendor Mirvac Group. The site is situated just 1.5 kilometres from the CBD and within walking distance to some of Brisbane’s best-known dining and retail destinations, including Gasworks and James Street.

The approved development comprises 227 apartments across a 25-storey tower with more than 75% having north east river views. There is also an absolute riverfront six-storey boutique building of only 12 residences which will each enjoy more than 21 metres of river frontage.

Designed by Woods Bagot, the project adopts a contemporary interpretation of Brisbane’s classical architecture, with a focus on enduring materials including brick and stone.

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