Breakfast Creek
Newstead is a highly sought-after mixed-use suburb within the fringes of the Brisbane CBD and part of the Brisbane City Council.
Project Description
Location
The property is located at Breakfast Creek Road and Ross Street, Newstead QLD, only 3km northeast of Brisbane CBD. Newstead is a highly sought-after mixed-use suburb within the fringes of the Brisbane CBD and part of the Brisbane City Council. The site is located within proximity to all necessary amenities, including retail, education, childcare, public transport, and sporting amenities such as Newstead House, Breakfast Creek Hotel, Gasworks Plaza, Brisbane Indoor Sports Centre, and Valley Homemaker Centre.
Development Project
The site will propose 3 residential towers, comprising a total of 651 apartments over 25 stories each. The area directly surrounding the site is undergoing urban renewal and gentrification, with the completion of the Mercedes-Benz Autohaus and Bunnings Newstead Precinct.
The site is well serviced by major arterial roads and highways, including Kingsford Smith Drive and the Inner City Bypass, which both connect to Breakfast Creek Road.
Purpose
The loan is provided to assist the developer with the refinance of a future development site.
Exit Strategy
The primary exit strategy will be via refinance of debt for the purpose as a pre-development land facility or for construction of proposed commercial and/or residential site.
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