Located on the Northern end of the Teneriffe and New Farm Peninsula is the riverside suburb of Newstead. It is situated only 3km north of the Brisbane CBD. The north-west portion of the suburb, centered on Breakfast Creek Road, is predominantly commercial, with the remainder of the suburb, mainly along the riverfront now well established residential apartment buildings. At the last census, over 67% of the households in Newstead consisted of couples without children and a further 20% were single person households. Over 82% of dwellings in the area are units and 15% are stand-alone houses.
Within Newstead is the 17 hectare urban renewal precinct, NEWSTEAD RIVER PARK comprising an integrated community of commercial, retail and residential apartments set in acres of parklands, bikeways and a riverside lake. This areas role belies its industrial past. Timber yards, asbestos works, wharves and Woolstores once dominated. The tall iron structure of the No. 2 Gasometer frame on Longland Street is a remnant of the Newstead Gasworks, which was established in 1887.
Within the master plan, Mirvac are creating a residential precinct ‘Waterfront’. Now completed are two distinguished residential buildings, Pier North and Pier South along 250 meters of Riverfront. Also Park Apartments comprising 102 apartments overlooking the 5 hectare Waterfront Park and Lake. Currently under construction is Stages 1 & 2 of Unison, the latest development of two towers adjacent to the Gasworks Plaza. Property group FKP have developed ‘Gasworks’, bringing together a sophisticated mix of commercial office, retail and residential precincts, creating the preferred place to work, live and entertain. At the heart of Gasworks, the historic Gasometer frame has been transformed into a bustling open space public plaza surrounded by an array of dining and shopping outlets. Other major developers currently constructing residential properties within Newstead include, Tom Dooley Developments, Cavcorp and Metro Properties.