METRO LODGES DA FOR $500 MILLION WATERLOO PROJECT
DAVID Devine’s Metro Property Development is making its mark in Newstead after unveiling plans for a new $500 million multi-tower development on a high profile site adjacent to the Waterloo Hotel.
The developer has submitted a new Development Application to the Brisbane City Council for a residential apartment project on thecorner of Ann and Stratton Streets.
Designed by Cox Rayner architects, the proposed development would feature 922 apartments built across five towers of up to 20-storeys. The complex would offer a mix of one, two and three bedroom apartments.
There would also be a ground floor retail space with a gross floor area of 450sqm.
It’s the second apartment project announced by Metro Property Development in the fast-growing suburb of Newstead within the last 12 months.
The developer’s hugely successful Newstead Towers was launched earlier this year and achieved more than $100 million in sales within four weeks of its public release.
Metro Property Development co-founder David Devine said he expected to repeat the success of Newstead Towers with this new development.
“Our long-term strategy of acquiring exceptional development sites in inner-city growth suburbs, close to all amenities, is at the core of our success,” he said.
“This new development at Ann and Stratton streets has an outstanding location in the heart of Newstead – the Emporium is directly across the road and Fortitude Valley and Teneriffe’s shopping and dining precincts are just minutes away.
“Residents will also have access to major employment nodes like the Royal Brisbane Hospital and regular bus services to the city will be right on the doorstep.
“Like Newstead Towers, we will again be offering a high-quality, affordable lifestyle product that will be mainly aimed at young professionals.
“Demand for lifestyle properties is on the rise and we believe this new project will be an excellent opportunity for investors or owner occupiers.”
Metro Property Development was created in 2010 by David Devine and business partners Ken Woodley and Luke Hartman.
The company currently has a portfolio of projects concentrating on quality, affordable residential high-rise projects and broad acre land development in Queensland, Victoria and South Australia.
ENDS
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