BPG Developments secures development approval for $250 million Newstead project

Brisbane-based builder-developer BPG Developments has secured approval for its $250 million Newstead apartment tower.

The building, at 16-22 Maud Street, will have 103 apartments across the 15-level building which will be crowned with a rooftop wellness facilities.

Residents will range from expansive two-bedroom residences, through to several penthouses on level 15. There will be 1,380 sqm dedicated to wellness-inspired amenities including shaded outdoor dining nooks, a fire pit, barbecue area, sunset lounge, gym, yoga deck, magnesium lap pool, sun deck, a sauna, steam room, and cold plunge pool.

BPG put together the 2,430 sqm super-site combines three separate titles – a vacant warehouse, an electrical  wholesaler and an industrial shed, which were acquired in two separate transactions over a 12 month period.  

BPG was founded by industry veterans Nick Parr and Glen Williams. Parr said the project feels like a "coming home of sorts" for the pair, as they've both spent both spent the majority of their lives living in Brisbane's inner north.  

“I lived just up the road in Teneriffe for most of my childhood," Parr said.

"We saw this site as an opportunity to deliver a timeless project in arguably Brisbane’s most popular suburb, where  the standard for luxury design and amenities is incredibly high."

Parr believes Brisbane is in a bit of a "sweet spot" currently, in that construction prices have stabilised and demand has continued to climb which means the market is tightening up. 

“The Brisbane market is unique in that there is no shortage of sites with existing development approvals, the issue is around the availability of builders who can deliver such projects. We are one of the few builder-developers who can build our own projects at scale  so we are able to move quickly into delivery mode which gives confidence to our purchasers.”  

Williams said they are proud of the project both in the sense of the significance of the site, but also in the quality and timelessness of the design.  

“At BPG Projects we are conscious to prioritise quality over volume, so we tend to  approach one project at a time," Williams said.

“For us we are motivated by creating a lasting legacy in our projects, so working with Sekisui House to realise this vision has been a rewarding journey.”  

BPG has appointed MOTIV to handle the sales and marketing of the new tower, which is expected to launch early next year. MOTIV Founder Carly Cottam said the project epitomises everything Newstead is about.

"Newstead is a huge success story in the revitalisation of Brisbane, and as a result it’s now one of the most popular inner suburbs, characterised by its exceptional urban design and wellness-driven lifestyle," Cottam said.

“We know this market values flexibility in floorplates, abundant storage and really liveable  kitchens and interiors. That’s why designing an entire building around the owner occupier market with 100  percent of the floorplates representing two or three-bedroom residences mean this project is primed to appeal to the right audience.”  

BPG completed Sable Palm Beach on the Gold Coast in 2019, and has plans for more developments in the suburb, as part of their $500 million development pipeline.