Pikos Group plans $850m Newstead apartment tower

Pikos Group has unveiled plans for an $850 million mixed-use precinct in Newstead, continuing the Brisbane developer's push into large-scale, lifestyle-led apartment projects.

The proposed development will transform an amalgamated industrial site bounded by Waterloo, Byres and Gordon streets, adding more than 300 apartments to one of Brisbane's most active inner-city development pockets.

Pikos secured the three adjoining lots, spanning a combined 2,346 sqm, in 2025.

Designed by Plus Studio, the plans are headlined by a 34-storey residential tower with 305 apartments, along with 496 sqm of retail, commercial and wellness space at ground level.

The project will also introduce a relatively uncommon apartment model to Brisbane, with two entire levels dedicated to pied-à-terre residences.

The smaller, flexible apartments are aimed at buyers who want a Brisbane base without necessarily living in the property full-time, targeting professionals, downsizers, interstate buyers and those looking to spend part of the week in the city.

Pikos Group Managing Director Pedro Pikos said the concept had been driven by changing buyer behaviour in Newstead.

"Newstead has become one of Brisbane's most desirable lifestyle suburbs, but it's also a market where many buyers are looking for flexibility," Pikos said.

"The pied-à-terre apartments give people a way to live in Newstead without the commitment of a large residence. They're beautifully designed, efficient and attainable, and they open the door for professionals, downsizers, interstate travellers and those who want a city base during the week.

"We see these apartments as an important addition to the precinct because they broaden accessibility and reflect how people increasingly want to live, close to work, close to entertainment and close to the river."

The project will be heavily weighted towards resident amenity, spread across multiple levels.

A rooftop recreation level will feature a 25-metre lap pool, plunge pool and spa surrounded by landscaped Mediterranean gardens and daybeds.

There will also be barbecue and pizza terraces, a teppanyaki terrace, olive court and outdoor relaxation areas, along with a sauna and steam room, private dining rooms and residents' lounge.

A separate amenity level on level five will include a gym, wellness and work-from-home spaces, cinema, multi-court facilities, games and function room and communal lounge.

Pikos said the development would build on Newstead's transformation over the past decade, driven by its proximity to the CBD, Brisbane River and neighbouring Teneriffe and Fortitude Valley.

"Newstead is one of Brisbane's leading lifestyle precincts and we see this project making a meaningful contribution to its next chapter," he said.

"The development represents a major milestone for our portfolio by bringing together luxury living, activated retail and wellness spaces in a way that reflects the future of inner-city Brisbane."

The Newstead proposal represents another significant addition to Pikos Group's rapidly expanding Brisbane apartment pipeline.

Earlier this year, the developer completed the $360 million SKYE by Pikos at Kangaroo Point, while construction is progressing on its $700 million GAIA development nearby.

GAIA is being positioned as a wellness-focused residential community and represents part of Pikos' broader move towards amenity-heavy developments targeting Brisbane's owner-occupier market.

Pikos Group has delivered more than 65 projects over the past three decades and currently has more than $1.5 billion in high-end residential projects either under construction or in planning.