One of Brisbane’s largest urban renewal precincts, Newstead Riverpark, is starting to come to life.

Located just two kilometres from the Brisbane CBD, the original Newstead Riverpark masterplan was developed by Mirvac Design, Cox Rayner architects and Urban Renewal Brisbane. It was first approved in 2002, and revised in 2006.

The 17 hectare riverfront parcel is currently undergoing a $2 billion rejuvenation spearheaded by developers Mirvac and FKP, and has just received its first major retail injection.

The 17,000sqm retail and commercial precinct is part of the second stage of FKP’s $1.1 billion Gasworks development, and features a full-line Woolworths supermarket alongside 25 specialty shops, including a fresh food market, restaurants, cafes, and a chemist and medical centre.

Image: The Urban Developer

Named the Gasworks Plaza, this hub complements the existing development at Newstead Riverpark, including the first stage of Gasworks, the Energex Headquarters, and the first two residential stages and parkland of Mirvac’s $1 billion Waterfront, Newstead.

“Gasworks is one of the most active developments in Brisbane, with the brand new retail, dining and shopping plaza now open to the public, and the next stage currently underway," says FKP executive general manager of Queensland and Victoria, Gary Kordic.

“Together, these stages will make a significant contribution to the level of retail and commercial space that services both the existing and projected population of this fast growing corridor.”

FKP’s retail, commercial and residential development will continue to be rolled out over the next decade. Stage three, which has been acquired by Charter Hall, will become the new headquarters for the Bank of Queensland and is scheduled to be completed by late 2014.

On final completion, Gasworks will comprise seven buildings offering 103,500sqm of commercial space and approximately 750 apartments.