The supermarket is one block away; the keys are November 2028
High on Kyabra Street, between Gasworks and James Street, Fortis is building a 20-level brick-and-glass tower on a 921 m² site. Construction has started: structure tops out in January 2028, building work finishes in October 2028, and settlement is November 2028. Architecture and interiors by bureau^proberts, landscape by Arcadia, built by Binah. Apartments start from $1,575,000, marketed locally by FX Home.
The daily life on this corner already works — the supermarket, the restaurants and the riverwalk are all there. Only the building is missing. So two things are worth working out: whether the two-year wait earns its keep, and what this price actually buys in Newstead.
$1,575,000from · two bed, two bath · 20 levels, settling November 2028
Suburb data · NEWSTEAD
A suburb where apartments sell in 19 days
The figures below come from public suburb platforms, read 9 October 2026.
- Median unit price
- $950,000Your Investment Property, 12 months to June 2026
- Unit sales, past 12 months
- 322median 19 days on market
- Median weekly unit rent
- $800Domain's two-bedroom median is about $880
- Gross unit yield
- 4.10%other platforms put it at 4.5%–4.9%
- Rental vacancy
- 0.32%Domain's figure, very tight
- Population
- 21,474 (2025 preliminary)11,355 in 2016, Newstead–Bowen Hills statistical area
- Entry price here
- $1,575,000about 1.7× the suburb's unit median
Two things read together. The rental market here is tight — 0.32% vacancy, apartments gone in 19 days. And this building's entry price is about 1.7 times the suburb's unit median: at the suburb's $880 two-bedroom rent against $1,575,000, the gross yield is about 2.9%, below the suburb's own 4.10%, before the $173-a-week levy. What this building sells is position and product, not cash flow — agree with that before going further.
One correction worth making: the "242%" in the circulating briefing is population growth between 2016 and 2021, not price growth.
What is for sale · 12 KYABRA STREET
Two-bedrooms that are large for the inner city
Prices are from the price matrix dated 1 September 2026; types and areas from the 2 June 2026 schedule (REV.2).
| Type | Configuration | Internal | Balcony | Price range |
|---|---|---|---|---|
| 2 bed | 2 bath, 1 car | 89–95 m² | 11–15 m² | $1,575,000 – $2,180,000 |
| 3 bed | 3 bath, 2 car | 192 m² | 21 m² | $3,950,000 – $4,050,000 |
| 3 bed | 3 bath, 3 car | 192 m² | 21 m² | $4,725,000 |
At 89 to 95 m² internally, the two-bedrooms are genuinely large for a new inner-city building. The trade is outside: 15 m² on a Type A balcony, 11 m² on a Type B — and B1 and B2.1 are winter gardens, not open balconies, which is worth seeing in person. A good share of the priced two-bedrooms face south.
Three documents need aligning before contract. The folder still holds a November 2025 REV.1 sheet that puts the same type on different lot numbers and reads 1 m² smaller; some drawings disagree between the header and the specification box; and the matrix gives Lot 1401 two car spaces where every other B2.2 has one. The plan annexed to the contract is the one that counts.
Delivery and holding cost · FORTIS
Precise dates, and no sunset clause
Structure tops out
January 2028, on the developer's programme.
Building work complete
October 2028.
Settlement
November 2028 — signing now means a two-year wait.
Sunset clause
Not seen in the material; have a solicitor confirm it in the contract.
The holding cost, unusually, comes with real figures, lot by lot — budget v5 dated 10 February 2026, GST and insurance included:
- Two-bedroom levy
- $8,980 – $9,391 a yearabout $173 – $181 a week
- Three-bedroom levy
- $12,452 – $12,718 a yearabout $239 – $245 a week
- Inside the budget
- an embedded network agreementthe retailer and the tariff are not stated
- Unpublished
- council rates, water, contents insuranceall on top of the above
Binah is building and Fortis has other Brisbane towers — that is a track record, not a sunset clause. Queensland stamp duty is extra.
Amenity and specification · CREST & WALKER
A rooftop pool and sauna; no gym on the drawings
- Rooftop pool
- Sauna
- Steam room
- Outdoor shower
- Barbecue
- Sun loungers
- Fisher & Paykel kitchen, bathroom and laundry appliances
- Interiors by bureau^proberts
The specification makes Fisher & Paykel kitchen, bathroom and laundry appliances standard in every apartment. The roof plan marks a pool, sauna, steam room, shower, barbecue and loungers — but no gym appears on the drawings. If a gym matters, get its presence confirmed in writing before contract.
For an owner-occupier this is a 20-level building with few apartments per floor, and the roof is the shared space. For an investor the roof and the branded appliances are what leases it — though no rental appraisal exists for this building, so any rent figure needs an independent one.
Location · NEWSTEAD
The supermarket is in the next precinct; the station is not at the door
- Gasworks Plaza (with Woolworths)
- 2 minutes' walkthe brochure's figure; the same set also says 130 m, and 300 m / 4 minutes, and the website says 500 m
- James Street
- 10 minutes' walkthe brochure's figure
- Riverwalk
- 10 minutes' walkthe brochure's figure
- Teneriffe CityCat terminal
- 5–10 minutes' walkthe brochure's figure
- Fortitude Valley station
- 18 minutes' walkdescribed as "under a kilometre"
- Bowen Hills station
- 15 minutes' walkas above
The material gives four different distances to the supermarket (2 minutes, 130 m, 300 m, 500 m). The supermarket itself is not in dispute — it trades at Gasworks Plaza, 76 Skyring Terrace — but if the walk matters, walk it. There is no station at the door: both are a quarter-hour's walk or more.
On schools, the brochure prints distances to New Farm State School and Fortitude Valley State Secondary College. Those are distances, not catchments: the secondary college runs a negotiated catchment whose map lives on EdMap. A family buying for a school should check the contract address there for the year the child enrols. Childcare is not mentioned in the project documents.
Who it suits · CREST & WALKER
Who it suits, and who should think again
Suits: buyers who want this pocket of Newstead and value internal space — 89 to 95 m² is large for a new inner-city two-bedroom; buyers happy to wait until late 2028 for a street that is already finished; and buyers who want the holding cost settled up front, because this levy budget is set out lot by lot.
Think again: investors chasing cash flow, since the suburb's two-bedroom rent implies about 2.9% gross, below the suburb's own figure; anyone who lives outdoors, with balconies of 11 to 15 m² and some of them winter gardens; anyone sensitive to aspect, since a good share of the priced two-bedrooms face south; anyone who needs a gym, because the drawings do not show one; and anyone who needs a contractual date, because the programme is detailed but the marketing carries no sunset clause.
Before signing, have a solicitor confirm the sunset date and the current levy budget; ask for the REV.2 or later plan annexed to the contract rather than the November 2025 set; get the car space and storage cage in writing; and check EdMap against the contract address if a school matters.
Common questions · CREST & WALKER
The four questions buyers ask
When would I get the keys?
The developer's programme: structure tops out January 2028, building work completes October 2028, settlement November 2028 — a two-year wait from signing today. Those are the developer's dates, and no sunset clause appears in the marketing, so have a solicitor confirm one in the contract.
What is the body corporate?
Two-bedrooms run $8,980 to $9,391 a year ($173 to $181 a week) and three-bedrooms $12,452 to $12,718 ($239 to $245 a week), from budget v5 dated 10 February 2026, GST and insurance included. Council rates, water and contents insurance sit on top and are unpublished.
What rent should I expect?
The suburb's two-bedroom rent of about $880 a week against the $1,575,000 entry price is roughly 2.9% gross — below Newstead's own 4.10% figure, and before the levy. The case here is position and product, not yield, and no appraisal exists for this building.
Are the balconies too small?
Fifteen square metres on a Type A and 11 on a Type B is tight, and B1 and B2.1 are winter gardens rather than open balconies. What you get back is internal area that is rare in the inner city — 89 to 95 m² for a two-bedroom. Weigh the two together on inspection.
General information only — not financial, legal or tax advice. All details are subject to the Contract for Sale and the disclosure documents. Prices from the price matrix dated 1 September 2026, types and areas from the 2 June 2026 schedule, levies from budget v5 dated 10 February 2026; suburb statistics read from public platforms on 9 October 2026, subject to the current price list.
