Boutique apartment selling in New Farm's The Refinery

WHAT was once a CSR Sugar Refinery is now 32 high-end apartments right on the Brisbane River in one of the city's most sought-after suburbs.

The exclusive apartments rarely go on the market, but buyers are in luck as unit 2211/32 Refinery Parade has been listed for sale by negotiation through Ray White New Farm Premium Property Specialist Christine Rudolph.

Sellers Allan and Elizabeth Keogh said the Refinery building is a testament to the transformation and repurposing of this historically significant New Farm building.

"We imagined a new minimalist space to contemporize the apartment and the earlier Mirvac adaption,” Mr Keogh said.

“Our aim was a light footprint, one which paid homage to the heritage-listed property while optimizing the stunning river and city views, the exposed internal brickwork and hardwood floors while meeting our lifestyle needs.

“And after significant due diligence, we engaged Corinne Bolton of Elm Interiors and Andy Crook of Artstruct Builders to deliver this significant renovation and make our vision a reality."

Mr Keogh said the lifestyle factors also influenced their purchase of the Cutters Landing Refinery apartment.

Location is a significant contributor. It's the combination of and proximity to New Farm Park, the Powerhouse, the Riverwalk, Merthyr Village, James Street Markets, and movie theatres that contribute to the magic of New Farm life,” he said.

“As do the river views and easy ferry access to the city and the Southbank arts precinct.

“And for those quiet stay at home days, our second-floor apartment provides an intimate connection with all the Riverwalk passers-by, there's always something happening.”

Ms Rudolph said many of the apartments in the refinery building are still tightly held by their original off the plan purchasers meaning any available apartments are quickly snapped up.

“There is always a fascination with The Refinery building, which is the unique conversion of the late 1800's CSR Sugar Refinery,” Ms Rudolph said.

“They transact frequently internally without even hitting the market. We have had interest from other owners within the building, a buyer who flew up from Sydney the first weekend the borders reopened and also high net worth local buyers.”

The New Farm agent also added that luxury apartments developed by Mirvac have consistently outperformed every market, regardless of conditions.

“A prime example of this has been a $7 million plus apartment sale this year in Mirvac's PIER building at Newstead as well as another New Farm apartment in the Cutters Landing development last week for just shy of $5 million,” she said.

“Many entrepreneurs are taking advantage of less competition from interstate migration and overseas buyers as well as limited blue chip stock coming to the market.

“Luxurious boutique waterfront apartments by quality developers in the inner city are continuing to perform. There have been some record breaking sales across Brisbane regardless of the market.”