The Maxwell – City & River Views In New Farm suited to Owner Occupiers

By: Property Mash: August 18, 2017, Updated: December 5, 2018

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UPDATED SEPTEMBER 2018: The Maxwell is now well underway in its construction, and is due to finish within the coming weeks.

  • 16 luxury apartments over five levels
  • 2 x two (2) bedroom apartments; 14 x three (3) bedroom apartments
  • Prices start from $885,000 for a two (2) bedroom apartment and from $1,165,000 for a three (3) bedroom apartments
  • Riverside location in New Farm (4005) at the end of Maxwell Street, a cul-de-sac
  • River and city views
  • High level of finishes
  • Due for completion in August 2017
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The Maxwell is located at 40 Maxwell Street in New Farm.  This is a dead-end road that is predominantly populated by houses.  It is a quiet street that runs along the New Farm stretch of the Brisbane River.  The Maxwell itself is not absolute riverfront, as it is located on the other side of the road.  However, the building will still get great views of the river, city and Story Bridge.

Inside, these apartments are finished to a high quality.  Some standout features of these large, owner occupier apartments include European oak timber floors, wine fridges and a tap that offers sparkling water as well as still water.

The Maxwell differentiates itself from many of the other luxury apartment projects in Brisbane due to its size and location. If you want to be in New Farm, then the alternative is most likely townhomes. There are a number of other luxury owner occupier targeted projects similar to The Maxwell in other inner-city suburbs that compare in finishes, price and sizes and that will offer a riverside or riverfront location, however, they are generally in much larger buildings. Sure you will have fewer amenities at The Maxwell but you will also have fewer neighbours…. and probably most importantly to many buyers, you will be in New Farm.

The Project:

The Maxwell consists of 16 residential apartments over five levels with two levels of basement car parking. On the roof of the building is a small recreation area with a swimming pool that looks out over the city.

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Render of the pool deck looking out towards the city. Supplied by the developer.

The two (2) bedroom apartments in the building are priced from $885,000 to $915,000 and are between 105m² and 108m² internally with large balconies. Both of these apartments have two bathrooms and two side by side car spaces.

There are a number of three (3) bedroom apartments that range from $1,165,000 to $1,545,000. These are all over 175m² internally which is a very good size.

There are two penthouse style apartments on the top level of this building that are priced well over $2,000,000 and are larger than 200m² internally.

We have not been supplied with floorplans so cannot add them for you, unfortunately.

Being located so close to the river, this building will get great views towards the city, Kangaroo Point (4169) and the Story Bridge. These views will only get better the higher up the building you go.  The lower levels will probably get glimpses of the river, over the houses that are in between them and the river.  However, there is quite a large house currently under construction diagonally in front of The Maxwell that will obscure some of the city, particularly from the lower apartments so make sure you check this out before you buy.

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Many apartments will get city views from their living room. Render supplied by the developer.

Construction is yet to start at The Maxwell. It is anticipated to begin soon. It will take approximately 12 months to build.

Location:

The Maxwell is located at 40 Maxwell Street in New Farm, at the end of a cul de sac. It is a very quiet, leafy residential street that runs along the Brisbane River.

New Farm is a highly sought after residential pocket of inner Brisbane. It has a high median sale price of $1,500,000 for houses and $570,000 for apartments.

For a suburb so close to the city, there is a relatively small amount of new development in the area. All new apartment developments in New Farm are low-rise, so the suburb really keeps its ‘village’ feel.  Neighbouring suburbs include Teneriffe (4005), Newstead (4006) and Fortitude Valley (4006).

It is a popular area with families, particularly due to New Farm Park, which is one of Brisbane’s most picturesque riverside parks. New Farm Park is a 10-minute walk from The Maxwell. For those who like walking in the afternoons, there are plenty of pathways in the area that run along the Brisbane River towards Teneriffe and Hamilton (4007), or even into the city. Walking to Eagle Street Pier in the CBD from The Maxwell takes about 25 minutes along dedicated riverfront pathways.

There is a small set of shops, restaurants and cafes just three minutes walk from The Maxwell. This precinct is home to Vine Restaurant which is an upscale Italian restaurant that is very popular with New Farm locals.

Merthyr Village is a two-minute drive from The Maxwell. This is a fantastic local set of shops, restaurants and stores. There is a Coles, pharmacy, fruit shop and The New Farm Deli which has a range of Italian food. There is also a Commonwealth Bank Branch, butcher, Australia Post and several restaurants. There are a range of other shops in the Merthyr Road shopping precinct as well. If you are looking at The Maxwell and not too familiar with the New Farm area, we recommend going for a walk around this area to get a feel for it.

The Maxwell is an eight-minute drive to the heart of Brisbane’s CBD. Also, the entrance to the Airport Link is quite close to this apartment complex and residents can drive to the airport in under 25 minutes.

In terms of public transport, there is a bus stop just 100m away on Moray Street that runs to Merthyr Village or into the city. The Sydney Street Ferry Terminal is less than 1km away. This has regular services that run down river to the CBD or up river to Hamilton Reach or Bulimba (4171).

Quality and Finishes:

These are expensive apartments that are targeted at wealthy individuals.  As such, the quality and finishes at The Maxwell are quite high.

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Render of living and kitchen from the balcony. Supplied by the developer.

Several stand-out features of this development are the European oak floors and the large, beautifully designed kitchens and living areas with plenty of custom joinery.

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Modern kitchen design as seen in the display. Photo was taken 14/07/2016.

The kitchens in these apartments are large and built for those who appreciate a good kitchen.  Some of the kitchens at The Maxwell are 6.5m long, which is extremely rare in new apartments.  The kitchens feature full height cabinetry, two Asko ovens, fully integrated double fridge and dishwasher.  The tapware, from Zip, features sparkling water functionality as well as still.  On top of this, the bench tops are thicker than average and the cupboards are full height.

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Two ovens are always better than one. The photo was taken onsite 14/07/2016.

This high level of finish flows through the open plan living spaces, which feature large custom built timber cabinets, and out onto the decks.  The decks have timber panels on the roof which is an attractive feature that is commonly seen in high-end apartment projects at the moment.

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All lights and climate throughout each apartment are controlled by an Urban Air device, which is a great addition to this complex. As you would expect for an apartment in this price range you will get fully ducted air conditioning.

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Photo of Urban Air device in the display. Taken 14/07/2016.

As with most new developments in Brisbane, there is a choice between a light or a dark colour scheme at The Maxwell.

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Dark & Light colour schemes at The Maxwell. Photo taken 14/07/2016.

Overall, the design of the interior at The Maxwell is legitimately modern and elegant.  We would recommend heading down to the display suite to see it because it really does need to be seen in person to appreciate the finer details and the quality of the fittings.

Investment Analysis – Rent / Onsite Managers:

These apartments are targeted at owner-occupiers.

Local Competition:

In New Farm, there are two other developments that are in competition with The Maxwell. These are Point Luxe, also by Pointcorp and Oxley & Bowen.  These are both townhouse developments, however, they are similar to The Maxwell due to their luxury nature and relative price points.

It is likely that buyers who are looking at The Maxwell would also be looking at other luxury, riverfront projects.  As such, it is likely that this project would have competition across wider Brisbane in suburbs like Bulimba, West End (4101) and Kangaroo Point, where there are multiple riverfront developments.

Developer & Builder Overview:

The Maxwell is being developed by Pointcorp, which is a Brisbane based developer that specialises in luxury apartment projects. They are known for delivering high-quality apartment buildings that are truly some of the nicest in Brisbane.  Other projects of theirs include The Highgate and Point Luxe

Sales Display & Contacts:

The sales display for The Maxwell is located onsite at 40 Maxwell Street, New Farm. There is plenty of parking on site.  It is open on Saturday from 10:00 am to 11:30 am and again from 1:00 pm to 2:30 pm.  At the sales display, you will find a kitchen and lounge room, as well as a model of the building.  It is definitely worth a visit to see the level of finishes available at The Maxwell.

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Model of The Maxwell as seen in the display suite. Photo taken 14/07/2016.

Developer Promotional Video:

 

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