Frasers Property Australia is leaning into the lower-risk communities market in South-East Queensland as it divests its Brunswick & Co build-to-rent project and a Newstead development site on Chester Street. 

The Urban Developer understands that the developer bought the 3016sq m Chester Street site, where it won approval for an amended two-tower project at the end of 2025, for about $18 million in 2021.

Frasers has since pivoted away from apartment development and has reportedly offloaded the site to a local high-profile builder-developer.