One of Brisbane’s oldest surviving homes is set for a dramatic new chapter, with plans finally approved to transform the historic Shafston House estate into a luxury residential address in partnership with global hospitality giant Capella.
Brisbane City Council has given Verso Development Group the green light to create a prestige residential precinct on the 1ha riverfront site at Kangaroo Point, which would see the heritage-listed Shafston House restored as its centrepiece.
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An artist’s impression of Capella Residences Brisbane, formerly Shafston House. Image supplied by Verso.
An artist’s impression of the inside of the restored Shaftson House, which will be a key feature of Capella Residences Brisbane. Image supplied by Verso.
Expected for completion in 2029, the property will be the third Capella Residences globally after Seoul and Bangkok and will include a 25-storey residential tower, two standalone riverfront homes, a residents’ club, 5,500 sqm of amenity, and the completion of one of the last missing sections of the Brisbane Riverwalk.
Verso Development Group chief executive Steve Laffey said the project represented a once-in-a-generation opportunity.
“From a property perspective, it’s simply unrepeatable,” Mr Laffey said. “You’ve got more than a hectare of Brisbane riverfront land combined with Brisbane’s third-oldest surviving home. To try and find those two elements together anywhere else is almost impossible.
“While it’s certainly a complex site, that’s exactly what makes it so special.”
An artist’s impression of Capella Residences Brisbane, formerly Shafston House. Image supplied by Verso.
The latest proposal replaces earlier development applications lodged by Verso under its previous name, Burgundy Group, which attracted criticism from heritage advocates and did not proceed.
Mr Laffey said the new application adopted a holistic masterplan for the entire estate rather than a piecemeal approach.
Shafston House’s more decorative interior details, such as ornate windows, fireplace mantels, and historically significant structural elements, will be retained or restored as part of the project.
“We assembled a world-class team because we wanted to ensure the heritage wasn’t overpowered by the new design,” he said.
“This is a complementary design that brings the whole site together in one coherent vision.”
An artist’s impression of one of the bedrooms inside Capella Residences Brisbane, formerly Shafston House. Image supplied by Verso.
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Designed by Kerry Hill Architects, with interiors by London-based studio 1508 London and landscaping by internationally renowned PWP Landscape Architecture, the project has secured luxury hospitality brand Capella as its branded residences partner.
“Brisbane is a city on the cusp of something remarkable and Capella Residences is our commitment to being part of that story,” Capella Hotel Group president Roland Fasel said.
Mr Laffey said Capella was chosen ahead of several global luxury hotel operators because of its reputation for integrating with local culture and sensitively restoring heritage buildings.
“Their service offering is unparalleled, but what really stood out was their approach to heritage and authenticity,” he said.
“We didn’t want the global brand to overwhelm Shafston House. We wanted a partner that would enhance what already makes this place extraordinary.”
The former owner of Shafston House, Keith Lloyd. Picture: Tara Croser.
Shafston House as it appears today. Picture: Tara Croser.
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The development is expected to comprise about 50 residences, although final apartment numbers could change through the planning process.
Prices have not been released, but Mr Laffey said residences would likely command a premium of between 10 and 30 per cent above Brisbane’s broader luxury apartment market.
Rather than targeting investors, Verso expects strong interest from local downsizers alongside international buyers looking to establish businesses and a base in Brisbane.
“There is plenty of evidence Brisbane is becoming a much more significant global city,” Mr Laffey said.
“Our economy is now worth more than $200 billion, international connectivity continues to improve and, beyond the Olympics, Brisbane offers an incredible lifestyle.”
An artist’s impression of one of the living areas in an apartment in Capella Residences Brisbane, formerly Shafston House.
Residents will have access to more than 5500 sqm of amenities, including six pools, wellness facilities, levels dedicated to movement and relaxation, meeting spaces within Shafston House itself, guest accommodation, and a private marina.
Verso will also fund and construct one of the city’s largest remaining unbuilt sections of the Brisbane Riverwalk.
“The council has identified this as important infrastructure ahead of the Olympics and we believed it was the right thing to deliver it as part of the broader vision for the site,” Mr Laffey said.
The design statement by Kerry Hill Architects said the vision for the project was “to blend timeless heritage elements with modern vertical living, respecting Shafston House while providing a comfortable and highly functional residential environment.”
Built in stages from 1851 and associated with celebrated architect Robin Dods, Shafston House is Brisbane’s third-oldest surviving residence after Newstead House and Bulimba House.
The grand riverside estate was most recently owned by the late businessman, Keith Lloyd, before it was sold in one of Brisbane’s highest-profile prestige property transactions in 2020.
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