Developing Queensland: Toowong luxury development starts construction
Interest in a luxury residential development on the site of the former ABC headquarters is booming, with more than $200m worth of sales since it launched in March.
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Construction has started on the $450m Monarch Residences in Toowong, with $200m worth of apartments sold since its March launch.
The luxury residential development on the site of the former ABC headquarters at Coronation Drive already features a $3m sales display.
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Set on 1.2ha with 130m of Brisbane River frontage, there will be 224 apartments and penthouse residences across two 15-storey buildings.
Hutchinson Builders has started construction on the project, which is being delivered by Consolidated Properties Group (CPG) in conjunction with funding partner Qualitas.
CPG chief executive Don O’Rorke said Monarch Residences would be “transformative” for Brisbane.
“We are transforming one of Brisbane’s largest and most-prized riverfront sites into a new community that will be a landmark for generations to come,” he said.
“The journey to breaking ground started in 1865 with the heritage-listed Middenbury House which sits at the heart of the Monarch Residences site – and was once a popular venue for exclusive gatherings for society’s elite.
“We are honouring the past by restoring Middenbury House, which will soon be open to the public for the first time in more than a century.
“We are also building for the future – with a variety of luxury apartments and penthouses which cater to market trends indicating more people are looking for home-sized residences with the benefits of apartment living.”
One, two, three and four-bedroom apartments are priced from $670,000, with penthouses priced from $4.15m. The on-site interactive sales display has river views as well as a full-size kitchen, a bar and bathroom.
CPG purchased the site for $43.5m from Sunland in 2021.
“With a planned Toowong-to-West-End Green Bridge at the entry to our new 3000sq m riverfront parkland, Monarch Residences really is the missing piece of the puzzle for riverfront living in Brisbane,” Mr O’Rorke said.
Hutchinson Builders chairman Scott Hutchinson said it was a privilege to be working on a “legacy” project for the city, which will support a range of jobs through the construction period.
“The scale of Monarch Residences means we will have the opportunity to provide work to hundreds of people in a variety of trades through to anticipated completion in late-2025,” he said.
“The early sales success of the project is testament to the reputation of Consolidated Properties Group and the skill of Wardle and Cottee Parker Architects, and with more than a century of building experience under our belts, we are confident we can bring the vision to life.”
Mr O’Rorke said Monarch Residences would set a new benchmark for apartment living in Brisbane’s inner west on one of the best riverfront sites in the city.
“Buyers are telling us they haven’t seen anything like Monarch Residences in the market, which is why we’ve had such strong interest so far, especially from locals,” he said.
CPG head of residential James MacGinley said part of Monarch’s appeal was its range of floorplans catering to a broad cross-section of buyers.
“The common link across the buyers is they are all locals who understand the value of a piece of real estate that can’t be replicated in Brisbane’s inner west,” he said.
“There’s no better connected site, especially when you consider the rail, bus, ferry, pedestrian and cycleway linkages as well as the future green pedestrian bridge.”
MONARCH RESIDENCES
Address: 600 Coronation Drive, Toowong
Developer: Consolidated Properties Group
Builder: Hutchinson Builders
Architect: Wardle and Cottee Parker Architects
Price: From $670,000
Features: 224 apartments and penthouses across two 15-storey towers with one-, two-, three- and four-bedroom configurations
More information: monarchresidences.com.au
FAST SALES SPARKS BUILD
Lily by Mosaic, the $160m follow-up to the sold-out $166m Marella by Mosaic, has achieved more than $90m in sales in just five weeks, leading to Mosaic Property Group’s own building arm kicking off construction well ahead of the anticipated schedule.
The launch of Lily, the Queensland-based private developer’s second luxury Broadbeach release within one year, was quickened to fulfil demand following Marella’s sellout, which took less than six months for buyers to snap up nearly all 98 properties at an average price of $1.7m.
Like Lily, Marella’s sales led to its build being brought forward.
Mosaic Construction is currently advancing Marella’s basement and anticipates an early 2025 finish.
Mosaic’s founder and managing director, Brook Monahan, said Lily looked on track to achieve a sellout in a comparable time frame to Marella, if not sooner, due to the market’s confidence in Mosaic’s quality and proven track-record of delivery, coupled with the lack of supply of high-end luxury apartment product on the Gold Coast.
There will be 98 residences over 29 levels with amenities including a gymnasium, sauna, steam room, resort pool, barbecue and dining spaces, and a top-floor Residents’ Lounge.
Prices start from $895,000 for a two-bedroom two-bathroom configuration with one carparking space.
More info: lilybymosaic.com.au
CURATED INTERIORS AT STONEBROOK
Gardner Vaughan Group has launched the Penthouse Collection at Stonebrook Stones Corner – eight penthouses with exclusively curated interiors overlooking Hanlon Park.
There will be a choice of alabaster, a classic walnut woodgrain with champagne and brass tones, or obsidian with a balance of rich black, crisp white and smooth marble textures.
Stonebrook, at 10 Flora St, features 90 apartments between one and four bedrooms, 6km from Brisbane’s CBD.
Residents will have rooftop recreation areas, with indoor and outdoor dining and city views. Other features include a ground-level pool and function room.
Construction is underway with completion due late next year.
Off-the-plan apartments are for sale with private appointments available.
Contact: Annie Hayes, 0402 859 467, gvg.com.au
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