Riverside Monarch towers woo wealthy Brisbane downsizers

Downsizers from Brisbane’s western suburbs are buying off-the-plan apartments in the $450m Monarch Residences ahead of its 2025 construction completion.

Monarch Residences in Toowong is being built by the Consolidated Properties Group.

Cashed-up downsizers from Brisbane’s western suburbs such as St Lucia, Indooroopilly and Brookfield, are buying off-the-plan apartments in the $450m Monarch Residences in riverside Toowong, ahead of the completion of construction in 2025.

Developer Consolidated Properties has 45 apartments priced from $1.875m for large three bedders left, out of the original 224 units on offer in the twin-tower complex on the banks of the Brisbane River.

“Sales have really gained pace in the lead-up to Christmas, as people look ahead to the new year and consider their property and lifestyle aspirations,” said Consolidated Properties chairman Don O’Rorke.

Monarch Residences going up in Toowong.

“The River 2 (tower) now has less than 10 residences remaining for sale, all of which are home-size three-bedroom floorplans, with prices starting from $1.875m,” said Mr O’Rorke, adding that Consolidated Properties and funding partner Qualitas were achieving $24,500 per square metre per apartment in most of the recent sales.

Remaining units range from $1.875m to $12m with 165 units contracted and expressions of interests executed on a further 15.

“We’ve had good buyer interest across the whole spectrum, with 80 per cent of our buyers owner-occupiers from the western suburbs, who are mostly baby boomer downsizers,” Mr O’Rorke said.

The view from Monarch Residences.

“Monarch has resonated strongly with locals – we’ve not had any interstate or international buyers.”

The first stage of construction of Monarch Residences has been completed, with almost $300m in sales and one of the two towers near sellout.

Positioned on a 1.2ha site, it was named Brisbane’s best-performing project in the latest Urbis report, with the highest number of apartments sold in the July and September quarters.

Monarch Residences is positioned on a 1.2ha site on the riverfront in Toowong and upon completion will deliver 224 apartments and penthouse residences across two buildings. Residents will have access to a riverside pool, gym and sauna, as well as an expansive rooftop terrace with dining and entertainment areas.

The interiors are all about luxury and comfort.

Urbis data reveals Monarch Residences has accounted for a third of all apartment sales in the city over the past six months.

“Sales have really gained pace in the lead-up to Christmas, as people look ahead to the New Year and consider their property and lifestyle aspirations,” Mr O’Rorke said.

“Monarch Residences has been so successful because it is unique in terms of both its location on the riverfront surrounded by expansive public parkland, and its offering with residences created by the best in the business: Wardle and Cottee Parker Architects.”