18 August 2026
Realestate.com.au – 18/08/2026
South Brisbane’s off-the-plan record for apartments is believed to have been smashed after a buyer combined two units for $11 million.
The eyewatering sale was secured in Mosaic Property Group’s The Riversdale project at 91 Montague Rd, and is understood to be the highest price ever paid for an apartment in South Brisbane, smashing the previous record of $7.75 million for 3002/66 Hope Street in July last year.
It also surpasses the suburb’s off-the-plan record of $7.25 million paid for a 4-bedroom, 3-bathroom apartment at 2901/66 Hope Street set in August 2025.
The Riversdale sale saw the buyer combine two units to create a grand 394sq m, 4-bedroom, 4.5 bathroom home.
“At $11 million, this sale follows the $11.78 million penthouse transaction achieved at The Bedford last year and reflects the confidence buyers have in the calibre of homes we’re delivering,” Mosaic foundre and managing director Brook Monahan said.
“The significance of this result extends beyond the sale itself.
“It reinforces a conviction we’ve held for many years that this former industrial stretch at the northern end of Montague Road would become Brisbane’s next great residential riverfront destination.”
Mr Monahan said the sale reflected the growing appeal of South Brisbane among prestige buyers.
“It’s now competing for the same discerning owner-occupiers traditionally drawn to riverside locations such as Newstead and Teneriffe, while offering a lifestyle proposition that is uniquely its own,” he said.
Mosaic has already sold over 65 per cent of apartments in the $750 million development within just three months, representing more than $450 million.
Designed in partnership with Bureau Proberts, The Riversdale comprises 213 two and three-bedroom residences across 39 levels and adjoins 7.1ha of former industrial land earmarked to become Brisbane’s next major inner-city waterfront neighbourhood.
Spanning almost 3000sq m across the building, its six-star hotel-style amenity offering includes a resident concierge, guest suites, business facilities and a state-of-the-art wellness centre featuring magnesium pools, yoga and Pilates studios, recovery spaces and a large commercial-grade gym.
At its pinnacle, a two-level rooftop retreat offers a resort-style pool, resident lounges, private dining spaces, immersive entertainment suites and a whisky/wine bar, all designed to maximise sweeping city and river views.
There’s also a dedicated exclusive EV fleet available for residents’ use.
“Buyers at this level are not simply purchasing a residence,” Mr Monahan said.
“They are investing in a highly connected lifestyle that is uniquely Brisbane. South Bank, QPAC, GOMA, West End, the CBD and the river are all within walking distance, and opportunities to secure waterfront homes of this calibre are becoming increasingly rare.”
Mosaic’s pursuit of the site spans almost a decade, reflecting a long-held conviction that this stretch of land could become one of Brisbane’s most compelling destinations.
The company secured the 4282sq m site in 2025.
“We’ve always believed the fundamentals of this location were exceptional: absolute riverfront frontage, immediate access to South Bank and the CBD, and a front-row position within one of Brisbane’s most important urban renewal stories,” he said.
“South Brisbane has long been one of the city’s most desirable destinations, and as the riverfront continues to evolve, we believe it will become even more tightly held.”
Construction has now commenced ahead of schedule with remaining residences starting from $1.98m for two-bedroom apartments and $2.55m for three-bedroom apartments.
