Mosaic Property Group 2019 Wrap-Up

Our portfolio of projects across South East Queensland continues to expand, now numbering over 40 completed, 12 underway or planned, and a total combined value of over $1.2 billion. Adding to this, we have strengthened our position in the market with our unrelenting focus on exceptional boutique residential design. We’re also seeing sentiment continue to pick up as South East Queensland steps out of the shadows ready to lead Australia’s next property cycle.

It has been a true watershed year for Mosaic with significant project launches, market-leading sales performance, multiple project completions and further industry recognition. As such, I wanted to take a moment to share a summary of our key achievements for 2019.

Project Round-Up

The Eminence, Fortitude Valley – Our first large-scale commercial endeavour and new Mosaic HQ, developed in partnership with Pellegrino Group Australia, is rapidly advancing towards a first quarter 2020 completion. It truly is shaping up to be a striking new addition to the popular James Street/city fringe precinct and we look forward to celebrating its official unveiling with you once we have moved in.

Avalon, Maroochydore – Now well under construction, the $106 million Avalon project is over 75% sold and on track for an early 2021 completion. The ultra-luxurious Azure building, our first Masterpiece Series, is sold out, achieving record sale prices up to $6 million. A limited number of apartments remain in Arbor, with no sign of demand for the project slowing.

Bela, Mermaid Beach – It has been an incredible year for Bela, the top-selling off-the-plan project for the Gold Coast in 2019, and one of the best-selling in Australia – no mean feat for our first high rise development for this region. The $126 million project is already over 75% sold and we have officially kicked off construction, which has resulted in a fresh injection of buyer interest driven by the fact that, unlike so many developments on the Gold Coast, Bela is becoming a reality.

Amparo, Taringa – Amparo is making some exciting construction progress and already at just level three, we can see the incredible city and suburban views that residents are going to enjoy in this highly exclusive Inner-West address. Only a few apartments remain and as the building continues to take shape, with its striking architecture and exclusive appeal, we are very confident the last apartments will be secured by local owner-occupiers prior to completion.

Sayre, Windsor – All but sold out, Sayre has been a real quiet achiever for us, experiencing a strong rate of sale without any major investment in advertising or promotion. It is a testament to the strength of the design, location, Mosaic’s reputation and our sales team that we have been able to realise this outcome. In fact, Sayre featured in Australia’s top ten selling projects for the March quarter. Construction is advancing well and we are on track for completion in the latter half of next year.

Drift, Coolum –  Settlements are now underway at the $52 million Drift which has led the luxury revolution for Coolum, selling out within a matter of months of launch. Already the feedback from the community and those who are moving into their new homes has been overwhelmingly positive.  Owners are already experiencing an uplift in the value of their apartments relative to what they paid.

Vive, Indooroopilly – Vive continues our humbling track record of a 100% sell-out before completion, 100% settlement rate and 100% lease rate for every Mosaic project ever delivered. The feedback from buyers and tenants has been nothing but exceptional thanks to the unwavering commitment of Mosaic Construction to ensure we keep consistently delivering high quality, beyond customer expectations.

Curio, Upper Mt Gravatt – Selling out well in advance of its December 2019 completion date, Curio is set to be a sophisticated new addition to the area. Valuations are all but complete and we look forward to the same settlement and leasing success experienced on Vive.

New Project Launches

The Henry, Indooroopilly – Our fifth development for Indooroopilly, The Henry has been an outstanding success, with more than half of its 55 apartments sold in just over three weeks. Our reputation and the amazing market acceptance of neighbouring Vive has been a strong driver of this result. Construction is set to commence in early 2020.

First Bay, Coolum – With near 700 enquiries in just over eight weeks, First Bay, featuring 38 apartments, is one of our most anticipated releases to date, helped largely by the success of Drift. First Bay features our second Masterpiece Series – an ultra-exclusive collection of only 13 beachfront residences within the project. Approximately 50% of these luxury apartments have reservation forms secured already, ahead of the much-anticipated project launch.

Élan, Kirra – Another standout success for Mosaic – with over 70% sold in under a month. Our second Gold Coast apartment project, Élan features 31 luxury apartments in a quiet enclave of iconic Kirra Beach, boasting magnificent views of the Pacific Ocean – all the way across to Surfers Paradise.

The Sinclair, East Brisbane – We are gearing up for an early 2020 launch of what will be a benchmark boutique residential project, not only for Mosaic but for Brisbane. With a prestigious Inner-East location, only 2.5km to the CBD, The Sinclair features 122 apartments across two eight-story buildings (joined by an innovative sky bridge and large interconnecting foyer), ground floor retail and a vast array of five-star resident amenity.

Awards & Recognition

I am very proud and humbled to lead a team that continues to be recognised as leaders in their field, helping to deliver exemplar, award-winning projects. This year was no exception and we have now built a record of achievement that positions us as one of the most awarded private property developers in Queensland.

• Winner – Community Engagement – Drift by Mosaic, UDIA Qld Awards for Excellence
• Winner – Residential Building (high-rise over 3 storeys) up to $20 million, Cyan by Mosaic, Master Builders Sunshine Coast
• Winner – Residential Building (high-rise over 3 storeys) over $20 million, Solis by Mosaic, Master Builders Sunshine Coast
• Winner – Exceptional Young Woman in Construction, Jessica Dippel, Mosaic Construction, HIA Recognition of Women in Building & Construction
• Finalist – Marketing Excellence – Azure by Mosaic, UDIA Qld Awards for Excellence
• Finalist – Affordable Small Scale Development – Greenhills by Mosaic, UDIA Qld Awards for Excellence
• Finalist – Residential Building (high-rise over 3 storeys) up to $20 million, Cyan by Mosaic, Master Builders Queensland
• Finalist – Residential Building (high-rise over 3 storeys) over $20 million, Solis by Mosaic, Master Builders Queensland

Mosaic Property Group’s brand video, the result of months of work, also received five medals at the prestigious Brisbane Advertising and Design Club (BADC) Awards – a worthy acknowledgment of the people behind this beautiful piece that sets the tone for our business.

Of all the recognition we have received this year, I feel particularly proud of our UDIA Qld Award for Community Engagement for Drift in Coolum. We are so committed to working with local stakeholders on what we deliver that we have invested significantly in our Community Engagement team to ensure we achieve real and tangible engagement. We are also proud to have helped the UDIA Qld pioneer a structured research program on this topic as part of its Industry Leaders’ Research Group.

Mosaic is the only private developer to have won this award and to win it for a project in Coolum on the Sunshine Coast – an area well known for its views on development – is a real credit to our team. We will continue to push the boundaries on this important front to ensure we keep learning and improving what we do as well as to share our experience with the industry.

As always, we are humble in our success and proud of the team of exceptional people who work tirelessly for us, and with us. Thank you for another great year.