Mosaic Property Group co-founder and managing director Brook Monahan says the new acquisitions underscore Mosaic’s confidence in the resilience of lifestyle-driven markets such as the Gold Coast and Sunshine Coast.
“The strength of these markets has been exceptional since the pandemic,” says Monahan.
“We continue to experience robust demand from both interstate and local downsizers who are seeking luxury apartments that offer thoughtful design, functionality and exceptional quality.
“With limited supply and rising construction costs, Mosaic is well-positioned to lead in this market which is becoming more discerning following many stalled projects as a result of many developers not being able to deliver much awaited supply.
“Our long-established in-house construction arm enables us to manage costs effectively and seize key opportunities.”
Mosaic has delivered more than $2 billion in residential developments across the Gold Coast, Brisbane and the Sunshine Coast over the past decade and has $2 billion worth of residential and mixed-use projects currently under construction or planned for South-East Queensland over the next five years.
The company’s Gold Coast portfolio has hit $1.4 billion with nine completed projects and four currently under construction.
Monahan says Sophia at Palm Beach is shaping up as an “exceptional project” that he expects to sell quickly.
“Positioned on the dunes at the sought-after northern end of Palm Beach, Sophia occupies a premier beachfront site that we believe will be highly desirable,” he says.
“We already have a waitlist of Mosaic buyers from our existing database of previous and current owners, indicating another likely rapid sellout in this very unique location.
“We are very fortunate that our entire project portfolio is consistently near sell-out, reflecting robust and ongoing demand driven by the market’s attraction to our design-led developments.”
Mosaic Property Group was founded in 2004 but rebranded in 2012 and launched by co-founder Monahan and Dave Handley in 2012.
Since then, the company has completed more than 65 projects across South-East Queensland. Mosaic first entered the Gold Coast market in 2018 with the launch of Bela by Mosaic at Mermaid Beach.