Mosaic Property tower to be 80-to-90 per cent sold by October launch
The Courier Mail – 1/9/2020
Construction of a sleek luxury tower on Brisbane’s westside has been fast-tracked, with developer Mosaic Property claiming its units are likely to be 90 per cent sold by October.
The Patterson, located on the corner of Archer St and Coronation Drive at Toowong is set to start construction in March, three months earlier than anticipated pre-COVID.
The 16-storey tower is the latest in a series of projects by the southeast Queensland-based developer to push ahead despite the COVID-19 pandemic, with apartments to be released to the market on October 1.
“We’re already 65 per cent sold (in pre-sales),” Mosaic founder and managing director Brook Monahan said of the tower’s 66 units.
“By the time it gets to market in October, we’ll be somewhere between 80 to 90 per cent sold.”
Mosaic’s other project, Sinclair in East Brisbane, is now over 80 per cent sold and will start construction this week.
Renders provided exclusively to The Courier-Mail show The Patterson’s rooftop pool and sundeck, with the tower’s “challenging” design and site taking architects Rothelowman 20 attempts to get right.
Mr Monahan claimed the blockbuster sales showed confidence in Brisbane’s real estate market was improving, especially in the “premium downsizer market.”
“The overall picture is incrementally improving,” Mr Monahan said.
“Most people are starting to realise it’s not the end of the world, it’s not apocalyptic.”
The tower is also in a sentimental spot for Mosaic Property, with Mr Monahan saying its site was formerly Mosaic’s first Brisbane headquarters 17 years ago.
He said it was one of Brisbane’s most in-demand suburbs.
“It’s got rail, bus, river CityCats, a shopping centre, probably the best university right next door in Saint Lucia,” he said.
The Courier Mail – 1/9/2020