Mosaic ramps up with Gold Coast acquisition

Southeast Queensland developer and builder Mosaic Property Group has committed to an expansion of its Gold Coast pipeline with the acquisition of a beachfront site overlooking Palm Beach.

The land along the Gold Coast Highway had been in the same family for almost 90 years and currently holds an older residential complex.

It will make way for an ultra-luxury boutique apartment tower that is being conceived by architecture firm Bureau Proberts, offering “homesized, meticulously-crafted residences” with high-end amenities on the edge of the sand.

Mosaic’s founder and managing director Brook Monahan said the business was actively seeking sites across Queensland’s southeast corner.

The business’s construction portfolio is currently valued at more than $1.2bn across 10 projects, translating to the delivery of 750 luxury homes within the next two years.

“We’re excited to have the opportunity to create another collection of beautiful homes to fulfil the strong sustained demand for Mosaic product on the Gold Coast,” Mr Monahan said. “We’re highly selective and strategic in our site acquisitions.

“Any opportunity undergoes a painstakingly detailed evaluation and extensive investment into relationships with locals to ensure the outcomes align with our vision for luxury living and long-term growth.

“This approach takes time, but it ensures we create exceptional quality and value for our customers while contributing meaningfully to the communities we are lucky to be a part of.”

“This is such an incredible, rare, ideally positioned piece of beachfront real estate and we feel fortunate that the current ownership group chose Mosaic to be the best custodians of this amazing beachfront land that had been in their family for almost 90 years.”

Mosaic Founder & Managing Director, Brook Monahan

The value of the deal has not been disclosed. Construction is expected to begin in 2025.

The 20-year-old company has completed six premium projects on the Gold Coast in the past three years alone after taking advantage of the region’s spectacular boom through the pandemic. These projects include Dawn by Mosaic in Mermaid Beach, Bianca by Mosaic in Bilinga, and Luca by Mosaic in Kirra, all having wrapped up between late 2023 and early 2024.

Five other all-but-sold-out projects totalling 275 luxury apartments are currently under way throughout the region, with the value of work totalling $650m.

Mr Monahan said one of the company’s strengths is that it builds all of its own projects with its in-house building firm, Mosaic Construction.

Given the sector continues to grapple with escalating costs and labour shortages, the development boss says this helps to build trust with buyers and ensures the timely completion of work.

“This is an industry where trust and reliability are paramount, and we take great pride in having never failed to deliver,” Mr Monahan said. “This unwavering commitment to project execution is especially crucial in the current climate, where serious challenges to delivery persist.

“While Mosaic is in no way immune to these challenges, our integrated approach allows us greater control over risk factors, ensuring a smoother journey from inception to fulfilment.

“This assurance of completion is critical to our customers, giving them confidence that their dream homes will actually be delivered as promised.”

Construction is expected to begin in 2025. The design is to be within the area’s height restrictions, and Mosaic hopes to expedite approvals with a Code-Assessable Development Application.