Whopping $210m spent on cityside apartment building during pre-sale

Homeowners have already racked up $210m in pre-sales at one of Kangaroo Point’s major new developments on a site formerly owned by Woolies.

‘The Bedford’, which is expected to be a $324m project by major developer Mosaic, is located at 25 Ferry St – a 3,195 sqm previously under-utilised site.

A render of Mosaic’s new Kangaroo Point Development, ‘The Bedford’.

This is the area’s first major development in more than a decade.

The pre-sale campaign saw more than 600 expressions of interest in what was Mosaic’s strongest early response for a Brisbane development, with a public sales launch planned for late January 2025.

Pre-sales alone saw around 90 homes being sold – more than 70 per cent of the available stock.

Mosaic Founder and Managing Director Brook Monahan said the high pre-sales figures spoke to the popularity of the location and buyer confidence in their brand.

“We are grateful for the opportunity to unlock the full potential of this closely watched site, which has sat dormant for so many years, and to make a lasting impact in Kangaroo Point,” he said.

The site has already received $210 million in pre-sales, before the general public has had the chance to get their foot in the door.

 

The Bedford will be 17 levels tall, featuring 128 residences. These range from two to three-bedroom units, along with penthouse-style sky homes in the upper floors.

Prices for these homes start at $1.3 million, though many of the cheaper homes on the site have already sold out. Remaining two-bedroom apartments begin at $1.55 million, while remaining three bedroom units start at $2.85 million.

Mosaic is collaborating with Brisbane architecture firm BCA to enhance the site, with early construction set to commence in early 2025.

The development will be atop a 2,236 Woolworths supermarket, with a cafe, liquor store and basement parking also attached to the site.

Mr Monahan said the Mosaic team was pleased to be working with Woolworths on building upon the site.

“We’re humbled by Woolworths’ confidence in our team and our vision for this site,” he said.

We’re also pleased to be succeeding where others have faced challenges in bringing this site to life after so long.”

The site is expected to finish construction in 2027, when its new residents will be able to move in.