This article is from the Australian Property Journal archive
MOSAIC Property Group’s $72 million development, The Patterson, has sold 90% of apartments in six weeks.
Following the Group’s early 2020 launch of its $92 million The Sinclair in East Brisbane that sold over 85% during the Covid-19 pandemic, all but approx. 10% of the 62 apartments in The Patterson have sold during trying pandemic conditions.
The 16-level development in Brisbane’s inner-west, saw particular interest from empty nesters and down-sizers, seeking a property in close proximity to retail, entertainment and dining.
The site was designed in partnership with Rothelowman architecture firm, with apartments ranging from 96sqm for two-bedrooms and 243sqm for a three-bedroom space.
“Several clients have amalgamated two properties to create ultra-luxurious Sky Homes, some boasting 300sqm of total living space. You simply cannot find anything that compares in the inner-west,” said Brook Monahan, Mosaic Property Group founder and managing director.
Amenities will include a ground floor café, health and wellness centre, wine room, library, a rooftop recreation level, an infinity-edge pool, fire pit and private dining, as well as a concierge service.
The Patterson is set right by the Brisbane River, Bicentennial Bike Path, Toowong Village, the new $450 million Toowong Town Centre and the planned Toowong to West End Green Bridge. It is also in close proximity to Queensland University of Technology, Wesley Hospital and Indooroopilly Shopping Centre.
“There is a real appetite from people chasing the incredible offerings of Brisbane’s inner-west, which is why we have invested so much in this area over many years and will continue to do so.
“Over 60% of buyers are from the immediate and surrounding area, demonstrating the confidence they have in the calibre of what we are consistently delivering. It is great news for those who moved quickly and purchased early as this is a project that will be very challenging to replicate in the future,” said Monahan.
Mosaic currently has a $1 billion pipeline of projects to be completed across South East Queensland over the next three to four years. Additionally, the Group has five developments with expected completion dates in 2021, with a combined value of over $400 million.
“September saw Mosaic achieve the highest number of sales in our history across our three core markets and we are continuing a similar trend into Christmas,” said Monohan.
The Patterson has a limited number of residences still available with 2-bedroom apartments priced from $720,000 and 3-bedroom apartment from 1,505,000.
The Mosaic development is due for completion in mid-2022.
