This article is from the Australian Property Journal archive
THE release of Mosaic’s $50 million Kensington is being fast-tracked after Its Patterson apartment development in Toowoong sold out.
The nine-storey Kensington by Mosaic, also in Toowong, boasts 63 apartments, including two- and three-bedroom residences, in addition to a 230sqm penthouse. Prices start at $610,000 for a two-bedroom and $875,000 for a three-bedroom while the penthouse is POA.
The decision to fast-track the developments construction commencement comes after the October 2020 release of Mosaic’s $72 million The Paterson, which saw a 90% sell out within four weeks. The 62 apartments were largely bought up by local buyers and most of whom were owner-occupiers.
To be designed in partnership with Cottee Parker, Kensington will be Mosaic’s eighth release in the inner-west of Brisbane.
“We have invested significantly in this particular area over many years and will continue to do so because there is a genuine, sustained appetite for the incredible, effortless lifestyle on offer,” said Brook Monahan, founder and managing director of Mosaic.
Situated across from the heritage listed Toowong Memorial Park, future residents will have access to a rooftop entertainment and recreation area, including an infinity-edge pool, as well as resident and visitor parking that exceeds council requirements.
“Everything you could possibly want is in such close reach, including some of the most significant infrastructure projects of our generation, such as Brisbane Live, the Victoria Park redevelopment, Queensland Wharf, and Toowong’s new $450m mixed-use town centre, The Aviary.
“The location is simply incredible, being directly opposite just under 9ha of beautiful, heritage-listed parkland and a short stroll to the Brisbane River.”
According to Monahan, after the pandemic defying success of The Patterson, Kensington currently has a waitlist of buyers who missed out the October release.
“There is real anticipation for this latest offering. We are delighted to be able to expedite Kensington’s release to fulfil this demand,” said Monohan.
Mosaic currently reports around $300 million of projects under construction in Brisbane, with Indooroopilly’s The Henry due for mid 2021 completion, while East Brisbane’s The Sinclair and Toowong’s The Patterson are due for a 2022 completion. All three apartment developments are sold out.
Additonally Mosaic has a further $370 million of projects under construction across both the Gold Coast and the Sunshine Coast, with the Gold Coast’s $130 million Dawn development selling 95% of residences in two weeks.
