Consolidated Properties Group’s landmark Toowong development, Monarch Residences, has now completed the first stage of its construction. Presently being built with funding partner Qualitas, completing phase one of Brisbane’s largest new apartment venture in the western suburbs signals a significant milestone.
Backed by more than $300 million in sales, and with one of its two towers nearing sellout, Monarch Residences has been labelled Brisbane’s best-performing project in the recent Urbis report. In their findings, the riverfront development registered the highest apartment sales during the July and September quarters.
On a desirable 1.2-hectare riverfront site in Toowong, Monarch Residences will feature 224 apartments and penthouse residences across two buildings.
The $450 million project will offer residents top-notch amenities encompassing a riverside pool, gym, sauna, and a spacious rooftop terrace fully equipped for dining and entertainment. The precinct will also include a Riverfront Park, cycle path and walkway access, and the contemporary restoration of the historic Middenbury House.
In December 2023, construction cleared the crucial ‘bottomed out’ stage, hinting at an exciting construction phase, with both towers anticipated to sprout from the ground in the first half of 2024.
With towers River 1 and River 2 being built concurrently, the whole project is anticipated to be complete by the end of 2025.
Consolidated Properties Group Chairman and CEO Don O’Rorke said work is ahead of schedule, attributing this swift progress to robust buyers’ demand for larger riverfront apartments and Hutchinson Builders’ impressive capability.
“Monarch Residences is one of Brisbane’s most sought-after addresses, with Urbis data showing this project has accounted for a third of all apartment sales in the city over the past six months,” he said.
“Sales really gained pace in the lead up to Christmas, as people look ahead to the New Year and consider their property and lifestyle aspirations.”
Urbis data confirms Don’s claims, indicating that this project alone contributed to a third of all apartment sales in Brisbane over the last six months. The second tower, River 2, has less than ten residences left for sale, priced from $1.875 million.
On the note of Monarch Residences’ success, Don further clarified that it’s not just because of its picturesque riverfront location or expansive public parkland, but also “with residences created by the best in the business – Wardle and Cottee Parker Architects.”
Scott Hutchinson, Chairman of Hutchinson Builders, revealed that the construction site is already a hive of activity, stating, “We currently have a workforce of about 200 tradies on site, but this will increase to about 400 during peak construction phases.”
All eyes are on this exciting development, which is set to enhance Brisbane’s real estate landscape and present luxurious and lifestyle booming potential for its residents. The entire project is set for completion by the end of 2025.
Three and four-bedroom residences are still available, priced from $1,875,000.
For more information or to enquire about Monarch Residences, click here.
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