THE first stage of construction on Consolidated Properties Group’s Monarch Residences in Brisbane’s west is now completed, with almost $300 million in sales achieved at the $450 million project.
Developed by Consolidated Properties Group with funding partner Qualitas, Monarch Residences is the largest new apartment project in Brisbane’s western suburbs, with one of the two towers already approaching sell-out status.
“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,” said Don O’Rorke, chairman and CEO at Consolidated Properties Group.
“River 2 now has less than 10 residences remaining for sale, all of which are home-size three-bedroom floorplans, with prices starting from $1.875 million.”
Located on a 1.2-hectare site on the riverfront in Toowong, around 4.9km out from the GPO, the project comprises 224 apartments and penthouse residences atop the two buildings.
Future residents will also benefit from access to facilities including a riverside pool, gym and sauna, and a rooftop terrace with dining and entertainment areas.
“Monarch Residences has been so successful because it is unique in terms of both its location on the riverfront surrounded by expansive public parkland, and its offering – with residences created by the best in the business – Wardle and Cottee Parker Architects,” added O’Rorke.
“As the towers start to come out of the ground, I expect interest will ramp up even further, as prospective buyers will be able to see the project taking shape.”
Earthworks are now complete to basement level, making room for the towers be constructed over first half of 2024.
The towers—River 1 and River 2—are being built concurrently, with construction by Hutchinson Builders anticipated to be complete by the end of 2025.
“We currently have a workforce of about 200 tradies on site, but this will increase to about 400 during peak construction phases,” said Scott Hutchinson, chairman at Hutchinson Builders.
“Most of our tradies are local to South-East Queensland, so a project like this is an exciting opportunity to be part of creating what will be a landmark community for Brisbane.”
