March 22 2023 -
MONARCH RESIDENCES OPENS ITS DOORS
Brisbane’s Lord Mayor Adrian Schrinner has joined Consolidated Properties Group to officially open the multi-million-dollar sales display of Monarch Residences, which is being delivered in conjunction with Qualitas.
From today (March 15), Brisbane apartment buyers will get the chance to have a peek inside the luxury $450 million Monarch Residences development on the Brisbane River in Toowong.
In a show of confidence in the Brisbane apartment market, the developer and its partners unveiled the $3 million sales display, showcasing the luxury riverfront project. The on-site interactive display is a breathtaking experience with expansive river views as well as a full-size kitchen and bar and bathroom, giving buyers the first detailed look into the highly anticipated project.
Monarch Residences will feature 224 oversized apartments across two 15-storey towers at 600 Coronation Drive in Toowong with 130 metres of direct river frontage.
The project includes the restoration of the heritage-listed 150-year-old Middenbury House and will be set amongst 1.2 hectares of landscaped gardens, incorporating the proposed landing area for the new green pedestrian bridge, connecting Toowong to West End.
Consolidated Properties Group chairman and CEO Don O’Rorke said Monarch Residences would set a new benchmark for apartment living in Brisbane’s inner west on one of the best riverfront sites in the city.
“The launch of the sales display coupled with the imminent start of construction represents a vote of confidence in the Brisbane property market” Mr O’Rorke said.
“Buyers are telling us they haven’t seen anything like Monarch Residences in the market, which is why we’ve had such strong interest so far especially from locals.”
Consolidated Properties Group Head of Residential James MacGinley said part of Monarch’s appeal was its range of floor plans for one, two, three and four-bedroom riverhomes, apartments and penthouses.
“We’ve worked closely with our architects –Wardle and Cottee Parker Architects – to curate the right mix to appeal to a broad cross-section of buyers whether they are downsizing or right sizing. The common link across the buyers is they are all locals who understand the value of a piece of real estate that can’t be replicated in Brisbane’s inner west,” he said.
“There’s no better connected site in Brisbane especially when you consider the rail, bus, ferry, pedestrian and cycleway linkages as well as the future green pedestrian bridge.
“The landscaped gardens, including 3000 square metres of public parkland, will make people forget they are right on the doorstep of one of Brisbane’s major centres.”
Brisbane Mayor Adrian Schrinner said the proposed green bridge would connect Toowong to the West End and make it easier for residents to move around the city.
“This bridge would provide further options to cyclists and pedestrians to travel between Brisbane’s west, south and the CBD and further enhance Brisbane’s world-class Bicentennial Bikeway,” Cr Schrinner said.
“Our collaboration with Consolidated Properties Group is an important example of council and business working together to achieve outcomes to benefit the whole community including much needed housing and infrastructure.
“That’s why I’m pleased to be here today to help launch the sales display for Monarch Residences, which is an important addition to the housing market in Brisbane.”
Hutchinson Builders chairman Scott Hutchinson said construction on the two towers, which will be built simultaneously, would begin in March and take about two-and-a-half years to complete.
“We’re looking forward to delivering another great project for Consolidated Properties Group and building on a partnership that has lasted more than 25 years,” Mr Hutchinson said.
Consolidated Properties Group purchased 600 Coronation Drive for $43.5 million from Sunland in March 2021. The development application was filed in November 2021 and approved in July last year.
It is undertaking Monarch Residences with Qualitas, which is the project’s funding partner acting on behalf of its managed funds.
Qualitas Global Head of Real Estate and Co-Founder, Mark Fischer said: “Brisbane remains one of the most undersupplied housing markets in Australia and we are pleased to be able to play a role in increasing the supply of high-quality housing in Brisbane”.
“The residential sector is a core investment theme for Qualitas, which has invested in or financed over 10,000 new residential dwellings across Australia and New Zealand since its inception in 2008.”
Mr Fischer added: “Thematically we like investments in established and well-connected neighbourhoods, with rail, bus, ferry, pedestrian, and cycleway linkages, plus the future green pedestrian bridge. It is rare that this dynamic presents in a sought-after location like Brisbane’s inner west and on one of the best riverfront sites in the city.”
“Market-leading product quality and creation of community will be the determining factors of successful residential projects over the coming years and Consolidated Properties Group, along with Wardle and Cottee Parker Architects have designed Monarch Residences to deliver that.”
For more information or to register your interest, visit https://monarchresidences.com.au/.