Consolidated Properties Group has completed the first stage of construction on Monarch Residences – the largest new apartment project in Brisbane’s western suburbs – backed by almost $300 million in sales, with one of its two towers fast nearing sellout. 
 
Monarch Residences, which is being delivered by Consolidated Properties Group with funding partner Qualitas, was named Brisbane’s best performing project in the latest Urbis report, with the highest number of apartments sold in the July and September quarters.

Monarch Residences is positioned on a 1.2-hectare site on the riverfront in Toowong and upon completion will deliver 224 apartments and penthouse residences across two buildings.
 
Residents will have access to a suite of facilities including a riverside pool, gym and sauna, and an expansive rooftop terrace with dining and entertainment areas.
The $450 million development recently ‘bottomed out’ with earthworks complete to basement level, paving the way for both towers to start coming out of the ground first half of next year. 
 
With towers River 1 and River 2 being built concurrently, it’s anticipated construction of the whole project will be complete by the end of 2025. 
 
Consolidated Properties Group Chairman and CEO Don O’Rorke said work is ahead of schedule due to strong demand from buyers seeking larger riverfront apartments, and the capability of Hutchinson Builders. 

“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 have really gained pace in the lead up to Christmas, as people look ahead to the New Year and consider their property and lifestyle aspirations.
 
“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. 
 
“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. 
 
“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.” 
 
Hutchinson Builders Chairman Scott Hutchinson said the construction site was already a hive of activity, with more workers expected to come on board as the towers stretch skyward. 
 
“We currently have a workforce of about 200 tradies on site, but this will increase to about 400 during peak construction phases,” he said. 
 
“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.” 

For more information or to register your interest, visit https://monarchresidences.com.au/
MEDIA ENQUIRIES, PLEASE CONTACT SHEREE BREUST ON 04214 29716 OR ALISTER THOMSON ON 0401 828 583 

Consolidated Properties Group has a 40-year track record of developing high-quality, landmark retail, commercial and residential projects spanning Australia’s Eastern Seaboard. The privately owned company has delivered over 200 projects valued in excess of $3 billion and is at the forefront of creating places where people love to live, work and shop. These developments range from master-planned residential communities through to apartment, retail, industrial and commercial office projects. The projects are all characterised by exceptional design, uncompromising quality and on time on budget delivery.
 

About Qualitas

Qualitas Limited (Qualitas) is an ASX-listed Australian alternative real estate investment manager with A$5.8 billion¹ of committed funds under management. Qualitas matches global capital with access to attractive risk adjusted investments in real estate private credit and real estate private equity through a range of investment solutions for institutional, wholesale and retail clients. Qualitas offers flexible capital solutions for its partners, and creating long-term value for shareholders, and the communities in which it operates.

Since 2008, Qualitas has been investing through market cycles to finance assets with a combined value of over A$15 billion¹ across all real estate sectors. Qualitas focuses on real estate private credit, opportunistic real estate private equity, income producing commercial real estate and build-to-rent residential. The broad platform, complementary debt and equity investing skillset, deep industry knowledge, long-term partnerships, and diverse and inclusive team of approximately 80 professionals provides a unique offering in the market to accelerate business growth and drive performance for shareholders. www.qualitas.com.au

1. As at 31 December 2022. 2. As at 30 June 2022.