Kensington by Mosaic - 36 Sylvan Road, Toowong

Urban recently spoke with Mosaic Property Group founder Brook Monahan about the SEQ market

South East Queensland is arguably experiencing its strongest market in two decades, but it&#39;s not all down to the impact of COVID-19.

Mosaic Property founder and managing director Brook Monahan&nbsp;says&nbsp;the pandemic just brought forward the anticipated boom.

&quot;We had been saying,&nbsp;well before COVID-19 hit, that we&nbsp;expected the market to boom around mid 2021&quot; Monahan said.

&quot;Rather than creating the boom, COVID just brought it forward six&nbsp;months or so.

&quot;COVID just exacerbated existing trends,&quot; Monahan noted, adding that the interstate migration trend had been running hard since early to mid-2018.

&quot;There was nothing new, apart from the fact COVID shone a spotlight on SEQ which had all of the components for a better lifestyle. It&#39;s affordability, solid infrastructure and pipeline and the fact it&#39;s a great place to live were key components of our market before COVID.&quot;

Monahan naturally highlighted the impacts of generous housing stimulus and fiscal support due to the pandemic keeping the property and job market afloat, but stopped short of suggesting those were the only reasons for the current boom times.

<img alt="" height="880" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dawn_main.jpg" width="1200" /> 
Mosaic&#39;s Mermaid Beach development Dawn. Image supplied

He cited the availability of credit and ongoing low interest rates as other key drivers.

There&#39;s also the fact that, apart from those who work in either the retail or aviation fields, many&nbsp;have increased their savings rates with the lack of expenditure on the likes of overseas travel and are putting their money in to the property market. And that&#39;s brought about the best market SEQ has seen in 20 years.

&quot;It&#39;s been a long-time coming,&quot; Monahan says.

&quot;We haven&#39;t seen a genuine broad based boom in SEQ since late 2001, which lasted until around early 2004,&quot; Monahan said.

Monahan just missed the boat on the last boom,&nbsp;founding&nbsp;Mosaic in 2004. But there&#39;s no looking back for Monahan, who initially started off restoring and building Queenslanders in Brisbane&#39;s affluent suburbs some 17 years ago.

Post the GFC, the company moved in to producing higher density projects, albeit relatively low density compared to the rest of the Brisbane market.

The change in demand for the larger&nbsp;owner-occupier hasn&#39;t caught the team cold either. Their projects have always been geared toward owner-occupiers.

The&nbsp;owner-occupier demographic has the key driver of the booming&nbsp;Gold Coast market for the last 12 months or so, with Mosaic seeing some of the quickest sales ever seen in the coastal Queensland hotspot.

Mosaic sold-out their&nbsp;$128 million Bela by Mosaic on Peerless Avenue, so when the opportunity arose to create a project less than 100 metres, Mosaic took the opportunity and launched Dawn.

&quot;We had a heap of buyers who missed out on Bela who were immediately interested in Dawn&quot;, Monahan said. They saw the 30 level, 87 apartment tower, comprising just&nbsp;two and three bedroom apartments, sell out within two weeks of its launch.

<img alt="" height="761" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dawn_mosaic_2.jpg" width="1200" />

Apart from a few buyers from Melbourne and Brisbane buying apartments as a second home, around 75 to 80 per cent were local owner-occupiers.

Mosaic are set to launch a couple more projects in 2021, having all-but sold out of their current portfolio on the market.

They still have a few apartments left in their Toowong project&nbsp;Kensington in Toowong, their&nbsp;eighth&nbsp;project the company have developed in Brisbane&#39;s inner west.

[smartcode_project:default project_id=93863 project_image_fid=160903]

Designed in partnership with&nbsp;Cottee Parker, Kensington by Mosaic will home 63 two and three bedroom apartments and one penthouse over nine levels.

There will be a communal rooftop entertainment area with an infinity-edge pool, sun deck, barbecue and dining areas.&nbsp;

Kensington by Mosaic is not farm from Mosaic&#39;s sold out The Patterson. The 62 apartments, predominantly secured local owner-occupiers, took just four weeks for 90 per cent of the $72 million building to sell last October.

Joel Robinson

COVID didn't trigger the SEQ market boom, it just brought it forward: Five minutes with Mosaic Property boss Brook Monahan

Kensington by Mosaic, designed in partnership with Cottee Parker, will be the eighth project the company have developed in Brisbane's inner west



The South East Queensland&nbsp;developer Mosaic Property is having its busiest period on record.

Fresh off securing a near sell-out of their Mermaid Beach development Dawn in&nbsp;around two weeks, the developer, led by its founder and managing director Brook Monahan, are set to launch yet another project.

Kensington by Mosaic, designed in partnership with Cottee Parker, will be&nbsp;the eighth&nbsp;project the company have developed in Brisbane&#39;s inner west, with more to come, according to Monahan.

&quot;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,&quot; Monahan says.

<img alt="" height="1734" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kensington_mosaic_1.jpg" width="1600" />

&quot;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&#39;s new $450m mixed-use town centre, The Aviary.&quot;&nbsp;

Kensington by Mosaic is not farm&nbsp;from Mosaic&#39;s sold out The Patterson. The 62 apartments, predominantly&nbsp;secured local&nbsp;owner-occupiers, took just four weeks for 90 per cent of the $72 million building to sell last October.

Located&nbsp;across from the heritage-listed Toowong Memorial Park, Kensington by Mosaic will home 63 two and three bedroom apartments and one penthouse over nine levels. There will be a communal rooftop entertainment area with an infinity-edge pool, sun deck, barbecue and dining areas.&nbsp;

<img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kensington_pool.jpg" width="1600" />

The architecture reflects a&nbsp;subtropical theme with over 170 sqm of extensive deep planting and landscaping.&nbsp;

Much like The Patterson, owner-occupiers are expected to be the dominant buyer profile.

Prices start from $610,000 for a 97 sqm two bedroom, two bathroom apartment and 128 sqm for a three bedroom, two bathroom and two car apartment.

The Penthouse&nbsp;

<img alt="" height="889" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kensington_mosaic_3.jpg" width="1600" />

A 230 sqm penthouse&nbsp;boasts an&nbsp;expansive outdoor terrace with northern&nbsp;city, river, hinterland, and parkland views.&nbsp;

Mosaic has&nbsp;approximately&nbsp;$300m in projects currently under construction in Brisbane&nbsp;and another $370m in projects under construction across the Gold and Sunshine Coasts.

The Henry in Indooroopilly is due for completion mid this year, and The Sinclair in East Brisbane and The Patterson in Toowong are due to be finished in 2022. All three Brisbane developments are sold out.

Kensington by Mosaic

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COVID didn't trigger the SEQ market boom, it just brought it forward: Five minutes with Mosaic Property boss Brook Monahan

Tower reveal: Mosaic to launch new Toowong development Kensington by Mosaic

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