Consolidated Properties Group launch Monarch Residences in Toowong
Consolidated Properties Group have officially launched their anticipated Toowong development, Monarch Residences.
The $450 million project on the Brisbane River, which is being delivered in conjunction with funding partner Qualitas, will feature 224 apartments across two 15-level towers at 600 Coronation Drive, the last significant riverfront parcel of land in Toowong.
The project includes the restoration of the heritage-listed 150-year-old Middenbury House and will be set among 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” 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 river homes, 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,” MacGinley 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’s Lord Mayor Adrian Schrinner officially opened the $3 million sales display earlier this week.
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,” 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 are handling the construction of Monarch Residences. The two towers will be built simultaneously, with construction kicking off in March. They should take around two and a half years to build.
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.
Qualitas Global Head of Real Estate and Co-Founder, Mark Fischer said Brisbane remains one of the most undersupplied housing markets in Australia.
"We are pleased to be able to play a role in increasing the supply of high-quality housing in Brisbane”.
“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.”
