Hutchinson completes earthworks at Consolidated Properties' Toowong apartment development, Monarch Residences
Consolidated Properties Group has completed the first stage of construction on Monarch Residences – the largest new apartment project in Brisbane’s western suburbs.
One of the two towers in the Coronation Drive project in Toowong is approaching a sellout, with $300 million in sales across the whole development to date.
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."
WATCH: Why owner-occupiers have embraced Consolidated Properties Group's Monarch Residences in Toowong
O'Rorke says the development 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.”
