Mosaic secures landmark Kangaroo Point development site from Woolworths
Mosaic Property Group, has emerged as the buyer of the development-approved Kangaroo Point site offloaded earlier this year by Woolworths.
Woolworths development arm, Fabcot, had secured approval for an impressive shoptop housing development at 25 Ferry Street, with 128 two and three-bedroom apartments located above a full-line Woolworths, BWS, and a cafe.
The apartments, across a 16-level building, will have city and river views.
Mosaic Founder and Managing Director, Brook Monahan, emphasised the long-term significance of the acquisition.
"This iconic site has been on our radar since 2016, known to many as a dormant opportunity burdened by years of challenges," Monahan said.
"After a thorough 12-month process, we are honoured to have been entrusted by Woolworths to bring this landmark site to life. It is a truly special location."
Monahan said Kangaroo Point has long awaited a project that introduced essential amenities while further elevating the area's architectural landscape.
"Our collaboration with Woolworths is rooted in a shared vision—to seamlessly integrate luxury living with retail convenience, ultimately enriching the lives of residents and the broader community."
The prime 3,197 sqm site in the Dockside precinct has been vacant for over three decades.
"This development is not just about reviving an inactive site—it's about creating lasting value for Kangaroo Point and aligning with Mosaic's long-term vision of delivering exceptional, enduring projects," Monahan added.
“We are looking forward to engaging with the local community to ensure they are well informed of our plans, and how we seek to complement and add value to the area. Our commitment is not only to deliver exceptional outcomes but to foster positive, long-term connections with the people who call this area home.”
The project has already sparked substantial interest, with Monahan noting a strong response within Mosaic's existing network.
"The level of excitement around this development signals its potential to be one of Mosaic's defining achievements to date.
“The Kangaroo Point Peninsula is one of the most tightly held and highly sought-after locations in Brisbane, and for good reason. It has one of the best, if not the best, walk scores in the city, made even stronger now with the completion of the green bridge and soon, with a full-scale grocery store on the horizon.”
Colliers secured the sale on behalf of Woolworths.
Troy Linnane, Residential Development Sites Director, noted that development-approved sites of this scale are very rare, particularly in Kangaroo Point, one of Brisbane's most sought-after riverside suburbs, which led to strong interest in the site from local developers.
True to Mosaic's unique end-to-end business model, the company will oversee the entire development process—from detailed design and construction to long-term asset management.
Since 2012, Mosaic has completed over 65 developments valued at well over $2 billion, with an additional $2 billion currently in its pipeline.
“Mosaic is very grateful to continue moving forward in a market that continues to face serious headwinds, and the delivery of high-quality built form has ground to a halt," Monahan said.
"It is by no means easy, and we are in no way immune to the challenges. Still, it is in many ways what defines our business: our ability to continue delivering premium developments, backed by disciplined processes and an unwavering commitment to our customers and the communities we serve."
Mosaic has submitted a minor change application to the existing scheme designed by Cottee Parker, collaborating with renowned Brisbane-based architects BDA.
Early works are expected to commence in 2025, with project completion slated for 2027.
