A development application has been fast-tracked for a new luxury project in South Brisbane: expected to bring more than 200 riverfront apartments in a building valued at more than half a billion dollars.
Mosaic Property Group recently purchased the north-facing land at 91 Montague Rd, South Brisbane, and lodged their intent to build on the site in early October.
The area is 4,282 sqm large, featuring 35 metres of frontage to the Brisbane River. The eventual development is planned to take up 37 floors, featuring 204 apartments and a series of shared residential amenities. In total, the project’s first stage will have an estimated end value of $500 million.
204 new riverfront apartments are expected to come to South Brisbane, in a luxury development with a first stage valued at $500 million.
The property was secured from Schiavello Group, who had previously owned the site for more than 30 years.
Mosaic is collaborating on the eventual design with Bureau Proberts, and estimates the development will be their largest project to date.
Mosaic founder and managing director Brook Monahan said this was a pivotal step in the company’s growth, and wished to bring a “transformative” project to Brisbane’s inner city.
“Securing a site of this calibre — true north-facing river frontage with expansive views and seamless access to Brisbane’s premier cultural, dining and lifestyle precincts — is exceptionally rare,” he said.
The development application for the building at 91 Montague Rd was fast-tracked, bought from Schiavello Group for $30m.
“For us, this is never business as usual. We are highly selective and will often wait years for the right opportunity, having first engaged with the Schiavello family about this site back in 2018. We only move forward when we have absolute certainty that we can deliver — and deliver to the standard our customers expect and deserve.”
Concept planning has commenced, with the end product geared towards a series of luxury owner-occupier units.
Sales information is expected to come in early 2026, along with further renders, when stage 1 of the project goes up for sale to the public.
Mosaic founder and managing director Brook Monahan said the site was an “exceptionally rare” find, and estimated this would be the company’s biggest project to date.
Concept planning has commenced with Bureau Proberts, with further details to come in early 2026.
Mr Monahan said with major urban renewal planned for the corridor — with access to both West End and the CBD — Mosaic was careful not to overpromise and underdeliver.
“Escalating costs, tighter finance, planning complexity and labour shortages are causing many projects to stall or be shelved,” he said. “For us, customers sit at the top of the pyramid. The strongest validation is the number of return purchasers and referrals we see. That’s the clearest measure we are on the right path.”
Mosaic has completed five luxury developments so far this year, totalling at 450 new homes with a combined value of $580m.
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