Kangaroo Point is on the cusp of a major transformation. A large-scale mixed-use development is planned for 25 Ferry Street.
Mosaic Property Group has acquired the prime 3,195 sqm site from Woolworths, marking the first large-scale development on the peninsula in over a decade. The site, which has sat vacant for over 30 years, will be transformed into a vibrant hub featuring a new full-scale Woolworths supermarket alongside 128 luxury apartments.
This project promises to breathe new life into the prestigious Dockside precinct. Residents will enjoy the convenience of a 2,236-square-metre Woolworths supermarket, a café, a BWS liquor store and ample basement parking, addressing a long-felt need for local amenities.
Rising above the retail space, Mosaic will construct a 16-storey residential tower offering spacious 2- and 3-bedroom apartments, including luxurious sky homes. Future residents can anticipate breathtaking city and river views, top-tier amenities, and a sophisticated design that complements contemporary living.
Mosaic’s Founder and Managing Director, Brook Monahan, expressed his enthusiasm for the project, highlighting the site’s long-awaited potential. He acknowledged the challenges in bringing this development to fruition and emphasised Mosaic’s commitment to creating a space that benefits residents and the wider community.
This development represents more than just reviving an unused site; it’s about generating enduring value for Kangaroo Point. This underscores the company’s dedication to delivering exceptional and sustainable projects.
Monahan also stressed the importance of community engagement. Mosaic plans to work closely with residents, ensuring they are well-informed about the project and its aim to enhance the area.
The development has already generated considerable excitement, with strong interest reported from within Mosaic’s existing client network. The project could become one of the company’s most significant achievements.
The appeal of the Kangaroo Point Peninsula is clear, with its desirability and convenient location. Completing the green bridge and adding a full-scale grocery store will further enhance its walkability.
Colliers, who facilitated the sale, confirmed the rarity of such a development opportunity in Kangaroo Point. The site’s prime location near the Brisbane River, CBD, and the soon-to-be-completed Kangaroo Point Green Bridge generated significant interest from developers.
True to its comprehensive approach, Mosaic will manage all aspects of the development, from design and construction to ongoing asset management. The company has a proven track record, having completed over 65 developments valued at over $2 billion since 2012, with another $2 billion worth of projects in the pipeline.
Despite current market challenges, Mosaic remains committed to delivering high-quality developments. The company acknowledges the industry’s difficulties but maintains its resilience and dedication to its customers.
Reinforcing its commitment to quality, Mosaic’s internal construction arm recently achieved triple ISO certification in Quality, Environmental, and Occupational Health and Safety Management, placing it among the leading builders in Australia.
This certification assures customers that their homes are being built to the highest standards.
Minor changes to Cottee Parker’s existing design will be submitted shortly. BDA, a respected Brisbane architectural firm, will collaborate on the project. Early works are anticipated to commence in 2025, with completion expected in 2027.
Published Date 10-October-2024