Mosaic putting pieces together
BRISBANE developer Mosaic Property Group is planning an $81 million apartment project after piecing together a site at Mermaid Beach.
The group paid $7.025 million for the 1797sq m parcel at 43-49 Peerless Ave in an offmarket transaction involving four separate properties.
Mosaic managing director Brook Monahan said the group was thrilled to acquire the parcel and was eager to buy more sites in key Gold Coast beachside hubs.
“The location is outstanding in terms of its proximity to the beach, future light rail, major shopping, public transport and the casino,” Mr Monahan said.
“We’ve identified enormous potential in these up-andcoming beachside suburbs and we are actively seeking more development opportunities along the Coast.”
Mr Monahan said the planned project would have approximately 90 apartments with many offering uninterrupted ocean views.
“The site is unique in that the properties to its south have a three-storey height restriction, meaning that our building will offer permanent water views from level above,” he said.
The unnamed tower is the second Gold Coast project for Mosaic, which is progressing a boutique housing development, Elm by Mosaic, at Ormeau.
Mosaic’s $7 million spend at Mermaid Beach was managed by Antonio Mercuri from GV Property Group, and Nick McHutchison and Jamie-Lee Edwards from Kollosche Prestige Agents.
The rapidly expanding group is based in Brisbane and has an office on the Sunshine Coast. four and