Developer Mosaic has achieved more than $90 million in sales within five weeks for its Lily luxury apartment project at Broadbeach on the Gold Coast.
The developer will kick off construction well ahead of its anticipated schedule due to the strong sales activity.
The project will comprise 98 homes across 29 levels and will offer uninterrupted ocean views.
The development will feature a gym, sauna, steam room, resort pool, barbeque and dining spaces, and a top-floor Residents’ Lounge with a luxurious kitchen, dining space, library, and workstations.
“Based on the performance of our previous nine high-end developments released and delivered to the region, we were optimistic about the market responding positively to Lily,” Mosaic’s Founder and Managing Director Brook Monahan said.
“That said, we didn’t expect such a tremendous result quite so quickly, especially before public release. Similar to Marella, the bulk of sales have come from our VIP database, including repeat buyers, referrals, and many who have been following Mosaic for some time now.”
Mosaic’s recent $166m project Marella sold out in less than six months, with buyers snapping up nearly all 98 properties at an average price of $1.7m.
Monahan said that the appetite for luxury living experiences on the Gold Coast outstripped the limited supply of properties built or under construction and will do so for some time.
“Buyers are very conscious of the construction sector’s ongoing volatility due to supply chain issues and material and labour costs, and given this, much of the perceived supply will likely not eventuate at any point in the medium-term future. It’s another reason so many have quickly recognised the enormous opportunity to secure their dream home at Lily – especially now building works are underway,” Monahan said.
Lily marks Mosaic’s third partnership with Plus Architecture, with whom they collaborated with on Marella, and Dawn by Mosaic in Mermaid Beach.
Lily is Mosaic’s tenth Gold Coast release in under four years, at a combined value of around $850 million.
Mosaic has 12 active construction sites across Southeast Queensland, set to deliver over 770 new homes in the next two years.
“The coming 12 months will be exciting and significant, with several premium addresses across Southeast Queensland completing, as well as Mosaic unveiling more one-of-a-kind luxury opportunities in Brisbane, the Gold Coast, and the Sunshine Coast,” Monahan said.
“However, for now, with the amazing momentum generated by Lily’s swift sales, we encourage prospective buyers to act quickly to secure one of the remaining opportunities in this prestigious, world-class development.”