Byron Bay developer Molti has secured development approval for a boutique luxury apartment project at Kangaroo Point in inner Brisbane with the company revealing that inquiries for the full-floor apartments have been strong since the project was first announced late last year.
The as-yet-unnamed project is the first in Brisbane for Molti, which was founded in 2021 by Ben Teague who has since then undertaken projects at Noosa and his home base of Byron Bay.
The proposal comprises five full-floor apartments that will offer “box seat views of the river, CBD and iconic Story Bridge”.
Carr Design has been enlisted to work with project architects Bureau Proberts to design the luxury interiors as Molti seeks to capitalise on record prices being achieved in the Kangaroo Point riverfront precinct.
Each apartment will span 350sqm and the penthouse will feature a rooftop entertainment area with infinity pool.
While prices for apartments have yet to be confirmed, Molti says demolition works will begin on the site in the next few months with plans to start construction later this year.
"We are confident that what we're bringing to Kangaroo Point will captivate luxury property buyers and become a cherished future heirloom for its residents," says Teague, the managing director of Molti.
"The collaboration between Bureau Proberts and Carr Design is a market first and will deliver a collection of five extraordinary full-floor homes that truly stand apart.
"This development offers a front-row seat to Brisbane's iconic river and glittering city lights, crafted by some of Australia's most exceptional design talent."
The lure of luxury developments at Kangaroo Point was boosted last year by a $14 million off-the-plan sale of a two-level penthouse in Sorano House being undertaken by Sydney developer Trezetto Developments. The sale set a Brisbane record internal square metre rate of $45,000, with the broader project achieving an average of $30,000 per square metre.
"The luxury market in Kangaroo Point is one of the most tightly held in South-East Queensland, with buyers recognising that the riverfront position, city views and connectivity make this one of Australia's most unique real estate locations," says Phillip Rand, sales director at Whitefox Brisbane which is project marketer for the new Molti development.
"With just five exclusive residences on offer at MacDonald Street, this development is defined by its rare positioning and impeccable design team.
"This site was a unique opportunity that rarely comes to market, and what Molti and the team at Bureau Proberts and Carr Design are creating here will be testament to that, a true one-of-one opportunity.”
The project is located on a 797sqm site at 4 MacDonald Street which is currently occupied by an older three-storey walk-up apartment building.
Molti plans to officially launch the project in the next few months.
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