Mosaic Sets New Suburb Record, Selling an Off-the-Plan Apartment for $11 Million

• Mosaic Property Group has set a new South Brisbane off-the-plan sales record at The Riversdale for $11 million, more than 50% above the suburb’s previous record.  

• The $750 million riverfront development has achieved over $450 million in sales within three months.  

• Construction is underway, with The Riversdale set to become the first major residential development delivered within Brisbane’s next significant riverfront urban renewal precinct.

An astute purchaser has created a new suburb record for South Brisbane, buying an apartment off the plan for $11 million at Mosaic Property Group’s latest luxury development, The Riversdale at 91 Montague Road. 

The sale is understood to be the highest price ever paid for an apartment in South Brisbane, smashing the previous record of $7.75 million for 3002/66 Hope Street in July last year.   

It also surpasses the suburb’s off-the-plan record of $7.25 million paid for a 4-bedroom, 3-bathroom apartment at 2901/66 Hope Street set in August 2025. 

The record sale was a result of the buyer combining two separate residences to create a grand-scale 394sqm, 4-bedroom, 4.5 bathroom home. 

“This is a defining moment for South Brisbane and further validation of Mosaic’s approach to creating highly considered luxury residences in Brisbane’s most sought-after locations. At $11 million, this sale follows the $11.78 million penthouse transaction achieved at The Bedford last year and reflects the confidence buyers have in the calibre of homes we’re delivering.” 

“The significance of this result extends beyond the sale itself. It reinforces a conviction we’ve held for many years that this former industrial stretch at the northern end of Montague Road would become Brisbane’s next great residential riverfront destination. We’re proud to be leading that transformation through the delivery of The Riversdale.” 

“This transaction reflects the growing appeal of South Brisbane among prestige buyers. It’s now competing for the same discerning owner-occupiers traditionally drawn to riverside locations such as Newstead and Teneriffe, while offering a lifestyle proposition that is uniquely its own.” 

Mosaic has already sold over 65% of apartments in the $750m development within just three months, representing more than $450 million. 

Designed in partnership with Bureau Proberts, The Riversdale comprises 213 two- and three-bedroom residences across 39 levels and adjoins 7.1 hectares of former industrial land earmarked to become Brisbane’s next major inner-city waterfront neighbourhood. 

Spanning almost 3,000sqm across the building, its six-star hotel-style amenity offering includes a resident concierge, guest suites, business facilities and a state-of-the-art wellness centre featuring magnesium pools, yoga and Pilates studios, recovery spaces and a large commercial-grade gym.  

At its pinnacle, a two-level rooftop retreat offers a resort-style pool, resident lounges, private dining spaces, immersive entertainment suites and a whisky/wine bar, all designed to maximise sweeping city and river views. 

There’s also a dedicated exclusive EV fleet available for residents’ use. 

Widely recognised as Queensland’s cultural and lifestyle heart, South Brisbane is entering a new chapter as former industrial land gives way to a new generation of transformative urban renewal.  

The Riversdale will be the first major residential project delivered as part of this transformation. 

“Buyers at this level are not simply purchasing a residence,” said Mr Monahan. 

“They are investing in a highly connected lifestyle that is uniquely Brisbane. South Bank, QPAC, GOMA, West End, the CBD and the river are all within walking distance, and opportunities to secure waterfront homes of this calibre are becoming increasingly rare.”

Mosaic’s pursuit of the site spans almost a decade, reflecting a long-held conviction that this stretch of land could become one of Brisbane’s most compelling destinations. The company secured the 4,282sqm site in 2025. 

“We’ve always believed the fundamentals of this location were exceptional: absolute riverfront frontage, immediate access to South Bank and the CBD, and a front-row position within one of Brisbane’s most important urban renewal stories,” he said. 

“This sale demonstrates the growing maturity of Brisbane’s prestige apartment market and the strength of demand for homes that offer true scarcity. Buyers are increasingly seeking larger residences, exceptional outlooks, privacy and locations that will remain relevant and highly sought-after for decades to come. 

“South Brisbane has long been one of the city’s most desirable destinations, and as the riverfront continues to evolve, we believe it will become even more tightly held.” 

Sale velocity has led to construction commencing ahead of schedule by Mosaic’s highly awarded internal building arm. Remaining residences start from $1.98m for two-bedroom and $2.55m for three-bedroom.