Developer Moves Beyond Byron to Brisbane Clifftop Suburb

Byron Bay-based developer Molti is increasingly shifting its gaze north beyond the town’s lighthouse-adorned cape with a newly sharpened focus on Brisbane’s clifftop Kangaroo Point.

It has secured a 797sq m site in the riverfront inner-city suburb with plans to make its development debut in the Queensland capital.

The high-end residential specialist has tapped architects Bureau Proberts to design a boutique mid-rise apartment scheme for the almost triangular-shaped holding at 4 MacDonald Street.

“We’re looking at doing whole-floor apartments across five to six levels,” Molti co-founder Ben Teague said. “We’re keeping it boutique.

“Given the shape of the site, while it does provide some constraints, it’s a really unique opportunity, particularly from an architectural perspective.

“Our focus will be delivering a development that respects the area’s incredible views of the Story Bridge and elevates the standards of urban design and contributes to the evolution of Kangaroo Point.”

Teague said Molti had identified Brisbane and south-east Queensland as key areas where it wanted to target premium locations in blue-chip suburbs.

“We saw this site and wanted to have a good crack at it, given its riverfront location. It’s a spot that’s going from strength to strength and with the Olympics and everything that’s coming up we just can’t see it slowing down, particularly in that premium space.

“All the data shows the population growth with the internal migration as well as immigration that’s swarming into Brisbane and south-east Queensland.

“But also the government is investing billions in a range of key infrastructure projects in the city, fast-tracking them with the Olympics on the way.

“Now, that can be seen as a bit of a concern from a labour availability and construction point of view but equally it clearly shows confidence in Brisbane and, given all those factors, we just really wanted to get in there.”

▲ The Kangaroo Point site developer Molti has secured for its Brisbane debut that will replace an existing block of six units.

JLL agents Tim Jones and Harry Borger were the marketing agents for the Kangaroo Point site.

“Kangaroo Point is a tried and tested market that continues to deliver benchmark results and strong returns for developers and vendors,” Borger said.

“There have been a number of record sales for penthouse apartments in and around the area, highlighting the strength of the market and the demand for whole-floor riverfront apartments.”

Bookending Molti’s pending Brisbane development curtain-raiser, its project portfolio also includes six sprawling luxury townhouses nearing completion at Noosa on the Sunshine Coast and a planned 19-apartment beachfront development at Bilinga at the southern end of the Gold Coast.

Meanwhile, back in Byron, Teague and Molti co-founder Matt Martino are developing four luxury residences in partnership with former pro surfer and Olympic medallist Owen Wright.