Mirvac’s Mossvale on Manly sells out more than 10 years after launch

Mirvac’s Mossvale on Manly sells out more than 10 years after launch
Mirvac’s Mossvale on Manly sells out more than 10 years after launch

Mossvale on Manly, an award-winning EAST BRISBANE masterplanned development from Mirvac, has sold out with almost 500 homes developed.

However, the development was launched in 2003 and has taken more than 10 years to completely sell out, with almost $24 million in sales over 2013 and releases staggered over the past decade.

Mossvale on Manly is located in Wakerley, 14 kilometres from Brisbane’s CBD, and is bordered by Manly Road and Tilley Road. 

The median house price for Queensland's Wakerley is $664,000, with median asking rent sitting at $540 per week.

The 64 hectare site includes more than 10 hectares of green open space and 4.3 hectares of waterway corridor in its centre.

Mirvac’s Mossvale on Manly sells out more than 10 years after launch

The past 12 months in particular have seen strong sales, explained Mirvac Queensland masterplanned communities development director Russell Berlee.

"As the community neared the finish line, we only had a limited number of properties left to sell with the majority of the homes released in the past year selling prior to construction being completed," said Berlee.

"There was sustained interest right up to the very last sale and, in many cases, we had a number of purchasers wanting the same property, with a wait list in case the sale fell through."

A wide demographic of buyers had been attracted, however those with interest were predominantly young families, downsizers and professional executives. Those living in surrounding suburbs, including Carindale, Manly West and Wynnum, dominated sales as they looked to upgrade into their second or third homes.

Properties were being offered from $650,000. In December, the only properties remaining were those from $705,000.

The project included significantly sized blocks, and houses spanning up to five bedrooms.

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Jennifer Duke

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

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Brisbane House And Land

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