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Melbourne developer Kokoda Property has unveiled plans to transform Brisbane’s riverfront precinct at Teneriffe with a $1.5 billion triple-tower mixed-use development that will deliver apartments, a boutique hotel and a new inner-city dining precinct.
Kokoda Property, which now has a development pipeline of $2.5 billion in Queensland and Victoria after acquiring the Teneriffe site earlier this year for $100 million, plans to convert the former industrial land into a major new lifestyle development that will include just under a hectare of open public space.
The Kokoda site at 27 Skyring Terrace comprises 1.76ha with a 220-metre Brisbane River frontage, with the proposal set to transform the long dormant site previously used as a depot for sand and gravel dredging for half a century.
“It is an opportunity to create something special for Teneriffe and the broader neighbourhood that speaks to the history, quality, and sensitivities of the local area,” says Kokoda founder and managing director Mark Stevens.
“Kokoda Property is passionate about providing riverfront amenity on this site and we are committed to creating a contemporary, welcoming place that extends Teneriffe’s culture to the riverfront.”
Kokoda Property has lodged a development application with the Brisbane City Council for the project with the plans revealing a three-tower development that will deliver 380 luxury apartments comprising one, two, three and four-bedroom layouts. The apartment designs will include wool store-style lofts, reflecting the industrial heritage of the area which was transformed decades ago through the conversion of the former wool store wharf precinct into apartments.
The project also proposes a 9,149sqm boutique hotel, a large plaza, extended riverwalk and laneways throughout with active public spaces, and 15 office tenancies totalling 2,350sqm plus 2,729sqm allocated to a retail and dining precinct.
Kokoda Property has enlisted Cottee Parker Architects, Carr, Urbis Town Planning and Landscaping as design partners for the project.
Among the key community benefits of the project is the extended riverwalk which will improve active transport connectivity for walkers, cyclists and other modes of transport, while new laneways will provide links through the site to the ferry terminal and CityGlider bus stop. An additional pathway will be provided for public access on the site’s northern boundary, connecting the newly extended riverwalk back to Skyring Terrace.
Kokoda Property, which largely focused on its home market of Victoria until 2018, has completed two high rise residential developments in Brisbane since then, comprising the $300 million Chester & Ella at Newstead which was completed in 2019 and The Ambrose, a $165 million residential project at Milton.
The Teneriffe project is the largest the company has undertaken in Brisbane and, pending council approvals, Kokoda plans start construction in late 2024.
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