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Melbourne’s Kokoda Property, gearing up to start construction of its Skyring Terrace development in Brisbane, has secured IHG Hotels & Resorts’ boutique luxury brand, Kimpton Hotel, to anchor the $1.5 billion mixed-use project planned for the riverfront at Teneriffe.
The agreement with IHG marks the US-born Kimpton Hotel’s debut in the Queensland market with plans to deliver a 155-room hotel, including a marquee suite for celebrities and VIPs.
The property will also feature a 200-plus-seat signature restaurant and bar on Level 14, a spa with multiple treatment rooms, fitness centre and 618sqm of multi-purpose meeting and event spaces.
Kokoda is proposing a triple-tower project for the 1.76ha site at 27 Skyring Terrace, one of the last remaining sites in the Teneriffe area along the Brisbane River.
Kimpton Hotel will take advantage of the site’s 200 metres of river frontage by offering guests absolute waterfront access and views, including an infinity pool overlooking the Brisbane River and an open-air garden terrace bar.
“The Kimpton brand was the ideal choice for, and will be the centrepiece of, our striking Teneriffe development,” says Kokoda Property founder and managing director Mark Stevens.
“The brand’s lifestyle centric positioning, design and playful guest experiences will fit perfectly into this exciting and unique pocket of Brisbane.
“We’re excited to play a part in the transformation of the historic suburb of Teneriffe from its industrial origins into one of the trendiest suburbs of Brisbane.
It’s a popular year-round hub for fitness and is set to get even better with Skyring Terrace to connect Brisbane’s famed riverwalk between Teneriffe and New Farm and become the cultural heartbeat of the lively area.”
The Skyring Terrace development is the largest undertaken by Kokoda after the company acquired the site for $100 million last year. The project has swollen the company’s development pipeline to a total of $2.5 billion in Queensland and Victoria.
Kokoda Property sees the Kimpton Hotel agreement as a milestone for the company that aligns with its vision for the Skyring Terrace project which aims to capitalise on the premium apartment market in inner Brisbane.
The company’s development plan for the site comprises 380 luxury apartments, some of which will include wool store-style lofts, reflecting the industrial heritage of the area.
Kimpton Hotel will be front and centre of a new lifestyle precinct that will include a large plaza, extended riverwalk and laneways throughout with active public spaces, complemented by 15 office tenancies totalling 2,350sqm plus a 2,729sqm retail and dining precinct.
Kimpton opened its first hotel, the Kimpton Margot Sydney, in 2022 billing it as a property where “heritage-listed Art Deco architecture meets modern Australian style and signature Kimpton service”.
The brand was founded in San Francisco in 1981 by Bill Kimpton with a founding philosophy of a hotel property that feels like home but with an extra layer of pampering.
IHG acquired the brand, which operates 81 hotels worldwide, in 2015.
Commenting on the new Brisbane property, Cameron Burke, the IHG director of development for Australasia and the Pacific, says his team is looking forward to working with Kokoda Property deliver an “unprecedented hospitality offering to the river city”.
“Kimpton has an ardent global following amongst the lifestyle-led and socially inclined, which will resonate strongly as part of the Skyring Terrace precinct and within Brisbane’s luxury hotel market,” says Burke.
“We’re thrilled to be partnering with Kokoda Property in pursuit of our common vision to elevate the hospitality space in South-East Queensland.”
Kokoda expects construction to start on Skyring Terrace in 2025, with completion scheduled for 2028.
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