This article is from the Australian Property Journal archive
LUXURY developer Kokoda Property has spent circa $11 million on a second site in Brisbane’s Milton, earmarked for a new apartment offering.
The 1,640sqm plus Crombie Street site is set for a new Cottee Parker-designed project comprising 160 apartments across 22-storeys, with residential amenities including a rooftop pool, private dining, a health and wellness space and gym.
“Brisbane is a market primed for growth and Kokoda is excited to be playing a leading role with the announcement of another first-class development, in a sublime location,” said Mark Stevens, founder and managing director at Kokoda.
“Brisbane is rapidly transforming into a new world city; its culture, business centre, technology, and lifestyle is evolving with over $40 billion of infrastructure investment planned, so naturally there is a shift occurring with demand now skewed towards sophistication and luxury residential design.”
It is estimated that the Crombie Street project will have a total value of circa $160 million, adding to Kokoda Property’s $2.5 billion project pipeline across Queensland and Victoria, which includes 1,600 apartments under development.
“Kokoda’s heritage lies in high-end luxury so this narrative carries through our brand into all our projects,” added Stevens.
“Continuing this history is extremely important to us as this high-grade offering lies at the core of the company’s value proposition. We engage the best architects and interior designers from around the world to ensure that we are market-leading and cutting-edge.”
This new project will follow the successful delivery of The Ambrose, which launched in early-2021 and has since sold 98% of residences, with only four yet-to-be launched penthouses remaining.
In 2021, the $2.8 million sale of a penthouse in Kokoda Property’s Chester and Ella development in Newstead development marked a new Brisbane property price record, with the 339sqm three-bedroom, three-bathroom residence taking in more than $19,310 per sqm.
“High-end developments with a design-led approach are contributing towards this transformation so we are proud to be actively developing in what is one of the most exciting times in Brisbane’s modern history,” concluded Stevens.
The Crombie Street project is set to launch an expressions of interest campaign in late-March 2023.
