This article is from the Australian Property Journal archive
PIKOS Group has scored a major victory after winning an appeal for its plans for its $350 million luxury apartment towers on the Kangaroo Point peninsula, after amending its initial proposal.
The three tower Kangaroo Point apartment project, on a 5284sqm site at 108 Lambert Street, has received the go ahead from the Land and Environment Court.
The original development plans received numerous community complaints, rejected by the court and leaving Pikos to go through the appeal process.
“We are delighted council has recognised the overall merits of our development and we can now move forward with a benchmark project that will enhance the inherent charm of Kangaroo Point and its future growth,” said Pedro Pikos, head of Pikos Group.
The council initially rejected Pikos’ application to increase the height of the three towers from 10 storeys to 15 in line with Brisbane City Council’s newly adopted Neighbourhood Plan.
“We’ve gone back to the drawing board to ensure we continue to deliver a new standard of luxury residential tower development to the area in a well-designed integrated project that blends with and is sensitive to its surrounds,” said Pikos.
Among changes to the proposal is the reduction of overall residential density from 300 apartments to 273, which will also reduce traffic volumes.
“This project will be the new benchmark for apartment living in terms of spaciousness and amenity on the Kangaroo Point peninsula, where our density is far less than in many existing residential towers in the area,” added Pikos.
“We’re aware of the views raised by some local residents and we want to reassure the community that we’ve listened, and we’re invested in the future of Kangaroo Point,” concluded Pikos.
Works on the Lambert Street project are expected to commence in the next month.
