Luxury developer Kokoda Property has added another string to its Brisbane bow, acquiring a 1,640sqm plus site in Milton for circa $11 million.
Following the successful delivery of The Ambrose, Kokoda has again appointed award-winning architects Cottee Parker to the new project which will comprise approx 160 apartments across 22-storeys, with residential amenities including a rooftop pool, private dining, health and wellness space and gym.
The Crombie Street project will have a total value of circa $160 million and will further add to Kokoda’s $2.5 billion pipeline of projects across both Queensland and Victoria, inclusive of 1,600 apartments under development.
A strong believer in Brisbane, Kokoda Property Founder and Managing Director Mark Stevens said all indicators point towards a robust market.
“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.
“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,” he said.
Since launching in early 2021, The Ambrose is over 98 per cent sold with the four remaining penthouses due to tip the project to a sell-out success once they hit the market.
“Kokoda’s heritage lies in high-end luxury so this narrative carries through our brand into all our projects. 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,” says Mark.
“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.”
The project is earmarked to launch an expression of interest campaign in late March 2023.