Kokoda Property launches second Brisbane project, The Ambrose – secures $90M funding deal

Kokoda Property has today announced the launch of its second Brisbane project, The Ambrose, in Milton, following the approval of a $90 million project funding arrangement 

The $150 million luxury apartment development is the second Brisbane project for Kokoda, following its inaugural Queensland project, Chester & Ella which was completed in 2019.

Kokoda have coincided the launch of The Ambrose with the appointment of Hutchinson Builders to the $62m construction contract, following the group’s quality delivery of Chester & Ella, which earned both the builder and developer several awards, including the Australian Institute of Architects Architecture Award and Australian Institute of Builders’ People’s Choice Award for Queensland in 2020.

“Brisbane is a market primed for growth given the City’s current infrastructure investment and unprecedented Government stimulus, so Kokoda is excited to be delivering another first-class development on an unrivalled parcel of land”, said Kokoda property’s founder and managing director Mark Stevens.

The 2,019 square metre site sits metres from the bank of the Brisbane River and was purchased by Kokoda Property in December 2017 for $12.25 million.

Situated 1.5 kilometres from Brisbane City at 19 McDougall St, The Ambrose will subsist 181 apartments complete with gym, rooftop pool, cinema and more. 

Designed by Cottee Parker, the Ambrose’s unique architecture and interior design responds to Brisbane’s subtropical climate, using organic, free-flowing variability. Organic fins wrap the building’s façade and ascending greenery compliment the Brisbane River views.

“The Ambrose conveys a strong architectural language rich in form and function”, said Cottee Parker Director, Sandra Browne.

“The resultant design outcome will maximise resident views throughout the eastern corridor, while maintaining privacy by using mixed apartment positioning and balcony orientation”.

As a vibrant inner-city hub, Kokoda and Cottee Parker have designed The Ambrose to be an entertainer’s oasis, with spacious indoor and outdoor recreational areas, barbeque areas, an outdoor cinema and rooftop benches inviting residents to sit and bask in the breathtaking river, city and mountain views.

“The Ambrose is a reflection of the way we know people in Brisbane live, work and play, so exceptional communal spaces for entertaining and relaxing was a must”, said Ms Browne.

Landscape architects Urbis have led the outdoor design, creating a verdant lifestyle facility of utmost sophistication, with multiple swimming pools, yoga spaces, lounge areas, an outdoor cinema and more nestled among lush vegetation.

Critical to the quality delivery of Cottee Parker’s architectural scheme for The Ambrose was the selection of Hutchinson Builders, which Mr Stevens expects will be positively received by savvy prospective purchasers.

“The selection of Hutchinson Builders, being Australia’s second-largest residential builder, means that purchasers at The Ambrose can not only have every confidence that the project will be delivered reliably on schedule, but to a standard of workmanship that they can be truly proud of,” said Mr Stevens.

“The Brisbane property market has faired comparatively well amidst the headwinds of 2020, and with falling residential supply over the last four years we are optimistic that The Ambrose is launching at an opportune time to take advantage of what we anticipate to be a strong market rebound.”

Kokoda have also partnered with Summer Housing to create 14 bespoke apartments eligible for the National Disability Insurance Scheme (NDIS) to provide much needed DDA-approved housing in metro Brisbane.

Generous floorplans in the 19-story residence include one-bedroom apartments from 60 square metres, two-bedroom apartments from 70 square metres and three-bedroom apartments from 120 square metres.

The Ambrose is just 300 metres from Milton Station and just two kilometres from Southbank and the Brisbane cultural precinct; GOMA, Library, Art Gallery, QPAC and the Convention Centre. Milton is also the home of Castlemaine Perkins Brewery and Suncorp Stadium.

“The Ambrose is in a truly exceptional location that will invite residents to fully immerse themselves in the Brisbane City lifestyle”, said Mr Stevens.

Prices in the luxury development will range from $400,000 to $2 million, with oak flooring, natural stone benches, marble bathrooms and  Miele appliances standard throughout and car spaces included with the majority of residences.

Construction of The Ambrose commences this month and completion is expected within 21 months.

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