Kokoda Property Unveils Ambitious $1.75 Billion Three-Tower Development on Teneriffe Riverside Site

Kokoda Property Mixed-Use Towers Tenerife
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Kokoda Property has officially submitted a development application that promises to reshape the skyline of Teneriffe. The renowned property developer has unveiled plans for a spectacular three-tower residential and hotel development situated on the Riverside Industrial Sands site at 17-27 Skyring Terrace, Teneriffe.

Designed by the acclaimed architectural firm Cottee Parker, this ground-breaking project envisions the construction of 381 luxurious residential apartments across three distinct towers, each characterized by its unique height, scale, and material composition, ranging from 12 to 30 storeys high.

Kokoda Property plans to execute this transformative project in four distinct stages. Stage 1 will encompass the construction of shorter buildings on Skyring Terrace and Commercial Road (Tower 3 & 4), followed by Stage 2 (Tower 2), and finally, Stage 3 & 4 will involve the construction of Tower 1.

Kokoda Property Location Map - Teneriffe
Kokoda Property Location Map – Teneriffe
Kokoda Property Teneriffe Site Street View
Kokoda Property Teneriffe Site Street View

The standout feature of this development is the towering structure known as Tower 1, which will soar to a remarkable 30 storeys in height. This iconic tower is set to include an impressive eight levels dedicated to hotel and short-term accommodations, featuring a total of 160 rooms, spanning from levels 6 to 13.

The development boasts numerous amenities, including a distinctive sky bridge connecting Tower 1 and Tower 2 at level 14, providing access to a VIP lounge exclusively for hotel guests via the hotel lifts in Tower 1. Moreover, level 14 will house a 350m2 day spa, a 437m2 restaurant and bar, and a 179m2 Brisbane River-facing pool and deck. The hotel will also feature meeting rooms, three ballrooms with a pre-function area, and a 556m2 outdoor terrace lawn, accompanied by an additional lounge on level 5.

In addition to the luxurious residential and hotel components, the development will provide office space on the ground, levels 1, 2, 3, and 4, spread across the buildings. Loft-style and terrace housing are also planned for a building facing Skyring Terrace.

Kokoda Property Teneriffe Street View
Kokoda Property Teneriffe Street View
Kokoda Property Streetscape
Kokoda Property Streetscape

Urbis, the urban planning consultants, have emphasized that more than 50% of the site area will be dedicated to the public realm, making it a significant addition to the community. This includes the construction of a new lane, ‘Wool Lane,’ branching off Skyring Terrace, which will connect a newly created plaza at the end of Commercial Road, housing the City Cat terminal, with Skyring Terrace towards Gasworks.

The proposed riverside public plaza will span approximately 9,023m2, providing breathtaking views of the newly extended 220m riverwalk. This riverwalk extension will run along the entirety of the site’s river frontage, filling a longstanding gap in the city’s infrastructure due to the site’s industrial use over the past half-century.

The proposed riverwalk
The proposed riverwalk

Upon completion, the extended riverwalk will offer seamless connections to the Teneriffe Ferry Terminal and the Teneriffe-New Farm Riverwalk to the south of the site. An additional highlight of the development is the expansive ground-level public plaza, which will unlock 8,902m2 of public open space, constituting half of the site’s total area, accessible to both residents and visitors of Teneriffe.

This ambitious project not only addresses the shortage of residential accommodation in Brisbane but also promises significant investment in an extensive public realm by relocating built structures from the ground plane into the proposed towers.

The development is expected to allocate 4,965m2 for twelve ground and level 1 F&B retail tenancies, including four double-story tenancies, two of which offer spacious, river-facing F&B spaces.

The development promises an array of communal spaces, including rooftop communal decks on all buildings, podium-level pool decks on Tower 1, and numerous amenities such as pools, spas, gardens, outdoor lounges, and fitness facilities. A community centre is also proposed at the corner of Skyring Terrace and Commercial Road, replacing the current community space, as per Council and community feedback.

It is reported that Kokoda Property acquired the site earlier this year for approximately $100 million, with the entire development expected to cost around $1.75 billion.

Note: The information presented in this article is for general informational purposes only and should not be relied upon as legal, financial, or professional advice. While we make every effort to fact-check and verify the information presented, we cannot guarantee its accuracy or completeness. Readers are encouraged to independently verify any information they find on our website and to consult with relevant professionals before making any decisions based on the information presented. The Australian Development Review does not own the rights to the information included within this article, and furthermore, there is no infringement intended from the included text and images within.


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