Kokoda Property Group has settled the riverfront site for its $1.5 billion Teneriffe Banks project in Brisbane, paving the way for construction of the developer’s flagship precinct to begin.
Founder and Managing Director Mark Stevens said the milestone was the product of years of planning, design collaboration and advisory input, bringing the company’s vision from concept through to delivery.
“The history of this site is significant, and we are honoured to continue its legacy by shaping the next chapter through Teneriffe Banks, a precinct that will contribute to the community for future generations to enjoy,” said Stevens.
“This achievement reflects the expertise and dedication of many. We acknowledge our financier along with our design, planning and advisory partners, whose contributions have been vital in realising our collective vision.”
The project has already secured $285 million in day-one sales, setting a state record for Queensland’s off-the-plan launches.
The design team includes Studio McCue, Cottee Parker Architects, Carr, Urbis, Flood Studio and Era Co, working alongside Kokoda.
Located on a rare north-facing site on the Brisbane River, Teneriffe Banks will comprise more than 200 residences across four architecturally distinct buildings: The Interloom, The Ferry Building, The Store Houses and The Skyform.
The development will also introduce Brisbane’s first Kimpton Hotel, described as a five-star urban resort experience, while residents will have exclusive access to The Canopy Club – one of Queensland’s largest private membership venues.
Wellness amenities include Banks Athletic, a health and fitness club with rooftop pools, hydrotherapy facilities and movement decks looking out across the city and river.
The precinct will also feature laneways, boutique hospitality, retail offerings and a proposed new marina.
“This location has long been one of Brisbane’s most coveted and culturally rich precincts, and Teneriffe Banks will not only celebrate that history but elevate it, bringing world-class design, hospitality, and community infrastructure to the river’s edge,” said Mark Stevens.
“Teneriffe Banks is a precinct built to endure, designed to contribute to the local community and Brisbane’s skyline for generations to come.”
With the land settlement now complete, Kokoda Property Group said its appointed builder will be confirmed shortly as preparations for construction get underway.
