Kokoda Secures Second Site on Crombie Street, Milton

Kokoda Secures Second Site on Crombie Street, Milton

Apartment developer Kokoda Property has acquired a prime 1,640 sqm block of land on Crombie Street for $11 million, its second site in Milton.

Following the completion of its $150-million development on McDougall Street called The Ambrose, Kokoda plans to develop the property at 12-16 Crombie Street in Milton into a 22-level residential tower.

The $160-million project will be designed by Cottee Parker, the same team behind The Ambrose, which will contain 160 apartment units with a rooftop pool, private dining room and health and wellness space and a gym.

Crombie Street will be in addition to the $2.5 billion worth of projects already in the pipeline across Queensland and Victoria including 1,600 apartments already under development. Kokoda Property Founder and Managing Director Mark Stevens said that all indicators are pointing towards a robust market and Brisbane is already primed for growth and rapidly transforming into a new world city.

Its culture, business centre, technology, and lifestyle, he said, 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.”

Tower Ad

Kokoda will launch the Crombie Street project later this March through an expression of interest campaign.

“Kokoda’s heritage lies in high-end luxury so this narrative carries through our brand into all our projects,” Stevens added.

“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 Ambrose was launched in early 2021 and has since been over 98 per cent sold. Meanwhile, that same year, Kokoda sold a penthouse in its Chester and Ella project in Newstead for a new price record of $2.8 million. 

Published 19-March-2023