Luxury Brisbane development sets Queensland sales record

A new luxury development in Brisbane’s Teneriffe has set a Queensland record after achieving $285 million in sales on its first day.

Kokoda Property Group’s Teneriffe Banks project sold over half its residences during private appointments on October 30.

The $1.5 billion mixed-use development attracted 5,000 expressions of interest and 600 appointments on release day.

Kokoda Property Founder and Managing Director Mark Stevens highlighted the strong market response.

“We are proud to set a new benchmark in Brisbane. The sales and level of interest in such a short period reinforces our belief that Teneriffe is ready for a development of this scale and sophistication,” Stevens said.

The project comprises five buildings including Brisbane’s first 5-star Kimpton Hotel.

The development offers over 200 residences ranging from luxury apartments to penthouses and woolstore-inspired lofts.

The Interloom building features residences up to 404 square metres with 3.8-metre ceilings and river views.

The Skyform building includes homes up to 334 square metres with 4-metre ceilings and panoramic city views.

Residents will have access to amenities including private dining rooms, wellness spaces, mineral baths, infinity pools and the Canopy Club.

The next release, The Ferry Building, will feature heritage-inspired designs with private courtyards and high ceilings.

The development represents part of Kokoda Property Group’s $5 billion portfolio across Victoria and Queensland.