Kokoda Wins Approval to Upscale Milton Tower

Residential I Clare Burnett I 26 Jul 24 I The Urban Developer

Extra floors have been approved for Kokoda Property’s luxury Milton apartment tower.

The developer said it would add four levels to its Ruby Ruby project in the inner-city Brisbane suburb in reply to what it called an “overwhelming response” to its 2023 presale launch.?

Initial plans for a 22-storey, $16-million apartment building were approved last year.

Kokoda now has approval to add a further 34 apartments across four floors to the scheme.

The additions will bring the total to 178 apartments in a mix of one, two and three bedrooms and ranging in price from $764,000 to $2.3 million.?

Eighty per cent of the original tranche of apartments put to market has sold, according to Kokoda.

The 12-18 Crombie Street site will include a rooftop infinity pool with floating daybeds, fire pit, private dining and cinema rooms, billiards room and dog-wash facility.

A “wellness centre” will include a sauna, spa, plunge pool, gym and yoga studio.?

According to Kokoda, the approval comes amid strong market demand, with unit values rising an estimated 18.2 per cent in Brisbane during the past year..?

Kokoda Property founder and managing director, Mark Stevens said the approval was a “significant milestone”.

It marked a “growing appetite for Brisbane luxury apartment living”, he said.

Kokoda acquired the Milton site for $11 million in May, 2023 and submitted designs by Cottee Parker and Carr Design later that year with the Brisbane City Council.

According to the designers, the tower “blends modern aesthetics with a nod to Brisbane’s subtropical climate and Milton’s cotton production history, with elements reminiscent of woven textures, lightweight and flowing forms, and the use of natural materials”.

Construction will begin in the fourth quarter of this year ahead of completion in 2026.

Kokoda has been busy in the past 12 months, and recently won approval for its $1.5-billion Teneriffe precinct project, as well as inking a deal with an international resort operator for the site.

AUTHOR Clare Burnett