Notwithstanding the ongoing nationwide construction crisis, award-winning Melbourne-based developer Kokoda Property is showing no signs of slowing down on their plans to deliver their $2.5 billion project pipeline.
Housing shortages, soaring global material costs and supply chain disruptions are impacting the Australian construction industry, leading to the collapse of several major property and construction companies, and insolvency in the sector rising 90 per cent over the previous financial year.
However, Kokoda Property won’t be putting any projects on hold, says managing director and founder, Mark Stevens. He expects demand to soon outstrip supply based on forecasted population growth across major Australian capital cities, and record migration, especially in Queensland.
“While some view it as a volatile market and trickier to navigate, our 25 years of experience have seen us through many property cycles and difficult times. We have great relationships with reputable, quality construction partners and are confident in where things are heading,” he explained.
Kokoda Property is actively searching for more sites and signing new deals for projects across Melbourne and Queensland, Stevens added.
Kokoda Property’s curated, high end, mixed-use precinct, Malvern Collective on Dandenong Road, is currently 70 per cent sold with construction due for completion in Q1 2024.
Malvern Collective will feature two Jackson Clements Burrows-designed multi-residential towers with unparalleled views of Port Phillip Bay, the Dandenong Ranges and Melbourne’s CBD.
Offering over 200 luxury apartments designed by Carr, the development also includes a grand 463sqm private NY-style penthouse with an exclusive lobby, dedicated lift, private rooftop and infinity pool as well as a range of generous sub-penthouses that emulate the penthouse’s design inspiration, fixtures and finishes to create a six-star living experience across the board.
At the ground level, a brand new retail, dining and lifestyle precinct will include the last Woolworths Metro to be built in Melbourne, as well as the Techne-designed, renovated Angel hotel, an iconic Melbourne pub with a rich legacy and history dating back to 1856.
Malvern Collective will also connect with Glenferrie Rd via new laneways with direct access to Malvern train station, providing residents and the local community with an elevated destination never before seen in the area – a ‘0-minute development’ promising a lifestyle akin to living in the city, where everyday essentials and amenities are on the doorstep.
Kokoda Property recently completed their highly anticipated $165-million project, The Ambrose, a 19-storey multi-residential tower in Milton, Brisbane featuring 174 luxury apartments and two retail spaces designed by Cottee Parker. The development is currently 95 per cent sold.
The company had also acquired a second Milton site on Crombie Street earlier this year for $11 million, with plans to build a 22-storey, 160-apartment multi-residential tower featuring a rooftop pool, private dining, health and wellness space and gym; the $160-million project will be launched soon.
“If you’re looking to get into the property market right now, buying apartments with high quality builds and materials by reputable developers is your best bet as they have undertaken their due diligence and have a commitment to deliver the project,” Stevens concluded.
Image: Artist's impression of the penthouse terrace at Malvern Collective
