Malvern Collective the latest in the pipeline for Kokoda Property
Kokoda Property are pushing forward with their $2.5 billion project pipeline despite the effects of the nationwide construction crisis currently plaguing the industry.
The situation has been exacerbated by a significant number of major property and construction companies facing collapse due to housing shortages, rising global material costs, and supply chain disruptions.
The resulting spike in construction company insolvency, which has increased by 90 per cent compared to the previous financial year, has left many in the industry feeling fearful and uncertain about the future.
Kokoda Property Managing Director and Founder Mark Stevens said that they won’t be putting any projects on hold.
“Demand will soon outstrip supply based on forecasted population growth across major Australian capital cities and will be further exacerbated by record migration, especially in Queensland," Stevens said.
“While some view it as a volatile market and trickier to navigate, our 25-years of experience has 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.
“In fact, we’re actively searching for more sites and signing new deals for projects across Melbourne and Queensland."
Kokoda Property is currently in the midst of transforming Dandenong Road with its mixed-use precinct, Malvern Collective, which is currently 70 per cent sold with construction underway and due for completion in the first quarter of 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.
The development comprises over 200 apartments designed by Carr, including a grand 463 sqm private New York-style penthouse with an exclusive lobby, dedicated lift and 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.
Malvern Collective’s ground level will be home to a brand new retail, dining and lifestyle precinct which includes 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.
The new precinct will connect with Glenferrie Road via new laneways with direct access to Malvern train station, providing residents and the local community a ‘0-minute development’, providing a lifestyle akin to living in the city, where everyday essentials and amenities are on the doorstep.
Kokoda is also pushing on with a growing pipeline in Brisbane. They recently completed their $165 million Milton project, The Ambrose, a 19-storey tower with 174 apartments and two retail spaces designed by Cottee Parker. That's 95 per cent sold.
Kokoda Property acquired its 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 Crombie Street project will have a total value of circa $160 million and will soon launch its expressions of interest campaign.
Earlier this month Kokoda spent $100 million on the last remaining riverfront site in Teneriffe, with plans to build another $1.75 billion mixed-use precinct across the huge 17,600 sqm Skyring Terrace block.
