Kokoda Property Group has announced plans for what it describes as Queensland’s most ambitious wellness precinct, with nearly 12,000sqm of amenity set to anchor its $1.5 billion Teneriffe Banks development.
The scale of the wellness offering places the project among the largest of its kind in Australia, aligning with the country’s growing position in the global wellness real estate sector. The precinct, which stretches along the Brisbane River at Teneriffe, has been designed to deliver an integrated approach to health, lifestyle and community connection.
The masterplan proposes five residential buildings, each with its own rooftop wellness retreat. Facilities include infinity pools, mineral plunge pools, hydrotherapy areas, and steam and sauna suites. By embedding these features directly into the residential design, Kokoda aims to eliminate the need for external memberships and integrate daily wellbeing into the lives of residents.
A key component of the project is Banks Athletic, a private health club exclusively for residents. The facility is expected to offer tailored fitness programs and holistic wellness services, complemented by open-air decks for movement and training with views over the river and city skyline.
Teneriffe Banks also proposes one of Brisbane’s largest private members’ venues, The Canopy Club. Drawing inspiration from international social spaces such as Soho House, the club would feature private dining areas, a wine cellar and tasting lounge, library, cinema, sports simulator, and five-star workspaces overlooking the river.
Kokoda says this inclusion responds to growing demand for developments that extend lifestyle beyond the individual residence, providing opportunities for social engagement and professional use in a single environment.
Alongside residential and wellness amenities, the project includes the proposed Kimpton Hotel Urban Resort, the first of its kind in Brisbane. The hotel would feature its own spa, fitness centre, rooftop cocktail bar, signature restaurants, and large-scale event spaces.
The precinct is also planned to include a reimagined marina, amphitheatre, landscaped parkland, laneway cafes and boutiques. These elements, Kokoda states, will create a cohesive precinct that links living, hospitality and recreation on the riverfront.
The Global Wellness Institute reports that Australia’s wellness economy grew at 7.5 per cent annually between 2019 and 2023. Wellness tourism alone grew 32.9 per cent from 2022 to 2023, while the wellness real estate market expanded by 13.9 per cent in the same period.
Against this backdrop, Kokoda Property Group Managing Director Mark Stevens said the project was designed to meet a shift in buyer expectations. “Luxury living today is about more than just design. It is about how well a place supports mind, body and connection,” he said.
Mr Stevens added that downsizers and lifestyle-driven buyers are showing strong interest. “We’re seeing overwhelming demand from buyers drawn to the idea of expansive amenity beyond their own residence, particularly those seeking space without the upkeep. Low maintenance, high impact living is what today’s market is looking for, and that’s exactly what Teneriffe Banks delivers.”
The development will feature more than 200 residences, ranging from apartments and penthouses to woolstore-inspired lofts. Design has been led by Studio McCue in collaboration with Cottee Parker Architects and Carr, with each building intended to have a distinct architectural identity.
Kokoda has also positioned the project within the wider Brisbane community by becoming the naming partner of the Brisbane Marathon Pacers, now branded as the ‘Teneriffe Banks Pacers’. The event attracts more than 10,000 participants annually, further connecting the project to active lifestyle and wellness themes.
Founded more than 25 years ago, Kokoda Property Group has built a portfolio of residential and mixed-use projects valued at $2.5 billion. Its projects include Malvern Collective, Ruby Ruby, The Ambrose, and Chester & Ella.
