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Empty But Completed Lotus Tower in Kangaroo Point Sold for $100+ Million

Lotus Tower, a 21-storey apartment building in Kangaroo Point, empty since its completion in 2019, has been sold for $100+ million. Its new owner plans to convert the building into a build-to-rent facility.

Blackstone, one of the biggest global equity firms, bought the Lotus Tower from the R&F Property Group in early May 20201 after it remained vacant since late 2019. At that time, R&F Property Group’s Australian operations suffered financial losses and had to be rescued by its parent company in Hong Kong.

But the Chinese-backed firm’s troubles didn’t end there as delays in the new building’s occupancy followed. The Lotus Tower, distinctive for it green-coloured hues, has 200 apartment units with a beautiful river view. However, R&F Property Group decided not to sell at least 10 percent of the units or appoint real estate agents during the construction phase.

The apartment’s marketing wasn’t done until the developer received its final certification in late 2019. By the time they were ready to unveil the building to investors, the sales process was hampered by COVID-19.

R&F Property Group said that they decided to sell the building in “one line” after large-scale investors expressed significant interest. Aside from Blackstone, Serenitas Group also had its eye on the building as a vertical retirement home.

Lotus Tower, located on Lambert Street, is considered a high-end apartment with its own sauna, private dining rooms, gaming and media rooms, gym with golf simulator and an infinity-edge pool. If sold per unit, however, the tower would have amassed over $150 million.

New Gourmet Delivery Service Boho Kitchen Launches in Kangaroo Point

Pressed for time in preparing healthy meals? Tired of the usual fast-food delivery choices? Did you know that you can now have gourmet, healthy, and delicious food delivered to you from the newly-launched Kangaroo Point eatery Boho Kitchen?

Located on Main Street, Boho Kitchen is from Beatrix Nagy, who had a similar business in her home country of South Korea. She offered boxed meals filled with high-quality food, which were a hit with the professionals and expats.

Ms Nagy focused on delivering food that isn’t bad for one’s diet nor damaging to the weekly food budget. She then brought the same concept for Boho Kitchen with brunch or gourmet boxes that has choices like the Power Breakfast box, The Morning After brunch box, the Date Night box, the Pyjama Day Meal, and the Nibble All-Day box.

The set menus included in these boxes feature meals like Boho Granola Cups With Fresh Fruit or Yoghurt, a Smorgasboard Of Smoked Trout & Crumbled Goat Cheese With Fresh Lemon & Herbs, and Chicken Schnitzel Caesar Sliders With A Zesty Green Salad.

Aside from the delivery option, Boho Kitchen is also a small coffee house, taking over the site of the former Bluntys restaurant. The cafe serves a curated selection of deli and baked goods for those on the go. They also offer brunches for dine-in customers but seating is limited.

Every food served in this eatery is prepared from scratch so that the customers could enjoy fresh and nutritious meals that are miles better than ready-made food. As much as possible, food served from Boho Kitchen is without preservatives, additives, and artificial flavours.

Boho Kitchen is on a soft launch beginning 9 May 2021. For more on the store, follow their Facebook page.

Stock Exchange Hotel Re-Opens Under New Management

Stock Exchange Hotel, one of Brisbane’s iconic establishments, has been acquired by a new operator following a brief closure in late 2020.

Now owned by rawGROUP, the hospitality company behind establishments like Madame Wu, Casa Cibo, Beach House Bar & Grill, Chu The Phat, and The Duporth Tavern, the revatalised Stock Exchange Hotel will continue to be a favoured hangout for many locals after its soft re-opening on 21 April 2021.

The hospitality group has made significant changes to the restaurant and bar with a few redecorations to make the venue more female-friendly.

The bar and the game room on the ground floor have been repainted with light and bright colours to appeal to all-inclusive guests. Upstairs, the private function room has been redecorated as well to create more space for 125 guests whilst the rooftop area now looks like a Mediterranean watering hole.

Executive chef Shaun Hunt runs the kitchen that will focus on Mexican and Asian dishes. The bar, on the other hand, will serve trendy craft labels and heaps of cocktail drinks.

Hip-hop nights at The Stockie will be revived on Sunday nights, which used to be very popular with the Gen Z crowd but Adrian Rosato of rawGROUP believes that their concept will attract a wider market. They plan on introducing more live music and DJs in the coming weeks.

In November 2020, Riversdale Group confirmed that it will not renew its lease to the Stock Exchange Hotel after seven years of operation. The property, constructed in 1863, has been one of the oldest surviving hotels in the city and it’s currently owned by the Catholic Archdiocese of Brisbane.

Follow Stock Exchange Hotel on Facebook for updates on its weekly events, store opening hours, and other deals.

Lamb House: Famous Kangaroo Point Mansion Risks Being Sold

At 119 years old, the heritage-listed Lamb House in Kangaroo Point has been boarded up. As it falls further into disrepair, the likelihood of the property being put up for auction by Brisbane City Council increases with each passing day.

Lamb House was first constructed in 1902 for John Lamb, a prominent Brisbane draper. The property remained under the care of the Lamb family and is currently under the ownership of Joy Lamb — a widow in her 70s who lost her husband in that very same house back in 2013. She’d fled the home in 2015 after the building began to fall apart.

Despite the building’s rich history and status as a heritage-listed landmark, it has already been boarded up — a sign that no more efforts will be spared to maintain it. The building has fallen into a state of disrepair.

Payment for the building has been put on-hold for years now and Council’s tally now totals $321,000 as of the end of 2020. A deadline has been set for payment by December last year, however the rates have remained unpaid well into 2021.

All outstanding rates must be paid in order to prevent the claiming and auctioning of the historic site in Kangaroo Point. If that happens, proceeds obtained from selling the property would be used to pay off outstanding land tax, rates and fees, with the remainder going to Mrs Lamb and her family.

Lambert Street Development Appeal Worries Residents Over Council Backflip

Residents in Kangaroo Point are worried that Brisbane City Council could backflip on a rejected development application for a high-rise on Lambert Street, now on appeal at the Planning & Environment Court.

The group Say No to 108 Lambert St believes that despite Council’s commitment to fighting the appeal, there are concerns that it might enter into secret talks with the developer, Pikos Group.

There is a precedent for their concern as the Council entered into a resolution process with the development of TriCare’s retirement facility in Taringa. Say No to 108 Lambert St said that this process was not conducted in a court hearing thus there are no public records of the resolution. As a result, the Taringa facility’s development will adapt minor amendments only, despite a number of opposition from the residents.

Photo Credit: Say No to 108 Lambert St/Facebook

Residents also question the relationship of some Council members to Pedro Pikos, the head of Pikos Group, who was part of the Community Planning Team and served as the advisor for the Kangaroo Point Peninsula Neighbourhood Plan.

A spokesperson for the Council, however, said that the planning team consisted of “local residents, workers, property owners, business owners and students” who are familiar with the area and could best provide inputs during the mapping out of the neighbourhood plan in meetings between 2016 to 2017.

Meanwhile, new evidence has emerged that one of the three buildings in the planned 108 Lambert Street development is beyond the height limit. Independent surveyors assessed that the 15-storey building’s height could actually be for a 16-storey building. This suggested that Council could has stronger grounds to win the appeal at the Planning & Environment Court.

Check the Lambert Street development application at Developmenti Brisbane DA A005542190.

Council Eyes Construction Of Kangaroo Point Green Bridge This Year

Photo credit: Brisbane City Council/Flickr

Following years of delay and issues with funding, the construction of Kangaroo Point green bridge is finally a step closer to reality. A development application for the bridge has been lodged and is now under consideration by the Brisbane City Council.

Subject to approval, a contract for the design and construction of the bridge is expected to be awarded by mid-2021. Construction is scheduled to start in late 2021. Depending on weather conditions, the Kangaroo Point green bridge should be complete by late 2023.
Subject to approval, a contract for the design and construction of the bridge is expected to be awarded by mid-2021. Construction is scheduled to start in late 2021. Depending on weather conditions, the Kangaroo Point green bridge should be complete by late 2023.Subject to approval, a contract for the design and construction of the bridge is expected to be awarded by mid-2021, ahead of construction starting in late 2021 and depending on weather conditions, construction for the Kangaroo Point green bridge should be complete by late 2023.

Location map (Photo credit: brisbane.qld.gov.au

Read: Kangaroo Point Peninsula Neighbourhood Plan Now in Effect

Brisbane Lord Mayor Adrian Schrinner announced the green bridge in 2019, a few days since he was selected as the new mayor of the city. The new green bridge at Kangaroo Point is one of the five green bridges planned for Brisbane.

The green bridge, aimed to connect Kangaroo Point to CBD, has long been anticipated. It was one of the priority projects of former Lord Mayor Graham Quirk, as part of Brisbane City Council’s 2013 Draft City Centre Master Plan. However, the Council did not have the funds to build it at the time.

Artist’s impression (Photo credit: Brisbane City Council/Flickr)

A draft reference design presented by Council showed it will have an elegant single-mast cable-stayed structure, designed to complement the city skyline and minimise visual impact. Other features include a dedicated cycle and pedestrian paths, sub-tropical design elements including landscaping, a variety of places to pause and take in expansive river and city views, and shade along the length of the pedestrian path.

In August 2020, a consultation with the community, held, revealed 71-percent of locals support the draft reference design. Around 69-percent were in favour of the design of the Kangaroo Point landing whilst 72-percent support the design of the Brisbane CBD landing.

Artist’s impression of the Kangaroo Point landing at Scott Street (Photo credit: Brisbane City Council/Flickr)

Whilst the majority of residents support the draft reference design, a few locals are concerned that the height of the bridge will restrict access to the existing Gardens Point Boat Harbour moorings. Regarding this matter, Council said the bridge design is being progressed with a navigational clearance height of 12.7 metres, which is no lower than the Captain Cook Bridge.

The Kangaroo Point Pedestrian Bridge is estimated to cost $190 million and is projected to accommodate around 5,300 trips per day.

To get the latest updates about the Kangaroo Point green bridge, visit Brisbane City Council’s website.

Read: Story Bridge Adventure Climb Proposes New North Peak Route

Kangaroo Point Off-Leash Dog Area Divides Residents

A proposal to make James Warner Park, located at the bank of the Brisbane River, into an off-leash dog area has divided residents of Kangaroo Point. The site is a nesting ground for bush turkeys, which could be driven out of their habitat if dogs run freely around the park.

Residents have been left upset after a video made its way in the news showing a group of people encroaching on the turkeys’ home with torches late one night.

It comes as Councillor Jonathan Sri opened a proposal for an off-leash dog area in Kangaroo Point and conducted a poll for residents to choose the best location. The other area in contention is CT White Park. Mr Sri said that they were “pretty close to settling on CT White Park” until some locals asked for more time for public consultation and consider James Warner Park as well.

“With BCC now confirming that the administration will support a dog off-leash area at either CT White Park or James Warner Park, depending on which location has more support from residents, this last polling round is about choosing the specific location,” he posted on Facebook.

Photo Credit: Councillor Jonathan Sri/Facebook

Mr Sri’s poll has, so far, received 355 votes with 61 percent preferring James Warner Park. The locals also posted their thoughts on having an off-leash dog area in either location.

“The proposed enclosed area at James Warner Park is less than 15 metres from the neighbouring residential buildings. This will inevitably lead to on-going problems with noise, smell and dust as the existing grass cover is lost,” John Cox shared.

“When the dog owners defiantly used James Warner Park for intermittent periods from 5 pm – 7 pm, I saw first hand the wildlife disappear as well as the damage to the grassed area. I can only imagine what it will look like used daily – a dust bowl,” Thelma Butcher said.

“The CT Park is very busy with bikes and scooters and ferry commuters. It is also very steep in areas which would prejudice older or disabled people many of whom love walking their dogs and enjoy the social interaction,” Emma Hossaxko, a resident for 27 years said.

“The second proposed location at CT White Park would be less successful due to the topography, lack of shaded edges and high volumes of cycle traffic that passes along both edges to Bright Street (the playground further down is partially fenced for this reason),” Josh Spillane said.

“Bottom line here is that we do not need a DOLA. People should be happy to actually walk their dogs on a leash. DOLA’s are filthy unsightly areas that very quickly turn in to smelly dustbowls,” according to Andrew Whyte.

Mr Sri has yet to confirm the final decision on the location. He did address concerns about the noise in a DOLA close to the houses.

“If BCC receives lots of complaints about a DOLA, the parks officers will go check it out periodically to make sure there aren’t any obvious issues, but they’re not likely to take any enforcement action unless there is ongoing sustained repetitive barking,” the councillor said.

Story Bridge Adventure Climb Proposes New North Peak Route

Fancy an unforgettable climb up the northern peak of the Story Bridge, hanging 74 metres in the air above the Brisbane River? Check out the Story Bridge Adventure Climb!

Though the Story Bridge Adventure Climb was first opened to the public in 2005, this iconic Kangaroo Point tourist attraction remains as active as ever almost two decades later. As one of only three bridge climbs in the world, daredevils and thrill-seekers have flocked from inside Brisbane and out to experience the climb themselves. In fact, plans have been drawn to expand the facilities available at Story Bridge.

With this latest proposal, Story Bridge Adventure Climb intends to provide tourists and visitors with a wider range of activities and climbs to meet the demand brought about by the rapid growth of tourism in Brisbane — one of which includes a new route for adventurers to take.

A Development Application has already been submitted to the Brisbane City Council to create a second “north peak” route that co-exists with the current route available for daring thrill-seekers to climb. The proposal hopes to implement a viewing deck and a swing out to the Story Bridge.

The north peak route is set to run from Howard Smith Wharves all the way to the northern peak of the bridge, meaning the journey up the route would take an hour and a total of 550 steps to complete. It is expected that there is enough room for up to 14 climbers will be able to take on the route at any given time.

To book a trip up the Story Bridge in State Route 15, or to simply learn more about the Story Bridge Adventure Climb, check out their website. Follow them on their social media accounts on Facebook and Instagram for the latest updates.

Make Waves with Riverlife’s New Water Bikes for Hire

Get ready to make waves at this latest leisure activity in Brisbane! If you’re looking for a fun thing to do or something you’ve never done before then the water bikes for hire at Riverlife will not disappoint.

These water bikes aren’t like the boxy paddle boats that have been popular for a while. They work like standard bicycles, easy to use and navigate at a regular speed of fewer than 20 kilometres per hour or depending on how fast and strong you can pedal.

Because you’re biking on water, the ride is swift and smoother without traffic congestions, potholes and everything else that makes biking on the road so frustrating. You’ll get a full workout, as well as a short trip around Brisbane’s beautiful riverside, within a 30-minute hire.

If you’re not up for getting wet, the water bikes are extremely stable and won’t create a splash…unless you’re up for jumping in the water.

Rest assured, safety precautions will be observed at Riverlife whilst safety briefings will be conducted by well-trained staff before you hop on that bike. Riders will get a personal floatation device and sunscreen as well.

Are you thinking of setting up a race with your friends? Water bike hire sessions are open every Wednesday to Sunday. Booking online in advance is encouraged.

Biggest Luxury Shopping Complex Coming to Queen’s Wharf

Queen’s Wharf is set to become the “envy of the nation” as Destination Brisbane Consortium has secured leading retailer DFS Group to open the luxury shopping complex, T Galleria, at the premier riverfront site.

DFS, a part of the Moet Hennessy Louis Vuitton (LVMH) group, has one of the largest portfolios of internationally-known brands and stores. The group will occupy 6,000 square metres of the nearly 40,000 square metres of the lifestyle precinct.

The complex will be a three-level site, blending into the repurposed, heritage-listed Printery Building on George Street. Across the shopping destination will be 16 free-standing luxury brand stores.

“This is another milestone in the world-class development that will transform Brisbane’s CBD, boost tourism and create thousands more jobs when complete,” Deputy Premier and State Development Minister Steven Miles said.

“The development will feature 50 bars, cafes and restaurants, a casino, four world-class hotels, up to 2,000 residential apartments, the Sky Deck, moonlight cinema, the Neville Bonner Bridge and now around 6,000m2 of luxury retail floorspace.”

“Once Queens Wharf is up and running, it will provide jobs for more than 8,000 Queenslanders at one of Australia’s most sought-after destinations,” Treasurer and Minister for Investment Cameron Dick said.

“The construction workers on this massive project also deserve congratulations for their ability to keep the project going right through the impacts of COVID.”

T Galleria will be the largest complex for DFS compared to its sister stores in Cairns, Sydney and Auckland, New Zealand.

Star Entertainment Group CEO Matt Bekier of the Destination Brisbane Consortium said that the addition of DFS’s biggest site in Australia would establish Queen’s Wharf as a “globally competitive” and world-class destination, delivering the “wow factor” for local, interstate and international visitors.

Meanwhile, DFS Group Chairman and CEO Benjamin Vuchot said that they are delighted to be on board.

“We’re delighted to join Queen’s Wharf Brisbane’s multitude of attractions and look forward to welcoming our global traveling customers to this exciting city in the future.”

T Galleria is earmarked for a 2022 opening.