A long-unused corner of Kangaroo Point is finally being brought to life, with construction now under way on a major residential and retail project that will reshape the peninsula’s landscape. The development, located on Prospect Street, is set to introduce the suburb’s first full-line supermarket, filling a long-standing service gap in one of Brisbane’s most iconic inner-city precincts.
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The $310 million project, known as The Bedford, will include a Woolworths, café and liquor store at street level, topped by 128 two- and three-bedroom apartments spread across 16 levels. It’s a rare example of large-scale, mixed-use construction in an area where new residential supply has been notably limited for more than a decade.
Led by Queensland-based Mosaic Property Group, the development marks a turning point for a site that has remained vacant for decades despite its high-profile location. The Bedford has already achieved strong pre-sales, with more than 90 per cent of residences sold since its late 2024 preview, suggesting pent-up demand for new housing in the area.
Prices for the final release start from $1.4 million, and construction is scheduled for completion by late 2027.
The Prospect Street project is being delivered by Mosaic’s in-house construction division, part of a growing portfolio that includes other recently completed or soon-to-be-finished developments across East Brisbane, Toowong and Milton. According to the developer, the strong demand for The Bedford has prompted an accelerated preview of a follow-up project in the area, dubbed The Carter.
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For Kangaroo Point, which has long been admired for its proximity to the CBD, riverfront views and established charm, The Bedford represents more than just a new place to live—it signals a broader shift toward higher-density, amenity-rich living. And for a site that has sat idle for so long, the start of construction may be seen by many locals as overdue progress.
Updated 26-July-2025