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.
Read: Kangaroo Point Bridge Recognised at Queensland Landscape Awards
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.
Read: Shafston International College Could Exit Kangaroo Point for Massive Rochedale Development
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
