WORK is underway at Pikos Group’s $250 million three tower clifftop project at Kangaroo Point in Brisbane’s inner south.
Occupying a 2,300sqm site at 8 River Terrace, around 3.8km out from the CBD, Skye by Pikos will comprise 68 luxury residences, a 1,00sqm sky deck, infinity pool and rooftop leisure and restaurant precinct.
The ground-breaking ceremony was attended by Brisbane City Councillor Adam Allan, representatives from the developer Pikos Group and builder Tomkins Commercial.
“The Brisbane property market is already benefiting from an economic boost from the Olympics, which the Queensland Government says will last 20 years including the 10-year legacy period after the Games,’’ said Pedro Pikos, managing director at Pikos Group.
“New infrastructure projects, more efficient public transport, not to mention the tens of thousands of new jobs that will increase liveability and drive up demand.”
So far the project has seen 70% of its apartments sold, for an average price of $3.7 million.
With recent sales including two penthouses snapped up for $12.5 million and $10.5 million, two sub-penthouses for $8.5 million and $8 million and a large four-bedroom residence for $6.1 million.
Sales at the project launched after Pikos successfully gained approval from the Brisbane City Council in January of last year.
Tomkins Commercial have been appointed to deliver the development, which is scheduled to be completed ahead of the 2032 Olympic Games.
“We have a trusted relationship with Tomkins Commercial after they have delivered excellent results on previous projects. To us, having a family name associated with what we believe will be an iconic development for Brisbane is very important,’’ said Pikos.
“Many other residential builds have been put on hold, however the ones that are progressing are the ones in the best positions with premium offerings and world-class appeal.”
Mike Tomkins, director at Tomkins Commercial, said the company was proud to have its name associated with what should be an “iconic, world class project for Brisbane”.
“This project represents yet another milestone for Tomkins Commercial as we continue to expand our capabilities across all sectors of the construction industry,” added Tomkins.
“At Tomkins, our people are at the heart of the business, and I am confident our team will deliver the Skye by Pikos project safely and efficiently.”
