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From retro to calypso
Courier Mail | 12 December 2008
REDCLIFFE or Dreadlockcliffe?
Having spent its more recent history as a mecca for 1950s retro-kitsch, the thought of dreadlocked Rastafarians invading the sleepy peninsula north of Brisbane may not be such a stretch.
But Sydney-based company the Kyko Group insists its $150 million Caribbean-themed project Mon Komo will be "in keeping with Redcliffe's laidback seaside lifestyle".
The twin-tower mixed-use development is set to rise from the landmark site of the rundown Seabrae Hotel, which is due to be reduced to rubble next month.
Mon Komo - a hybrid Caribbean name meaning My Dream Place - will be Kyko's first foray into Queensland as a developer.
It also owns the 193 North Quay office tower in Brisbane 's CBD and developed the $250 million Wondakiah project at Wollstonecraft on the Sydney harbourfront Kyko managing director Mary Wong Jenkings said the Seabrae Hotel site, next to Suttons Beach, offered an opportunity to continue the rejuvenation of Redcliffe.
"It is a truly iconic site and we believe Mon Komo will really do it justice in terms of a vibrant, high-quality, contemporary development," she said.
In its most recent incarnation, the 6414sq m site was home to a 1950s retro-themed restaurant and bar The Fishbowl, which attracted busloads of visitors.
In early 2000, Daydream Island resort owner Vaughan Bullivant paid $425 million for the Seabrae Hotel and pumped a further $2.5 million into the project.
The hotel has since changed hands a couple of times with Kyko acquiring the site for about $23 million in September last year. Mon Komo will comprise a new hotel, almost 1000sq m of retail space, more than 400sq m of commercial office space, a 2126sq m pub as well as 184 residential and serviced apartments and 458 basement car parks spread over two 12-storey towers.
Ms Wong Jenkings said Mon Komo's Caribbean theming would create a relaxed ambience for residents, guests and visitors.
She said Kyko's strong financial capacity meant construction was not dependant on presales, demonstrating the company's confidence in the future of Redcliffe and the southeast.
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