It’s hard to believe that Teneriffe was a derelict industrial zone just 30 years ago, replete with abandoned wool stores, dilapidated factories, and crumbling wharves.
Today, it is Brisbane’s most expensive suburb per square metre, according to Sixty Four Property agent Ivo Kornel, owing to its walkability, ridiculously hip food and dining scene, and ferry service.
“It’s probably one of the safest places to park your money in Brisbane,” Kornel says.
“People come here to invest; they come here to downsize. They sell their car and many people purchase scooters to get around. You can eliminate all excess and reintroduce simplicity and an easy way of life – one that is funky, vibrant, and alive.”
A vibrant ancestry
Teneriffe, located on the Brisbane River between Newstead, New Farm, and Fortitude Valley, is perhaps best known for its heritage-listed wool stores that have been converted into upmarket apartments that regularly sell for six-figure sums.
According to Angela Sclavos, an eight-year resident, the eclectic architecture interspersed with established greenery and the diverse demographic are just two of the suburb’s many draws.
“I believe that people want to live in this suburb because of the retail, cafes, restaurants, parks, and river,” she says.
Kornel and Sclavos both refer to a “insular peninsula” mentality prevalent among residents of Teneriffe, Newstead, New Farm, and Fortitude Valley, who rarely leave the area due to the proximity of everything they need.
“Whether I want to go out and purchase an outfit or simply sit and have a coffee, there is rarely a time when I feel unable to obtain what I require in the suburbs,” Sclavos explains.
Teneriffe is equipped with everything its residents require, eliminating the need for them to travel far. Supplied photograph
Sclavos opened a pop-up called Greenspace on James Street to sell architectural plants, as well as styling services and a cafe, after noticing a lack of nurseries.
The concept was a success, and she will relocate to a permanent address down the road next month (July).
It will be called The Green and will include a restaurant inspired by the Middle East.
Sclavos is also set to open new produce-driven restaurant Essa on Robertson Street, demonstrating his confidence in the area’s burgeoning dining scene.
“I believe that Brisbane’s restaurant scene is the best in the city, and that it is also the city’s premier retail destination,” she says.
“I believe there is a trend away from shopping centre culture, in which independently owned businesses thrive and are supported by the community.”
One to keep an eye on
This three-story Channon Architects-designed home features lashings of emerald quartzite stone, blackbutt joinery, and brass fixtures.
The residence features an outdoor room with an integrated barbecue, a plunge pool, and a two-car garage with workshop space.