Teneriffe: This industrial locale has only been an official suburb since 2010

Good things do come in small packages, and Teneriffe is living proof. This once-industrial nook on the Brisbane River has emerged as a hub of character-filled living.

History takes centre stage here with the iconic Woolstore, now reborn as sleek lofts, creative offices, artisan cafes, and trendy bars that draw a crowd any day of the week.

Declared an official suburb only in 2010, Teneriffe has enjoyed quite the glow-up, shaking off the dust of its working-class roots and embracing a new identity – time-honoured, buzzing with creativity, and adored by those who call it home.

Small in size, mighty in value

While Teneriffe shares a postcode with its coveted neighbour, New Farm – Queensland’s most expensive suburb – Ben Percival of Percival Property Group says Teneriffe holds its own with impressive bragging rights.

“Teneriffe stands as Brisbane’s most heritage-rich suburb, creating a village-like atmosphere just two kilometres from the CBD,” he says.

“While New Farm has its standout streets, Teneriffe’s consistent appeal ensures exclusive property values across the board, often leading to higher average square-metre rates than its neighbour.”

Even better, Percival says Teneriffe’s charm draws people of all ages and lifestyles, resulting in impressive rental yields and strong capital growth, solidifying its reputation as a wise long-term investment.

“Along the riverfront are Teneriffe’s most prized properties, especially the coveted Catalina homes – freehold residences backing directly onto the river with stunning views of Bulimba,” Percival says.

“Up on Teneriffe Hill, the hidden gem is Teneriffe Park, affectionately known as the locals’ park, with its wide green spaces, off-leash dog area, and picturesque views that many only discover once they settle in.”

An exciting new chapter

Teneriffe has seen impressive infrastructure investments, most prominently the much-anticipated Teneriffe Banks, a $1.5 billion development poised to revitalise the riverfront.

“It’s rare to have the chance to add a new chapter to the heritage fabric of such an iconic neighbourhood,” says Mark Stevens, founder of Kokoda Property Group, which is spearheading the development.

“This ambitious project aims to elevate Teneriffe’s riverside presence with a mixed-use lifestyle precinct that blends residential options, a luxury hotel, and lively laneways to boost the area’s appeal and connectivity.”

Paying homage to Teneriffe’s cherished Woolstore, Teneriffe Banks will introduce a refined modern twist, fitting for a suburb that has become one of Brisbane’s most admired neighbourhoods.

“A lively network of laneways will weave through the site, linking Teneriffe back to the river, while the extended River Walk boosts the area’s usability,” Stevens says.

“Its scale and quality will transform not only the suburb but the entire city, solidifying Brisbane’s reputation as a global destination.”

For sale in Teneriffe

FOR SALE

8 Teneriffe Drive, Teneriffe QLD 4005

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Perched on Teneriffe Hill, this tri-level residence boasts a charming facade, open-plan interiors, and an entertainer’s deck with sweeping views of the Brisbane River, city skyline and Hamilton Hill. A rear patio overlooks the glistening swimming pool.