Korte family buys Shangri-La building, 28 Victoria Parade for $1 million
The property was built in 1937 for Tom and Mary Mungall for their electronics business before it became a popular fine dining restaurant. Read about the history.
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A slice of Rockhampton’s history has changed hands.
The art deco building and former fine dining restaurant, Shangri-La, sold to the Korte family in September 2022 for $1 million.
The Korte family, headed by Bill Korte alongside his sons Cameron and Brad, are long time developers in the Central Queensland region.
The group operates Victoria Parade restaurant and bar Skyrings, formerly Restaurant 98, and Kortes Resort at Parkhurst.
Previously, they had the Glenmore Tavern for more than 10 years.
The Shangri-La property, sitting at 28 Victoria Parade, was most recently the office of Design Real Estate.
The two-storey home was built as a residence in 1937 for Tom and Mary Mungall who had a wholesale electronics business.
The ground floor had three living spaces, two bedrooms, one bathroom and second toilet, laundry and kitchen.
Upstairs, there were three bedrooms, two bathrooms and a circular balcony that overlooks the Fitzroy River.
In around the 70s and 80s, Karl Hatte owned it and recreated it into the iconic fine dining restaurant, known for its seafood mornay.
In 1994, it sold for a recorded $242,500.
The last sale of the property was in November 2005 for $1.05 million, shortly after it sold in April 2005 for $675,000.
It is one of the more unique buildings on Victoria Parade, with not many homes left as multiple high rises have popped up in the past 20 years.
The home is sandwiched between Riverside Central Hotel and Skyview, an eight storey apartment building built in 2019.
Rockhampton Regional Council’s planning scheme limits developments along Victoria Parade to be no more than 12 storeys and 45 metres, however developers can appeal to build higher.
Victoria Parade riverfront apartments
Empire Apartment Hotel
5 East Street
Scale: 13 storeys, 138 units (98 hotel apartments and 40 residential apartments), restaurants and hotel lobby on ground floor, 20 metre pool, children’s pool, shaded seating, landscaped gardens
Completed: 2014
Builder: JM Kelly
Developer: Wayne Riddell and Andrew Beaumont
Cost: $65 million
The Edge
102 and 108 Victoria Parade
Scale: 77 units, 13 storeys, motel and restaurant
Completed: 2009
Builder: Griffin Builders
Developer: Brian Griffin and Andrew Beaumont
Cost: Almost $30 million
Gallery (stage one)
50 - 58 Victoria Parade
Scale: Nine storeys, 30 units
Completed: 2018
Builder: JM Kelly
Developer: Wayne Riddell and Andrew Beaumont
Cost: $17 million
Quest Serviced Apartments
48 Victoria Parade
Scale: 44 units, nine storeys
Completed: 2013
Builder: The Geocal Group
Developer: George Callianiotis, The Geocal Group
Cost: $20 million
Skyview
24 Victoria Parade
Scale: Eight storeys, 12 units
Completed: 2019
Builder: Mikasa Developments
Developer: Stephen Schravemade (Statewide Property Group)
Cost: $8 million
Fitzroy Waterfront
22 Victoria Parade
Scale: Seven storeys
Completed: 2005
Builder: Griffin Builders
Developer: Brian Griffin and Ted Beaumont
Cost: $5 million
The Rocks
6 Victoria Parade
Scale: Eight storeys, 28 units
Completed: 2006
Builder: Griffin Builders
Developer: Brian Griffin and Andrew Beaumont
Cost: $10 million
Southbank on Victoria
2 - 4 Victoria Parade
Scale: 10 storeys, 55 units
Completed: 2014
Builder: Griffin Builders
Developer: Brian Griffin
Cost: $24 million
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