Traders in Purple buys second West End mega site and are planning a $850m project

National developer Traders in Purple say they have big plans for their second West End site they’ve purchased with the end value of the project estimated to be about $850m.

An aerial of Traders in Purple's latest West End purchase at 281-297 Montague Rd.

National property group Traders In Purple has topped up its pipeline of luxury inner Brisbane development projects with a multimillion-dollar acquisition of a second mega site at West End.

With a confidentiality agreement signed, the developer is keeping quiet about what they paid for the 1ha plus site at 281-297 Montague Rd, although they’re saying the planned project’s end value could exceed $850m.

The property last changed hands 17 years ago for $22.55m.

The purchase comes after the group last week received approval for its two 20-storey apartment tower Rivara project at nearby at 117 Victoria St.

Traders paid $63.5m for the 1.25ha site last year after it was put on the market on behalf of liquidators BDO.

An artist's impression of Traders in Purple's Rivara project at 117 Victoria St, West End.

Traders director George Geagea says the acquisition of its second West End site reflected the company’s confidence in the location.

“The more we looked at West End as we worked on the Rivara project, the more we liked its fundamentals,” he says.

“It has a great energy and character, and with proximity to the CBD and the Brisbane River, it ticks a lot of boxes for different buyer groups – young professional couples and singles, families and downsizers.”

Party time

It may be a year late but developer Nic De Luca has celebrated his company’s 30th anniversary in fine style.

On Wednesday night about 140 clients, business partners, workmates and friends crowded into The Terrace – the Emporium Hotel rooftop bar – to celebrate the milestone of the company which started from small beginnings in 1994.

Thirty years on and with an annual turnover of about $250m and billions of dollars of office, industrial, retail and residential projects completed, the diversified property group De Luca Corporation remains one of South East Queensland busiest builder/developers.

At the event on Wednesday was there were a mix of present and past staff, government and council representatives, clients, tenants, property agents, and financiers.

Some of those spied by Citybeat were Logan mayor Jon Raven and his wife Ali; property investor Glen Wright and his wife GIVIT founder Juliette; St George Bank national general manager Marty Green; Youngcare chief executive Clare Stewart as well as representatives from Bunning’s, Goodman, McDonalds, Ampol and Guzman y Gomez.

Deluca Corp managing director Nic De Luca in his office in Milton.

Trailblazers

Industry visionaries and high-performing professionals across medicine, data science, para-sports and health technology will ignite efforts to attract new business events to Brisbane through the 2025 Lord Mayor’s Convention Trailblazer Grant program.

Six Brisbane-based business and research pioneers will receive up to $5000 each to attend a leading international conference in their field and in turn, assist Brisbane Economic Development Agency to bid for Brisbane to host future business events.

As Brisbane’s official convention bureau, BEDA and its partners secured 90 new business events in 2023-24, worth more than $100m in future economic impact.

This year’s recipients of the Lord Mayor’s Convention Trailblazer Grant are:

Associate Professor Emma Beckman, Dr Rocky Chen, Associate Professor Martin Downes, Professor Shaun Gregory, neurologist Dr Alexander Lehn and Professor Gemma Sharp.

Lord Mayor Adrian Schrinner says the grant was a fantastic way to promote Brisbane and attract international conferences to the city.

“Harnessing their experience and expertise helps put a human face to the city and sell our incredible story to the world,” he says.