Traders In Purple earmark Newport site for 132-luxe home development
A national property company has secured a site for a $177m residential project in Newport for their 15th project in the Moreton Bay region.
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National property and construction group Traders In Purple has added a second waterfront project in a high-end enclave north of Brisbane to its growing $4bn pipeline.
They have acquired a 11,560sqm block of land for about $15m at 21 Lighthouse Esplanade, Newport, for a $177m residential development which – pending council approval – is set to be launched next year.
The project builds on the success of Traders last Newport project, Lasail, and the new waterfront site aims to tap into high demand among downsizers looking for luxury low-maintenance living.
It will be Traders 15th delivered in the region and the second Newport site it has acquired from Stockland.
It comes with a DA and Traders is seeking minor changes to deliver 132 residences that are expected to be more luxe than Lasail which broke new ground in Newport as the first multi-residential development in a neighbourhood dominated by two-storey homes.
The Lighthouse Esplanade site is down the road from Lasail and will offer townhouses at the street edge to integrate with the residential character of Newport, and six levels of apartments along the water to maximise views.
Traders In Purple director George Geagea said the group was delighted to return to Newport to deliver its 15th project on the Moreton Bay Peninsula.
“Lasail was one of those fantastic projects where you only wish you could do it all over again,” he said.
“We got our wish and we are extremely excited to return to the Newport waterfront and deliver another beautiful residential community on a spectacular waterfront site.
“We have assembled the same team of architects and landscape architects, with Rothelowman and Urbis bringing the design to life, and have the advantage of our own construction team, allowing us greater control and certainty over quality and delivery.”
Mr Geagea said Traders’ experience at Lasail also gave them deep insights into market values which will be reflected in the mix of dwellings and provision of resident amenity
There was likely to be a higher allocation of generously proportioned two-bedroom apartments with multipurpose rooms and large penthouse style apartments, alongside the popular three bedroom offerings.
Community amenity will include a pool and lounging deck, barbecue and resident lounge for social gatherings and events.
Traders In Purple expects to launch the project in mid-2025 pending approval of variations to the DA.
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