New residential community development for Peregian Springs approved
A $30 million residential development in of the Sunshine Coast’s most in-demand areas has received approval, with 31 land parcels up for grabs. Find out what’s planned.
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A $30m residential development in Peregian Springs has received approval, with 31 land parcels up for grabs in the coveted area.
Sunshine Coast developers Cube Developments and construction company McNab announced they had received development approval for a new residential community called Lumeah.
Consisting of 31 land parcels, with lots ranging from 367sq m to 734sq m, the 2.79ha site will be within walking distance of the Peregian Springs shopping centre, local clubs and schools.
Land in the development will start from $750,000 and climbs to $1.675m for a full land and house package.
According to realestate.com.au median house prices in Peregian Springs was $1.14m.
The latest Australian Bureau of Statistics census data shows that there are 9,532 people in the Peregian Springs area, with an average median income per household at $1,836 and a median age of 39-years-old.
The announcement from Cube Developments and McNab said they expected to reach record sales for the region for the “luxury” development.
McNab managing director and founder Michael McNab said it was a rare opportunity to snag real estate in the area.
“We have cleared the site and have achieved almost 200 registered and interested buyers to provide further information on this particular development within the first seven days of our pre-launch,” he said.
Cube Developments director Scott Juniper said the project was attracting customers who were seeking a high-quality standard of living, similar to that of Sydney and Melbourne.
“The interest we’ve received from our internal database has been extremely positive,” he said.
“It’s nestled within the leafy and well-established community of Peregian Springs, and is a short distance from some of the best beaches the Sunshine Coast has to offer.”
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It is expected the project completion date will be December 2023 and settlements finalised around February 2024.
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Originally published as New residential community development for Peregian Springs approved
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