QM Properties plans 34-unit development on $8.5 million St Lucia site

QM Properties are planning to build a 34-unit development on a riverfront St Lucia site.

The company purchased the 1,242 square metre site in St Lucia for $8.5 million.

QM Properties have amended the 160 Macquarie Street site  DA to provide a boutique luxury apartment project comprising 34 three bedroom apartments.

Brendan Hogan, the director of residential at Colliers International, handled the off-market expressions of interest campaign.

Glenn Rix, the development manager at QM Properties, said the north-facing riverfront project will be launched to the market in the second half of 2019.

QM Properties is a Brisbane based private development company with a history spanning over 40 years.

Their current portfolio includes residential, commercial, industrial and leisure developments, primarily within South East Queensland.

The site has passed hands several times, with Melbourne developer Kokoda Property paying $9.5 million for the site in 2017. 

Kokoda had planned a 15-storey, 60-unit development.

Photo: Prior listing of property from 2013.