First look: Traders in Purple secure approval for Woody Point apartment development on former Palace Hotel site
National developer Traders In Purple has won approval for redevelopment of the former Palace Hotel site at Woody Point, its 14th luxury coastal development on the Moreton Bay Peninsula.
Traders had previously secured development approval for a 15-storey residential building on the site at 2-8 Gayundah Esplanade, Woody Point, but submitted a revised plan to Moreton Bay Regional Council seeking to reduce the height by five storeys to provide improved diversity in living options.
The new approval will see around 175 apartments delivered in two scaled down buildings of nine and 10 storeys, rather than a single tall tower.
The first building is expected to launch in mid-2024, relieving some of the housing pressure in a region that requires more than 90 new homes to be built each week to keep pace with the growing population. Traders In Purple is the dominant residential apartment developer on the Peninsula which falls within the City of Moreton Bay, the fifth fastest growing local government area in Australia.
Earlier this year Traders completed construction of Lasail, 124 apartments and a marina on the Newport Waterfront.
They're also currently building Marin, its sold-out 80-apartment development on the Scarborough waterfront. That's due to complete in early 2025, while Orilla, a collection of 32 luxury residences on the Woody Point water’s edge, also began construction this month.
The latest Traders project at Woody Point occupies a prime elevated site with wide views across Moreton Bay and back towards the Brisbane skyline.
Renowned as the venue where the BeeGees played their first paid gig, the Palace Hotel served its last drinks in 2013 and was demolished the following year after a fire. Other famed attractions include the Woody Point Jetty, a favourite fishing spot, and The Belvedere Hotel, a local institution which has recently undergone a multi-million dollar makeover.
Traders In Purple Senior Development Manager Alex Black said the move to provide a more diverse range of apartments comes in response to a changing demographic profile on the Peninsula.
“In the past couple of years, we’ve seen a rise in the number of working age people and families buying on the Peninsula, seeking a relaxed bayside lifestyle 40 minutes from the Brisbane CBD,” Black said.
“Our offering in this area used to be large three bedroom apartments preferred by downsizers and while they still represent a large share of the market, we are now catering to a much broader and younger demographic.
“We adjusted the design to reflect this shift so that there will be a greater diversity of apartment types and a range of price points that appeal to downsizers as well as families and working age buyers. It’s a better outcome for the locality from a social and economic perspective.”
The most recent DA went through a swift approval process with only one objection lodged which Black attributes to an improved design and community outcome.
A 20-metre separation of two lower-scale buildings creates a view corridor through the site and allows improved sunlight to apartments and the community space, with gardens and swimming pools proposed at the ground level. Each building will have its own amenity.
The perimeter will be heavily landscaped to enhance the street appeal and ground level apartments will feature their own private entry, creating an attractive and active frontage.