This article is from the Australian Property Journal archive
CUBE Developments and McNab have been given the green light for their $30 million Lumeah residential community in the Peregian Springs region of the Sunshine Coast.
With the DA now in place, the community will occupy a 2.79-hectare site, around 25km south of Noosa, comprising land lots ranging from 367sqm to 734sqm and offering 31 exclusive land parcels.
Lumeah is placed within walking distance of the Peregian Springs Shopping Centre, Surf Lifesaving Club and Peregian Beach Village. While also sitting within close proximity of both private and state schools.
“The interest we’ve received from our internal database has been extremely positive. Our buyers recognise the exclusivity and prestige of this product,” said Scott Juniper, director of Cube Developments.
The joint venture between Cube and McNab is expected to see record sales for the area, with Queensland’s population surging as an estimated 20,000 annual interstate migrants are set to bring the total population to 5.5 million by mid-2024.
“Together, with our long term partner Cube Developments, 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 prelaunch,” said Michael McNab, managing director and founder of McNab.
The development has been designed to match with the existing style of the surrounding streetscapes and includes ample landscaping.
“The site itself is just spectacular. 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,” added Juniper.
Earlier in the year construction was underway at Cube Developments’ Nature, a luxury residential project in Maroochydore’s Cotton Tree, which followed the success of Seasons by Cube project, which achieved $40 million in sales over six months to sell out its first mid-rise tower.
Construction of Lumeah in Peregian Springs is scheduled for completion by the end of 2023, with settlements expected to be finalised in February 2024.
