Sunshine Coast property: Leading firms team up for $30m project

Sunshine Coast property: Leading firms team up for $30m project

A prominent Sunshine Coast developer and a construction firm have joined forces for a “premium” $30m housing project at Peregian Springs.

Cube Developments and McNab Constructions have teamed up for the first time in bid to deliver a new residential community.

Project Urban, on behalf of McNab Peregian No 1 Pty Ltd, lodged plans with Sunshine Coast Council for a 33-lot development at 5 Pavilion Dr.

An Australian Securities and Investment Commission search confirmed McNab Peregian No 1 Pty Ltd’s company directors were Scott Juniper and Michael McNab.

Core Logic data showed the company purchased the block for $4.4m in August, 2021. The search also showed it had previously been on the market listed for offers over $6.5m.

Mr Juniper said there was no construction timeline decided for the project until the code accessible application was approved.

He said the original planned was to build 51 townhouses, however, he said 33 lots was more aligned with the surrounding residents to give the estate an “intimate” feel.

“We saw an opportunity because housing in Peregian has changed and really matured,” Mr Juniper said.

“We have figured out people stay there because they love it. There’s plenty of infrastructure and a real community feel.

“As these sites have ocean views we wanted to focus on housing only.”

The project, Lumeah, is set to come with lots ranged in size from 500sq m to 800sq m.

Mr Juniper said McNab had completed the construction of two of Cube’s recent projects and if all went well, it could be a future development partnership.

“It’s our first joint project but we know from past experience how professional McNab are, and this opportunity presented itself,” Mr Juniper said.


Publication: Herald Sun

Author: Matty Holdsworth