Green light for Palace site development

Traders In Purple’s redevelopment plans for the former Palace Hotel site at Woody Point have been approved.

The national property group, which has 14 developments in the region, had approval for a 15-storey residential building on the block.

But, it submitted a revised plan to Moreton Bay City Council to reduce the height by five storeys to give more diverse living options.

Traders In Purple said the approval, confirmed  last week, will see around 175 apartments in two buildings of nine and 10 storeys, rather than a single tall tower.

The Palace Hotel was famous as the venue where the Bee Gees had their first paid gig. Last drinks were served in 2013 and it was demolished in 2014 after a fire.

Earlier this year, Traders completed Lasail with 124 apartments and a marina on the Newport waterfront.

Its sold-out project Marin, which has 80 apartments on the Scarborough waterfront is due to complete in early 2025.

Orilla, with 32 luxury residences on the Woody Point water’s edge, was recently launched and the Palace Hotel site development is expected to launch in mid-2024.

“Our offering in this area used to be large three-bedroom apartments preferred by downsizers," Traders In Purple Senior Development Manager Alex Black said.

"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,” Ms Black said.

A 20-metre separation of two lower-scale buildings creates a view through the site and allows improved sunlight to apartments and the community space, with gardens and swimming pools at 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 have their own private entry.

Traders In Purple is a national property and construction group with offices in Brisbane, Sydney and Tasmania.