Brisbane-based construction company De Luca Corporation has acquired a Bulimba site for $9.65 million and plans to development an apartment tower, according to The Courier-Mail.
The newspaper reported that the 6553 sqm holding at 30 Johnston St attracted a land rate of $1473/sq m.
The site had been privately held by a Brisbane family for more than 25 years and was formerly occupied by Yamaha Motor Australia.
The company has submitted plans for an 80-unit project at the Johnston St site.
De Luca Corporation already has extensive experience developing apartments in Bulimba. They have completed two developments, Addison Quays (pictured) and Parkside, that sold out quickly.
De Luca Corporation was founded by Managing Director Nic De Luca in 1994 and is both a builder and developer.