Sunland has acquired the prestigious St Lucia property known as The Pink Palace, and has plans to build a boutique luxury housing development of 28 residences. In its third Brisbane acquisition, Sunland beat a strong field of contesters for the property. Colliers International ran an expressions of interest campaign, resulting in over 80 enquiries and more than 10 offers. The site, in highly sought after St Lucia, is in an elevated position, has extensive street frontage, and views to the Brisbane River and CBD, making it ideal for housing development. The site occupies 14 residential blocks over 6,298 sqm, and is currently improved by a five-bedroom mansion, two guest houses, a swimming pool and extensive gardens.