Past Projects

City Magic

Photo of the City Magic

Peter Huang and Yong Real Estate were appointed the exclusive development manager and project marketing manager in November 2002 for the 2,900 m² site at 186 Wickham Street, Fortitude Valley by Peter's Client, Mr Lin.

A 2 tower $50 million project was proposed and approved by the council. Peter believed that the council would change the master plan in 2-3 years and the site would have a good chance of having the height restriction increased from 6 storeys to potentially 20 or 30 storeys. However, despite Peter’s strong advise to hold onto the site, his client, Mr Lin decided to sell it due to his age and health.

The project was subsequently sold by Peter Huang in 2006. It had doubled in value over the 3 years and Peter sold it to one of his another clients, Mr Tseng, for $5.7 million. Mr Tseng is now using the same consultant appointed by Peter for future applications upon the anticipated change of the building height in 2008. Once the height is relaxed, the completion value could be increased to over $200 million.