Billbergia Group has struck a deal with the liquidators of the Vision tower site at the CBD of Brisbane to buy the site for an unknown amount.

Originally projected to be completed by May 2012, Vision is a site measuring 5478 square metres located at the front of Margaret and Mary streets.

The original plan for what was supposed to be the tallest building in Brisbane included designs for three retail levels, basement car parking, 15 office levels, two decks for observation, and 53 levels for residential rooms and apartments.

Chris Campbell, partner of Deloitte and joint liquidator said deals were exchanged last week on Friday, and the agreement is projected to be completed on November 23.

Billbergia Group is a construction and civil building firm which has dealt with many projects mainly in the city of Sidney.

The specifics for this new development are yet to be revealed.

"We will endeavour to obtain details from the purchaser with regard to their future intentions for the site and will provide further details to all stakeholders as these become available," Mr. Campbell stated.

The original Vision project was shelved due to the effects of the world fiscal crisis.