Clarence Property has snapped up two low density residential sites between Byron Bay and the Gold Coast.
At Bilambil Heights, the fund manager and developer is paying $13.5 million for a 16 hectare block (pictured, top) between Stott Street and Walmsleys Road.
The property was offered permit-ready for 100 lots, between 542 square metres and three ha.
The average allotment will be 1200 sqm.
“These large [sites] will be in a semi-rural setting, surrounded by bushland with aspects to the coastline, yet still within easy reach of amenities, with Coolangatta beach and associated retail and restaurants just 10 minutes away and three schools within a 20 minute drive,” Clarence managing director Peter Fahey said.
“Bilambil Heights remains relatively untapped in terms of development potential and straddles the area between the Tweed and Gold Coast with easy access to the motorway, making it the ideal location for those looking for a position central to both regions,” he added.
“The larger lots will appeal to local families looking to upgrade to a new home, as well as buyers from the city and interstate eager for a tree change close to the beach,” according to the executive.
“The site incorporates a mix of flat homesites, gently sloping lots and some countered lots, paving the way for a mix of traditional and split-level homes which have the potential for spectacular hinterland vistas and scenic ocean views”.
Bilambil Heights is about eight kilometres south west of Coolangatta (story continues below).
Meanwhile about 36km south of Bilambil Heights, in Brunswick Heads, Clarence has picked up a 30.26ha site accessed from the end of both Kingsford Drive and Torakina Rd.
The land is approved for a 150 lot subdivision.
Another part of it can make way for a medium density property.
Brunswick Heads is about 12km north of Byron Bay.
Elsewhere in northern NSW, Clarence holds housing estate sites at Casuarina Beach, Lennox Heads and Yamba.
“The level of demand we are seeing across all of our communities is unprecedented – there’s scarce supply of land and we are receiving multiple offers for lots and achieving record prices as buyers put their best foot forward to avoid missing out,” Mr Cahill said.
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