Developer Clarence Property is taking the last of its land in northern NSW’s iconic Casuarina Beach to market in a move set to attract keen interest from premier Australian and offshore developers.
The offering will test the market for premium beachfront sites in the multi-award-winning Casuarina coastal community on the Tweed Coast, where sale prices for highly-sought residential property are approaching those of lauded southern neighbour Byron Bay.
The rare opportunity to secure the balance of Clarence’s Casuarina holding offers almost one hectare of land in five lots, which uniquely frame Casuarina’s central promenade, Grand Parade, just 100 metres to the beach.
CBRE Gold Coast managing director Mark Witheriff and associate director Daniel Doran, together with Colliers director of development sites Brendan Hogan and Gold Coast director-in-charge Steven King are marketing the sites in an expressions-of-interest campaign closing on August 16.
The campaign comes as the median house price in Casuarina closes in on $2 million and $1 million for apartments.
Demonstrating a strong appetite for premium property in the Casuarina area, sales recorded with the NSW Land Registry Service in the past 12 months include six recent nearby home sales ranging in price from $4.85M to $8.97M.
Mr Witheriff said he expected a bevy of premium residential and mixed-use developers to run the rule over the sites which are approved for a mix of three and four-storey developments up to 13.6 metres in height.
“This is an unprecedented opportunity to deliver a landmark mixed-use promenade precinct close to the beach offering unimpeded ocean views from the upper levels within one of the most sought-after coastal communities in the country,” Mr Witheriff said.
“The approved Casuarina Beach Town Centre plan permits a broad range of uses, including shop-top housing with ground-level commercial, medical and retail spaces fronting Grand Parade as well as three-storey residential-only boutique apartments".
“Recent Casuarina site sales including Lot 46, a 7,534sqm site which sold for over $20M and Lot 59, a 4,083 sqm site which sold for $8.69M, show the strength of the Casuarina Beach market together with over 70% in presales reported in the 47-apartment luxury Pama Casuarina development, now under construction in the precinct.”
Mr Hogan said the range of convenience amenities in walking distance, including the thriving Coles-anchored Casuarina Village as well as The Commons retail and dining precinct, strengthened the appeal of the final precinct of Casuarina Beach.
“It’s not just the Casuarina Beach community that has come along in leaps and bounds in recent years, but the wider region as well, with more than $1 billion in major infrastructure projects adding to its transformation,” Mr Hogan said.
“The region is playing host to a massive amount of investment which is underpinning strong population growth and sustained long-term growth in property values.”
Clarence Property Managing Director Peter Fahey said the sites, available in one line or individually, were the last opportunity for developers to secure a prized beachside location and landholding at Casuarina Beach.
The five sites range from 1283 sqm to 2,482 sqm offering a combined total of up to 9,663 sqm, with access from and frontages to Grand Parade, Candlenut Street, Black Wattle Circuit, Habitat Drive and Blue Horizon Drive.
They are located within the Casuarina Beach Town Centre, which enjoys a NSW State Government concept plan and project approval, which details the applicable built form and land use provisions permitted.
