Allera is moving ahead on its second luxury apartment development for the NSW Tweed Coast, Caba at Cabarita Beach.
It comes hot on the heels of breaking ground on its first Tweed Coast project, Marine and Pearl at Kingscliff.
CABA comprises 20 apartments on a 2803sq m site at 2-6 Tweed Coast Road at Cabarita Beach, which Allera acquired for $11.25 million in a deal that settled in June.
Agents described the land parcel as “the only development land left to the eastern side of Tweed Coast Road” and a good opportunity for landbanking.
KordaMentha Real Estate has joined the project as a capital partner.
Allera director Zach Morrison said the site had been acquired with a development approval for 20 apartments already in place.
“Allera submitted a modification to Tweed Shire Council to improve apartment layouts, improve and increase amenities for residents, and refine the design,” Morrison said.
“We dedicated significant time and effort refining the resident amenity into a resort-style wellness area.”
The coastal site is footsteps to the beach and close to regional infrastructure, which Allera director David Mann said was similar to the investment thesis underpinning the Marine & Pearl project.
The residences range from 163sq m to 240sq m with balconies or courtyards as well as a wellness centre for residents, which includes an infrared sauna, cold plunge pool, hot spa and outdoor pool.
Mann said Allera had already received interest in the project, which was yet to launch.
Allera plans to break ground in the third quarter of this year for completion in early 2026.
