New JV Opportunity Awaits in Port Stephens

Club Lemon Tree, together with Suburbanite, are presenting Port Stephens newest redevelopment opportunity.

Expressions of interest are being sought from development partners for the redevelopment of the club’s extensive landholdings.

Club Lemon Tree is in NSW’s picturesque Port Stephens, just 45 minutes from Newcastle CBD and 20 minutes from Newcastle airport. The Hunter region club is located 700m from the waterfront and marina where Lemon Tree Passage and Tanilba Bay form a peninsula surrounded by the beautiful waters of Port Stephens.

Significant investment into the area is transforming Port Stephens beyond a holiday and retirement destination into a genuine sea-change opportunity for families and a ripe investment option for developers.

▲ There are four major developments planned and in progress for 1000 residences in nearby Medowie. Image: The Bower Medowie

The Hunter region site offers significant development upside with an area of about 17,676sq m and no prescribed floor space ratio.

Further, there are three street frontages and under the flexible zoning overlays of Private Recreation (about 11,960sq m) and Low Density Residential (about 5700sq m) there is a range of permitted uses, including (but not limited to) hotel or motel accommodation, serviced apartments, residential uses, and seniors housing (STCA).

Club Lemon Tree president Kevin Colman said he was “excited to lead a progressive board through this unique opportunity”.

“The opportunity will shape the club for the next 50 years and further bolster growth in our pristine area with the right project.”

The region is experiencing strong growth and when measured against other areas in NSW, Port Stephens’ median house price has jumped 44 per cent since 2016, according to Domain.

Economically, Port Stephens supports 27,346 jobs and has an annual economic output of $13.8 billion, according to Remplan Data.

Tourists and seachangers

Port Stephens welcomes more than 1 million visitors a year in addition to its growing population, which is expected to increase to 87,993 in 2040 (Remplan).

The lucrative sea-change lifestyle appeals to homeowners and investors alike and is supported by local area planning strategy, which includes supporting the growth of residential areas in nearby Anna Bay and Medowie.

According to planning sources, the area is focused on growing the local economy and supporting future population growth through the delivery of infrastructure and capital works through both federal and local government funding.

Infrastructure investment includes Pacific Motorway (M1) upgrades of $1.4 billion and multimillion dollar improvements to travel times on local roads.

Under local planning policies, upcoming priorities for the area include addressing land supply and housing diversity along with the growth of strategic centres and major employment areas. Tourism development and attracting events to the region also remains a high priority.

▲ A large landholding opportunity for a developer to partner with Club Lemon Tree. Image: Club Lemon Tree

Suburbanite’s managing director, Anna Porter, and senior property advisor, Nick Barlow, are marketing the opportunity via an expressions-of-interest campaign closing at 4pm on Wednesday, October 12, 2022.

“The opportunity to partner with a club with a landholding of this size doesn’t come around very often, but when it is done correctly, the situation can be a win-win,” Porter said.

“Suburbanite have spent the past decade working with the club’s industry on renewing their under-utilised assets and future-proofing themselves.

“Our team are experienced in bringing high-quality joint-venture opportunities to the market and work with landowners and developers for mutually beneficial arrangements.”

Discover more about this joint venture opportunity.

(TOP PICTURE: Port Stephens welcomes more than 1 million visitors a year. Image: HomeTown Australia)

The Urban Developer is proud to partner with Club Lemon Tree to deliver this article to you. In doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.