A major development site in one of the Tweed Coast’s most prestigious residential precincts, Casuarina, has been placed on the market with approvals in place for a boutique four- storey development.
The shovel-ready project, which secured development approval in March this year, is being marketed by Colliers via an expressions-of-interest campaign that is being co-ordinated by Brendan Hogan, Troy Linnane and Jackson Robinson.
Located at 6 Grand Parade, Casuarina, the site spans 7354sq m and is within the Casuarina Beach masterplan, next to the Casuarina Town Centre and Commons retail precinct.
The site is owned by experienced regional developer Azure who have decided to divest the site as part of their strategic move out of the apartment market and continued expansion into townhouses.
“This divestment will allow us to further bolster our $1.5 billion townhouse pipeline,” Azure director Chris Schroor said.
Colliers residential director Brendan Hogan said, “This site provides an extremely rare opportunity for residential developers to take advantage of a well thought-out project with development approvals already in place.
“The owner has put in the hard yards to get the site development ready and to allow a new owner to quickly proceed to the next stage.”
The site has approval for a boutique four-storey project comprising 78 residences in a mix of layouts, complemented by a range of shared amenities for residents.
Colliers residential director Troy Linnane said, “We’re expecting this site to attract significant interest from local and national developers.
“Casuarina is among the most sought-after areas for homebuyers on the Tweed Coast offering easy beach access and close to urban amenities, including the new Tweed Coast Hospital, and now has a median house price that surpasses the prestigious Byron Bay region.
“This site will suit a buyer looking to quickly bring a project of this scale to the market. It’s most probably the last, largest coastal opportunity of its kind.”
The site is being sold via an expressions-of-interest campaign that closes on Wednesday, September 18, 2024 at 4pm.
