- One of the only beachside developments available within the Ballina Shire
- Once completed, the full development will boast 480 homesites
- CBRE and Colliers will facilitate the sale campaign
Clarence Property Group has announced it is taking one of the only beachside developments parcels within the Ballina Shire to market.
The 4.17-hectare site currently has approval for either a 124-bed retirement village or 118 townhouses.
Located within Clarence’s Epiq Lennox Head master-planned community, the sale is being marketed through an expression of interest campaign by CBRE Gold Coast Managing Director Mark Witheriff and Colliers International’s Brendan Hogan, set to close 22 June.
Along with a Woolworths-anchored Epiq Marketplace Shopping Centre, the local community has numerous sporting fields and conservation areas. It is located one hour south of Coolangatta and 20 minutes from Byron Bay – which currently has a higher median house price than Sydney.
Once the development is fully completed it will boast 480 homesites.
Mr Witheroff remarked it is rare to secure a development-ready site in an established area along the New South Wales coast.
“This site is being offered at a time when there is strong demand from both home owners and retirees in the Lennox-Ballina region, with the local median house price now tipping $1 million as buyers compete for a limited supply of new property,” he said.
“The approval and concept plan in place for the site are perfectly aligned to the type of buyer active in the region, meaning the purchaser will be able to leverage the heat in the current market.”
Mark Witheroff, CBRE Gold Coast
Brendan Hogan, Colliers International Director of Development, added the site is reaching the mature phase of the wider development.
“Clarence has held on to this site, which was always earmarked for medium density development, until the timing was right for a retirement or medium density project to complement the fantastic community that has been built at Epiq,” he said.
“Over the past four years, Epiq has become a well-established hub for Lennox Head, featuring the region’s only shopping village anchored by a Woolworths supermarket and medical centre, along with a range of community facilities including sporting fields and ample green space.”
Brendan Hogan, Colliers International
Since Epiq was released back in late 2015, five stages of land have been sold – equating around 400 lots.
Peter Fahey, Clarence Property managing director says the company is continuing to expand its Northern NSW portfolio and will keep a presence in the area despite divesting the parcel.
“We are selling as we now look to expand our portfolio in northern New South Wales with new masterplanned communities. We believe the time is right, with strong underlying demand for coastal developments, particularly those with approvals in place meaning the new owner can bring a project to market quickly,” he said.
“We will retain a long term interest in Epiq through the Epiq Marketplace Shopping Centre, which we built last year and will keep as an income producing asset for our flagship Westlawn Property Trust.”
Peter Fahey, Clarence Property