Final Casuarina precinct settles at The Pocket land subdivision
11 SEPTEMBER 2015 –
We have recently secured $16 million in settlements for The Pocket land subdivision at Casuarina Beach on the Tweed Coast, paving the way for the release of a landmark new beachside land project at nearby Kingscliff- the town’s first new subdivision in 20 years.
The Pocket, which comprises 40 beachside homesites, sold out within six weeks last year, at prices averaging $400,000. Latest valuations have shown increases in some cases of more than 30%, with lots now achieving resales at up to $525,000.
The sales success and appreciation in values at The Pocket bodes well for the imminent launch of The Dunes at Kingscliff – a new 49-lot beachside subdivision approved by Tweed Shire Council last week.
The Dunes is our first development on the Tweed Coast outside of Casuarina Beach and will be marketed by Larry Collier of Colliers International.
Mr Collier says the release of The Dunes will open the door for purchasers in the tightly held Kingscliff beachside property market and address pent up demand due to lack of coastal land supply.
“The sales and valuation increases achieved at The Pocket are a reflection of the strong growth in buyer appetite for coastal land on the Tweed Coast over the past 12 months – but unlike four or five years ago, there is simply not enough stock available to meet demand,” he said.
“Now that Consolidated has approval for The Dunes, the project will come on to the market within a matter of weeks, and I’m confident of another quick sell-out because I already have a long list of people who have registered their interest.
“The Dunes is the only new beachside land subdivision between the Gold Coast and Lennox Head, and is the first beachside project to be launched in the heart of Kingscliff in two decades.
“It’s located off Pearl Street which is a prime location close to Kingscliff Shopping Village, the Marine Parade restaurant and cafe precinct and the beach. The whole of central Kingscliff is landlocked now so there won’t be another beachside opportunity like this again, and certainly not at today’s prices.
“We expect that homesites will be available from about $330,000, which represents excellent value when you consider the location and all the market fundamentals at play – including low interest rates available in a market primed for growth.”
Our Managing Director of Residential, Lachlan Grantley, said The Pocket was Consolidated’s final land subdivision at Casuarina Beach – bringing to an end a 15-year development program which saw the $1.5 billion multi-award-winning community brought to life.
We still remain active in Casuarina Beach with its boutique Beachlife townhome project, which features 29 freestanding turn-key beach homes.
More than half of the townhomes – which are within walking distance of the new Coles Casuarina Retail Hub – were sold on release, with just a handful remaining priced from $469,000.
Mr Grantley said both Beachlife at Casuarina and The Dunes at Kingscliff were targeted towards buyers looking to break into the beachside market.
“We carefully considered the type of new product we wanted to introduce at Casuarina Beach and Kingscliff, and we were guided as always by market trends, which show young professionals, families and empty nesters are all active buyers of beachside property,” he said.
“We created Beachlife to meet the needs of people looking to blend the benefits of an apartment and family home and wanting to secure a low maintenance property – either as a permanent residence or a lock and leave holiday home.
“The Dunes at Kingscliff is geared towards Tweed and southern Gold Coast locals who have been waiting for years for the opportunity to buy land near the beach and design their own home at an affordable price.
“With land priced in the low $300,000 bracket, it’s feasible for purchasers to own a brand new contemporary, architect-designed home for around $600,000 – which is on par with many of the established homes on the market in Kingscliff and surrounding areas.
“When you consider the price parity between old and new homes, it makes good sense to buy new and design a home to suit individual needs and lifestyles.”