This article is from the Australian Property Journal archive
THE first stage of the $1.5 billion Casuarina Beach development on the NSW north coast has sold out.
The Ultimate Beachfront sale involving the Santai apartments and Beach Shacks has notched up more than $11 million in total sales within 24 days.
Stage One comprises 22 boutique Beach Shacks sold out for a combined $6.6 million and Santai apartments for a combined $5 million.
Stage Two, which is on the market from this weekend, comprises an additional 14 Santai apartments and is already generating strong buyer interest, according to marketing agent Colliers International.
Price paid for the Beach Shacks have ranged from $259,000 to $335,000.
In a bid to clear out the remaining Santai apartments, Colliers has priced some of the premium beachside units – located at the heart of Casuarina Beach adjacent to the Casuarina Town Centre set to commence development this year – from just $179,000.
Colliers director of project marketing Brinton Keath said the stage one sell-out has been a remarkable success for the coastal hot spot.
“The majority of buyers have come from Brisbane and in many cases have chosen to purchase at Casuarina Beach instead of the Sunshine Coast, as it’s a quicker drive to Casuarina – just over an hour away – and a quieter and more relaxed environment once you get here.
“We expected properties to be snapped up immediately and they have been. The campaign is reminiscent of our town centre residential land release last year, where 38 lots were sold with sales in excess of $12 million in just four weeks – we didn’t even get a chance to officially market them,” he added.
Keath said he expects the remaining Santai apartments to sell very quickly.
Australian Property Journal
