This article is from the Australian Property Journal archive
AFTER barely 18 months of ownership, Sydney developer Terry Agnew has tipped nine hectares of Northern Rivers englobo land with sweeping views over the burgeoning coastal town Lennox Head to the market, with hopes of about $18 million.
8 Byron Bay Road, which currently has a two-storey, five-bedroom home, changed hands for the first time in 57 years when Agnew’s Tower Holdings purchased it for $14 million late in 2021. He has appointed Nick Bordin of Elders Bangalow & Lennox Head and Will Phillips of McGrath Byron Bay to sell the elevated cleared block, which offers 360-degree views of the coastal region and is “now positioned to be the most premium land opportunity for a luxury private residence in northern NSW”, according to the agents.
“This is the most stunning premium home site and land on offer anywhere in Ballina Shire,” Bordin said.
“There’s definitely no other land of this scale available within Lennox Head so close to the beach.
“It offers a rare opportunity to secure the largest parcel of ocean view land in Ballina Shire.”
The property is within a designated Urban Growth Area and could be used for residential development in future, bordered by Residential zoned land to the north, east and west. The majority of the site is currently zoned 1D Rural (Urban Investigation) which allows for private dwelling houses, secondary dwellings and seniors housing. About 6,250 sqm is currently zoned R2 Low Density Residential which would allow for a residential subdivision with a minimum lot size of 600 sqm.
“This is a blank canvas opportunity in the heart of Lennox Heads that provides a buyer the chance to be the owner of the most prestigious home site in the area,” Bordin said.
“Purchasers could explore subdivision or dual occupancy, while creating a dream home on the remainder of the site in one of the region’s most idyllic coastal towns.”
Recent sales nearby have included the $26 million sale of a private estate on 40 acres in Suffolk Park, $22.5 million for a home in Marine Parade at Byron’s exclusive Wategos Beach, $22 million for a 5.6-hectare private estate at Coopers Shoot, and the $17 million-plus sale to hotelier Justin Hemmes of a beachfront shack at Belongil Beach in Byron Bay.
Lennox Head is a 20-minute drive to Byron Bay and 15 minutes from the Ballina Byron Gateway airport, while the Gold Coast is less than an hour’s drive away.
Expressions of interest for 8 Byron Bay close on Thursday, 18th May.
