This article is from the Australian Property Journal archive
DEVELOPER Clarence Property is selling its remaining Casuarina Beach land, in an offering set to test the market for premium beachfront sites in the Tweed Coast community.
The land spans almost one-hectare across five lots that frame Casuarina’s central promenade, Grand Parade, and sit just 100 metres from the northern NSW beach.
Expected to attract both Australian and offshore developers, the sites are approved for a mix of three and four storey developments of up to 13.6 metres in height and range from 1,283sqm to 2,482sqm.
Mark Witheriff and Daniel Doran from CBRE Gold Coast, alongside Brendan Hogan and Steven King from Colliers, are managing the sale of the sites in one line or individually via an expressions of interest campaign.
“This is an unprecedented opportunity to deliver a landmark mixed-use promenade precinct close to the beach offering unimpeded ocean views from the upper levels within one of the most sought-after coastal communities in the country,” said Witheriff, managing director at CBRE Gold Coast.
“The approved Casuarina Beach Town Centre plan permits a broad range of uses including shop-top housing with ground level commercial, medical and retail spaces fronting Grand Parade as well as three-storey residential-only boutique apartments.”
The median prices in Casuarina are approaching $2 million for houses and $1 million for apartments, currently sitting at $1.995 million and $970,000 respectively.
“Recent Casuarina site sales including Lot 46, a 7,534sqm site which sold for over $20M and Lot 59, a 4,083sqm site which sold for $8.69M, show the strength of the Casuarina Beach market together with over 70% in presales reported in the 47-apartment luxury Pama Casuarina development, now under construction in the precinct,” added Witheriff.
The sites sit within walking distance of a range of convenience amenities including the Coles-anchored Casuarina Village and The Commons retail and dining precinct.
“It’s not just the Casuarina Beach community that has come along in leaps and bounds in recent years but the wider region as well, with more than $1 billion in major infrastructure projects adding to its transformation,” said Hogan, Gold Coast director-in-charge at Colliers.
“Casuarina Beach is just a five-minute drive from the new $723 million Tweed Valley Hospital nearing completion and due to open early next year and under 20 minutes’ drive to Gold Coast International Airport, which recently underwent a $260 million terminal expansion.”
Located within the Casuarina Beach Town Centre, the sites include access from and frontages to Grand Parade, Candlenut Street, Black Wattle Circuit, Habitat Drive and Blue Horizon Drive.
“The region is playing host to a massive amount of investment which is underpinning strong population growth and sustained long-term growth in property values,” concluded Hogan.
The expressions of interest campaign for the balance of Clarence Property’s Casuarina holding is set to close on 16 August 2023.
