This article is from the Australian Property Journal archive
A 330-hectare northern NSW property is one of the largest development sites to be released to the east coast in the last decade.
Known as Cabarita West, the former horse stud site presents the opportunity to deliver more than 1,500 lots (subject to council approval).
Jake Burrowes, Liam Petersen and Paul Noonan from JLL are managing the sale via a five-week expressions of interest campaign, on behalf of the vendor who has held the land for more than 25 years.
“The greenfield site, just a five-minute drive from Cabarita Beach, represents one of the few remaining undeveloped urban growth areas identified within the North Coast Regional Plan,” said Burrowes, senior executive at JLL.
“As a result, it will be charged with providing a large portion of the region’s much-needed future housing supply, at scale. It’s a prime opportunity for someone to come in and realise their vision for a fully sustained live, work and play community.”
A concept for the site includes a village heart and neighbourhood, conservation space, childcare and medical, retail, and services and trades.
“Noting the housing crisis which is impacting the area, they understand it’s an opportune moment to free up the land for residential development,” said Petersen, senior executive at JLL.
The site also features elevated section called One Tree Hill, which is named for its solo tree and offers uninterrupted views south and north along the coastline from Coolangatta to Byron Bay.
“Not only does it offer capacity to meaningfully address an acknowledged housing undersupply, it also provides strong regional connections through its proximity to the Pacific Motorway.
“This includes the employment, business and lifestyle opportunities in neighbouring communities such as Byron Bay, and critical amenities such as the new $720 million Tweed Hospital, due to open in May, which is only 15 minutes away.”
The expressions of interest campaign for Cabarita West is scheduled to close on 22 May 2022.
