This article is from the Australian Property Journal archive
BRISBANE-based SKF Development has acquired the Sceniq Bilambil Heights site on the Tweed Coast in a $16.5 million deal as the company looks to capitalise on surging demand for residential land on both sides of the Queensland border.
Preliminary demolition and clearing works on site have started in recent months, and civil works expected to begin in earnest on the $59 million development in early 2024.
One hundred residential lots averaging 1,200 sqm will be delivered on the amalgamated 15.8-hectare site. The masterplan incorporates a community park designed by Urbis Landscape Architects, to be completed with the first stage of homesites.
The Sceniq Bilambil Heights site was acquired from Clarence Property Group.
“We are developing a range of homesites to suit a variety of home designs, from level traditional blocks to gently sloping homesites, as well as a handful of larger lots suited to pole homes,” said Eric Zhao, director of SKF Developments.
“Sceniq is designed to suit local families and upgraders looking for a tree-change while still offering easy access to the beach, schools and all infrastructure the Coast has to offer.”
Sceniq Bilambil Heights is among a dwindling number of active land estates across the Tweed, Gold Coast and Ballina regions. RPM Group data shows a drop of up to 75% in new land projects released over the past two years.
According to RPM Group, there are just five active land estates in Tweed Shire, currently having a combined potential to produce and deliver a further 192 lots. However, Tweed Shire needs to produce an additional 14,694 dwellings to meet forecast population demand by 2041. The population of Bilambil Heights alone is expected to grow by 80% by 2041, requiring an additional 1,299 new dwellings.
RPM Group expects the Tweed region is expected to benefit from Gold Coast residents spilling into northern NSW as population and housing shortages increase across the city.
Speaking about the SKR Development acquisition, Clinton Trezise, managing director of RPM Group Queensland, said, “Not only does the site have approvals to develop land in an undersupplied and high-demand market, the site itself has very attractive natural attributes such as elevated views to the Pacific Ocean and surrounding mountains and valleys,”
“As it is close to the NSW-Queensland border with easy connections to the coast, there will be significant interest from buyers once the proposed lots hit the market.”
Sceniq Bilambil Heights is located within easy reach of the Terranora Broadwater and Terranora Creek, including the extensive Scenic to Peninsular Drive Cycleway that offers more than three kilometres of waterside pathways. The new community will be a 10-minute drive to Coolangatta Beach, and to the heart of the southern Gold Coast’s retail and restaurant scene, with the Gold Coast Airport also just 10 minutes away and the M1 Motorway just six minutes’ drive.
