The $19.088 million sale of a major development site opposite Casuarina Shopping Village by Clarence Property to Azure Development Group is expected to fuel interest in two new Casuarina Beach sites hitting the market this week.
The new listings at 9 and 10 Grand Parade are both 1545sq m, just 180 metres walk to the beach, and have preliminary approval under the Casuarina Beach masterplan for boutique three-storey mixed-use developments.
The sites are located adjacent to the 7354sq m parcel at 6 Grand Parade, which was purchased by Azure in the highest sale price for a residential development site in Casuarina Beach since Clarence Property purchased the balance of the land in the masterplanned community in 2012.
CBRE Gold Coast managing director Mark Witheriff and negotiator Sebastian Fahey together with Colliers director of development sites Brendan Hogan and Gold Coast director-in-charge Steven King, are marketing the two sites via an expressions-of-interest campaign closing on April 13 2022.
Mr Witheriff said the new listings come at a time of heightened demand for property in northern New South Wales due to surging interest from equity-rich Sydney and Melbourne buyers.
“These premium sites, within walking distance of the beach and amenities such as Casuarina Shopping Village and restaurants at The Commons, represent a rare opportunity for developers to create something truly special in Casuarina Beach,” Mr Witheriff said.
“The location is unmatched, just 15 minutes south of Coolangatta and 30 minutes north of Byron Bay as well as being a 20-minute drive to Gold Coast Airport and less than an hour to Ballina Airport.”
Mr Witheriff said infrastructure in the region continues to be bolstered to meet the needs of a growing population, including construction of the $723 million Tweed Valley Hospital due to open in 2023.
“The Mid Coast area of the Tweed Shire, including Casuarina, is expected to grow by 200 per cent in the next two decades,” he said.
“More and more buyers in the post-Covid era are identifying Northern New South Wales as somewhere they want to live.
“Azure Development Group has rightly recognised Casuarina Beach as a key growth area, and we expect more developers to follow suit especially as development opportunities dwindle.”
Mr Hogan said the Casuarina Beach market had always appealed to buyers from southeast Queensland and northern New South Wales seeking a seachange.
“Now that market is much larger due to buyers from Sydney and Melbourne seeking a regional lifestyle while still being close to amenities and infrastructure such as airports and shopping centres,” Mr Hogan said.
“The growth in house and apartment prices in Casuarina – up 52 per cent and 24 per cent respectively in the year to January 2022 – is evidence of this surging demand.”
Azure Development Group is planning a new residential project at 6 Grand Parade following its purchase, which is expected to settle this month (March).
Azure Development Group director Chris Schroor said the Grand Parade project was its first foray into Casuarina Beach following the launch of a number of successful projects, including a luxury riverfront apartment building in New Farm known as One-Five-Six and a collection of 54 terraces known as the Dawn Edition within The Surrounds in Helensvale.
“It is the right time to enter the Casuarina Beach market given the strong fundamentals underpinning the community, including infrastructure and population growth,” Mr Schroor said.
“We’re planning an upmarket boutique residential community for 6 Grand Parade that will emulate our other successful projects and provide a highly desirable lifestyle for buyers.
“Casuarina Beach is coming into its own and we are very excited to be bringing an exciting new luxury development to the area.”
Clarence Property managing director Peter Fahey welcomed the arrival of Azure Property Group to Casuarina Beach.
“It’s very pleasing to have a developer of Azure’s calibre recognise the value of new development in Casuarina Beach,” Mr Fahey said.
“We’re sure many other developers are poised to follow suit as beachside communities continue to find favour with buyers from capital cities wanting to take advantage of the fantastic lifestyle and location on offer.”
Development applications have been lodged with Tweed Shire Council for review as part of the approval process for both sites.
Detailed plans for each of the development sites currently for sale are available by contacting the appointed agents.
