A prime development in one of the Tweed Coast’s most prestigious residential areas, Casuarina, has been put up for sale, with consents in place for a four-storey boutique development.
The ready-to-start project, which gained progress approval in March of this year, is announced through Colliers and an expression of interest campaign coordinated by Brendan Hogan, Troy Linnane and Jackson Robinson.
Located at 6 Grand Parade, Casuarina, it extends over 7,354 m² and is within the Casuarina Beach Master Plan, adjacent to the Casuarina Town Center and the Commons grocery shopping district.
The site is owned by experienced regional developer Azure, which is due to sell the site as part of its strategic exit from the components market and its continued expansion into townhouses.
“This divestment will allow us to expand our $1. 5 billion portfolio of townhomes,” said Azure CEO Chris Schroor.
Brendan Hogan, Residential Director at Colliers, said: “This site offers an incredibly rare opportunity for residential developers to merit a well-considered assignment with progression already in place.
“The owner has put a lot of effort into preparing for the advancement of the project and allowing a new owner to temporarily move on to the next stage. “
It has approval for a four-story boutique allocation comprising 78 apartments in a mix of configurations, complemented through a diversity of community amenities for residents.
Troy Linnane, Colliers’ Residential Director, said: “We expect this to attract significant interest from local and national developers.
“Casuarina is among the most sought-after spaces for homebuyers on the Tweed Coast, offering easy access to the beach and close to urban amenities, adding the new Tweed Coast Hospital, and now has a median real estate price that surpasses that of the prestigious Byron. Bay Region.
“This will be suitable for a customer who wants to bring an order of this scale to market quickly. This is probably the last and greatest coastal opportunity of its kind.
The site is for sale as an expression-of-interest crusade that closes Wednesday, September 18, 2024 at four in the afternoon.