Hot Property - August

Thursday, 27 July 2017 11:36

Hot Property - August

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Tyagarah Development

Talking about Hot Property. With the “Mega” West Byron development still mired in controversy and opposition, Byron Shire Council will be soon be opening up a new battle front. At 29 Buckleys Road at the end of Grays Lane Tyagarah there are 214 acres already zoned for Tourism. Looks like the owner is on the verge of having it rezoned Rural Residential with State Planning and listing it. Since the land ticks all the boxes – close to Byron, high with ocean views and beach access, the price tag could be as high as $150M.

If successful the development could get access direct to Ewingsdale Road through Quarry Road. The owners have also been in discussion with Elements of Byron to extend the Byron Bay Railroad Company train line all the way to the new suburb. The subdivision could include up to 350 house sites, a conference centre, two camping grounds and stables.

The owner is Michael Hunter the founder of chemical company Bracton Group and has spent 20 years in development on this site. Ex local resident Tom Misner, who built the SAE campus, was once a part owner. Existing residents may get some comfort knowing that at least one day Grays Lane, often flooded and a prize shock absorber killer, will finally get fixed properly.

Land for $150,000

If 150 million is too rich, how about 150 thousand? In Cumbalum west of Balina and under the new highway there was a three acre parcel of land with sheds, fences and creek frontage for $150,000. It pretty cheap as it does not have a building entitlement. As expected, its too late as it quickly sold so this is an old story.

Byron Commercial

The medical centre at the south end of Jonson Street – opposite Mitre 10 – has been for sale for a while and is back on the market. It is listed with Karin Heller from Parkinson’s REA and looking for around mid 2 million. It is currently being used for consulting rooms and house is 6 bedrooms, 1 bathroom and 12 car parking spaces.

Manufactured Home Estates

Get ready to hear lots more about MHEs, or the preferred term is looking to be LLCs (Land Lease Communities). Many investment and development institutions are looking at Manufactured Home Estates as the big growth area for the future. They may well be the answer for the massive shortage in senior living and affordable housing.

According to Australian Institute of Health and Welfare projections, by 2056, there will be 8.7 million older Australians (65 years+), accounting for 22% of the population. Where we are going to put them all? In small or tiny homes on leased land with shared community facilities?

Like this one in Sanctuary Village, Lennox Head

2 bedroom, 2 bath and SLUG, AC and with access to two swimming pools, tennis court and community hall. Cost $350,000 and $168 PW land lease.

Industrial Unit in Billinudgel

Industrial units are getting scarcer and more in demand. There is one in Billinudgel just listed for mid $400s. Will need a bit of TLC but also includes a 1 bed 1 bath apartment. Listed with Julie Ann Manaham at Rain and Horne Ocean Shores.

TripADeal boss buys in Belongil

Richard Johnston, co founder of TripADeal.com, has purchased a 1207 M2 property fronting Belongil Creek. He and his partner, Clair Alexander, paid $2.31M for the home with a jetty and a gazebo over the water.

As a sign of the future of the region, the Internet company, which promotes travel deals online, is now the biggest employer in town with 56 staff. This is higher than the previous highest employer, the now defunct chicken processing plant on Ewingsdale Road. Richard and his co-founder Norm Black, credit much of their success to starting the multimillion-dollar global business in a town better known for board shorts rather than boardrooms.

Xavier Rudd reduces price

Locally based singer/songwriter Xavier Rudd, currently touring USA and Canada, has relisted his New Brighton property with a new agent and a reduced price. It was on with Raine and Horne New Brighton for $2.695M and is now with Katrina Beohm REA at $2.39M.

“This goes with that at Sussan”

Victoria’s richest woman, Sussan Group (clothes store chain) boss Naomi Milgrom is mixing and matching with Byron Bay's exclusive property. She now owns three adjoining properties on Lighthouse Road, overlooking the iconic surfing spot of The Pass. The three purchases together now total 2,800 sqm with a combined value of $17.5 million.

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