Around the traps
This month I attended an auction for local clients who got a new home at Lofts Road Coorabel. There were three strong bidders on the day so it went to the top of where I was comfortable for my clients to go to – $1.2M. It is a nice 4 bedroom house on a very beautiful 6 acres in Coorabel. The land has an excellent aspect, private and quite and will accommodate any degree of expansion or renovation into the future so plenty of upside potential here. Agent was Kaye Wilkie from Ray White Byron Bay.
A client and I were close to bidding on interesting property in Byron’s Pacific Vista Drive. The owners made a new build looked old and distinctive. The three story house had the distressed industrial look with recycled timbers and windows. These things can be hit and miss but this one was finished fairly successfully. It auctioned last Saturday and got to $1.783M after some tortuous bidding. Auctioned by Tara Torkkola from First National Byron Bay.
Currently For Sale
Shirley Street Byron Bay.
As I already mentioned not a huge amount of stock out there at the moment. I am sure many of you have noticed all the new activity along Shirley Street as you are entering town from Ewingsdale Road. All those stuck in traffic coming in to Byron Bay will notice some of the new apartments.
First on the left is “Kaylani” which is still under construction. The large, almost 300 M2 4 bed 2 bath townhouses are listed for 2.1M for street side and 2.2M for off the street. Further down on the same side at 51 Shirley are four new town houses recently completed and sold fairly promptly also at the $2M mark.
Then on the right just before the old hospital site is a holiday let property for sale. It has been renovated very efficiently and is a rental machine. All bookings and reception is handled online and guests see themselves in and out with pass-codes. All up it is 6 seperate rentals – four of them single room bedrooms with shower, toilet and breakfast bar. It is expected to sell for mid $2M but nets a tidy $250K PA so has an almost 10% yield.
Places of interest:
I am keen on the northern end of the shire at the moment. I like the Pocket and Middle Pocket at the moment and think there are a few things of good value. Also have had cause to look more closely at beachside New Brighton lately and also think we have upside here. These properties may already seem overvalued at $1.5M and over for absolute beachfront but I think they are yet to be discovered for the hidden gems they are. I think its more peaceful and pleasant than Alkorn St Suffolk Park.
Rail Trail update
While I am at the Northern end of the shire, it was a bit woeful the council’s recent decision not to take up Tweed Shires offer of extending the Tweed rail trail all the way to Billinudgel. The sensible middle path here is to push on with the Rail Trail for bikes and walking while we have the chance. Mayor Simon Richardson is adventurous to go for a multi use option, and being a visionary is to be applauded, but think it unlikely he will pull it off. As for TOOT (trains On Our Tracks) idea that we will ever get the rattlers back on the outmoded track I put in the same category as climate change deniers and flat earth enthusiasts.
Elements of Byron – coolest on the planet
Congratulations to the Elements of Byron Resort for being named one of the 25 coolest places on the planet as decided by Forbes Magazine. The only other Australian location was the Old Clare Hotel in Sydney. At the same time the hotel was shortlisted by the Society of British Interior Design.
Local artist were asked to contribute to the interior – including my good friends Suvera McDonald and Jules Hunt. When I look back at all the heartache this site has caused the community over decades lets be glad it finally got settled with a good outcome.
Bangalow Industrial Development
This one will be a tough one for the new council. Actually it will probably miss the BSC and go straight to the Land and Environment Court. The Bangalow Progress Association is against the proposed “Food Hub” opposite the existing industrial park on Lismore Road in Bangalow.
It is understandable the residents want to maintain the charming rustic feel of Bangalow. This development will also be pretty big: 65 acres and with a $23.5M price tag. I have mentioned in previous blogs how our local food industries are taking off and this is another example. The keystone tenants here will be Brookfarm, the makers of the excellent muesli and Salumi Salami currently in Billinudgel.
Both businesses are long-term local providores with deep community connections and commitments as well as being Byron Shire success stories. They, and other prospective tenants, need room to expand their businesses. If they cannot build this they will have to leave the shire and set up shop somewhere else. It needs to be big for the big trucks to pick up and deliver but they do not need to go through town. This is a tough decision and lets hope we can get it right. Its a thin line that needs to be walked between allowing the right development while retaining our unique charm and flavour.