Olivia Newton-John home on the market
Two years after Olivia Newton-John shot to fame on the back of the 1978 film, Grease, she flew to Ballina to look for refuge. She bought a property north of the township of Alstonville. I have been to the house and it is lovely, especially if you like French Provincial.
In the early 80s, she also purchased most of the adjoining lots. It is now a 55-hectare holding that includes pasture, a creek, two dams, and a tennis court. Around 2005, with partners, she purchased an old tourist facility near Brooklet. The now very successful Gaia Retreat and Spa became her refuge when in Oz and the original property was more or less redundant. It is now on the market for $5.5 million with her childhood friend Jillian McGrath as the McGraths selling agent.
Suffolk Park #1
As per the previous story in Around The Traps, Suffolk Park was the #1 suburb in median house price growth in all of Australia in the last 25 years. It had a median house price growth of 1496% in that period. I thought I would give an overview of what your money can get in this stand out suburb.
3 Hayter Street
This is a lovely modern three-bedroom home with a pool. The LUDG has been converted into an artist studio. A completely separate 2 bedroom legal studio can be accessed through the back lane and it rents for $750 PW. It is listed with Su Reynolds at First National and looking for $1.95M.
34 Armstrong Street
Four bed, three bath and a self-contained 1 bedroom studio. Tasteful, newly renovated, it is listed with Tara Torkala at First national – $1.8 – $1.95M.
83 Alcorn St
The only beachfront for sale at the moment. This one is listed for $2.6M with Vicky Innes at Byron Property Sales. It is quite nice but will need some work done in a few years. Beautiful view through trees and a short walk to Tallows beach over the dune.
Properties on western, non-beach side Suffolk Park are quite a bit cheaper. This basic three bed, one bath brick house on 429 M2 is going to auction on March 23. Will probably get around $800-900K
Ocean Shores Duplex blocks
This month I have been researching good deals in Ocean Shores. The brief from the client was to find a duplex block (over 800M2) or a property with an easy conversion to a second rental. I found a few good options but now the client has changed direction. Shame to let this good research and opportunities go to waste. But these buys don’t last long. Any reader looking for something that has good value as well as value adding potential should contact me direct.
Tallowood Ridge: Stage 6 Release
The next stage of Tallowood Ridge Estate in Mullumbimby is now available. There are 18 blocks and nearly half have red spots on them already. Some have forest on the borders and the average size is 993 M2. Most blocks have views and north aspect, with prices that range between $340,000 – $395,000. Close to half already have a name against them and are pending. There are still a few left on the top of the ridge with good views. Happy to show anyone around on site if you want to have a look.
Vacant rural land, a spitting distance from Byron, is still in demand. Coupled with a shortage of supply this means prices will remain high, even in the general cooling in the market. This 6.6 Ha at 331 Binna Burra Road Binna Burra is a good example. These single lots come up every now and again, and if good, do not last long. This one is listed with Su Reynolds at First National Byron for over $1.25M. This one has views, a double shed and a bit of infrastructure already in place.
Since the release of a few Community Title lots last year at Fowlers Lane and Keyes Road, I do not see a new release of rural residential lots for a while. There are two CT subdivisions currently in process with the council and the earliest they will be available as pre-sales is later in the year at best. Happy to show people where these will be if you have an interest for long term planning.
Mill Yard Mullumbimby
This was another ongoing contentious DA that meandered its way through council. This was council-owned land just south of the Council Chamber on Station St. This will be the first attempt at council to have a hand in encouraging affordable housing. Just a slither admittedly. Of the 22 units, four will be rented at 80% of market rent to essential services – police, nurses, teachers etc.
The project is being developed by North Coast Community Housing based in Lismore. Most are one bedroom with a loft/office. I like the plans and think it will be a good place to live. Good value at $400 – $450,000 off the plan. Probably be 18 months to two years before completion. It is being sold through Professionals Mullumbimby, but I am able to give people an overview of what is happening.
Bangalow Industrial Land
Byron Shire has very little vacant industrial left. Council is in a panic on where and how to rezone more. This 1859 M2 in the Bangalow Industrial Estate is one of the few large blocks left. Listed with Paul Prior of First National and looking for $1.6M.
2B Beachcomber Drive, Byron
I get to see a lot of properties. I get to see people doing makeovers of old homes and then flicking them for profit. Some good, some not so good. It’s not as easy as it looks. This is one is pretty good in that the design and layout are well thought out if not completely original. The look is newsstand/house and garden magazine but works. Five bedrooms, three bathrooms and a rumpus room garage. Mid ones and going to auction in March with Karin Heller from Parkinson’s.
Northern Rivers going to Pot
Elixinol Global Limited just paid $2.6m for 60 acres of land somewhere in the northern NSW. They plan to use the property to grow medical cannabis. They should find many willing and experienced workers in the hills around Nimbin. It’s so confident in the healing properties of hemp, it’s renamed its subsidiary, Elixinol Australia Pty Ltd, to Nunyara Pharma Pty Ltd. “‘Nunyara” is an Australian indigenous word meaning ‘to be made well again’.” The land also includes a 5000 sqm footprint on a block inside the property for the first stage of a “planned facility” – namely, greenhouses.