Hot Properties

Demand is strengthening for the good homes on the Tweed Coast. Casuarina, Kingscliff, and Fingal are seeing strong interest due to price growth on the Gold Coast, which is making these properties look like they are of good value.

This property at 35 Queen St, Fingal Head is now being discussed as setting a new record for Tweed Shire. It is for sale with a vacant block beside it offering extra vacant land, including the reserve, which you can walk through to get to the beach. The seven-bedroom and five-bathroom home will be auctioned on April 13th. Listing agents from Coastal Property Collective are not quoting a range but showing similar properties sold between $10-15 million.

Famous Australian golfer with Donald Trump’s mobile on speed dial is currently scouting property in Byron Bay.  Brisbane-born Greg Norman would now have more time on his hands after being dumped as the face of the LIV golf tournament. Norman has viewed all the top-end properties for sale: Tom and Emma Lane’s Copperstone Retreat, Ohana at Broken Head, Hercules in Coopers Shoot. He inspected Cederdale in Bangalow twice at different times of day but has not settled on anything yet.

Norman and wife, Kiki, have sold a property in Florida, “Shark Shack”, and have had long-term plans to move back to Oz. He says he misses the sounds (the birdlife) and smells of Australia. I know Greg Norman was born in Brisbane, as we went to the same high school (Aspley High), and he was in the grade above me.

The 224-hectare site known as North Byron Parklands is up for sale. The site is owned by a syndicate that includes local developer and festival promoter Brandon Saul, who said, “I think the loss to our festival industry is, on balance, a loss for the shire – but ultimately, the decision wasn’t up to us.”

Large festivals, like Splendor in the Grass and Falls Fest, were regularly held there, with eight event days each year. These festivals were owned by the multinational touring company Live Nation, and the sale of North Byron Parklands was announced after confirmation that the festivals would not return in 2025.

Although a small section of locals consistently opposed the festivals, the employment and economic uplift they brought to the shire were indisputable. It also positively contributed to the community with substantial support for local charities and community groups. Claims that the owners were not environmentally sensitive to the site are also ill-founded, as the owners conducted extensive forest regeneration and transferred sensitive Indigenous and ecological land to the Billinudgel Nature Reserve.

“It’s the largest land holding in Byron and enjoys a whole raft of planning approvals that would suit a variety of uses”, Brandon said. “It is perfect for festivals, and many things will be possible there.”

The Freehold Land and Buildings of North Byron Parklands, located at 126 Tweed Valley Way, Wooyung, NSW 2483, are being offered for sale via an international Expressions of Interest campaign, closing on Wednesday, April 30th. The EOI does not disclose a sale price, but $35 million is being floated.

Since we are investigating Ocean Shores and the North of the shire for this issue, let’s do a property overview. The median sale price for Ocean Shores for houses is currently $1,105,000. This is a drop of 7% in the last year, but units have risen 4.2%. Time on the market has increased to around 70 days, while sales increased to 133, compared to 113 last year.

38 Banool Circuit, Ocean Shores

This is the kind of property that is a safe bet. High up with views and solid brick but with good bones, it could be transformed into a classy, contemporary home in the right hands. This one is close to the area’s medium price of low ones.

8 Tongarra Drive, Ocean Shores

Tongarra Drive is possibly the most prestigious street in OS. Like some sections of Coolamon Scenic Drive, it has a perfect north aspect, protected from the southerlies and ocean vistas. Therefore, it will always have good capital gain potential. This property is on a good block and is in reasonable condition now but will require a makeover in a few years. Listed at around $1.9 million, it should have value-adding potential.

3/16-18 Balemo Drive, Ocean Shores

I occasionally hear of a group of friends wanting to buy something together. This is an opportunity, as this two-bedroom unit is one of four in a block, and two more will be coming on the market soon. This Unit #3 is neat and comfortable, and the owner has done some tasteful renovations already. The owner is asking for low 800s but is open to offers.

13/2 Langi Place, Ocean Shores

This unit complex on the golf course has always interested me, as it has good views and a pleasant open-plan design. However, I have noticed over the years that they fail to increase in value with limited capital gain. This two-bedroom is good at $880-940K, but it needs some work, including a new kitchen and bathroom.

This 127-acre property is back on the market after a failed sale campaign a few years ago. It had an offer accepted at over $10 million, but the sale fell through. The main house is an Italian-style villa, and the fruit orchid is a fantastic specialty fruit supply to local restaurants. The location does make this property special for land banking as this acreage would make an ideal location for a new medium-density village – if that ever came to pass. It is on the rail trail and flood-free. Talk to Nick Russo at Ray White Byron and help solve the housing crisis if you are a visionary entrepreneur.

The owner of Rae’s at Wategos, Antony Catalano, has decided to take Byron Shire Council to the land and environment court. The disputed DA concerns the last major piece of highly prized Wategos Beach’s developable land. He wants to build two mansions on the 4000-plus square metre block—multi-level dwellings with 10 bedrooms and several pools.

According to the development proposal, it’s a “family home.” Catalano has nine kids—that’s one bedroom each, but presumably, they’ll have to learn to share the pools. Locals and the council are concerned that the completed development will switch to a hotel similar to Victoria’s and other properties that have taken this route. The long-term residents I have talked to are unhappy about the plan but are also long-term resigned that their little piece of paradise is now a money honeypot.

Catalano claims his plans for the block are preferable to the mass subdivision into as many as 17 blocks were on the cards before he bought it. He says the design will also improve the quality of the rainforest, and the council once said they liked it. Catalano is no stranger to being a property insider. He owns several regional newspapers and founded the successful Domain property search site. He is no longer with Domain, but coincidentally, Domain just put out this glossy account in Australia’s best seaside suburb.