A first project in one of the Tweed Coast’s most prestigious residential areas, Casuarina, has hit the market with permits in place for a four-storey boutique project.
The shovel-ready project, which gained progress approval in March this year, is being advertised through Colliers and an expression of interest campaign co-ordinated by Brendan Hogan, Troy Linnane and Jackson Robinson.
Located at 6 Grand Parade, Casuarina, it is 7,354 square meters and is within the Casuarina Beach Master Plan, adjacent to downtown Casuarina 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 divestiture will allow us to expand our $1. 5 billion townhome portfolio,” said Azure CEO Chris Schroor.
Brendan Hogan, Residential Director at Colliers, said: “This provides an incredibly rare opportunity for residential developers to take advantage of a well-thought-out allocation with progression approvals 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 assignment comprising 78 apartments in a mix of configurations, complemented by a variety of community amenities for residents.
Troy Linnane, residential director at Colliers, said: “We expect this to attract significant interest from local and national developers.
“Casuarina is among the most sought-after spaces by homebuyers on the Tweed Coast, provides easy access to the beach and close to urban amenities, adding the new Tweed Coast Hospital, and now has an average asset value that exceeds that of the prestigious Byron Bay. area.
“This will suit a client wishing to bring a commission of this scale to market quickly. This is probably the last and largest coastal opportunity of its kind.
The site is put up for sale as an expression-of-interest crusade that closes on Wednesday, September 18, 2024 at four in the afternoon.