More off the plan apartments slated for prime Casuarina Beach development site
Casuarina, a quiet suburb on the fringe of New South Wales and Queensland in the Tweed Shire, was long a quiet neighbour to the more well known Kingscliff.
It was popular for weekenders from Brisbane and the Gold Coast, and holiday homes for those further afield in Sydney, as well as retirees and families.
Large houses make up the majority of the residential spread, but new opportunities on undeveloped land has seen apartment developers descend on the coastal suburb.
Holm Developments and joint venture partner DeMartini Fletcher put it on the map in the off the plan apartment market when they announced PAMA, their 47 apartment project on Grand Parade, in 2021.
Last year Brisbane-based Azure Developments filed for a 91-dwelling coastal resort with both apartments and terrace homes on the same street.
Azure's plans for their Grand Parade site. Image supplied
Now Clarence Property has listed one of the last undeveloped beachside sites through CBRE, who is expecting interest from both Australian and offshore developers.
The one hectare offering, split into five lots of land, is also on Grand Parade, just 100 metres to the beach.
The five sites range from 1283 sqm to 2,482 sqm offering a combined total of up to 9,663 sqm, with access from and frontages to Grand Parade, Candlenut Street, Black Wattle Circuit, Habitat Drive and Blue Horizon Drive. They're being sold either separately or in one line.
Holm and DeMartini Fletcher paid $8.69 million for their 4,083 sqm PAMA site in late 2021, while Azure spent nearly $21 million on their larger 7,354 sqm site around the same time.
Over 70 per cent of the 47 apartments in PAMA have sold. The project is now under construction through Hutchies.
CBRE Gold Coast managing director Mark Witheriff and associate director Daniel Doran, together with Colliers director of development sites Brendan Hogan and Gold Coast director-in-charge Steven King, are marketing the sites in an expressions-of-interest campaign closing on August 16.
Witheriff said he expected a bevy of premium residential and mixed-use developers to run the rule over the sites which are approved for a mix of three and four storey developments up to 13.6 metres in height.
“This is an unprecedented opportunity to deliver a landmark mixed-use promenade precinct close to the beach offering unimpeded ocean views from the upper levels within one of the most sought- after coastal communities in the country,” Witheriff said.
“The approved Casuarina Beach Town Centre plan permits a broad range of uses including shop-top housing with ground level commercial, medical and retail spaces fronting Grand Parade as well as three-storey residential-only boutique apartments.
Colliers agent Brendan Hogan said the range of convenience amenities in walking distance, including the thriving Coles- anchored Casuarina Village as well as The Commons retail and dining precinct, strengthened the appeal of the final precinct of Casuarina Beach.
The five beachside lots. Image supplied
“It’s not just the Casuarina Beach community that has come along in leaps and bounds in recent years but the wider region as well, with more than $1 billion in major infrastructure projects adding to its transformation,” Mr Hogan said.
“Casuarina Beach is just a five-minute drive from the new $723 million Tweed Valley Hospital nearing completion and due to open early next year and under 20 minutes’ drive to Gold Coast International Airport, which recently underwent a $260 million terminal expansion.
“The region is playing host to a massive amount of investment which is underpinning strong population growth and sustained long-term growth in property values.”
They are located within the Casuarina Beach Town Centre, which enjoys NSW State Government concept plan and project approval, which details the applicable built form and land use provisions permitted.
