Land Sale

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A Sunshine Coast businessman has purchased a parcel of vacant land off-market for $5 million in Maroochydore.   The 95-105 Dalton Drive property, a 6,547 sqm plot, was at the western gateway to the Sun Central CBD development.   The vacant land parcel was sold by Ray White Commercial Noosa and Sunshine Coast North real estate agent David C Smith.   Mr Smith said an astute local businessman was looking for a "large parcel of inner-city land to future-proof his business."
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Mr Smith said, “work on this end of the Sun Central development won’t be undertaken for some time, but the entrance statement land on Dalton Drive fulfilled the requirement of the buyer and was pursued for some time, until a satisfactory result was reached,” he said.   “Other than the Sun Central land development, which unfortunately couldn’t accommodate the prospective purchaser's needs, the only available vacant land was in Dalton Drive.   “The buyer said it was a privilege to have the prospect of designing a building that will sit at the western entrance, and will project the image and vision of the new CBD," he concluded.
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Vacant Maroochydore plot sells off-market for $5 million

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One of the last beach house precincts remaining on the Gold Coast is enjoying a surge in sales activities with buyers on the northern Gold Coast at Paradise Point.
Sovereign Shores on the northern tip of Paradise Point has enjoyed more than $30 million in sales as buyers look for waterfront land in an enclave with 240-degree water views overlooking The Broadwater.
Only a handful of blocks in the first stage of 39 remain for sale.
The offering, being marketed by The Ray White Runaway Bay Group on behalf of well-known Brisbane Developer Metacap, is being developed on the location of Little Beach, a popular beach peninsula precinct opposite exclusive Sovereign Islands.
Ray White’s Ali Mian said local, interstate and international buyers looking to develop luxurious modern beach homes had shown keen interest in the first stage of the development, which only has a total of 60 lots and is being released in a limited two stages.
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“The response has been very strong, particularly from local buyers who are captivated by the stunning waterside location,” said Mr Mian.
“The demand we have already experienced, coupled with the settlement of some of the early purchases, has allowed the developer to bring his attention to releasing stage two imminently.
“Land of this calibre within reach of lifestyle amenities is quite rare at Paradise Point and basically once the 60 lots are sold there will be no waterfront land remaining in what has emerged as one of the city’s most exclusive suburbs.
“We’ve even had a buyer from New Zealand secure a lot sight unseen after searching online for opportunities on the Gold Coast.”
The Ray White Runaway Bay Group general manager Ian Spurle credits the success of the Sovereign Shores land release to the flexibility that residential sites offer buyers.
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“The lots are quite unique in terms of what buyers are able to build on them and this has been very appealing to our buyers,” said Mr Spurle.
“You can occupy up to 60 per cent site coverage as of right, but there’s also a zero-lot provision that allows for more flexibility in home designs and better use of the site.
“You can also go to three levels and have a rooftop garden, as well as a full basement level.
“Under this scenario, you can actually strata-title each of these levels to create three dwellings, which is quite unique.”
Sovereign Shores residents have access to marina berths that offer a bridge-free passage to the Pacific Ocean.
Resident facilities include a recreation centre, fully equipped gymnasium and the choice of three swimming pools.
Local amenities include a restaurant, bar and coffee shop, while the popular Paradise Point restaurant and shopping strip is just a short stroll away.
Sovereign Shores lots are priced from $589,000 and range in size from 400sqm to 651sqm.
Metacap was incorporated in 2005 by seasoned developer Alex Jimenez, and has since completed more than 1000 town houses, high-rise apartments, residential subdivisions and commercial developments in Gold Coast, Brisbane, Sydney and Melbourne. 
Metcap, which has a $155 million development pipeline, has successfully delivered a diverse array of developments through various economic environments, making it highly respected in the industry. 
The Ray White Runaway Bay Group has offices at Sovereign Island, Paradise Point, Runaway Bay and Pacific Pines.
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Buyers snap up Paradise Point land offering at Sovereign Shores

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Resimax Group has announced a joint venture acquisition with Hyde Property Group over 218 hectares of land in the Eynesbury Township in Melbourne's west.
The partnership deal is set to fast-track delivery of key infrastructure in the area, including the development of Mt Mary Road, which will connect the Eynesbury Township, home to 2,400 residents, to the city of Wyndham.
It will also fast-track the development of the state government primary school and Eynesbury's sporting facilities.
Resimax Group's delivery team will be at the helm of the project.
Resmiax Group managing director Ozzie Kheir said they are thrilled to work alongside Hyde Property Group to deliver on the potential of Eynesbury Township. 
"Eynesbury is one of the most exciting developments in Australia, both in terms of its scale and potential end use – the opportunities are endless," Kheir said.
“When you visit Eynesbury you can’t help but fall in love with the place – from the protected native vegetation that sprawls the estate, the 18-hole professional golf course and the heritage bluestone Homestead with cosy fireplaces, you instantly feel at home.
“In years to come I have no doubt Eynesbury will be known as a premium housing estate with a great community and we look forward to working closely with the existing Eynesbury community to re-invigorate the Township and open up the unique Eynesbury lifestyle to a whole new group of residents,” said Kheir. 
Russell Jackson, CEO of Hyde Property Group, said they chose to partner with Resimax Group over a number of offers as it provides continuity of delivery with the existing Eynesbury Township. 
“The purchase and associated refinancing of the site allows us to ramp up delivery of key infrastructure that will open up the Township to the City of Wyndham and improve the connectivity with the City of Melton," Jackson said.
“We thank our residents and stakeholders for their patience during this process and believe that the deal we have brokered is an incredible outcome for everyone associated with Eynesbury."
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Resimax partners with Hyde Property Group for 218 hectare Eynesbury development

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<div>A 2.33 hectare block of land has been sold to a south east Queensland project developer and builder for $6.4 million.</div>
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<div>Located at <a href="https://www.realestate.com.au/sold/property-residential+land-qld-taigum-202087566" target="_blank">281-295 Handford Road, Taigum</a>, the cleared, elevated site has access to water and sewerage infrastructure and is in close proximity to local shopping, education, recreation and public transport facilities.</div>
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<div>The deal was jointly brokered by the Ray White Special Projects Queensland team of Mark Creevey and Tony Williams.</div>
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<div>Mr Creevey said the land sold following a six-week expressions of interest campaign and enquiries were high.</div>
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<div>“Throughout the process we had 70 enquiries, and at the close of the expressions of interest period, we had eight strong offers to consider,” he said.</div>
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<div>“With the site ripe for development and being only 14.5 km north of Brisbane CBD, we’re pleased to see that so many people appreciated the opportunity that was on offer.”</div>
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<div>Mr Williams said while the site was originally approved for 104 x 3 bedroom townhouses, there was interest in the site for a variety of potential development outcomes.</div>
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<div>“Despite the townhouses being aimed towards the investment sector, there was also strong interest from the market from groups seeking to undertake a variety of other residential uses, including lower density townhouse development, land subdivision and retirement/aged care,” he said.</div>
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<div>“The strong level of enquiry is evidence of the continued demand for approved residential in-fill sites in the Brisbane City Council LGA.”</div>
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Approved Taigum development site sells for $6.4M

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Speculators are snapping up land lots in Melbourne and then selling them for higher prices to cash in on the surge in lot prices in the city’s outer suburbs.
In response, Melbourne greenfield developer Villawood Properties has changed its sales contracts to block sales on its land lots by speculators.
Villawood says it is illegal, with the main driver being the recent rise in prices of land lots in Melbourne and record low supply.
Prices are up $27,000 since the start of the year and heading towards a median of $300,000, according to project marketers Red23, The Australian Financial Review reported.
The law firm which draws up Villawood's contracts flagged the issue of purchasers nominating an alternative buyer.  
There are more than 250 lots for sale on Gumtree, with most of the contracts yet to settle.
"Speculators are buying lots because they are seeing that prices are going up. They are then reselling the contract for tens of thousands of dollars before they settle," Villawood founder and executive director Rory Costelloe was cited as saying by the AFR.
"I met a guy in the Good Guys recently, who told me he had paid $30,000 to buy a contract for one of our lots.
"We've had advice and believe it's not legal to nominate another buyer for profit."
Prolonged wait times for new lots to be titled – up to 18 months – is also driving some buyers to sell their lots to other parties.
Costelloe said Villawood doesn’t “want speculators in our estates”. 
“We want to sell lots to people who are going to build their homes on them," he said.
Villawood Properties changed its contracts last weekend so that only immediate family members can be nominated as an alternative buyer. 
The developer, one of the biggest in Victoria with 22 estates, will also restrict families to buying only one lot per new land release.
In one example, a buyer called "Isabelle" sold the contract to a lot in Villawood's Elements Estate in Truganina for $260,000. She bought it for $220,000 less than a year ago.
Another Gumtree vendor, "Sumit", told the AFR he was selling because his developer kept on delaying the titling of his lot.
"It was meant to be last November. Then they moved it to January, then March, then May. Now they are saying August."
Gumtree vendor "TK" said he was selling his lot in Merrifield in the northern suburbs because he had bought a bigger site elsewhere.
"I bought this site not even a year ago for $450,000. Now the same lots are selling for $550,000."
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Villawood says speculators selling off its Melbourne land lots for profit

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The former CEO of Channel Nine David Gyngell has teamed up again with his mate, John "Strop" Cornell to expand their Brunswick Heads holdings.
They've spent $3 million on the 1,012 sqm parcel in the northern NSW tourist town. It currently comprises two storey four units in a fibro dwelling with a huge backyard.
The site, which sold through Siwicki Real Estate agent Dave Bosselmann, sits across the laneway from the Hotel Brunswick, another of the duo's holdings.
Gyngell spent $5.25 million in 2013 to buy a half share of Cornell's Hotel Brunswick, a pub known for its classic Australian 1940s architecture with its courtyard beergarden shaded by giant poinciana trees. 
The coastal village pub was built by Jim Cavill overlooking Simpsons Creek and the Brunswick River. Locals reckon Brunswick Heads is what Byron Bay was 20 years ago.
The freehold of the pub was bought by Cornell in 1990 from Austotel for $2.1 million. 
Gyngell, who has a newly completed retreat in the Byron Bay hinterland, has been a family friend of the entreprenurial former comedian John Cornell and his wife, Delvene Delaney.
It was Gyngell's father Bruce who helped found the Nine network in 1956.
David walked away from one of the biggest jobs in the entertainment industry.
Gyngell and wife, journalist Leila McKinnon, have also just spent $1,675,000 on a three bedroom art deco apartment at Bondi Beach.
Gyngell outbid five others for the ground floor apartment, coming in with his first bid at $1.6 million after an initial vendor bid of $1.25 million kicked off proceedings.
This article first appeared in the Sunday Telegraph.
 
 
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David Gyngell, 'Strop' Cornell buy in NSW's Brunswick Heads

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The Melbourne suburb of Ivanhoe East is set for two sizeable land parcel sales with one 15,000sqm site having been 'collected' for 26 years.
On parcel of land, 14 Ivanhoe East, bordered by The Boulevard, Wamba Road, Wilfred Road and Cedric Street, is expected to sell at around $30 million.
According to title records they are owned by Stuart Morris, QC, and his wife Jennifer who purchased the land over 26 years.
In 2006 he attempted to develop eight blocks into a $21.5 million 92 unit retirement village which was met with a backlash from residents.
Colliers International’s Jeremy Gruzewski and Ted Dwyer have the listing.
Mr Gruzewski said the land parcel is rare, not only for its substantial size, but also because it is not affected by registered single-dwelling covenants, significant landscape overlays, or heritage controls, which affect much of this highly regarded suburb.
“With so much of Ivanhoe East under these planning controls, this supersite is an exception and represents a significant parcel of land ripe for redevelopment,” he said.
“With a median house price of $1.7million, Ivanhoe East is regarded as one of Melbourne’s finest suburbs and any redevelopment is bound to achieve premium prices.
“The four street frontages and parkside locale, just moments from East Ivanhoe village, make this a tantalising prospect for high-end apartment, townhouse or even retirement living.
“It is hard to put a value or a price on such a rare and unique offering that is probably never to be repeated.”
 
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Land collection listed in Melbourne's Ivanhoe East

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The Oatley family have put an untouched grassland parcel in Sydney's Hills district up for sale.
They bought the field of dreams in Glenorie in 2000 with plans to build an equestrian centre for the expatriate family member, Australian Olympian, Kristy Oatley-Nist.
But the 10 ha land that cost $983,000 at Moores Rd lies idle.
<a href="https://www.realestate.com.au/property-house-nsw-glenorie-123653246" target="_blank">More than $5 million</a> is expected by Mode Property agent Adrian Rovere for the sq m block which could set a record.
Kristy Oatley-Nist represented Australia at the 2000, 2008, 2012 and 2016 Summer Olympics. Married to professional footballer, Piotr Staczek, her primary training base is in Hamburg, Germany where she is a member of Trittau Reitverein in Germany.
Her first ride was at age two at the winemaking family's Muswellbrook farm.
This article was first published in the Sunday Telegraph. 
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Oatley family list redundant Glenorie horse paddock

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A 15-hectare site owned by the Gandangara Local Aboriginal Land Council in southern Sydney is on the market and is expected to fetch at least $45 million.
Raine &amp; Horne Commercial is managing the sale of the land in Sutherland Shire through expressions of interest.
The site has a pending development application and has roused the interest of local, interstate and overseas developers, according to an article in Urban Developer.
Anthony Bouteris, co-principal of Raine &amp; Horne Commercial Sutherland Shire, said the land is expected to realise $45 million or more. 
Gandangara Local Aboriginal Land Council CEO Paul Newman said the Land Council’s Board decided to put the 15-hectare subdivision at Barden Ridge on the market to fund its business through divesting some of its land.
“We will use the proceeds from the sale to help finance our community housing, cultural and heritage programs. We also operate a community transport service to support older members of the local Aboriginal and non-Aboriginal communities,” said Newman.
“We are also the only Aboriginal Land Council who operates a privately owned medical centre in Australia and the proceeds from the sale of the Barden Ridge property will support these services,” said Paul.
The gross realisation of the site is estimated to be about $105 – $110 million, according to Raine &amp; Horne’s Bouteris.
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Raine & Horne helps Aboriginal Council put southern Sydney site on the market

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Some 360 acres on the foreshore of Port Stephens at North Arm Cove on three separate land parcels is on the market, just off the M1 freeway.
Potential development on the site includes a tourist facility, backpacker’s accommodation, B &amp; B, camping grounds, caravan parks or agriculture.
The property was previously used as a horse riding school &amp; camping ground catering to backpackers &amp; outdoor enthusiasts.  There are also horse yards, a tack room, sheds, and riding trails as well as aa natural boat launching area on Bulga Creek for smaller watercraft, kayaks, canoes  &amp; dinghies..
A development standard applies to the land that fixes a minimum area of 40 hectares for the erection of a dwelling house in zone RU2 – rural landscape (Great Lakes local environment plan 2014 – now Mid Coast Council).
Expressions of interest close by 16 September, 2016 by close of business at <a href="mailto:info@coastalproperties.net.au">info@coastalproperties.net.au</a>  For further information please contact Bryan Stevenson 0419 384 569 or Ivy Stevenson 0432 705 766.
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