Jonson St. Byron Bay
The main street of Byron Bay will be seeing some changes over the next few years. A lot of this transformation will be driven by the Byron Masterplan process, which began a few years ago. But some of the privately owned commercial property is about to see changes as well.
- The Mercato complex will be opening in late February. This is on the southern end of the Woolworth’s site. It will include shops, restaurants, below ground parking, and the reopening of a nine-screen Palace cinema.
- Woolworths will be moving into the Mercato complex and become the major tenant. The Woolworths site has just had a DA submitted and will be on public display soon. The DA is for accommodation and a hotel totaling 142 rooms in all. That seems like a lot and is probably a gambit claim – they ask for a lot and prepared to par it back.
- Further south along Jonson St., two blocks are listed together – 116 and 118 Jonson St Byron and is a total of 4282 m2. It currently includes a block of units and the Holiday Village Backpacker complex. The property is listed with Tony Farrell at LJ Hooker Byron Bay with an EOI that closes on Feb 8th. This siet will probably be then developed to access the three stories allowed.
- Expect a bit more activity at far southern, Mitre 10, end of Jonson St. The proposed Jonson St Bypass will be joining up to Browning Street. There is a DA already in play on the eastern corner of Jonson and Browning. I was in council recently and, by chance, saw the plans for the bypass and the Transport Hub, so that is well advanced.
An auction took me to Yamba last Saturday. My clients originally wanted me to find for them an original cottage in “The Hill” area of Yamba. This is the few blocks of residential homes and apartments between the Yamba town center and the coast. It is a very tightly held area and properties there are passed on to family members or occasional off-market sales. With fairly stiff competition, we managed to get this 2 bedroom duplex close to town and the river for under $500,000.
BPS works between Ballina and Tweed Heads usually. Since there is no qualified buyers agent between Newcastle and Ballina, I occasionally find my way heading south to Coffs Harbour, Yamba and even Port Macquarie. It is my usual fee plus a travel/car levy.
Nimbin on a high.
Even though I am not running for public office I don’t mind admitting that in my past I have imbibed – and inhaled. That may explain why I have always had a soft spot for Nimbin. It is a long way from being a Hot Property market, but my sources tell me that sales there are moving along there quite nicely apparently.
I assumed many retirees and people wanting to escape the city would enjoy the eclectic, low-stress lifestyle available there. Lots of people are looking for low-cost housing, in a quirky interesting location, but the mainstream is yet to fully embrace Nimbin.
Here are a few things of interest in the Nimbin area:
Alternative Way, Nimbin
Byron based land developer, Tareeda have released another 5 new vacant lots. Selling for $225,000 they are large blocks around 900 M2 (duplex size) and are listed by Nimbin Lifestyle Real Estate.
52 Thorburn Street, Nimbin
Just on the outskirts of Nimbin is this large well-made mud brick home. Its 3 bed, 3 bathrooms on 20 acres. It has pleasant rural views, a wood burning fireplace, and other charming features. But the most interesting point is it is zoned ‘Village’ and with a bit of work with a planner, you may get to be able to subdivide a few blocks of it. Well priced at $760,000 and listed with John Wilcox and Nimbin Hills Real Estate. This basically half price to something similar on this side of teh range.
14 Dunromin, Modanville
Just south of Nimbin is a small town called Modanville. This property is a 5 bed, 3 baths, 7 car space Bed and Breakfast business being sold as a going concern. It is on an acre and a third of land with a pool and views. It is being sold by the wonder and any inquiries can be made through us here at BPS. Asking price is $990,000 negotiable.
When the market cools, I often see more off-market sales. There are still buyers out there and still sellers. However, buyers are in no hurry to jump in and commit. Only if it’s at the right price and the right house. Likewise, sellers are no longer tempted to test the price in a strong open market, with a chance of getting over market value. Many sellers also do not want to go through the hassle of a public listing.
Some of the agents I deal with work a lot with sellers who are in this position. This is mostly with the top end products. If you are in this situation and are half in mind to sell but wish to stay under the radar, please feel free to contact me. Absolute discretion is guaranteed.
Beachcomber Drive, Byron Bay
Another area that is overlooked and has ongoing potential is the area east of Bangalow Road, south of Byron town. Specifically the streets close enough to walk to the beach. End of Scott Street, Coral Court, and Beachcomber Drive are quite areas of Byron and a good location and short walk to fabulous Tallow Beach. There are a few off-market options in Beachcomber and Coral Court at the moment and I can talk to anyone who wants to find out more. Current listings I find interesting are:
- 20 Scott Street is a 4 bedroom house at the beach end of Scott Street. It has a good layout so will benefit well from an inexpensive renovation. Listed with Su Reynolds at First National for $2M.
- 2 Seastar Court is a 4 bedroom brick home on a large block just off Beachcomber Drive. It is being auctioned on 23rd March by Jeremy Bennett and Byron Property Sales. $1.7-1.9M is expected.
1 Taylor Road, Eureka.
Not long ago Eureka would be too far away for most buyers. It is popular now and I have seen the demand jump over the last year or so. Especially since soccer legend Tim Cahill, and a couple of other identities, purchased in this area. This 4 bed, 2 baths house on 4 acres looks like good value at just under $1M. Speak to Ku Darroch at Real Estate of Distinction.
Tallowood Ridge update
Only two blocks left in the latest release at Tallowood Ridge estate, Mullumbimby. Lot 147 is an attractive block with a Northwest aspect over reserve. Listed for $425,000. Lot 154 is slightly larger in size (691 m2) and is listed at $420,000. Next release will be stage 6A and should be expected at the end of the year, at the earliest. Contact us here at BPS if requiring any more info about Tallowood Ridge.
Bathing Box, anyone?
Melbourne’s bathing sheds are a hangover from the British who liked to bathe with decorum. This bathing box has hit the market for the first time and is in Portsea. They have a set a potential bathing box record-breaking guide of $300,000 to $330,000 for its Australia Day auction.
The current record was set in April last year when one of Brighton’s newest beach boxes sold for $337,000. A more likely record breaker is further down the beach where bathing box number 8 has been listed with a $450,000 to $495,000 guide.
17-year-old buys for $17.5M
Caleb Wang, the seventeen-year-old son of Chines Billionaire Wang Qinghui, has just purchased his first home, Bishopscourt. It is an 1840’s sandstone mansion in Darling Point Sydney with the price tag of $17.5M. Is it possible that Caleb, as a resident, is merely saving his dad some stamp duty? Caleb will be paying $1.45M stamp as a resident while Dad would be due $2.5M. Wang senior was born a rural peasant but made his money being an early investor in Beijing Telecom.