Builder secures beachside site for $10M townhouse project

first_imgAn impression of Arenna, a boutique townhouse development proposed for Kamala Crescent, Casuarina.A prime parcel of beachside real estate on the NSW Tweed Coast has sold to a Gold Coast builder who plans to deliver a $10 million boutique townhouse project on the site.Hipmar Group, trading as Hipwood Design & Construct, paid $3 million for the 2.372ha site in Casuarina in an off-market deal finalised last Thursday. A prime land parcel 45-47 Kamala Crescent, Casuarina has sold for $3 million.The block, at 45-47 Kamala Crescent, was sold by Brisbane developer EkkoPoint Properties who acquired the parcel as part of a 2008 land transfer and planned to develop the site. Selling agent Nick Witheriff of LJ Hooker Kingscliff said the sale price marks a high point for the area and a positive boost for local industry.“It was attractive for the seller because he was able to achieve what is the highest price for a block of that size on the Tweed Coast in 10 years,” he said.“The local builder moved quickly to secure the site because he has all of the local expertise in dealing with council and the approvals process to deliver that project.” MORE: Middle of the market set to lead post COVID-19 sales Could this be Australia’s best house The proposed Arenna development is 100m from Casuarina Beach.Based in Burleigh Heads, Hipwood Design & Construct is led by Troy Hipwood who lives in Casuarina and has family living on Kamala Crescent.It is understood Mr Hipwood was motivated to secure the site after having witnessed the frenzy of interest in the proposed townhouses.An application is before Tweed Shire Council for Arenna, a boutique building comprised of nine townhouses in a project worth approximately $10 million for the land and build.center_img The nine Arenna townhouses boasts a modern, sleek design.Six of the nine townhouses were pre-sold by the LJ Hooker Kingscliff team in the past eight weeks, another is under contract and the final two – Houses 4 and 8 – are on the market.More from news02:37International architect Desmond Brooks selling luxury beach villa7 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoLocated 100m from Casuarina Beach, the townhouses range in price from $829,000 (three bedrooms) to $1.099 million (four bedrooms) and boast modern, sleek finishes. “We had gone to market earlier this year with a townhouse concept on that site and we’ve sold more than 50 per cent before any approvals were in place,” Mr Witheriff said. Six of the nine townhouses have sold prior to development approval.Mr Witheriff said demand was driven by owner-occupiers drawn to the region by massive investment in infrastructure, including the Tweed Valley Hospital which is due for completion in 2023.“The Tweed Coast is experiencing increased growth off the back of all of the new amenity which is creating opportunities for people to live long-term in this region,” he said.“We have a lack of good quality new housing and land available on the Tweed Coast so buyers are moving quickly to secure that stock when it becomes available.” Plans for Arenna are expected to be approved by July with construction to commence immediately. RELATED: Global interest in glamping resort site Couple spends $1.45m on unit they’ve never seenlast_img read more