Lennox Head's Pacific Pines estate up for sale

DEVELOPERS from around Australia have shown an interest in Lennox Head's Pacific Pines estate since former owners Petrac went into receivership late last year.

Picture: www.realcommercial.com.au

DEVELOPERS from around the country have shown an interest in Lennox Head's Pacific Pines estate, now in the hands of PriceWaterhouse Coopers since former owners Petrac went into receivership late last year.

The 80.48ha property, with NSW Minister for Planning approvals in place for 832 residential dwellings with a total population of about 1737 people, was placed on the market this week.

The site is to be sold by expressions of interest closing Wednesday, February 25, and the campaign is being managed by Colliers International directors Jon Chomley of the Sydney office and Darrell Irwin of the Gold Coast office.

Mr Chomley and Mr Irwin said they have been fielding calls ohe last few weeks from around Australia, after interested development groups were referred to the agency from PriceWaterhouse Coopers.

“We have had interest from groups with residential, retirement and retail development capabilities or similar projects already in their portfolios, given the site has an existing concept approval,” Mr Chomley said.

The masterplan approval includes 481 residential home sites, 312 retirement units, a shopping centre, tavern and community centre and provision for medium-density housing.

Mr Irwin said a key element of the masterplan is much-needed local amenities such as the shopping centre, which presently would comprise of up to 3000sqm of retail shops, 800sqm of commercial floor space, 25 shop-top dwellings and 280 on-site car parks, and the 300sqm community centre to be designed in conjunction with Ballina Shire Council. Sporting fields also are included in the master plan.

“A long-term management strategy is already in place to protect on-site habitat, with a number of parks and conversation areas,” he said.

Originally published as Lennox Head's Pacific Pines estate up for sale