$60m Pacific Pines project revived

PLANS are back on the table for a $60 million residential and commercial development at Lennox Head which would be home to more than 1700 people.

New start: The 80-hectare Pacific Pines Estate site at Lennox Head, viewed from North Creek Road. Reports have emerged the stalled development may be back in track, with plans to complete the project, which went into receivership in 2008.

PLANS are back on the table for a $60 million residential and commercial development at Lennox Head which would be home to more than 1700 people.

Pacific Pines Estate, off Montwood Drive, is a master planned community that would provide 481 homes, 312 retirement units and medium-density housing.

It also includes a shopping centre with up to 3000sqm of retail shops and 800sqm of commercial space, a tavern and community centre.

Sporting fields are also included in the plan.

However, the entire project was put on hold in late 2008 when the landowners, Petrac, went into receivership.

The Royal Bank of Scotland appointed PricewaterhouseCoopers as receivers and the site was put on the market.

It is understood Delfin Lend Lease is now in negotiations to develop the 80-hectare site, which sold for $60 million three years ago.

Delfin Lend Lease spokesman Guy Gibson yesterday confirmed the company was interested in the stalled project.

“As Australia's leading developer of master planned communities, Delfin Lend Lease is always reviewing opportunities in growth corridors,” he said.

“Northern NSW is an area of interest, but due to commercial reasons Delfin Lend Lease is unable to confirm anything further at this stage.”

It is believed that because Pacific Pines could not be sold, the Royal Bank of Scotland will hold on to the property and have it developed by Delfin.

The Northern Star made repeated attempts to seek comment from the Royal Bank of Scotland and PricewaterhouseCoopers, but their spokespeople could not be contacted.

Ballina Shire Council also said it was unable to comment on the negotiations regarding Pacific Pines.

Approval for stage one of the proposed master plan was given by the Planning Minister in 2008.

Lennox Head Chamber of Commerce president Louise Owen said it would be good news if Pacific Pines was still going ahead, but she said more roads were needed on the western side of North Creek Road.

“At the moment Lennox lacks the infrastructure to support these types of developments,” she said.

“I am not against development, but we've got to have everything in place first.

“From a business perspective, we hope all these new people coming to the area will shop locally.

“Having another shopping centre will enhance the entire business community.”

Fred Goodman, president of the Lennox Head Residents' Association, said Hutley Drive had to be finished if Pacific Pines was to go ahead.

“We have to make sure we don't have any traffic issues,” he said.

“And we must have those playing fields.”

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Originally published as $60m Pacific Pines project revived