Controversial development site now for sale

AFTER 10 years working to gain development approval, an out-of-town owner has put this Northern Rivers commercial property on the market.

HIPPY HIPPY SHAKE: Nimbin is set for a shake-up with the sale of a dual property at 80-82 Cullen St, which has DA approval for a approval to build a boutique hotel with 24 totally modern accommodation units. Picture: Supplied

AFTER it took a decade to obtain development approval, a site in the centre of a popular Northern Rivers town is now on the market.

On Wednesday, Ray White real estate agent Jared Hodge, said a dual property at 80 and 82 Cullen St, Nimbin, was being marketed via an "offers to purchase” campaign closing October 19, 2018.

He said Sydney-based John Seymour was selling the site with a DA approval to build a boutique hotel with 24 accommodation units composed of shipping containers repurposed as one bedroom, air conditioned units designed for short stays in the town.

It is understood medical issues have forced Mr Seymour to sell the properties with the DA in place.

HIPPY HIPPY SHAKE: Nimbin is set for a shake-up with the sale of a dual property at 80-82 Cullen St, which has DA approval for a approval to build a boutique hotel with 24 totally modern accommodation units. Picture: Supplied

Described as "a once-in-a-lifetime opportunity to buy a prime development site in the heart of Nimbin's main street and build the village's first and only unique tourist accommodation”, Mr Hodge said he expected a lot of interest.

"We are marketing the sales nationally and expect to have strong local interest,” he said.

"We feel a future investor looking to operate a short-term accommodation property will be the eventual buyer.”

Mr Hodge declined to discuss a sale price.

"This property is hard to price so we are putting it out there to get feedback,” he said.

"The vendor has done all the work to get the DA approved... all you have to do is build The Cubes to realise the project's potential.”

The current gross holding income for the dual properties which comprises 12 tenancies including residential and commercial is $128,277 per annum.

Nimbin Chamber of Commerce and Industry president, Teresa Biscoe, said members had concerns over the development.

"One of these was council giving into parking concessions which set a dangerous precedent,” she said.

"Also that council seemed unwilling to challenge the developer for fear of ending up in the Land and Environment Court, losing and having to pay costs.”

Nimbin Community Centre president Scott Sledge said he hoped the purchaser realised the town's general feeing that this development opportunity represented "over development'.

"We hope whomever takes on this development site will have another look and do something more in the spirit with the keeping of Nimbin,” he said.

"If they bought this with a good understanding of the Nimbin community and be prepared to scale it down, then we would welcome them with open arms.”

But Mr Seymour was adamant the development had a rosy future in its current form.

"The future of 80 and 82 Cullen Street with The Cubes developed, makes this investment a real gold mine,” he said.