Casuarina development block hits the real estate market

The current owners say there was demand for this block of land before it was even listed.

A prime block of land metres away from Casuarina Beach is predicted to sell for up to $15 million.

The block at 6 Grand Parade, Casuarina has been listed in an expressions of interest campaign after owners the Clarence Property group received interest from buyers for the land located 200m from the beach.

Executive Director Darrell Irwin said the 7345 sqm block of land with preliminary approval for four storey apartments was in high demand due to a shortage of supply.

He suggested the block could be suitable for retirement due to demand from a growing elderly population in the area.

“I think most locals would like to see more supply of residential products,” Mr Irwin said.

“There’s a limited supply and very strong demands form both locals and people looking to move to the area.”

The block of land is located across from the Casuarina Shopping Village and near the lifestyle precinct The Commons.

He said so far they had received interest from buyers locally, from South East Queensland and from Sydney.

However ultimately they were looking for a buyer who would bring a “high quality” development proposal to the block, he said.

“We completed all of the roadworks and parkland late last year and early this year,” Mr Irwin said.

“It’s just an ongoing process of development and sale of the land we’ve serviced.”

The expressions of interest campaign is open until October 20.