A Byron Bay holiday home on offer is ‘the best in Wategos’
One of Byron Bay’s most prestigious beachfront mansions fronting the world famous Wategos Beach is about to hit the market.
One of Byron Bay’s most prestigious beachfront mansions fronting the world famous Wategos Beach is about to hit the market, just as interest in the northern NSW township reaches fever pitch.
Long-time Byron Bay holiday maker Geoff Morgan, co-founder of recruitment firm Morgan & Banks, and wife Ros have decided to sell their 35 Marine Parade, Wategos Beach holiday home after purchasing the site more than a quarter of a century ago.
More than $20m is expected for the four-bedroom and four-bathroom home that is set back from Marine Parade, allowing privacy from the hordes of holiday-makers, celebrities and locals who descend on the sublime Wategos Beach come summer.
The Morgans bought the 664sq m site in 1994, paying $1.24m, public records reveal, and have since developed an architecturally designed house.
Selling agent Michael Coombs, founding agent of LJ Hooker Avnu, says the private, multi-level family sanctuary makes the most of its position.
“With direct beach access and stunning ocean views, it’s a piece of paradise with unsurpassed attention to detail,” Coombs says.
Features include breathtaking views, direct beach access and a heated, wet-edge pool along with resort-style entertaining spaces, fireplaces, a dressing room and media room.
Coombs says the manicured lawns and hedges ensure lush leafy outlooks and privacy, adding that there is a secluded entry via a back lane with double lock-up garage. The property also sports a self-contained lower-level unit.
The Morgans are selling Wategos because it is a holiday house and they are not using it as much as they once did.
“They do believe it is an irreplaceable house, they love it up there,” says the Sydney-based Coombs, who has agents on the ground across the eastern seaboard.
Coombs says the Morgans were always going to sell Wategos but were looking to do it next year. “But I approached them with keen buyers, (and given) the strong interest from my clients, they were happy to do something sooner rather than later,” he said.
“I have been approached by a number of purchasers looking for property up there. Byron is quite a strong market at the moment. We decided to put it on the market this spring and not wait.
“Byron is a property destination that is one of the most sought-after locations outside of key cities. It’s an easy flight to Ballina, and an easy commute to Brisbane.”
Many of Coombs’s Sydney clients are looking for properties of this calibre outside of Sydney: “People are happy to be spending more time out of their areas and, given COVID-19, many buyers are attracted to Byron because it has a country and beach feel, plus great restaurants and cafes.”
He says the expat market for buying luxury real estate is three times stronger than it once was, particularly those looking in the $10m-$30m bracket.
“A lot of expats are looking to buy sight unseen and looking to relocate within the next six to 12 months. They are predominantly out of Singapore, Hong Kong and London,’’ Coombs says.
Coombs reckons 35 Marine Parade is the best property in Wategos because it is set back from the road, at the end of the street, screened from the public and with 180-degree views.
Nearby, the six-bedroom and four-bathroom 11 Marine Parade sold for $18.85m in March last year.
First National Byron Bay agent Helene Adams says there is a lot more interest in Byron from Sydney and Melbourne residents due to COVID-19.
“There’s a lot of them moving up here,” Adams says, adding that the average sale price in Byron is $1.575m, which will buy a three to four-bedder house on about 600sq m in the suburbs.
Of course those wanting to live at Wategos, on Lighthouse Road, Belongil or on the so-called Golden Grid that includes the old part of town with historic Queenslanders on large blocks will have to pay much more.
Knight Frank agent Adam Ross says a lot of his clients are intent on buying a secondary home in the country. In his case, they are interested in the NSW Southern Highlands.
Knight Frank Prestige Residential Partner Deb Cullen says there is not a lot of stock available up north and, because of this, vendors have been getting amazing prices.
She says Byron and Noosa are the two places where people are looking for either retreat homes or seeking to relocate permanently.
“But they are so tightly held buyers are having to fight for the stock that is there,” Cullen says.
She says Byron particularly appeals because of the celebrity quotient of people relocating there.
And because of COVID-19, people are not selling their holiday properties because they want to use them more.
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