Terry Agnew on the download near Byron Bay
Around $18m is expected for a prized 22 acre cliff top site near Byron Bay, around 500 metres from the beach.
Around $18m is expected for a prized 22 acre cliff top site near Byron Bay, around 500 metres from the beach. Sporting sweeping views over the coastal township of Lennox Head, the site fronting 8 Byron Bay Road, is billed as a premium land opportunity for the construction of a luxury residence in northern NSW.
Sydney developer Terry Agnew, the owner of Queensland’s Great Keppel Island, has listed the residential site in Lennox Head for sale amid record prices for major northern NSW sites.
Mr Agnew purchased the site for $14m in late 2021. Since then median values have jumped 46.7 per cent over five years, but slipped 22 per cent over the past year according to Core Logic.
Elders Bangalow agent Nick Bordin and McGrath Byron Bay agent Will Phillips are marketing the site which has changed hands once in nearly six decades when Mr Agnew’s Tower Holdings purchased it.
The property is surplus to Mr Agnew’s needs.
The marketing agents reckon the property could set another new record following a flurry of record-breaking property transactions in the Byron region over the past year.
“This is the most stunning premium home site and land on offer anywhere in Ballina Shire,” Mr Bordin claimed.
The property falls within the boundaries of the broader Urban Growth Area for Lennox Head and has potential for future residential development. It is bordered by residential zoned land to the north, east and west.
The majority of the site is currently zoned 1D Rural (Urban Investigation) allowing for a range of uses including private houses, secondary dwellings and seniors housing,
subject to council approval. Around 6,250 sq m of the site is zoned R2 Low
Density Residential allowing for a residential subdivision with a minimum lot size of
600 sq m, subject to council approval.
“This is a blank canvas opportunity in the heart of Lennox Heads that provides a buyer the chance to be the owner of the most prestigious home site in the area,” said Mr Bordin.
“Purchasers could explore subdivision or dual occupancy.”
The property is located just 550 metres from the beach and presently sports a two-storey five-bedroom residence perched on top of the ridge, with uninterrupted views from the coast to the hinterland.
“It’s an excellent opportunity to design, refurbish, build and occupy a custom residence,” said Mr Bordin.
Recent sales in the area include $26m for a private estate on 40 acres in Suffolk Park; $22.5m for a home in Marine Parade at Wategos Beach; $22m for a 5.6ha private estate at Coopers Shoot; and the $17m-plus sale to hotelier Justin Hemmes of a beachfront shack at Belongil Beach in Byron Bay.
The agents are offering the Lennox Head property for sale by expressions of interest closing May 18.
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