A land amalgamation totalling nearly 70 hectares in the sought-after destination of Byron Bay is expected to generate significant interest both locally and internationally as it hits the market.
The properties along Ewingsdale Road and Melaleuca Drive total 68.9 hectares over five lots, and are known as the West Byron Amalgamation.
At that size, the amalgamated holdings are believed to be Byron Bay’s largest urban land release in recent times, and are likely to be one of the last urban releases of its size in the region.
The amalgamated site has approval for a masterplanned community with over 150 large lots, including 124 residential lots, 25 super lots, two large neighbourhood centre lots and multiple light industrial zoned lots.
The land has been through an approval process for over 10 years with the owners receiving development consent early last year.
The properties will be taken to the market individually or in one line via an International Expressions of Interest campaign run by Tim Holtsbaum and Blake Goddard of Knight Frank.
Mr Goddard said the approved masterplan is a true rarity and will provide the incoming purchaser the opportunity to leave a legacy within the region for generations to come.
“With the area in need of more housing availability, it will provide years of much needed supply to Byron Bay,” he said.
“The owners carefully designed and curated the approval to ensure it meets with demand from the local surrounds. This includes 2.5 kilometres of internal designated cycleways and a village centre to service the new community and supported by communal parks and gardens.”
Mr Holtsbaum said the West Byron Amalgamation offered a coveted opportunity to developers, being in a premium location and on a scale unlikely to be seen again the Byron Bay region.
“Byron Bay presents one of the most sought-after investment locations, driven by restricted supply and continued demand,” he said.
“It is expected that the West Byron Amalgamation will be one of the most desirable development offerings to the market not only in northern New South Wales, but Australia wide.
“The town has proven itself as a leading residential and commercial market in Australia, providing any incoming purchaser with comfort in terms of future sales success and demand for all product types on offer.
“We expect to field interest from buyers looking at individual holdings to develop either a residential or commercial project, for example, as well as larger developers looking to create a major masterplanned community.”
Mr Goddard said the land parcels presented an exceptionally rare opportunity of scale in the Byron Bay market to deliver a mixed-use community for developers to deliver upon.
“Its prominent location makes it highly desirable for the broader demographics for the end market, as well as a diversified development outcome incorporating the strong light industrial market within Byron Bay, to mixed-use retail offerings and of course premium residential living.
“The amalgamation benefits from the ability to deliver a blend of residential development zones providing diversity of dwelling stock from low to medium density.
“This means that the incoming developer can monitor incoming supply to the marketplace and adjust revenues accordingly throughout a staged selling process.”
Mr Holtsbaum said prospective purchasers had the opportunity to be a market leader in developing the large amalgamated site.
“As the east coast of Australia continues to demand large parcels of development stock to tackle the housing crisis, but are constrained by stringent councils and planning provisions, the West Byron Amalgamation will provide an immediate relief to the local market,” he said.
“It is projects such as this that are in high demand and limited supply, particularly in the sought-after Byron Bay area.”
Byron Bay was named as one of 12 hotspots around the world – alongside the likes of Knightsbridge in London and the famous Como region in Italy, in Knight Frank’s The Wealth Report 2022, chosen for its Health and Wellbeing elements.
The town has been identified as a neighbourhood with forecast price growth of 30 to 35 per cent over the next five years, which is the strongest predicted growth of the 12 global hotspots.
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