$4025 sqm for Salt block
A BEACHFRONT homesite in the $1 billion Salt Village has cracked the $4000-per-square-metre price mark.
The sandy plot has sold for a record $4025 a square metre.
The block was purchased for $2.6 million last week by retired Gold Coast developer, chairman of the Tweed Heads-based Australian Walk of Fame and Salt resident Alan Black.
The sale of the 646-sqm block in the Southbeach precinct smashed the previous record of $3866 per square metre, set in April when a 775 sqm site sold for $3 million.
Salt's absolute beachfront blocks were listed at $1200 per square metre when the upmarket subdivision was launched in 2003.
Mr Black and his wife Cheryl, who live in Salt's North Point Avenue, will build their "ultimate" home on the record-breaking block.
"We will start construction as soon as the block settles and have already received several offers to purchase our current home, but will not place it on the market until our new home is reaching completion," Mr Black said yesterday.
"We were among the first beachfront purchasers at Salt, which has proven to be a very strong investment."
Mr Black last month failed to win Tweed Shire administrators' support for a $2 million four-storey unit block he wants to build fronting Marine Parade, Kingscliff. The refusal of the application, in breach of Tweed Shire's current Local Environment Plan three-storey height limit, was to be appealed by Mr Black in the NSW Land and Environment Court.
Ray Group chief executive Tom Ray said several Salt residents had bought more than one homesite, realising there is a finite supply of beachfront land.
"This sale demonstrates the climbing values of beachfront and beachside land," Mr Ray told the Daily News% yesterday.
The skyrocketing prices confirm%recent predictions by property analyst Michael Matusik that already high land prices on the Tweed Coast were likely to soar.
Mr Matusik found the close-to-completion Tugun bypass, Gold Coast Airport expansion and a NSW government Tweed population cap would contribute to the rising property%prices.
Over the past three years, Salt, which has 1.2 kilometres of beachfront, has recorded sales totalling more than $350 million.
Only a few developer-stock prime lots remain unsold.