Casuarina just keeps on growing

SEVENTY per cent of purchasers at Casuarina Beach are owneroccupiers.

The 205 residential lots in the final two precincts at the $650 million Casuarina subdivision, Caldera and The Sands, have been sold for a total of $45 million.

All developer land stock at Casuarina has now been sold, with total land sales at the Tweed Coast township, north of Cabarita, totalling more than $150 million.

Settlement for the Caldera home sites is due in April and for The Sands sites at the end of this year.

Consolidated Properties director Don O'Rorke said Casuarina so far had 191 completed homes, with 34 under construction and 64 in the approvals process.

"Beachfront land values have more than trebled since release four years ago," Mr O'Rorke said.

On completion, Casuarina will comprise more than 600 homes, 1500 apartments and villas, a town centre with hotels, grocery outlets, specialty shops, cinemas, cafes, restaurants, a health spa and a community centre, Mr O'Rorke said.

A restaurant, general store, recreational centre and conference facilities are already operating.

Casuarina sales manager Tony O'Neill said property re-sales at Casuarina last year amounted to more than $25 million.

"When we first released beachfront land here four years ago, lots sold for $350,000," Mr O'Neill said.

"The same homesites are now selling for more than $750,000," he said.

"Beachside homesites that were originally $130,000 are now more than $400,000 in some cases."

Mr O'Neill said that as well as land owners enjoying a quality investment, many people "just want to be here, to experience the stunning beach environment, the facilities and the sense of community.

"About 70 per cent of purchasers are permanent residents and when the development reaches its full residential potential we expect this figure to rise significantly."

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