DEVELOPER'S DREAM: Craig Parsons stands on the 50-hectare property, which could be turned into a massive residential estate.
DEVELOPER'S DREAM: Craig Parsons stands on the 50-hectare property, which could be turned into a massive residential estate. Scott Powick

Last farm in Bilambil Heights set for development

WHAT is believed to be the last farm in Bilambil Heights could be turned into a massive residential estate of more than 50 homes.

The huge 50 hectares of land at 67 Scenic Drive is up for grabs with three developers currently fighting for the lucrative tender of the land.

The price of the property is expected to exceed more than $5 million with the agent locked in negotiations over the cost of the land.

The sale comes amid strong opposition to the loss of prime farmland at Cudgen, to make way for the new Tweed Valley Hospital.

Professionals Coolangatta Tweed real estate agent Craig Parsons said the Bilambil Heights property was once owned by a local family since the early 1900s where it was used as a banana farm and for other small crops.

The most recent owner bought the land in 2006, however the property has not been farmed for the last 18 months.

Mr Parsons said the property had been proposed as a residential estate of 56 lots and had "all the markings of a boutique rural residential estate". 

"It's probably one of the best potential rural subdivisions that I've seen for a while, given its views of Surfers Paradise and beyond, there's not a lot of that available at all," Mr Parsons said.

"As the Tweed grows, land supply isn't overly available, particularly rural land, so it's great for the community to have that style of development up there on the site.

"The southern Gold Coast is now spilling over into Tweed Shire and it's a telling point that the Tweed is one of the more prominent places to be living."

 

According to the property listing, the former farm is a prime piece of development land which offers a northerly view of Surfers Paradise which sprawls back to Coolangatta and Tweed Heads.

"The property is approximately seven kilometres from the urban centres of southern Gold Coast, airport and the expanding Tweed Heads district," the listing states.

"The local area of Bilambil Heights has always been of keen interest to the real estate market given its commanding elevation overlooking the shire and north through the Gold Coast.

"Recent Rural subdivisions within the area have been overwhelmed with popularity and produced high-end retail pricing from the market arena, given the fact of a short supply available."

Sale tenders for the property closed on August 24.



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