BRIDGING THE HOUSING GAP: EXCLUSIVE RESIDENTIAL DEVELOPMENT OPPORTUNITY IN BILAMBIL HEIGHTS ADDRESSES LAND SHORTAGE

In Northern Rivers

In a region overwhelmed by a scarcity of available land for development, an exclusive residential opportunity has emerged in Bilambil Heights, Northern New South Wales.

Colliers has announced the listing of 300 McAllisters Road, a 50.18-hectare site that holds the key to addressing the pressing issue of land supply and housing opportunities in the Northern Rivers.

With limited greenfeld stock on the market, this development opportunity comes as a timely solution to the region’s housing shortage.

The property’s substantial size and close proximity to world-famous Kirra and Coolangatta beaches and the Gold Coast airport make it an ideal location for a much-needed

211 lot residential subdivision (STCA). Director in Charge of Colliers Gold Coast, Steven King, says the property predominantly falls under the G1 “General Residential” and R5 “Large lot Residential” zoning, as per the Tweed Local Environmental Plan.

“This zoning allows for various residential possibilities, catering to a diverse range of housing needs,” said Mr King.

“The scarcity of available land for residential development has reached critical levels in the Northern Rivers region.

“As urban areas expand and demand for housing surges, the need for suitable land becomes increasingly vital,” he says.

With an average lot size of 1,572 square meters and a range of lot sizes from 450 square meters to 33,240 square meters, this proposed subdivision (STCA) provides a diverse range of housing options to cater to different needs and preferences.

300 McAllisters Road is also situated within 600 meters of Cobaki Lakes, a proposed $1.25 billion master-planned community comprising 5,500 lots.

“This listing is the closest development opportunity to the proposed masterplanned community at Cobaki Lakes which is the largest available land holding closest to the New South Wales, Queensland border,” said Mr King.

Fast facts:

• Land area:

50.18Ha*

• Prime elevated residential land, with undulating slopes, and views over Cobaki Valley through to the Southern Gold Coast / Pacifc Ocean

• 9km* from

Tweed Heads & Coolangatta, 15 min from Gold Coast Airport and 35 min south of Surfers Paradise*

• Predominately zoned G1 “General Residential” & R5

“Large lot Residential” in accordance with the Tweed Local Environmental Plan

• Proposed plan of subdivision outlining 211 lots (STCA)^

• Average lot size 1,572m²* - ranging from 450m²* to 33,240m²* (STCA)

• Within 600 metres* of Cobaki Lakes, the proposed $1.25 billion 5,500* lot master planned • * Approx, ^ Subject to Council Approval, ~ Outlines indicative only.

For more information, please contact Steven King, Troy Linnane and Brendan Hogan at Colliers.

NSW rental laws will spark bidding wars and push up prices, community sector warns

Nineteen community organisations have come together to warn the NSW Government’s proposed rent bidding legislation will spark legal rental auctions and further push up prices.

In a letter to the Legislative Assembly Select Committee on the Residential Tenancies Amendment (Rental Fairness) Bill 2023 coordinated by Homelessness

NSW and the NSW Tenants’ Union, the organisations including NCOSS, Shelter NSW and Redfern Legal Centre warn the current proposal to ban secret rent bidding will actually make the situation worse by encouraging a transparent, regulated rental auction process.

Across NSW, vacancy rates are at an all-time low, 36 per cent of tenants are in rental stress and renters are continuing to face rising weekly rents – with the latest data showing a 25 per cent increase in median weekly rentals since late 2020.

The situation is particularly acute in Sydney where rents have soared 24.3 per cent in the past 12 months, a higher fgure than the Australian capital city average of 20.6 per cent, according to SQM.

In their letter to committee members scrutinising the bill, the organsiations warn of possible unintended consequences.

“The current draft legislation requires owners and agents to notify applicants of other offers that are higher than the advertised price but does not prevent them from accepting such offers,” the letter reads.

“This means that rent bidding can still occur, and that tenants can still be pressured to pay more than they can afford. We have become aware that the recent media on the practice has also led to increased bids from prospective tenants.”

The organisations are calling for changes to ban rent bidding by preventing agents from accepting a price above the listing price.

Homelessness NSW

CEO Trina Jones - who will give evidence at the NSW Legislative Assembly Committee on the legislation on Fridaysaid rent bidding must be banned.

“Right now people in our state are being forced to live in tents or cars because they cannot afford rising rents.

“While designed to strengthen tenants’ rights, the current draft of the legislation will have unintended consequences of actually normalising rent bidding, increasing stress for renters at a time of crisis across the state.

“Preventing rent bidding altogether is a simpler and more effective solution that would beneft both tenants and landlords by reducing stress and administration.”

Quick Crossword

ACROSS

1 Danish writer, Hans – Andersen (9)

6 Portable music player (4)

10 Yank (3)

11 Right away (11)

12 Graveyard (8)

13 French (6)

14 Umpteen (4)

15 Italian composer (7)

20 Enlarge (7)

21 Church recess (4)

25 Sopori c drug (6)

26 Dictator (8)

28 New birth (11)

29 Speck (3)

30 Bring up (4)

31 Unconvinced (9)

DOWN

1 Subterranean burial chamber (8)

2 Army unit (8)

3 A Japanese religion (6)

4 Be involved (9)

5 Uncovered (4)

7 Spanish rice dish (6)

Sudoku

Using the nine letters in the grid, how many words of four letters or more can you list? The centre letter must be included, and each letter may only be used once. No colloquial or foreign words. No capitalised nouns, apostrophes or plural words ending in “s”.

1 In which US city was Motown Records founded in 1960?

2 Director Duncan Jones is the son of which musician?

3 What sport would you be playing if you used the Duckworth-LewisStern method?

4 On which bay is Cape Town situated?

5 What element has the symbol Au and the atomic number 79?

6 In which lm did George Clooney (pictured) play the character Ulysses Everett McGill?

7 What song contains the line ‘how can you have any pudding if you don’t eat your meat?’?

8 Who wrote the poem Do not go gentle into that good night?

9 Iona is a small island o the western coast of which country?

10 Who played the lead female role opposite Cary Grant in the 1963 lm Charade?

Word

1 Become wide open (4)

5 Desiccated (4)

6 Warble (4)

1 Deep cut (4)

2 Opera song (4)

3 Liquid measure (4)

4 Brink (4)

Secret message: