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You could own a Tweed River island for $3 million-plus
By Jo Kennett A TWEED RIVER island has hit the market and the Sydneybased real estate agent is being overrun with enquiries. The 5.67 hectare (14 acre) freehold island, known as ‘Pyjibin’ is located on the Tweed River at Chinderah and has recently hit the market with a $3-million price tag, but that price may be adjusted according to the sales agent who said they hadn’t anticipated the amount of interest. The land is zoned RU2 which allows for “a range of tourist and visitor accommodation-based land uses, including agri-tourism, eco-tourism and any other like tourism that is linked to an environmental, agricultural or
rural industry use of the land,” according to the Tweed Local Environmental Plan 2014, subject Tweed Shire Council approval. The island has a council bridge that was approved in 1987 and that connects with Chinderah Bay Drive, which is in need of repair according to the agent. It is advertised as being “accessible directly by boat or helicopter as well” and is being sold as is, without any dwelling or improvements. The property is being sold by Michael Zhong from Loyal Property in Chatswood, Sydney. “The buyer can build a house or tourist accommodation, if someone wants to do some business or build a house to occupy,” he said, subject to Council approval.
Saturday, August 14
The 14 acre freehold Tweed River Island is on the market for upwards of $3 million and the interest has shocked the selling agent who said his phone has been running hot
“I think they can build quite a big house but that goes on the size of the land. “Council said the owner has to do the maintenance on the bridge and it needs some improvements to be able to drive across. “You can enjoy a peaceful life there and everything is very convenient.” Michael said he had 30 enquiries in the first two days the property went on the market on Saturday, August 7. “I have never sold an island before and I didn’t realise how much interest there would be,” Michael told The Weekly.
“I was thinking it might take six months to sell but after two days we had 30 enquiries and two offers. “All the enquiries were local (from within Australia), most were from NSW and Qld.” Michael said there had also been enquiries from the Tweed Shire. “I think they know about the land and want to make a business there,” he said. “Most of the enquiries were either for people wanting to occupy or build a holiday house and the other half were from people looking for an investment.
“There were two offers from Sydney residents but they have already been rejected because they were too low. “One had to talk to the bank but it looks like the owner is quite firm on the price and he may even want to adjust it upwards.” Michael said the land was owned by a Sydney basedcompany. “He is an Australian citizen and bought the land ten years ago but I think he has changed his plans,” he said. “He had planned to build a house there but he is no longer living in Australia.”
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We are so thrilled and honoured to be nominated in REI NSW Awards for Excellence... Now into its 25th year, the prestigious Real Estate Institute of New South Wales Awards for Excellence are the most respected and highest honour within the real estate profession, acknowledging exceptional performances across the industry. The 2021 finalists have just been announced.
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Among those honoured was our team at Raine & Horne Ocean Shores/Brunswick Heads & Murwillumbah, who have been shortlisted as finalists in the RESIDENTIAL SALES TEAM category. Megan Chynoweth, our Sales team’s Administration Manager, is also a finalist in the OPERATIONAL SUPPORT category.
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We are so thrilled and honoured to