Rare oceanview Tweed estate goes to auction
The last remaining lots of a family estate established in Tweed Heads in the late 1800s is set to go under the hammer.
The 6,964 sq m parcel at 1 and 11 Lalina Ave, Tweed Heads West, was once part of sweeping pastoral land owned by one of the earliest settlers in the NSW border district.
Its fourth-generation owners are expected to capitalise on soaring house prices in the Tweed-Richmond market, which recorded the nation’s strongest regional growth over the year to April 2021.
The rare, elevated land holding across two titles is jointly marketed by Rob Lamb, of Kollosche, and Tony Grbcic, of Kollosche Commercial, and will go under the hammer on July 4.
Mr Grbcic said the property straddled the residential and commercial markets, with “steady” inquiry from interested parties representing a mix of developers and end-use buyers.
The sale listing states the land is zoned for low density residential development with a minimum lot size of 450sq m and may be subdivided subject to relevant approvals.
“It’s such a unique parcel of land that it is very difficult to put a price on it…and the views are quite incredible,” Mr Grbcic said.
Mr Lamb said the three modest homes on the property had been variously tenanted over the years, with the main brick residence built in the late 1990s and maintained in excellent condition since.
The main house on 11 Lalina Avenue has three bedrooms, two bathrooms, a large main living area with polished timber flooring, double garage, double carport, two sheds and vast lawns.
“There really isn’t that sort of size of land parcel available anywhere else in the area, and none as under-developed as this one,” Mr Lamb said.
“This is a rare gem with 360 degree views from the coastline to the ranges, and although there are three standalone properties there at the moment, the real value lies in developing the land.”
“This would be a key holding for someone that has the capacity to build and develop those houses, particularly in a market where there is a housing shortage,” he said.