A billionaire family has put its exclusive Byron Bay estate with private access to one of Australia’s most famous beaches up for sale for around $180 million.
The 100-acre site has already attracted the interest of several high net worth individuals after it was put up for sale by Rich Lister Brian Flannery and his wife Peggy.
It has 1.1 km of beach and is next to Flannery’s Elements of Byron Resort, on the outskirts of Byron Bay.
The exclusive New South Wales town that became famous as a hippie village in the 1970s is now the most expensive place in the country to buy real estate and has been nicknamed ‘Aussiewood’ thanks to its stunning beaches, thriving party and its host with A-list celebrities.
It’s home to the likes of Chris Hemsworth, Elsa Pataky and Elle MacPherson, and local sources believe the Flannery mining clan’s estate could fetch between $160 million and $180 million, with the potential to transform the land into an exclusive community of nine properties.
A billionaire family has put up for sale their exclusive Byron Bay estate (pictured) with private access to one of Australia’s most famous beaches for around $180 million.
Chris Hemsworth and Elsa Pataky sunbathe in Byron Bay. They are two of the stars who have moved to the municipality
The exclusive New South Wales town that became famous as a hippie village in the 1970s is now the most expensive place in the country to buy real estate.
Prospective buyers with deep enough pockets will have until September 28 to express interest in the land that previously held a nine-hole golf course.
The family’s KTQ group has appointed Christian Sergiacomi of Pacifico Property and Wayne Bunz of CBRE Hotels to market the North Beach Byron site.
“The North Beach Byron campaign provides an opportunity to purchase an exclusive, secure and private upscale property on the stunning shoreline of Byron Bay,” said Mr. Bunz.
“It is surrounded by nature with no neighbors and it is only a three kilometer walk along the beach to the center of the city of Byron Bay.”
Sergiacomi said the buyer would have several options after purchasing the land.
They could keep it for themselves or subdivide the land into four to nine freehold beachfront parcels.
This would allow them to create an exclusive community that could accommodate multiple private family residences, subject to council approvals.
“After the rezoning, we were approached by various interested parties to purchase all or part of the site, which led to us formally bringing it to market,” KTQ group development director Jeremy Holmes said in a statement yesterday.
The 100-acre site has already attracted the interest of several high net worth individuals after it was put up for sale by Rich Lister Brian Flannery and his wife Peggy.
Byron Bay has seen an increase in property values since the start of the pandemic and is a popular destination for sun seekers.
The North Belongil Beach site is part of the 90 hectares of land in Byron Bay that the Flannerys first purchased 12 years ago for $18.5 million.
They later developed the Elements of Byron luxury resort through their KTQ Group at a cost of $120 million.
Byron Bay has seen an increase in property values since the start of the pandemic.
Rich Listers as Merivale boss Justin Hemmes and the Laundy family have taken over pubs and hotels in the area.
However, its affordability crisis is now so bad that the popular city is planning to build public housing so middle-class professionals with degrees can live there.
Byron Bay has been nicknamed ‘Aussiewood’ thanks to its stunning beaches, thriving party scene and popularity with A-list celebrities.
Younger Gen Xers and Millennials are increasingly moving to regional areas such as the Gold Coast and Newcastle, with house prices in Sydney and Melbourne now out of reach for average earners buying on their own.
But in Byron Bay, Kiama and Victoria’s Surf Coast, the opposite is happening with the number of new residents moving out of a capital city falling during the year.
Renting a house in Byron Bay typically costs $1,230 a week, making it even more expensive than beachside suburbs like Sydney’s Coogee, data from SQM Research shows.
Byron Mayor Michael Lyon said high property prices and rents also meant the popular town would be understaffed this summer in restaurants and cafes.
“It is a very important issue for much of our community because housing both to buy and to rent is increasingly out of reach for a large proportion of people,” he recently told the Daily Mail Australia.
“This affects businesses and their ability to recruit staff, and at the moment there is no business in Byron Shire that is not struggling to find staff.
‘We are going to be in serious trouble if we have a peak tourist season.’
Leave a Reply