21 November 2005
Citimark Properties has announced the next release at its prestige East on Byron on secluded Belongil Beach.
The two-acre Belongil Beach-frontage site is located about one kilometre north of Byron's café and restaurant precinct at 18 Childe Street
The $35 million project will ultimately comprise 22 two-bedroom beach villas; two three-bedroom beach villas and four double-storey beach houses.
The stunningly appointed residences will unfold around a billabong-style, natural rock-built resort pool, framed by landscaped waterfalls and indigenous plants.
Citimark purchased the site in 2004 from local developer, for $6.6 million. Construction began in January 2005.
Sales and Marketing Manager, Ms Rhianne Chester said that the 18 villas and homes had been sold since marketing commenced in early 2004, with sales totalling $17.2 million. The final 8 apartments were released last week.
"Construction by Glenziel is now nearing completion, with settlements due to commence in February next year.
"This next release of eight residences includes 3 two-level beach house measuring 129m2, including balcony and courtyard priced at $850,000.
"They feature one large bedroom plus study on the first level; an additional dining space on the ground floor; and a living area and terrace with barbeque.
"Also released are a 361m2 beach villa with three bedroom and lap pool priced at $1.55 million and 1712, villa priced at $1.35 million," she said.
Ms Chester said that East on Byron innovative design by well known, award winning architects, Kevin Hayes Architects would exude luxury in the most natural of settings.
"Two acres of landscaped grounds will create a tranquil paradise where plants native to the area - such as rock orchids, melaleucas and banksias - will frame the curving billabong-style pool.
"Our north-facing apartments will provide the best possible ventilation and large private balconies and courtyards will feature stainless steel built-in barbeques and the extravagance of outdoor kitchen facilities.
"Internally, we're ensuring superior finishes with handmade wallpaper, bamboo veneer cabinetry, built-in seating and glass bookshelves.
" Kitchen appointments will include Miele or Smeg appliances.
"We're leaving no stone unturned in creating a place that will showcase Byron's natural ecology and respect its transformation into Australia's most sought-after lifestyle destination," she said.
Initially the site of a whaling station, East on Byron is being constructed on what was eventually turned into a family-friendly holiday park.
Timber and other artefacts from the original whaling station can still be found on the site and will be recycled as features throughout the development.
Ms Chester said that the strong local attitudes, which made Byron Bay one of the most undersupplied housing markets in Australia, also made East on Byron a highly prized investment.
"Byron Bay property is some of the best-performing in the country - displaying an extraordinary capital growth of 17% a year over the last 10 years.
"These days, an average home near the beach at Byron costs about $2 million.
"By contrast, a luxurious beach house or beach villa at East on Byron can be purchased for less than half that.
"With very few other developments likely to be approved in the short to medium term, there is certainly the potential for further strong capital growth in the area, she said.
The company currently has 16 projects under development including the $120 million Brisbane CBD Riverfront residential project — Evolution; a $35 million luxury beachside resort — East on Byron in Byron Bay; and a new $35 million, 25ha industrial and business park on the former Mitsubishi engine plant site in Lonsdale in Adelaide's southern suburbs.
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