A billionaire family has put its exclusive Byron Bay property with private access to one of Australia’s most famous beaches on the market for about $180million.
The 40-hectare site has already attracted interest from several high net worth individuals after being listed for sale by Rich Lister Brian Flannery and his wife Peggy.
It has 1.1km of beachfront and is next to the Flannery’s Elements of Byron Resort, just outside Byron Bay.
The exclusive NSW town made famous as a hippie hamlet in the 1970s is now the nation’s most expensive place to buy real estate and has been dubbed ‘Aussiewood’ thanks to its stunning beaches, thriving party scene and host with A-list celebrities.
It is home to the likes of Chris Hemsworth, Elsa Pataky and Elle MacPherson, and local sources believe the Flannery coalmining clan’s property could fetch between $160 and $180 million – with the potential to transform the land into an exclusive nine-property community.
A billionaire family has put its exclusive Byron Bay (pictured) property with private access to one of Australia’s most famous beaches on the market for about $180million
Chris Hemsworth and Elsa Pataky soak up the sun in Byron Bay. They are two of the stars who have moved to the township
The exclusive NSW town made famous as a hippie hamlet in the 1970s is now the nation’s most expensive place to buy real estate
Potential buyers with deep enough pockets will have until September 28 to express interest for the land which previously had a nine-hole golf course.
The family’s KTQ Group has appointed Pacifico Property’s Christian Sergiacomi and CBRE Hotels’ Wayne Bunz to market the North Beach Byron site.
‘The North Beach Byron campaign provides the opportunity to purchase an exclusive, secure and private landholding of scale on the stunning Byron Bay coastline,’ Mr Bunz said.
‘It’s surrounded by nature with no neighbours and is just a three-kilometre walk down the beach to the city centre of Byron Bay.’
Mr Sergiacomi said the purchaser would have several options after buying the land.
They could keep it for themselves or subdivide the land from four into nine freehold beachfront home sites.
This would allow them to create an exclusive community that could accommodate multiple private family residences, subject to council approvals.
‘Following the rezoning we’ve been approached by several interested parties looking to buy all or part of the site, prompting us to formally take it to market,’ said KTQ Group Development Director Jeremy Holmes in a statement yesterday.
The 40-hectare site has already attracted interest from several high net worth individuals after being listed for sale by Rich Lister Brian Flannery and his wife Peggy
Byron Bay has seen a surge in property values since the start of the pandemic and it’s a popular destination for sun-lovers
The North Belongil Beach site forms part of the 90 hectares of land at Byron Bay 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 a surge in property values since the start of the pandemic.
Rich Listers such as Merivale boss Justin Hemmes and the Laundy family have snapped up pubs and hotels in the area.
However, its affordability crisis is now so bad the popular town is planning to build public housing so middle-class professionals with degrees can still afford to live there.
Byron Bay has been dubbed ‘Aussiewood’ thanks to its stunning beaches, thriving party scene and popularity with A-list celebrities
Younger Generation X and Millennials are increasingly moving to regional areas such as the Gold Coast and Newcastle, with Sydney and Melbourne house prices now beyond the reach of average-income 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 from a capital city falling over the year.
A Byron Bay house typically costs $1,230 a week to rent making it even more expensive than beachside suburbs like Coogee in Sydney, SQM Research data showed.
Byron Mayor Michael Lyon said expensive property prices and rents also meant the popular town would not have enough staff this summer at restaurants and cafes.
‘It’s a major, major issue for a lot of our community because housing both to buy and to rent are increasingly out of reach for a large proportion of people,’ he told Daily Mail Australia recently.
‘This impacts on businesses and their ability to hire staff, and there’s not really a business in Byron Shire at the moment that’s not struggling to find staff.
‘We are going to be in real trouble if we have a busy tourist season.’
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