Award-winning property group, the McCloy Group have today announced the expansion of their Goonellabah residential community, Eastwood. The expansion comes with the group acquiring the adjoining property at 226 Invercauld Road, a site spanning 37 hectares predominantly zoned R1 General Residential with the potential for approximately 200 new residential homesites!
McCloy Group first commenced the development of Eastwood 18 months ago, in mid 2019 seeking to create a new lifestyle offering in the Goonellabah and Lismore areas.
Sam Rowe McCloy Group Project Director said that “Goonellabah was identified as a key growth area of the Northern Rivers with its proximity to Lismore CBD and coastal beaches of Ballina presenting major appeal for buyers.”
The convenient city fringe location was immediately sought after from a range of buyers including first home buyers, upsizing families and those who are looking for somewhere pleasant to downsize. The market certainly thought so too, with the first 4 stages (out of 6 currently approved) all but selling out within merely days of release!
Good news for those still in the market, the expansion will see the project more than double in size, with the new land complementing the existing 21 hectares which currently homes Eastwood.
Future residents can expect to see the theming of the community continue, with substantial landscaping and open space embellishments inclusive of public art donations and natural site features such as site rock for aesthetic benching of homesites all planned to be brought into the expansion.
Mr Rowe said, “the new site has been under discussion for the past 2 years” and that “the demand experienced in the last 6 months for land at Eastwood highlighted the ongoing need for affordable housing in the area, we’re really looking forward to delivering this opportunity for the community.”
The new growing Eastwood will be quite the landmark location with the property offering many desirable benefits including being 70% flat land, a long creek frontage with a stunning waterfall and swimming hole across the Eastern boundary and a sought after clear rural outlook.
“These unique site attributes present great opportunity for community facilities” Mr Rowe continued, also announcing that “early 2021 would see the official opening of the new state-of-the-art park and playground facilities to the public,” a welcomed addition for local families.
To date Eastwood has a high proportion of purchasers being owner occupiers and young families, creating a great sense of community about the new neighbourhood.
“McCloy Communities, like Eastwood are proudly predominantly owner occupied. We’ve seen local buyers express confidence in our project at Eastwood and the capital growth it can promise” added Mr Rowe.
McCloy Communities often see people buy their family home in their communities and stay within the community when it’s time to upsize, so much so they offer a Repeat Buyer incentive. The product speaks for itself with Eastwood currently holding the record sale price for a general residential homesite within the Lismore Region.
In terms of timelines, the Development Application preparations have commenced and are anticipated to be lodged early 2021, this includes the McCloy Group’s commitment to vegetation management and improvements to the open space along Gundurimba Creek.
If you have your eye on Eastwood, it is certainly worth making an appointment with Clint McCarthy at LJ Hooker Lismore to walk the site.
Watch this space with new land expected to hit the market later this month.
Find out more visit eastwoodliving.com.au