Second stage released at Eastwood community in Lismore region

A new land release at a Northern Rivers community is giving plenty of reasons for buyers to go ahead and make their day.

The new residential development in the Lismore suburb of Goonellabah – in regional NSW – takes its name from the old timber mills in the area and the site’s eastern aspect. But much like its Hollywood namesake, Eastwood has put action ahead of words.

The developer, Hunter-based McCloy Group, took the uncommon step of building stage one upfront without pre-sales.

Now, following the successful sale of most stage one blocks in just over six months, the second stage is bringing another 21 homesites to buyers.

If you build it, they will come

McCloy Group project director Sam Rowe says that after previous planned projects on the site by different developers stalled, the group wanted to show buyers it was committed to delivering. It invested heavily upfront in building the site’s infrastructure and presenting each block of land, without first selling any sites unseen.

“Not many developers release a whole stage to market as a finished product,” Rowe says. “People could show up, walk over the lots and see the potential.”

Stage one infrastructure included an entry road; public art sculptures; the use of locally sourced natural stone for levelling out blocks and entry walls; black street lamps; mature trees; a local vegetation strategy; and a cycling path. Each block has essential services, including NBN connectivity.

Stage two will feature more landscaping, parks and a state-of-the-art children’s playground. Rowe says it is designed to foster a strong sense of community and make Eastwood an attractive place for families to live as owner-occupiers.

“People these days want quality,” Rowe says. “We focus on being here for the long haul, as well as providing a quality product that both the McCloy Group and the new owners can be proud of.”

Lismore region on the move

Cameron Kusher, executive manager – economic research at REA Group, says the lifestyle available in the Lismore region has been attracting young families, upsizers and dream home builders to communities like Eastwood.

“Around Lismore, you get the chance to build the property that you want at a more affordable price than other parts of NSW,” he says.

The area’s lifestyle, location and amenities are also a draw factors, he says. This section of the Northern Rivers is resplendent with rainforest and the nearby coast is dotted with picturesque beach towns.

Lismore has a busy retail precinct and is well serviced with schools, a Southern Cross University campus, hospitals, aged care and transport. Ballina Byron Gateway Airport is approximately 37km away and offers direct flights to Sydney and Newcastle.

“Plus, it’s still be an easy drive away from the attractions of Byron Bay, Ballina, Tweed Heads and the Gold Coast,” says Kusher.

According to data, the median house and land price in Lismore is $431,000. Kusher says the increasing appeal of the region is evident in a 4% year-on-year growth in the area’s median house price, while units were also up 6%

While the area is more popular with owner-occupiers than renters, Kusher also notes that rental returns are reasonably strong, with a gross yield of 5.4% for houses and 5.8% for units.

Gonna love Goonellabah

The growing suburb of Goonellabah is making a name for itself. Eastwood features children’s playgrounds, cycleways, mature street trees and a strong emphasis on open spaces, as well as public art.

For McCloy Group, the decision to establish a new residential community in Goonellabah was partly due to the benefits of the area, but also the beauty of the site itself.

“The site is east-facing, which is ideal to avoid any harsh afternoon sun,” says Rowe. “It also has natural rises and a creek adjacent to open space that runs along the eastern boundaries.”

The site’s setting was a prime factor in purchasers Lauren and Daniel’s decision to call Eastwood their new home.

“I know that not only my family, but everyone else who are now block owners can’t wait to build and move in,” they say.

“We’ve already started planning the street parties!”

View land for sale at Eastwood here