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Byron Lures Developers

As the Sydney residential sector continues to stumble, developers are flocking to Byron Bay given its continued strong performance, particularly in high-end sales.

Sydney developer The Cove Group is developing 16 beach houses as part of a residential estate on a 0.8 hectare site at the end of Cavanbah Street which leads into Belongil Beach, Byron Bay.

The two-level dwellings face north over Belongil Beach, and are within six minutes walk of the town centre. Prices start from $1.65 million for the beach houses, which have skillion roofs, two bedrooms, an oversized media room, two bathrooms and two security car spaces.

In response to Byron Shire Council and community concerns, each beach house meets strict architectural and ecological guidelines to ensure visual harmony and environmental sustainability, the developers said in a statement.

Selling agent Chris Hanley of Byron Bay First National Real Estate said: “The local development rules have been changed in recent years and a development like Kiah will probably never be built again.

“The location and the quality of the residence will ensure strong long-term capital growth and high-yield rental income. Nearby a two-bedroom timber house has recently sold for $5.1 million, so the Kiah beach houses offer real value.”

Date Posted: 22/07/2008