Kingscliff, Northern NSW Beach's

[Novski]

Hi All,

Is there anyone here that can tell me about the beachside town town/suburb of Kingscliff in NSW... I had a quick look on realestate.com.au and the prices seem high, but i get the feeling this is quite a prestigious location.

Can anyone tell me approx prices for 1 and 2 bedroom apartments, rental for such apartments...

Is it an area which is developing?

What about future capital growth.....? What are peoples opinions on this in Kingscliff!!??

Thanks!

Novski

 

[Fester]

Had a look around this area a couple of weeks ago. To me prices seemed ridiculously high. I wouldn't say a real flash area, just another seaside town! But I guess it is near the water and hence the inflated prices!!

 

[BUNDY]

Kingscliffe is a great place - seaside location. Depends if you want to live there or buy an investment. Don't know if the rental demand is too high. Great place to visit for the weekend, but rather quiet. There is a lot of development going on down there at the moment and thus prices have literally doubled in the past 12 months.

New House and land Packages are going from about $450K at a development called Casurina - 5-7km south of Kingscliff. There is another multi-million dollar development earmarked for Kingscliff called SALT. Brian Ray is the developer and I beleive that they intend to also build an outrigger resort there. You can only buy House and land packages int here or units in outrigger. Very expensive. I believe prices also start at around $450K.

A friend of mine has just placed a contract on a property in Sand street for $330K. Old 80's 3 bed brick house, needs some work.

May be worth investigating beachside suburbs of Tweed Heads, Coolangatta, Kirra, tugan and Palm Beach. You can still find beach cottages and older houses for around the $320-$360K. These areas are experiencing good growth with appears to be continuing.

Good luck
BUNDY

 

[Novski]

Thanks Bundy!
I spoke to a recommended residential property consultant(Rowland Hill) yesterday only over the phone and he mentioned Kingscliff. I'm catching up with him in a couple of weeks to talk. I was pleased that he talked positive cashflow in hopefully capital growth areas before i had brought this up myself.

Cheers,

Novski

 

[bigfish]

Novski

I've had a look at Kingscliff myself lately, including the Salt outrigger development.

Prices for anything close to the beach are indeed ridiculous, and any +'ve cashflow opportunities must surely be rare, or set back a few km from the beach. Although the Salt hotel units could come close if the numbers they are projecting come off. At around $85 per night with around 65% occupancy they seem reasonably conservative. But very little left for sale there now.

You might look a little further south to Pottsville. Have a look at beachproperties.com.au as there are one or two townhouse developments within 500m of beach that might come close to being cashflow +'ve if depreciation is taken into account.

Bigfish

 

[XBenX]

Read an article a few weeks ago and even major sydney hotels are running at 80% vacancy (ie 20% occupancy)

Ouch

obviously the war, economic downturn and SARs are having a big effect

 

[Novski]

Bundy or anyone else...

Have you found out anymore about the SALT project. I caught up with the Property Consultant last night....genuine guy but obviously still trying to sell to me.

Price of the holiday apartments start at $197k + $28k Furnished. Outrigger seem large and experienced and claim they can achieve 62% occupancy for the 1st year and are working their sums from this.

The income of the apartments is 'pooled' so that all owners recieve a proportianate of any net return. if i was to go ahead i would look at making it positive cashflow.

Do you think they can be so sure about the figures they are working with. Other Outrigger hotels have the following occupancy rates:
2001 2002

Sun City Surfers P 79% 76%
Cairns 75% 66%
Coolangatta 72% 77%
Mooloolaba 61% 71%

Like i said SALT is working on Getting 62% for the first year, 66% second yr, 70% third yr, 72% forth yr, 74% fifth yr. They my weel do this and probably higher. Is going into such an investment high risk?

If you want further details check www.saltvillage.com.au and tell me what you think. Look forward to some feedback.

Thanks,

Novski

 

[Bazza]

Hi Novski,

I really don't know a lot about 'Salt' and I don't want to put you off but IMHO Kingscliff is in the middle of knowwhere. There are a few resturants in the main street, a Bowls Club and a pub but that's about it. If tourists go there they will be travelling back and forward a long way to the Gold Coast for the theme parks and night life etc.

It was a quite beachside town until the developers built the Casurina Beach estate on top of an old sand mine of some sort. Apparently the sand was radioactive but that went quite all of a sudden and the development went ahead. Prices have shyrocketed and the trendy corrigated iron/cement sheeting beach houses will probably all rust from the salt air within a couple of years.

A great place to go fishing and stay in the carvan park but I would think that Salt will have a hard time getting the numbers.

Cheers,

Bazza

 

[Shelly]

Hi Novski,
I'm not aware of these developements happening in Kingscliff.

I have stayed at Outrigger hotels in Coolongatta and Cairns both
when they were rather new.I found them to be very good value for money,modern and well designed.
How ever I have never thought of Kingscliff as being a tourist hot spot.There really doesn't seem enough there to lure them in,unless you like lawn bowls that is.

As for Kingscliff,really nice little town.It is very popular with
retirees and Victorians on their winter escape north.

Population seems to be a mixed bag with young families,surfies and yes many elderly people.Best bowls club around,right on the beach.
It has it's own high school and a newish tafe college.
No hospital,I guess it's close enough to Tweed.
No industry,and very little employment.I would assume most people travel up the coast to work.
Recent main street revamp and a few street side cafes,popular
restaurants has brought Kingscliff into the new century.

Capital growth has always been very solid in Kingscliff.
From my first notice,about 15yrs ago.
Real estate here has not been known for bargain hunters.
It has always surprised me as to why it holds it's value but it does.
I used to think it was like a slightly bigger version of Lennox Head,a beachside town near Ballina.
This town has also held it's value and seen brilliant growth.

I guess some places have a certain charm.

Not to mention there is now Casurina Beach,taken off with a bullet.Also Cabarita just down the road is booming.
Anything on the beach front or close to seems to be in big demand.Only so much of it as they say.
The new freeway has by passed these towns adding to their appeal.

I would be most surprised if you could find residential postively
geared property in these neck of the woods.

Good luck,
Cheers Shelly

 

[Novski]

Shelley,
The development (SALT) will not IN Kingscliff, but just outside, on the other side of the river/creek from what i can see. It hasn't started yet.

I'd like to thank you all for your feedback. I won't be going ahead with SALT. There is far too much speculation. It could turn out to be great but it could turn out to be a complete flop i think.

Regards,

Novski