Clarence Property is continuing its march across northern New South Wales, with the $13.5 million acquisition of a 16 hectare residential development site at Bilambil Heights, with approvals in place for 100 lots and a community park.
The Bilambil project, located at the corner of Stott Street and Walmesly Road, joins Clarence’s growing portfolio of communities, including the $400 million Casuarina Beach on the Tweed Coast, $300 million Epiq at Lennox Head and $100 million Yamba Quays.

The acquisition also comes off the back of a busy 2020, which saw Clarence acquire five new assets in the commercial, logistics and retail sectors for a combined $70 million.

Clarence Property managing director Peter Fahey says marketing and early construction activity is expected to commence at the Bilambil Heights site around mid-year, addressing a major gap in the market for larger homesites close to the coast and existing infrastructure.

“The level of demand we are seeing across all of our communities is unprecedented – there’s scarce supply of land and we are receiving multiple offers for lots and achieving record prices as buyers put their best foot forward to avoid missing out,” he said.

“With three communities now in the mature phase of their life cycle, we are ready to enter into the development of a new community to ensure we continue our pipeline of residential land supply in the region.

“We’ve done our research and our Bilambil community will deliver exactly what purchasers have indicated they are looking for, with lots ranging from 542sqm through to just over three hectares, with an average size of about 1,200sqm.

“These large will be in a semi-rural setting, surrounded by bushland with aspects to the coastline, yet still within easy reach of amenities, with Coolangatta beach and associated retail and restaurants just ten minutes away, and three schools within a 20 minute drive.
“Bilambil Heights remains relatively untapped in terms of development potential and straddles the area between the Tweed and Gold Coast with easy access to the motorway, making it the ideal location for those looking for a position central to both regions.”

Clarence Property managing director Peter Fahey says the Bilambil Heights community is expected to attract a mix of purchasers due to the variety of housing on offer.

“The larger lots will appeal to local families looking to upgrade to a new home, as well as buyers from the city and interstate eager for a tree change close to the beach,” he said.

“The site incorporates a mix of flat homesites, gently sloping lots and some contoured lots, paving the way for a mix of traditional and split level homes, which have the potential for spectacular hinterland vistas and scenic ocean views.

“This development will mirror the successful model Clarence has used in other areas, creating boutique communities with ample green space, underpinned by a community park which encourages people to come together.”

Our Managing Director, Peter Fahey, had the pleasure of attending Bond recently to speak to the Indigenous Scholarship Program recipients as one of the University’s Corporate Partners.

To kickstart National Reconciliation Week, Bond University announced that this semester marked the largest cohort of Indigenous students enrolled at the university in 32 years.

Within this cohort, 16 scholarships were awarded across a range of degrees for the Indigenous Scholarship program.

Head to the link below to read more: https://bond.edu.au/news/68005/bond-enrols-record-number-indigenous-students

Another exciting acquisition for Clarence Property…

Situated in the mixed-use fringe CBD suburb of Milton just 2.5km from the Brisbane City Centre, Clarence Property has recently acquired 22 Marie Street, Milton.

The property is currently home to Edge Early Learning Milton, a well-known childcare operator with 19 centres across South-East Queensland.

The custom-designed learning space features 3 levels filled with state-of-the-art resources, including veggie gardens, water-play stations and more!

For more information head to: https://edgeearlylearning.com.au/

TWO popular businesses have confirmed they are staying put at Tamar Village Ballina, which welcomes new tenants after a $2.2 million updrade.

Fund manager Clarence Property, on behalf of Westlawn Property Trust, has completed the refurbishment of their retail and commercial property Tamar Village Ballina.

The project will welcome six new tenants to the property, including Optimum Allied Health, North Coast NSW General Practice, North Coast Community College, Anytime Fitness and Biala Support Services.

Clarence Property is also excited to announce its own office is moving to Tamar Village Ballina this week.

Securing the famous Martin’s Bakery and Tamar Village Pharmacy have been important lease renewals during the upgrade process, continuing to provide customers with convenience and service during the construction period.

The upgrade works incorporate a sophisticated entry statement, providing a modern experience for Ballina businesses.

External upgrade works included a refurbished alfresco area, new bathroom amenities, painting, landscaping, lighting and signage as well as a new facade and pavement stencilling, to create a stylish new look for Tamar Village.

Clarence Property has been committed to supporting the local community, using a number of local contractors for the duration of the development works and providing new employment opportunities for the businesses which have taken up residency in the refurbished Centre.

Clarence Property managing director Peter Fahey was happy with the community’s reaction to the development.

https://www.northernstar.com.au/news/refurbishment-complete-at-commercial-village/3905363/

Clarence Property has made a reputation under promising and over delivering for its investors – many in the Clarence Valley – in its 25-year history.

Its leaders including managing directors Peter Fahey and non-executive chairman Jim Dougherty have notable family connections to the Clarence region.

It’s flagship product, the Westlawn Property Trust, which manages properties from the Clarence Valley to South East Queensland, gives investors an attractive alternative to the share market.

In the past three years returns have reached 22 per cent and average out at 14.5 per cent over three years.

https://www.dailyexaminer.com.au/news/power-30-clarence-valleys-most-influential-people-/3894790/

The mystery surrounding the future of the old Lincraft building in Ballina’s Tamar Village has been solved.

Clarence Property has kicked-off stage one of a $1.5 million project to upgrade the centre, owned by Westlawn Property Trust, and have plans to transform some of the vacant spaces into more ‘corporate feel’ commercial tenancies to accompany the new and existing retail businesses.

The “modernised” refurbishments will include external upgrades to centre’s front, new more accessible toilets, awning lighting to shop fronts, new pavements, signage, painting, landscaping and an undercover outdoor alfresco area.

The renovations have already resulted in increased leasing activity, with a number of existing tenants renewing their leases, terms agreed with another new tenant and Optimum Allied Health signing a long-term lease to relocate to the property.

The regional healthcare provider is expected to open the doors to its new 230sqm tenancy in the coming weeks.

Head of Clarence Property Simon Kennedy said works were on track and were going “better than expected”.

“There was a lot of concern when Lincraft left over what would happen, so this is a great outcome for our tenants and their customers at the centre,” Mr Kennedy said.

“To take something that’s been around for so long and give it a fresh modern look feels great. Martin’s Hot Bread is a success story on it’s own and the chemist is very popular, but the rest of the centre is a bit tired so we’re excited to make it sensational.”

He said, at this stage the old Lincraft building could be turned into smaller tenancies such as a gym or an office, but the number of shops within the building would depend on how many tenants take up that space.

The works are expected to be completed by early to mid-next year.

The upgrades to Tamar Village form part of a larger $5 million program of refurbishment works that Clarence Property is undertaking across a number of properties in the Westlawn Property Trust portfolio, including Zone Underwood, Westlawn Building in Lismore, Tamar Village and Yamba Fair.

Interested tenants contact the property manager emily.rippon@clarenceproperty.com.au

The Board is pleased to announce it has agreed terms for the Trust to acquire the balance of the Yamba Quays residential development site, located at Witonga Drive, Yamba NSW.

The site is DA approved for 136 home sites, and will be acquired and developed in two stages. Stage 1, comprising 42 lots, will settle in early January 2019. The Stage 1 acquisition price, stamp duty and development costs totalling approximately $15 million will be funded from existing cash reserves. The purchase of Stage 2 will settle in approximately 18 months.

This is a strategic acquisition for the Trust, being virtually the last canal development remaining on the NSW coast and is in the growing coastal township of Yamba, located at the mouth of one of Australia’s largest rivers, the Clarence. Importantly, the development will complement the Trust’s “Epiq Lennox” development.

Of the 136 lots in the Yamba Quays development, 107 have water frontage with easy and direct access to the Clarence River and Pacific Ocean.

Marketing of the 42 Stage 1 lots has commenced. If you are interested in receiving information about this exciting land release, including a sales plan, please register your interest at www.yambaquays.com.au.

Former Colliers International Gold Coast boss Darrell Irwin says young people are ‘missing out’ on the opportunity to leverage growth in South East Queensland’s commercial, industrial and retail markets, with unlisted property trusts remaining a relatively untapped asset class.

Mr Irwin, who has recently become a director for property fund manager Clarence Property, says many young professionals have their wealth creation strategies set to ‘default’ investments in property and listed shares, and are bypassing high yielding unlisted property trusts due to a lack of awareness of the opportunities on offer.

Clarence Property is the fund manager for the unlisted Westlawn Property Trust (WPT), which has a $220 million property portfolio spanning from Yamba to the Sunshine Coast, and has delivered an 22% return to investors last year, with an average return of 14.5% per annum over the past three years.

“Unlisted property trusts are not affected by share market volatility and allow individuals to own a stake in a portfolio of high quality commercial, retail and industrial property, which a fund manager handles on behalf of its investors,” Mr Irwin said.

“A lot of young people opt to buy an investment property or shares in a listed company to kick start their portfolio because that is seen as the ‘norm’, but unlisted property trusts often have a relatively low cost of entry – much cheaper than buying a house – and can offer higher yields.

“A recent report from Zenith Investment Partners, MCSI and the Property Funds Association showed that unlisted property funds were one of the best performing assets in Australia in recent years, offering returns that were on average three times higher than Australian Equities.”

Mr Irwin said unlisted property trusts allowed individuals to diversify their portfolio without assuming the risk of holding, managing and leasing a commercial, industrial or retail asset.

“The attraction of unlisted property trusts is the investment in blue chip bricks and mortar – not many individuals can afford or have the expertise to go out and buy a shopping centre or an inner city office building, but they can own a share in one or more through a trust,” he said.

“Even those individuals who do have the potential to acquire a commercial property often turn to unlisted trusts as a ‘set and forget’ alternative – they don’t have to worry about purchasing at the right price, ongoing management and leasing issues, as well as the potential vacancy risks”.

“What we are seeing with WPT – and a number of other unlisted property trusts I am aware of – is that the investor base is quite mature, so it seems that younger people perhaps aren’t as aware of this type of investment”.

“I encourage them to do their homework and compare the returns on investment with different types of assets. For example, a gross return of five or six per cent in the housing market is exceptional and increasingly difficult to achieve, whereas WPT has a forecast 8.8 per cent gross distribution (year ending June 30).

“WPT has never failed to paya monthly distribution to investors in its 24 years, and many of its assets are located in Brisbane, Gold Coast and Northern NSW so locals can feel confident investing in their own neighbourhood.”

WPT will be launching its next investment opportunity to the market soon at a competitive forecast of 8.8 per cent gross distribution (year ending June 30).

The property portfolio currently includes properties from Yamba to Brisbane across retail, industrial, development and commercial sectors.

In another energy efficiency initiative for the $290 million Westlawn Property Trust, Clarence Property will install 100kw solar systems at three of their sites across the portfolio.

The solar solutions are being installed at shopping centres in Yamba and Brisbane and an office building on the Gold Coast, with Clarence Property recognising the benefits for the environment, tenants and the enduring value to the properties.

The decision follows major LED lighting upgrades at five properties in the Westlawn Property Trust over the past twelve months and the install of a 30kw solar system at the recently sold Easy T centre in Robina.

Rising electricity costs and improved technology prompted Clarence Property to investigate alternative sources of energy.

Clarence Property Managing Director, Peter Fahey said “Solar makes sense for environmental and business reasons”.

“Shopping centres often have large roof spaces and high energy needs. The requirements for air-conditioning and lighting generate high energy costs”.

“The power generated from the three solar system installations is equivalent to taking one hundred cars off the road and it will reduce the running costs of each property, benefiting both tenants and investors”. Mr Fahey said.

“Sustainability encompasses all aspects of what we do at Clarence Property, with particular emphasis on people, sustainable capital, environment and the community”.

This is further evidenced by the recent certification of Epiq, Lennox Head residential community as a leading Enviro Development. Epiq, Lennox Head is Westlawn Property Trusts flagship development property.

Property fund manager Clarence Property has closed oversubscribed its latest investment offer in its flagship Westlawn Property Trust (WPT), after receiving over subscriptions of $22 million in new capital from investors in South East QLD (SEQ) and Northern New South Wales (NNSW).

The fund continues to be supported from its historic roots of the Clarence Valley however there has been a distinct level of interest from SEQ investors who associate the core assets in the Westlawn Property Trust with their geographical location.

Over 60 % of the capital raised came from new investors with approximately 55% of those funds from Self-Managed Superannuation Funds (SMSFs).

The new and existing investors appreciate Clarence Properties expertise and strategy of purchasing assets in high growth areas typically Noosa to Yamba where the market mechanics are well understood.

The Trust has more than $290 million in assets from Yamba to the Sunshine Coast, including Northern NSW properties Yamba Fair and Byron Bay Fair and the 480 lot Epiq master planned community at Lennox Head.

The fund provides investors the opportunity to tap into successful developments and assets like Epiq Lennox, which sold out the first three stages, each within a week.

Clarence Property managing director Peter Fahey says WPT continues to have a strong presence in Northern NSW and SEQ.

“The fund has a history of solid performance and has not failed to pay a monthly distribution to investors in its 24 years, so we have a reputation for reliability. A number of our investors have been with us since inception.”

“Many investors opted to re- invest in the latest offering because the Trust has a strong base for growth, with a number of key development projects commencing this year and several new acquisitions of blue chip commercal retail and commercial property recently made in Brisbane.”

These acquisitions come hand in hand with the recent appointment of Gold Coast’s Darrel Irwin as a Director of Clarence Property, who will assist in growing the WPT investor base in the Gold Coast and Brisbane markets.

Mr Irwin was previously Colliers Gold Coast director-in-charge and special projects national director for 13 years.

WPT is expected to launch to the market its next offering for investment later this year.