Abstract
[Executive Summary]
This report explores development feasibility for the property at Tanglewood, near Cabarita Beach, on New South Wales, far north coast. This preliminary investigation provides a draft land use development vision to strike a balance between biodiversity conservation values such as koala habitat to coexist with human settlement. The Tanglewood site is of interest due to the need to accommodate a rapidly growing population1 according the North Coast Regional Plan 20362. At the same time there is a deep concern for the future of kola populations in this region, where this site an opportunity to avoid potential extinction of koalas and other native flora and fauna3.
The Tanglewood site has an area of just under 330 hectares with land use zoning that is outdated and reflective of a master plan proposal drafted in 1983. Nearly 40 years on, land use patterns and environmental management objectives are more sophistication, where the impacts of a rapidly changing climate is more apparent. In the following proposals the opportunities and constraints of the site have been deeply considered in order to achieve a more balanced outcome for increased profit and compliance with sustainable development practices.
There are several constraints on this site that impact the financial value of the land as a broadacre housing development. These constraints must be considered as they are seen by traditional development practices as obstacles and thus have held back this development site over the past four decades. The current asking price is over 20 million dollars but after intensive site investigation, the actual land value price point needs to be reconsidered in light of a number of major hurdles such as basic infrastructure provision, noise from the motorway, rezoning of the land, flood hazard amongst others.
A preliminary investigation of the Tweed Shire Council Planning and Flooding map4 shows overlay mapping of extensive flood zones, bush fire risk and protected koala habitat. These and several other constraints have been a challenging component on the urban design of a development in this draft master plan proposal. The property was originally listed at $30 million and recently dropped to $26 million. Following research of comparative properties, it shows the current asking prince is not realistic. Further professional certified evaluations of the site such as valuation and offsetting potential, need to be undertaken with consideration to fully explore the highest and best use of he site.
As this report was written, local property markets have a sound outlook, with strong infrastructure growth, with further interest rate cuts and loosening demand on lending criteria, the sale of residential properties is increasing in value over the long term.
A draft master plan from Bond University has been explored here to show how innovative development opportunities can be realised at Tanglewood, including residential and commercial zones, as well as large areas for native species conservation and lucrative environmental offsetting.
This report explores development feasibility for the property at Tanglewood, near Cabarita Beach, on New South Wales, far north coast. This preliminary investigation provides a draft land use development vision to strike a balance between biodiversity conservation values such as koala habitat to coexist with human settlement. The Tanglewood site is of interest due to the need to accommodate a rapidly growing population1 according the North Coast Regional Plan 20362. At the same time there is a deep concern for the future of kola populations in this region, where this site an opportunity to avoid potential extinction of koalas and other native flora and fauna3.
The Tanglewood site has an area of just under 330 hectares with land use zoning that is outdated and reflective of a master plan proposal drafted in 1983. Nearly 40 years on, land use patterns and environmental management objectives are more sophistication, where the impacts of a rapidly changing climate is more apparent. In the following proposals the opportunities and constraints of the site have been deeply considered in order to achieve a more balanced outcome for increased profit and compliance with sustainable development practices.
There are several constraints on this site that impact the financial value of the land as a broadacre housing development. These constraints must be considered as they are seen by traditional development practices as obstacles and thus have held back this development site over the past four decades. The current asking price is over 20 million dollars but after intensive site investigation, the actual land value price point needs to be reconsidered in light of a number of major hurdles such as basic infrastructure provision, noise from the motorway, rezoning of the land, flood hazard amongst others.
A preliminary investigation of the Tweed Shire Council Planning and Flooding map4 shows overlay mapping of extensive flood zones, bush fire risk and protected koala habitat. These and several other constraints have been a challenging component on the urban design of a development in this draft master plan proposal. The property was originally listed at $30 million and recently dropped to $26 million. Following research of comparative properties, it shows the current asking prince is not realistic. Further professional certified evaluations of the site such as valuation and offsetting potential, need to be undertaken with consideration to fully explore the highest and best use of he site.
As this report was written, local property markets have a sound outlook, with strong infrastructure growth, with further interest rate cuts and loosening demand on lending criteria, the sale of residential properties is increasing in value over the long term.
A draft master plan from Bond University has been explored here to show how innovative development opportunities can be realised at Tanglewood, including residential and commercial zones, as well as large areas for native species conservation and lucrative environmental offsetting.
| Original language | English |
|---|---|
| Number of pages | 54 |
| Publication status | Unpublished - 2020 |
