24 HOUR SELL OUT AN EPIQ ACHIEVEMENT

The exclusive sales launch of release two of the Epiq Lennox Head community attracted twice as many prospective buyers as there were homesites, leading to a $23.5 million sell out in just one night.

Developer Clarence Property counted 116 registered buyers at the invitation-only launch event, which saw 66 homesites go under contract following a ballot draw to ensure all attendees had a fair chance to secure a lot.

Prospective purchasers’ names were drawn from a barrel, with those selected given the opportunity to choose their preferred homesite, with prices ranging from $245,000 to $355,000.

The ballot was drawn by Elder Real Estate agent Michael King, who is marketing Epiq Lennox Head and says he is not surprised by the level of demand.

He says release one of Epiq Lennox Head was similarly successful, with the immediate sellout of all 51 homesites on offer for a total of $11 million.

“Most of the people who missed out on the ballot draw are on a waiting list and many have pre-registered for release three, which is already in the pipeline as the developer tries to keep pace with demand,” Mr King said.

“There’s a good mix of purchasers buying into the Epiq community, including first time buyers, families, mature couples and retirees. The majority are locals who already live in the Lennox or Ballina region, although there is increasing enquiry from further south and across the Queensland border.”

Mr King says Epiq has hit the mark with locals because it builds on all of the town’s best characteristics.

“Epiq is being built on an elevated site which is surrounded by hectares of protected bushland and nature corridors, so it is a beautifully green and vibrant place just a short drive from the beach – which is a big part of the Lennox Head identity,” he said.

“Epiq is also very community focussed, with new sporting fields already under construction and due for completion later this year, so the development will become a new place for locals to keep active, healthy, and socialise.

“A new shopping precinct planned for the centre of the development will add value to the project because convenience and proximity to amenities always rank highly on purchasers’ wish lists. Epiq is also close to the existing Lennox Head village centre which is home to a range of boutique stores and cafes.”

“Epiq will enhance the relaxed, coastal village lifestyle Lennox Head is renowned for and enrich the area with new facilities for the next generation of locals who want to live, work, and play here.”


LENNOX AN EPIQ PLACE TO LIVE

First home buyers and young families looking for a brand new, affordable beachside home are lining up for the next release of land at Clarence Property’s Epiq Lennox Head, which sold out of its first 51 homesites within just weeks of release last year.

Civil works on the first release of homesites are now almost complete, with settlements scheduled to occur by mid-year, meaning Epiq’s first residents could move into their new homes by Christmas.

Clarence Property General Manager Paul Rippon says release two of Epiq – comprising 80 homesites – will be released in the coming weeks to meet pent-up demand, with dozens of buyers already registering their interest with exclusive marketing agents Elders Lennox Head.

Elders Lennox Head Principal Michael King says interest in Epiq has increased on the back of on-site activity, including the construction of a 4.5 hectare sporting field complex due for completion in February.

The sporting complex will include an AFL ground, rugby/rugby league fields, soccer fields, and two synthetic cricket pitches.

Mr King says construction has also recently commenced on a new road connecting Montwood Drive and Hutley Drive, which will improve local traffic flow.

“The majority of recent purchasers have been local first home buyers and young families who are looking to be part of a highly accessible community – meaning they can cycle down to the beach and recreation facilities within minutes and easily drive to surrounding suburbs,” he said.

“I’m expecting the second release of homesites will sell as quickly as the first, simply because it is becoming increasingly difficult to find affordable beachside land within proximity of the Tweed, Gold Coast, and Brisbane.

“The enquiry we had over the recent Christmas/New Year period is the best we have seen in about eight or nine years which demonstrates that people are recognising there is limited opportunity and are responding with urgency.”

Among the first purchasers to buy in Epiq were Nathan Dee and Prue Warren, who chose Epiq for its location and affordability.

Mr Dee said he often surfed at Lennox Head and loved the idea of living near the beach, but there was limited land available in the right price range until Epiq was launched.

“My partner and I have lived in Ballina and are currently renting in Alstonville, so Lennox Head has always been a favourite spot for us to visit the beach and we were excited when we heard that there was an opportunity to buy land in the area,” he said.

“There’s not much beachside land available on the Tweed or Gold Coast, and what we could find was quite expensive, so when we saw homesites at Epiq just a short distance from the beach starting from the mid $200,000 bracket we jumped on board.”

“It’s a better option than buying an older, established property in the area or moving further inland to get a property comparable to our new four bedroom home for under $500,000.”

“Lennox Head is a small community but the plans for Epiq include sporting fields and a new retail centre which will be convenient, meaning we don’t have to travel to do our shopping. When we do need to go back to Lismore or Ballina for work or to visit friends it will be an easy trip because of upgrades to local road networks and the highway.”

“We can’t wait to move in and be a part of this new community” Mr Dee said.

Ballina-based Clarence Property recently launched its first capital raising in six years for its flagship unlisted Westlawn Property Trust, in a bid to raise up to $40 million to retire debt and fund new acquisitions through the issue of some 51 million units in Westlawn Property Trust at 79 cents per unit. The forecast distribution yield on these units is 8.23 per cent per annum, paid monthly.

For more information, please visit www.epiqlennox.com.au or www.clarenceproperty.com.au


EPIQ EFFORT TO KEEP LENNOX LOOKING GREEN

Nearly 10,000 trees, shrubs and hedges have been planted in the first release of the new Epiq community at Lennox Head, with developer Clarence Property appointing local ecologists GeoLINK to manage conservation and environmental planning.

GeoLINK Senior Ecologist Veronica Silver has been working to conserve threatened plants on the 80-hectare Epiq site, and has activated the re-planting program to ensure the project’s sustainability. Ms Silver said two threatened species within the freshwater wetland – Square-stemmed Spike Rush and Hairy Joint Grass – are already being restored as part of an extensive conservation plan.

“Clarence Property has taken a responsible approach to Epiq by creating a conservation management plan from the outset, which means no development work is done without consultation in regard to environmental impact,” she said.

“A lot has already been achieved, with the planting of 7,000 native trees and 2,600 Square-stemmed Spike Rush, along with Hairy Joint Grass seed being spread over 2-hectare conservation zone.”

Ms Silver said Epiq’s conservation management plan protects freshwater wetland, littoral rainforest and swamp sclerophyll forest which are all endangered ecological communities.

“The plan not only covers conservation and rehabilitation – which includes weeding and pest management – but also the enhancement of endangered vegetation communities, which requires revegetation and ongoing monitoring to ensure these areas thrive” she said.

“In addition to caring for plant life, we look out for local fauna. GeoLINK staff complete surveys prior to any vegetation being removed from the site to ensure that no fauna habitat features are present. The substantial restoration work being completed at the site will increase habitat for a range of local fauna species.

“The trees that have been planted will increase the area of rainforest present which will provide habitat for fauna that prefer this type of vegetation. Several large figs and tuckeroos are also being kept within the site which will provide stepping stones for mobile fauna and provide beautiful natural landmarks for residents to visit.”


YOUNG BUYERS STAYING IN LENNOX-BALLINA REGION

Increased development activity, upgraded infrastructure and employment opportunities are encouraging young residents in the Lennox- Ballina area to look closer to home when buying a new property.

Elders Lennox Head principal Michael King said improved lifestyle and economic conditions meant a growing number of local young couples and families were choosing to invest in the region instead of searching for a new home further afield.

Mr King said the Lennox-Ballina region currently had numerous active residential developments selling land off-the-plan, giving residents more choice than in previous years, while major road upgrades had made the area even more connected and accessible.

“What we’re seeing is more young people choosing to stay in the area they grew up in instead of moving to be closer to work or education, and I think that is a function of the fact that there’s more opportunity here now,” he said.

“The Lennox-Ballina region has always had a price point advantage over neighbouring Byron Bay and the Tweed and Gold Coasts, and young people are recognising that it makes sense to stay and take advantage of the growth the region is experiencing.

“While the area is growing and changing, it still has a relaxed, village vibe that other coastal areas no longer have, and that is another significant reason why young people are keen to stay and raise their families here.”

Mr King said the demographic of purchasers in the now sold out first release of Clarence Property’s Epiq Lennox Head community was representative of the region’s increasing appeal to the younger generation.

A report shows a third of the first 51 homesites in Epiq were secured by purchasers aged between 20 – 30 years, while 62 percent of all buyers were under 40.

The majority (67 percent) were from the Lennox-Ballina region, and 33 percent were first-time buyers.

“In previous years residential land has been drip-fed to the market and that has meant prices were often out of reach for entry-level purchasers, but now that larger masterplanned communities like Epiq are on the market homesites are more affordable,” Mr King said.

“The other positive trend we are seeing is that young people who already own a home are choosing to reinvest in the area, which means that second and third home buyers have confidence in the market and are likely to stay for the long term.”

Wes Bale is a 27 year old born and bred Lennox Head local who is an example of the demographic shift in the region.

“I grew up in Lennox Head and love the relaxed, beachside lifestyle here,” he said.

“When I decided to buy a property I was initially looking at established houses because there wasn’t much else available in Lennox. When land was released at Epiq I realised it made sense to take advantage of the $15,000 first home buyer grant and build a new home to suit my needs.

“I work locally as an IT consultant so I’m glad I have been able to find an affordable block of land close to the village which means I won’t have to commute and I can remain close to family and friends.”