canning drive

UPDATE: Tenders for nine blocks in Casino must be in by Oct 25

Susanna Freymark

Nine blocks of land are for sale in Canning Drive in Casino.

In a tight housing market, the council owned 1.74 ha of land on Canning Drive in Casino has been developed into 19 residential lots.

The ten blocks in stage one have sold. The remaining nine blocks in stage two will be handled by local estate agents and sold by tender.

Estate agent Alex Gibbon said it was an uncommon situation.

The council hadn’t put prices on the blocks and anyone could make a bid by October 25.

It was like a silent auction, Mr Gibbon said.

“Whoever offers the highest price on a lot, gets it.”

A developer could buy the lots. They could build duplexes as the blocks are large, he said.

The Canning Grove development is the second residential subdivision initiated by Council after the earlier success of the 70-lot Casino subdivision, Settler’s Estate.

Richmond Valley Council said the the lots will be offered as open listings to Casino real estate agents wishing to participate.
Agents should submit their tenders in the form of a completed sales advice setting out purchasing entity, purchase price offered and terms of purchase, and email them to the council’s  Property and Economic Projects manager Mike Perkins at 
Tenders must be received by 5pm on Monday, October 25.
At this time offers received will be assessed and successful offers notified.
Remaining lots not meeting expected pricing will be reopened for an additional seven days.
This process will continue until all lots are under contract.
Upon notification of an acceptance of offer, purchasers have 21 days to unconditionally exchange or the lot will be offered to underbidder or re-marketed.
The estate can be accessed and inspected.

The tender comes at a time where houses for sale are averaging $368,000 in Casino.

In Kyogle rentals are scarce and the average cost of a house is $360,000.

Call Alex Gibbon on 0429 553 575 about Canning Grove Estate.

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