PLAN SALE: A Byron Bay unit has sold for $5 million.
PLAN SALE: A Byron Bay unit has sold for $5 million. Contributed

Byron Bay apartment sells for record $5 million

FEDERAL Budget cuts and local job losses have made no dent in the aspirations of the elite Byron Bay seachange set.

The Bay's high-end property market could be headed back into the stratosphere with a record $5 million for an off-the-plan apartment.

The sale price smashed the previous record of $2.7 million, set before the dreaded Global Financial Crisis.

But this isn't just any old apartment.

Fortyfive Lawson is the first luxury development in 30 years fronting Main Beach, just a short walk across the lawn.

The owners of its nine apartments will enjoy a host of perks, including private pools, stone fireplaces, under-floor heating, and European appliances - and when they're not around, $20,000 a week rent in peak season.

A Brisbane family bought the creme de la creme - a four-bedroom, 405sq m penthouse with wraparound balcony and plunge pool - to live in permanently.

Byron Bay Property Sales agent Graham Dunn said the buyer knew Byron well and "appreciated the old adage: position, position, position".

Developer Jim Goldburg, who co-founded Flight Centre, said the five apartments sold to date had netted $19 million, with most buyers from Sydney and Brisbane.

"There continues to be strong interest in the remaining four apartments including the last available penthouse, which is listed for $4.5 million," Mr Goldburg said.

On the wider market, Mr Dunn said every area except for Wategos was back to pre-GFC levels and above.



Ice Strike Force arrests sixth person

Ice Strike Force arrests sixth person

Police have targeted the supply of ice in Lismore

Kesha cancels Bluesfest performance

Kesha cancels Bluesfest performance

Kesha will no longer be headlining Bluesfest 2018

Meet the young leaders of tomorrow

Meet the young leaders of tomorrow

Let us introduce you to our school captains

Local Partners