Casino land snapped up
BLOCKS of land sold like hot cakes when the Richmond Valley Council auctioned stage one of its Settlers Estate development.
About 60 punters turned up at the weekend's auction to bid on the 15 blocks up for grabs on the edge of Casino.
Richmond Valley mayor Col Sullivan said he was happy that 10 out of the 15 blocks sold.
“Council will now look at releasing stage two on the success of the weekend,” he said.
Cr Sullivan said the council decided to purchase and develop the land to provide affordable housing in Casino.
“We want to encourage people to move to Casino,” Cr Sullivan said.
The blocks sold for between $100,000 and $122,000, with some blocks reaching above the reserve.
The most popular blocks proved to be those with a north-easterly aspect.
Elders Casino salesman Robert Horder said the blocks sold to an even mix of first home buyers, second home buyers and investors.
First home buyers bought just in time to cash in on the Government's boosted First-Home Buyers Grant.
According to the conditions of sale buyers are required to construct brick and tile homes at the estate.
There are five more stages of the estate to be released with 60 blocks in total.
The stages will be released in line with demand for land in Casino.
The Settlers Estate is located on land next to the Primex site.
The remaining five blocks can now be purchased at a fixed price through Elders Casino.
The mayor said he wanted to welcome the purchasers to Casino.WHAT DO YOU LIKE ABOUT CASINO? Phone 6624 3266 or SMS 0428 264 948