Increased demand for commercial land in Ballina Shire
COMMERCIAL land values across the Ballina local government area experienced a moderate increase of 6.72 per cent due to increased demand for more affordable properties as compared with adjoining areas.
Ballina Shire has 430 properties zoned for commercial use, located in the main centres of Ballina, Lennox Head and Alstonville with other commercial properties scattered throughout the shire villages.
There were less than 10 commercially zoned market sales, indicating a moderate movement and continued strengthening for this market.
The only significant sale was for two adjoining properties near the southern strip of the Lennox Head commercial precinct, which sold for $3.5 million.
Typical commercial land values
- Main St, Alstonville (607 sqm): $260,000, up 10.2 per cent
- Boeing Ave, Ballina (3.674 ha): $$5 million, up 8.2 per cent
- River St, Ballina (518.5 sqm): $390,000, up 10.5 per cent
- River St, Ballina (537.5 sqm): $500,000, up 8.7 per cent
- River St, Ballina (4313 sqm): $2 million, no change
- Tamar St, Ballina (519.8 sqm): $450,000, up 9.8 per cent
- Range St, East Ballina (1209 sqm): $452,000, no change
- Ballina St, Lennox Head (981.4 sqm): $1.4 million, up 11.1 per cent
- Kalinga St, West Ballina (1410.08 sqm): $530,000, up 8.2 per cent.