Land release to help ease shortage

RESIDENTIAL land in Casino will soon be up for grabs and, judging by the last land release, it won’t be available for long.

Work on stage two of the Settlers Estate subdivision in Johnson Street is under way while Richmond Valley Council calls for expressions of interest from local real estate agents who would like to manage sales of the soon-to-be finished stage.

There will be 23 residential lots available and it will be the second release of the council-owned development.

Richmond Valley Council director of works Gary Murphy said the subdivision lots released last year went fast.

“There were 15 lots in stage one and 10 sold at the first auction and the rest sold as a result of the auction,” he said. “It is a good subdivision and it is quite popular due to the limited amount of residential land and the availability of land in Casino.”

Last year, a number of local real estate agents were involved in holding the auction for the lots in stage one, and each lot sold for between $100,000 and $122,000.

“We are calling for expressions of interest from Casino real estate agents,” he said. “It’s up to them how they decide to sell those lots and they just indicate how they are going to be involved.”

Stage two of the subdivision and its 23 lots must be sold by the end of the 2010/2011 financial year.

Each lot is between 600 and 700 square metres.

Settlers Estate is located on land next to the Primex site.



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