Project tipped for sale

THE Pacific Pines development at Lennox Head is still progressing, with an application for a construction certificate for Stage 1A with Ballina Shire Council.

It is also understood the 80-ha development - which was sold for $60 million in 2007 - will soon be sold to Lend Lease.

Pacific Pines is a master- planned community which will eventually house more than 1700 people.

But the entire project was put on hold in late 2008 when the landowners, Petrac, went into receivership.

The Royal Bank of Scotland appointed PricewaterhouseCoopers as receivers.

At this stage the sale to Lend Lease cannot be confirmed, but it is understood the development is being progressed with the council and the Department of Planning and Infrastructure because a sale is imminent.

The council's regulatory services group manager, Rod Willis, confirmed an application had been lodged.

"However at this stage there is an application for modifications, and we can't assess the construction certificate until the department makes a determination on the modifications," he said.

Modifications include deleting 18 residential sites, reducing the size of the retirement village site and removing the tavern.



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