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.


A profitable partnership

A profitable partnership

East Ballina Lions and Ballina Fair partner to support farmers

Keeping the heart beating

Keeping the heart beating

Bike ride to raise AED awareness

Skatefest going ahead

Skatefest going ahead

Fair Go Skatefest to run again this year

Local Partners