{"id":105191,"date":"2025-03-01T04:00:00","date_gmt":"2025-02-28T17:00:00","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/tweedcoasttimes\/?p=105191"},"modified":"2025-02-26T19:00:08","modified_gmt":"2025-02-26T08:00:08","slug":"a-new-wave-of-wealth","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/tweedcoasttimes\/news\/a-new-wave-of-wealth\/","title":{"rendered":"A new wave of wealth"},"content":{"rendered":"<p>BYRON Bay&#8217;s high-end property market is booming, with a luxury home on Belongil Beach selling for a record $33.5 million.<\/p>\n<p>The recently completed property, known as Malia, was built by developer Shane Smollen, who is also a McGrath director, and his wife Rebecca.<\/p>\n<p>It is believed to have been bought by Chemist Warehouse director Damien Gance \u2013 the son of the company&#8217;s founder \u2013 and his wife Sasha Robertson.<\/p>\n<figure id=\"attachment_30038\" aria-describedby=\"caption-attachment-30038\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-30038 \" src=\"https:\/\/static.timesnewsgroup.com.au\/prod\/uploads\/sites\/29\/2025\/03\/HerculesEstateatCoop_22472.jpg\" alt=\"\" width=\"600\" height=\"400\" \/><figcaption id=\"caption-attachment-30038\" class=\"wp-caption-text\">Hercules Estate at Coopers Shoot. Photo: McGRATH<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p>The architecturally-designed beachfront house has five bedrooms, including guest and nanny quarters, a magnesium pool, a gym and a media room.<\/p>\n<p>McGrath Byron Bay principal Nick Dunn said the high-end market was buoyant, largely because there was a limited number of luxury homes in exclusive enclaves like Belongil Beach, Wategos and Coopers Shoot.<\/p>\n<figure id=\"attachment_30038\" aria-describedby=\"caption-attachment-30038\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-30038 \" src=\"https:\/\/static.timesnewsgroup.com.au\/prod\/uploads\/sites\/29\/2025\/03\/ThepoolareaofMaliaat_30588.jpg\" alt=\"\" width=\"600\" height=\"400\" \/><figcaption id=\"caption-attachment-30038\" class=\"wp-caption-text\">The pool area of Malia at Belongil Beach in Byron Bay. Photo: McGRATH<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p>He is currently marketing another property known Hercules Estate at Coopers Shoot with price expectations in the $27.5 to $30 million range.<\/p>\n<p>With magnificent hinterland and ocean views, it has a horizon pool, a gym, a recording studio, tennis court, wine cellar, separate cottage and six-car garage.<\/p>\n<p>&#8220;It&#8217;s extraordinary,&#8221; Mr Dunn said. &#8220;You can&#8217;t even imagine the view until you are there. When it sells it&#8217;s not like I can say the neighbour is also selling, because none of them are. I think that&#8217;s what drives the high-end market.<\/p>\n<figure id=\"attachment_30038\" aria-describedby=\"caption-attachment-30038\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-30038 \" src=\"https:\/\/static.timesnewsgroup.com.au\/prod\/uploads\/sites\/29\/2025\/03\/ThepoolatMaliaatBelo_32210.jpg\" alt=\"\" width=\"600\" height=\"337\" \/><figcaption id=\"caption-attachment-30038\" class=\"wp-caption-text\">The pool at Malia at Belongil Beach in Byron Bay. Photo: McGRATH<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p>&#8220;Prices are only going to keep going up because of low supply and high demand from people wanting to come into the area.&#8221;<\/p>\n<p>Oroton heir Tom Lane and his wife Emma, who co-founded The Farm in Byron Bay, sold their 48-hectare estate The Range at Coopers Shoot for $37 million in 2023.<\/p>\n<p>Wategos property Watermark, located on Marine Parade, sold for $30 million the same year.<\/p>\n<figure id=\"attachment_30038\" aria-describedby=\"caption-attachment-30038\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-30038 \" src=\"https:\/\/static.timesnewsgroup.com.au\/prod\/uploads\/sites\/29\/2025\/03\/TheviewfromHerculesE_33609.jpg\" alt=\"\" width=\"600\" height=\"400\" \/><figcaption id=\"caption-attachment-30038\" class=\"wp-caption-text\">The view from Hercules Estate at Coopers Shoot. Photo: McGRATH<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p>CoreLogic research director Tim Lawless said research shows higher value markets tend to be more reactive to an easing in interest rates.<\/p>\n<p>&#8220;If this historical pattern holds true, we could see premium markets across the Richmond-Tweed rise to new record highs or outperform lower priced markets,&#8221; he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BYRON Bay&#8217;s high-end property market is booming, with a luxury home on Belongil Beach selling for a record $33.5 million. The recently completed property, known as Malia, was built by developer Shane Smollen, who is also a McGrath director, and his wife Rebecca. It is believed to have been bought by Chemist Warehouse director Damien [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/timesnewsgroup.com.au\/tweedcoasttimes\/news\/a-new-wave-of-wealth\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":231,"featured_media":105192,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7],"tags":[],"post_folder":[],"class_list":["post-105191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A new wave of wealth - Tweed Coast Times<\/title>\n<meta name=\"description\" content=\"Byron Bay&#039;s high-end property market thrives, with a record $33.5 million sale at Belongil Beach. 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