The Argentea site presents a unique Australian development opportunity that has taken nearly 40 years to realise. The site was originally purchased by Daikyo Corporation in the 1980’s proposing to develop a high density integrated resort. However this proposal didn’t proceed and Daikyo subsequently sold two ocean front land parcels on Triton Street, one of which was developed into the Sea Temple Resort, with the balance of the site sold to Thakral Corporation. Thakral proposed for the site to be 50% residential and 50% resorts and retail. They commenced the residential component but discontinued after the Global Financial Crisis. In 2015 the oceanfront half of the site was purchased by current owners, Kerdic.
We believe the site is unique with its natural beauty in a serene, tropical paradise. To ensure that none of the special characteristics were lost, Kerdic obtained planning consent to reduce the previously approved development density by 75%, converting half the site that was approved to be resorts and retail into residential, thus strategically capping the population growth potential of the area and underwriting capital growth prospects.
Kerdic appreciates the site’s natural boundaries of rainforests, covered mountains and ocean; providing attractive boundaries for the developable land. The original size of the land-holding was 60 hectares (150 acres), now established as a special beachside residential community featuring 20 hectares of dedicated bushland and nature reserve including recreational parks, childrens playground area, a dog off leash park and walking trails. Of the 280 generously sized residential allotments, 261 have now been developed. With only stage 5 beachside allotments remaining, expected to be completed in the second half of 2021.
With its tropical, serene setting and proximity to the beachfront Esplanade featuring world class restaurants and resorts, it’s no wonder that Argentea has become one of Australia’s most desirable places to live.