The new Goonellabah residential community, Eastwood Estate, is again set to expand.

Property developers the McCloy Group have now acquired the adjoining property at 226 Invercauld Road - a site spanning 37 hectares. The site is predominantly zoned R1 General Residential with the potential for approximately 200 new residential homesites.

McCloy Group first commenced the development of Eastwood 18 months ago, in mid 2019 seeking to create a new lifestyle offering in the Goonellabah and Lismore areas.

The initial development has approval for 135 homesites with Stage 1 releasing 23 homesites and recently Stage 2 saw another 21 homesites go on the market.

(The opening of the Eastwood Estate development attracted a large crowd in November, 2019)

McCloy Group Project Director Sam Rowe said Goonellabah was identified as a key growth area of the Northern Rivers, presenting major appeal for buyers.

"The convenient city fringe location was immediately sought after from a range of buyers including first home buyers, upsizing families and those who are looking for somewhere pleasant to downsize," he said.

"The market certainly thought so too, with the first four stages (out of six currently approved) all but selling out within merely days of release."

Mr Rowe said it was good news for those still in the market, as the expansion will see the project more than double in size, with the new land complementing the existing 21 hectares which currently homes Eastwood.

"Future residents can expect to see the theming of the community continue, with substantial landscaping and open space embellishments inclusive of public art donations and natural site features such as site rock for aesthetic benching of homesites all planned to be brought into the expansion," he said.

Mr Rowe said, “the new site has been under discussion for the past 2 years” and that “the demand experienced in the last 6 months for land at Eastwood highlighted the ongoing need for affordable housing in the area, we’re really looking forward to delivering this opportunity for the community.”

"The new growing Eastwood will be quite the landmark location with the property offering many desirable benefits including being 70% flat land, a long creek frontage with a waterfall and swimming hole across the Eastern boundary and a sought after clear rural outlook.

“These unique site attributes present great opportunity for community facilities, and soon we will open of the new state-of-the-art park and playground facilities to the public."

a welcomed addition for local families.

"To date Eastwood has a high proportion of purchasers being owner occupiers and young families, creating a sense of community about the new neighbourhood.

“McCloy communities, like Eastwood are predominantly owner occupied. We’ve seen local buyers express confidence in our project at Eastwood and the capital growth it can promise” added Mr Rowe.

"People buy their family home in their communities and stay within the community when it’s time to upsize, so much so they offer a Repeat Buyer incentive.

The site's Development Application preparations have commenced and are anticipated to be lodged early 2021, including vegetation management and improvements to the open space along Gundurimba Creek.