Prominent Sydney CBD property developer Terry Agnew has bought a sizeable portion of the West Byron project, prompting claims by the Byron Residents Group that the ‘locally-owned’ aspect of the development now has little relevance.
Approval for the West Byron project, a 108- hectare housing/commercial estate situated opposite the industrial estate on Ewingsdale Road, is expected shortly from the state government.
Agnew, who heads Tower Holdings with a swag of properties, also owns a Great Keppel Island resort, where a $2.5 billion redevelopment is planned. Tower Holdings bought the resort for $16.5 million in 2008 before shutting it down and unveiling ambitious plans for a luxury resort.
And while his plans were thwarted by environmental concerns such as illegal tree clearing, last year he finally gained approval for a reduced 250-berth marina precinct, 750 resort villas and 300 apartments, a hotel and an 18- hole golf course.
The Echo sought comment from Mr Agnew’s office, but as yet there has been none.
But through communications consultancy company Charliesierra, the West Byron landowners confirmed the purchase with The Echo but played down any negative influence the new co-owner may have. ‘Tower Holdings has joined the landowner group after purchasing Crighton’s holdings earlier this year,’ they said.
‘The entire landowner group, including Tower Holdings, is committed to making West Byron a vibrant community that integrates with the social fabric of the Byron area.’
And while the West Byron group won’t comment on the price paid or the size of land Mr Agnew’s company now owns, title searches by a solicitor on behalf of environmental activist Dailan Pugh put the figure at $7 million and around half the entire property.
Mr Pugh told The Echo that Crighton Properties’ liquidators sold the half-share of West Byron to North Sydney Property Trust (NSPT Pty Ltd) after Crighton went bust in April last year.
He told The Echo that Agnew’s subsidiary NSPT, ‘paid $7,000,000 for the [West Byron] land, as per the land titles office registered transfer. The directors of NSPT are a Terrance John Agnew of Bellevue Hill NSW and Timothy Stringer of Drummoyne NSW.’
Pugh believes that Agnew is now the single biggest owner in the property. Whether that potentially provides a controlling interest in the proposed development is unclear.
Byron Residents Group’s Cate Coorey said, ‘For a long time we have been told that it is local people involved in this development and they have the community’s best interests at heart. Now that a major developer has bought this parcel, it changes the landscape quite a bit.
‘We have always been concerned that the West Byron landowners were simply trying to get the development approved before selling out to a developer who could afford to undertake a project of this size.
‘With Agnew’s purchase of half the site, how long will it be before he expands his holdings?’
Meanwhile, pressure is on NSW planning minister, Pru Goward, and minister for the environment, Rob Stokes, to defer West Byron rezoning after a motion by NSW MLC (upper house) Jan Barham.
Her motion was tabled last week, and says the deferral would, ‘allow for more detailed studies to assess the impact of the development and ensure that the relevant considerations are revealed prior to the rezoning.’
‘[It notes] that the current application does not contain sufficient independent scientific studies and analysis to allow a determination and that the Byron Shire Council is in the process of developing essential strategic studies that consider the future impacts of development on that site.’
The motion asks the House to note that the application for the West Byron Urban Release proposal ‘contains omissions, inaccuracies and inconsistencies.’
But the West Byron developers say they ‘stand behind our application entirely’.
On behalf of the West Byron developers, the Charliesierra spokesperson told The Echo, ‘The proposal that currently sits with the department for assessment has been refined based on feed- back received in two public exhibition periods and been reviewed by all relevant government agencies.’
Followed process to the letter
‘We have followed the process laid down by the department of planning and infra- structure to the letter.
‘We have engaged comprehensively with key stakeholders including Council, and ask that the proposal be assessed on its merits.
‘We are pleased that the Byron Residents Group is not opposing the proposal on its merits.’
A full reply to the issues raised by the Byron Residents Group – including acid sulfate soils, the koala report and the traffic surveys is available at echo.net.au.
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