THE demise of the grand plan by Crighton Develop-ments to build a retirement village at Eglinton has paved the way for a land sale which may allow another developer to cash in on the burgeoning aged care market in the Bathurst region.
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It was way back in July 2008 that the Central Coast-based Crighton unveiled its $70 million vision for the 25-hectare site off Cox’s Lane.
At the time the company said it chose Bathurst over Orange for the development and that its “lifestyle resort” would include 215 dwellings, most of which would have been stand alone homes.
The plan was to roll out the construction phase over an eight year period with between 12 and 24 dwellings completed annual.
At the time Crighton had envisaged having its development opened in mid-2009.
However, the Global Financial Crisis towards the end of 2008 was to eventually prove the death knell for Crighton in getting investors on board to back their plan.
A series of advertisements running in the Western Advocate in recent weeks describes the site at Eglinton as a “strategic land sale”.
The sale is by expressions of interest to several parties including Jay Cleary of Bathurst Real Estate, closing August 8 at 4pm.
On offer is 30.954 hectares of rural 1(a) and residential 2(a) land across two lots with DA approved for 215 retirement village villas; potential for up to 56 residential lots (subject to council approval); to be sold separately or in one line; under instructions from the receivers and managers.
Mr Cleary said that even though it’s early days for the sale, there has already been a decent amont of interest in the site.
“It’s a good location and has the potential for a range of uses,” he said. “There’s a residential component with 44 lots and potential for another 15 as well as rural.
“There’s still the aged care facility opion as well.
“Or you could grab the rural land and build a house on it and have a small farm. I do know the receiver’s want it sold, so there is a definite opportunity for someone with the cash, but we’re talking a seven figure sum.
“At this stage the preference is to sell the entire site as a parcel, but we are prepared to look at every option.”
It is now history that Crighton Properties went into receivership in April this year.
The company’s group managing director Geoff Cox blamed “constantly changing state planning regulations” and unsympathetic banks for their financial difficulties.
Concerns over the Eglinton development were first raised last year when Mr Cox wrote to all Bathurst councillors outlining the trouble they were having securing finance for the project.
Even then Mr Cox was confident the project would go ahead.
“But it will take a company with deeper pockets than ours and a more sympathetic bank than ours,” he said.