This article is from the Australian Property Journal archive
THE Western Australian government has picked Peet and Perron Group as a development partner a 220ha housing project at Brabham in Perth’s north east.
The project will potentially yield more than 3,000 dwellings, schools, neighbourhood shops and recreational areas and is located close to the proposed Whiteman Park train station.
Minister for Housing Peter Tinley said the Brabham project will be a major transit-oriented development linking the Swan Valley to Perth.
Located 22kms from the CBD, Peet CEO Brendan Gore said the project increases Peet’s exposure to Perth’s north-east corridor and expands the group’s ongoing relationship with the Western Australian Housing Authority.
“Some of Peet’s most successful projects have been undertaken jointly with WA’s Housing Authority, a major provider of affordable land and housing. These include Quattro: The New Queens Park, which saw the revitalisation of a portion of the inner-city suburb of Queens Park; and ongoing projects at Golden Bay in WA’s Peel region and The Village at Wellard south of Perth – the first transit oriented development on Perth’s southern suburbs rail line,” he added.
As part of the Brabham joint venture, Peet will establish a new wholesale fund with the billionaire Stan Perron’s Perron Group to jointly develop the project, with Peet appointed as the development manager.
“The Brabham joint venture will increase the proportion of the company’s land bank held in the Funds Management business and increase the earnings from it.
“We are very pleased to be extending our relationship with WA’s Housing Authority and look forward to finalising negotiations for a contract, which is anticipated by December 2017, with construction commencing in 2019.” Gore concluded.
Australian Property Journal
