This article is from the Australian Property Journal archive
MORE than 38 hectares of land across 30 titles in Perth’s outer northern suburbs will hit the market with approval for 640 residential lots and several grouped housing sites.
KordaMentha has appointed CBRE’s Ryan McGinnity to manage the sale of the 38.43 hectare englobo parcel in Two Rocks.
Together with Eglinton, Alkimos and Yanchep, the area in the north west urban growth corridor is tipped to cater for over 50% of the City of Wanneroo’s population growth in the next 20 years.
McGinnity expects strong interest in the landholding, given the completed residential stock that can be made available for sale immediately and the further subdivision approvals in place.
“The land is expected to appeal to home builders and developers, as well as investors seeking an approved residential development,” he said.
The single titled residential lots will be sold in one-line with, or separate from, the large development parcel via expressions of interest closing 23rd April.
Many offer ocean views, with the land rising from west to east. Perth’s Metronet will ultimately link the northern beachside suburbs to Perth, and the state government will inject $6 million into the upgrade of the nearby Two Rocks Marina.
Australian Leisure and Hospitality Group’s purchase of the local tavern at Two Rocks in mid-2019. McGinnity said this was a reflection of a growing trend, with other retail groups and developers also looking to gain footholds in the area.
