This article is from the Australian Property Journal archive
SUBIACO-based QUBE has entered a 50% joint venture with its new acquisition in one of Perth’s fastest growing rural regional suburbs in the City of Swan.
The 491-hectare parcel of land is zoned Landscape and has been earmarked for development, the future estate of Yarrimbah Heights will be divided into 173 lots.
Backed by BNI Group, QUBE has entered a joint venture with the existing landowners, the Park family, and McRae Investments Pty Ltd.
With the Park family, who have farmed the Bullsbrook land for the past six decades, planning to continue farming on the land that hasn’t been earmarked for development.
“The site’s elevated location with views back to the city, across to the Walyunga National Park, west to the coast and north to the hills is one of its key selling points as is the access to the growing Bullsbrook town centre, Tonkin Highway and the city,” said Mark Hector, managing director at QUBE.
“It’s also located in close proximity to the soon to be opened Stock Road, making it incredibly accessible while retaining its semi-rural appeal.”
Future homesites on the land will span two-hectares at minimum and provide a mix of open parkland cleared sites with a large number of elevated, scarp side lots.
A limited first release of 18 lots scheduled for release in September, with Stage One lots to be priced from around $395,000.
“Bullsbrook is an increasingly popular location for those seeking the sort of acreage to enable them to build their dream home, complete with space for their toys but still within easy reach of the city,” added Hector.
According to a three-year data analysis by KPMG, the City of Swan is the fastest growing region in Western Australia and the ninth fastest in the country, with a population increase of 15,600 since 2019.
Bullsbrook is also one of Perth’s top ten best performing suburbs with annual sale price growth of 16.9%, up from 11% last year for a median sale price of $450,000.
“The WA economy remains robust with strong population growth recorded in WA with continued low unemployment levels,” said Hector.
“The estate is considered to be at the premium end in terms of lifestyle estates and will appeal to buyers seeking a more relaxed, semi-rural lifestyle but with excellent access to existing amenities and infrastructure.”
