Perth, 24 March 2016 –Western Australian development firm Aigle Royal Developments has secured a presence in one of Perth’s fastest growing residential hubs, with the purchase of a North Baldivis landholding for $10.3 million.
CBRE’s Ryan McGinnity and Michael Milne negotiated the sale of the 15.11 hectare site at 311 Fifty Road via an Offers to Purchase campaign.
The prominent land parcel benefits from a strategic corner location intersecting Eighty Road and is enveloped by a neighbouring residential estate development.
CBRE Director, Ryan McGinnity, said Aigle Royal Developments’ acquisition marked an exciting time for the Baldivis region.
“Baldivis has emerged as one of Perth’s most sought after residential hubs, home to one of the city’s fastest growing populations and ongoing development, which will continue to cement its presence as a leading lifestyle destination,” Mr McGinnity explained.
“Aigle Royal’s acquisition of this 15 plus hectares offers them an immediate developable footprint in this expanding suburb.”
Aigle Royal Developments General Manager, Brad Brashaw, said the purchase represented another outstanding opportunity in the firm’s growing residential development portfolio.
“With several other land developments underway in Baldivis at present, this property is at the perfect stage of the approval process, and provides our group with an opportunity to deliver a high quality, affordable estate in one of Perth’s highest growth areas,” Mr Brashaw said.
Mr Milne added the property, which recently achieved structure plan approval from the WA Planning Commission, represented a unique opportunity to undertake a landmark residential development.
“Located directly opposite the Baldivis Primary School and surrounded by a new estate development, this property is further enhanced by the recently completed expansion of the Stockland Baldivis Shopping Centre, which includes the major supermarkets and multiple discount department stores,” Mr Milne said.
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.