Prized Mandurah development site offered to the market

Perth, April 20, 2016 – A 12,000sqm footprint in one of Mandurah’s most sought after precincts has been listed for sale.

CBRE, in conjunction with Raine & Horne Mandurah, has been appointed to sell the significant lead corner development site, which is strategically situated opposite Primewest’s Erskine Central Shopping Centre.

Located at the corner of Old Mandurah Road and Oakleigh Drive, Erskine, the 12,112sqm land parcel consists of three titles, comprising a main corner site of 9,914sqm and two smaller sites of approximately 1,100sqm each.

CBRE’s Michael Milne and Ben Younger, along with Raine & Horne’s Peter Vetten, will conduct the sale campaign via a formal public Offers Invited process.

Zoned for Mixed Use, Residential R40, Medical Centre and Retirement Village R80, the land also holds potential for a broad range of other commercial, retail and higher density residential classification uses (STCA).

Mr Milne said the property’s size and development potential was expected to attract strong buyer interest.

“Benefitting from such a prominent corner location and versatile range of use, this property will appeal to a broad range of buyers including developers, medical groups and aged care providers,” Mr Milne explained.

Mr Vetten said the unique opportunity presented by the property would be a key selling factor.

“Seldom does a landholding of this calibre and positioning present for sale locally. We anticipate interest from local developers and buyers from further afield,” Mr Vetten said.

The Offers Invited campaign closes May12, 2016.

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About CBRE Group, Inc.

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.