Perth, May 11, 2016 –A sizeable 15-hectare land parcel in Wellard has been listed for sale, paving the way for a landmark project in a bourgeoning residential precinct south of Perth.
CBRE’s Michael Milne, Ben Younger and Ryan McGinnity have been appointed to sell the 152,540sqm development site at 176 Woolcoot Road in Wellard via an Offers Invited process.
Located approximately 37 kilometres south of Perth, the site is situated within the Wellard East Local Structure Plan – a precinct that is directly adjacent to the freeway and bounded by Mortimer, Millar and Woolcoot Roads slated for residential development.
Mr Milne said the property represented an outstanding opportunity to undertake a future residential project in a rapidly evolving region.
“A concept plan has been prepared for the land, earmarking 210 lots with an average area of 401sqm each,” Mr Milne explained.
“We expect the location will attract strong buyer interest.”
Mr McGinnity said Wellard East was strategically positioned and had already seen the creation of new contemporary residential communities.
“New residential estates in immediate proximity include Wellard Glen Private Estate by DJ McCormack, Living Edge at Wellard by ABN Group and Amex Group’s Sunrise at Wellard,” Mr McGinnity said.
“Located only 30km south of Perth, Wellard is a modern residential estate for first and second homebuyers. With local amenity including The Village Shopping Centre and the Wellard Train station in close proximity, Wellard is fast becoming a favored outer suburb of Perth amongst residential home owners and developers.”
The Offers Invited campaign closes May 26, 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.