Perth, 7 August 2013-Eighty hectares of prime land adjoining the existing Ravenswood Waters’ subdivision and fronting the Murray River has hit the market, offering a unique development opportunity in one of the fastest growing corridors of Perth.
CBRE’s Ryan McGinnity and David Kennedy are marketing the properties on behalf of a private vendor through an Offer to Purchase campaign. The properties comprise three separate development lots, three houses, stables and other buildings with a solid holding income.
Mr McGinnity said the land, which is zoned Urban under the Peel Region Scheme, held significant development potential.
“The land on offer has the potential to yield approximately 950 residential lots – some of which will have Murray River frontage,” Mr McGinnity said, adding that local selling agents at other nearby subdivisions suggest buyer interest of between 10 to 12 residential sales per month of lots ranging from 300sqm to 500sqm in size.
“This is a development opportunity that can be commenced now, or delayed to take advantage of coming infrastructure including a new shopping centre and primary school within Ravenswood, which will be an added benefit to local residents.”
Mr Kennedy said the properties’ location between Mandurah and Pinjarra would also be a key selling factor.
“Located only 50 minutes from the Perth, many residents may make the daily commute to the CBD via car or rail, while still enjoying a rural set lifestyle,” Mr Kennedy said.
“Alternatively, being only 10 minutes from Mandurah provides easy access to high schools, tertiary education, the Mandurah Forum Shopping Centre and the Mandurah to Perth rail line, in addition to other local amenities.”
The land parcels range in size of 17.47 ha, 26.82 ha and 35.34 ha and feature more than 800 meters of Murray River frontage.
“This is an outstanding opportunity to purchase englobo land adjoining an existing estate, and so potentially avoid the extensive lead-up time that is typically associated with creating residential development infrastructure,” Mr Kennedy added.
Located approximately 85 kilometres south of Perth, Ravenswood lies within the rapidly growing southern corridor.
Offer to Purchase campaign close September 12.
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