A Perth residential subdivision approved for 119 lots has been listed for sale on the back of recent government stimulus measures announced for residential development.
Lot 808 (1993) Albany Highway, Maddington, is a 5.5ha site with subdivision approval for 62 green title lots ranging from 180sqm to 417sqm, as well as 57 survey strata lots ranging from 180sqm – 207sq. The site is hidden from other residential development by a creek line, creating a small but private residential estate.
The property is situated 17km east of the Perth CBD, in close proximity to both Maddington and Gosnell’s train stations, as well as regional shopping centres and schools.
Mr McGinnity commented: “As an established suburb of Perth, Maddington offers all local amenity that a resident would expect, with regional shopping centers, direct access to public transport and local primary and high schools.”
“Adding to the opportunity are significant refunds available to the developer from the local authority under the City of Gosnells Outline Development Plan (ODP). The ODP requires the provision of additional public open space to be provided, with this additional POS to be compensated under a fixed pricing agreement.
Mr Younger said that the lots would appeal to small and medium developers who are looking to take advantage of the current demand for land with a ready to go subdivision.
“WA has pushed forward quicker than other states in Australia and is currently reaping the investment rewards from the announced government stimulus. We expect genuine interest in this infill opportunity.”
The property is being sold by an Offers Invited Process closing 16 September 2020.
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