Perth

Developer nabs 2.2ha Camillo site

Perth-based Progress Development has purchased a 2.1906ha land parcel in Camillo to the city’s south east.

22 Jan 2020

Perth-based Progress Development has purchased a 2.1906ha land parcel in Camillo to the city’s south east.

It secured 3 Westfield Road for $1.5 million, with plans for a childcare centre and housing along Railway Drive.

Approximately 25km from Perth, Camillo is a high-growth area with public transport links, near the proposed Kelmscott Town Centre and open spaces including the Champion Lakes Regatta Centre. 

The land parcel is well located within walking distance from the Kelmscott train station, established primary and secondary schools and sporting facilities. 

Under the site’s R15/40 zoning, 26 large residential blocks are set to accompany a childcare centre on the lead corner. 

The residential lots will suit buyers seeking large family sized 587sqm lots or smaller developers and investors wanting to develop duplex-style housing.

CBRE’s Michael Milne and Ben Younger managed the sale on behalf of appointed receivers Deloitte.

“There are significant signs of improvement in the Perth land development sector,” Mr Milne said.

“Buyers such as Progress Developments are recognising the forecast growth and we are experiencing increased demand and sales activity.”

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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.