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News release


JLL Offers Exclusive Island Sale at Port Coogee

​​Maraboo Island, located within the award winning Port Coogee Marina Development is for sale by JLL, on behalf of Frasers Property Australia.

​​​Maraboo Island, located within the award winning Port Coogee Marina Development is for sale by JLL, on behalf of Frasers Property Australia.

As the only freehold island landholding in the area, and possibly WA, the Maraboo Island offering comprises 26,575 square metres, with an approximate 19,380 square metre land component and 7,195 square metre water component.

According to JLL’s Director of Sales and Investments WA Sean Flynn, the island offers virtually 360 degrees of amazing water views across the Marina and out to the Indian Ocean.
“Freehold island properties are very rarely seen on the market in WA, so this opportunity is without doubt one which won’t be replicated any time soon. In the current environment it’s more important than ever to be able to delineate your product from the broader market. There’s no doubt this site lends itself to creation of something truly special in the apartment space,” said Mr. Flynn.

“The Island is predominantly zoned ‘Residential R80’ with potential for multiple development options which could include multi-level residential apartments with a potential height of up to 17.3m or five storeys, subject to council approval. There’s also an opportunity to incorporate a future private jetty component to the northern aspect, and the island is situated adjacent to an established marina, which has facilities for approximately 150 vessels, with a future capacity for up to around 300 vessels,” he added.

The residences within Port Coogee are an exclusive mix of opulent homes and apartments, according to Nigel Freshwater, JLL National Director and Head of Sales and Investments for WA. “Figures released by REIWA for the 2015/2016 period clearly illustrate the high value of property in the area, when compared to the Perth Metro median house price. The median house and median land price for Port Coogee was $1,150,000 and $525,000 respectively, compared to the Perth Metro median house and land prices of $531,000 and $265,000 respectively. That’s a significant positive variance of 117% in house prices and 98% in land prices,” said Mr. Freshwater.

“It’s not surprising that the location has attracted some of Perth’s most prominent apartment developers including M/Group, TRG and Stirling Capital, and the arrival of the recently opened Woolworths anchored Port Coogee Shopping Centre further enhances the already high level of amenity of the area,” he added.

Maraboo Island is For Sale by Expressions of Interest closing 2pm (AWST) Thursday, 17 November 2016.