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Owners call for expressions of interest on 40.5ha ‘grandstand’ oceanside site
Perth, 16 October, 2012 – The long-awaited
development of Western Australia’s exclusive Smiths Beach oceanfront site has
taken another step forward with the decision by its syndicate of owners to sell
or joint venture the land.
Located about three hours’ drive south of
Perth, the unique property commands a grandstand view of the Indian Ocean and
is being offered through an international expression of interest campaign being
conducted by exclusive agents, Jones Lang LaSalle.
Acquired in 1987 by a syndicate of
individual investors, the site has a Development Guide Plan approved by the Busselton
City Council and the WA Planning Commission. The development of the property
has also received the formal approval of the Federal and State environmental
Jones Lang LaSalle Head of Sales and
Investments, Nigel Freshwater, said the elevated property was unique in terms
of the Cape to Cape nodal plan, combined with its northerly aspect and
proximity to the family friendly sheltered beach and quality surf breaks.
“The site is covered by the Leeuwin
Naturaliste Ridge Statement of Planning Policy under which it is designated as
a tourist node with a residential development ratio of 70 per cent tourism and
30 per cent residential.
“As the jewel of the Cape to Cape Coastal
strip it is the only available site permitted for this kind of development and
by any standards the most outstanding integrated development site in Western
Australia. Its location, amenity and features put it in a similar class to
Byron Bay, Coffs Harbour, Lorne and Noosa Heads.
addition to its own high quality surf and safe swimming beach, it is just over
5km from the legendary Yallingup surf break and sits on the northern boundary
of the world famous Margaret River Wine region,” he said.
Mr Freshwater said that based on the
current approvals the property comprised a net development area of 19.11ha with
a proposed national park extension of 21.38ha and features an elevation ranging
from 4m to 58m.
He said that although the original concept
for the site had envisaged a predominantly residential development with some
tourism accommodation, a subsequent review led the syndicate to expand the
property’s quality short-stay tourism focus.
“The current plan indicates a range of
dwelling types on the site including up to 61 single residential lots from
430sqm to 701sqm, four R25 grouped sites totalling 21 units, seven short-stay tourism lots ranging in size from
6,089sqm to 1.0234ha which can be developed at 40 units/ha and a resort site of
3.3418ha which can be developed at 80 units/ha. There is also provision for
freestanding retail floorspace to service the new settlement,” said Mr
The site is zoned Tourism, Residential and
Reserve for Recreation and has been under formal consideration by various
agencies for more than 10 years. It has achieved all of the required statutory
approvals from Federal, State and local government agencies. Formal subdivision
approval is pending.
Jones Lang LaSalle Director of Sales and
Investments WA, Phil Fogliani said he expected the property to command the
attention of a broad cross section of developers as well as private investors
and high net worth individuals.
Mr Fogliani said that formal subdivision
approval was now at an advanced stage of negotiation with the WA Planning
Commission via a review process under the direction of the State Administrative
“Current plans include a high-star 3.34ha
beach club style resort covering the lower portion of the property with the
tourist lots and residential component occupying the most elevated portion of
the site. The residential precinct will have direct access to the beach via a
central lineal pedestrian walkway.
“A development guide plan has been
approved with pending conditional subdivision approval, along with approvals
for the Strategic Environmental Assessment, Environmental Protection and
Biodiversity, and Fire Management Plan,” he said.
Mr Fogliani said the site’s planning
status and its attractiveness to consumers looking for a South West residential
lifestyle location provided the option of progressing the development process,
or land banking to maximise future residential and tourist demand with mooted
plans for the expansion and upgrade of the nearby Busselton airport.
“Additionally, several members of the
syndicate have indicated an interest in continuing their involvement with the
site and are prepared to consider joint venture proposals,” said Mr Fogliani.
He noted that interest in tourism oriented
developments had been heightened by recent promotion of the State Government’s
Elizabeth Quay project in Perth’s CBD.
“Both the Elizabeth Quay and Smiths Beach
projects comprise a range of outstanding world class attributes and features
thus there is an expectation of strong interest; these quality opportunities
are rarely available,” he said.
of interest close at 3pm (WST) on Wednesday 28 November 2012.
61 Residential Lots
430sqm – 701sqm
4 Grouped Dwelling sites (approx. 21
7 Tourism lots
6089sqm – 1.02ha
(including ancillary floor space)
+61 8 9322 5111