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Rarely available, approved and ready to go subdivision hits the market.
PERTH, 1 August 2013 – A strong response from residential developers is expected for a boutique development site being the extension of Byford Central Estate.
Lot 9016 Thomas Road, Byford has a current conditional subdivision approval from the West Australian Planning Commission for approximately 66 residential lots and covers an area of approximately 6.4 hectares.
Jones Lang LaSalle’s Director of Sales and Investments Phil Fogliani said the property formed an extension to the existing and well established Byford Central Estate which is estimated to already have approximately 550 established homesites.
According to Mr Fogliani, one of the development’s greatest attributes was its high proportion of R20 blocks. With many of these being 500sqm or more in size they are perfectly placed to meet the demand for larger home-site blocks within the Byford market.
“Residential development sites that are this far advanced in their planning and approvals don’t become available all that often, even less so when they comprise part of a well established and popular residential estate,” said Mr Fogliani.
“The offering will be suitable for a wide range of potential purchasers from traditional developers, builders and smaller syndicates who want to buy a project where they can ‘activate’ development and benefit from the immediate returns.”
According to statistics from the Shire of Serpentine-Jarrahdale, Byford is expected to have a substantial increase in population at an average annual growth rate of 6.88 percent.
“The past success of the previous stages of Byford Central are testament to the popularity of the location and anticipated population growth,” said Mr Fogliani.
The Expressions of Interest period for Lot 9016 Thomas Road, Byford closes 3pm on Tuesday 27th August 2013.
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