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News release

Perth

​​Strategic retail site in Anketell settles for $2.55 million​

A rare retail development opportunity in rapidly establishing southern corridor


PERTH, 28 November 2013 – Jones Lang LaSalle has announced the sale of two prime development sites located about 1km east of the Kwinana Freeway within the southern corridor suburb of Anketell in Western Australia for $2.55 million to a local syndicate. 
The property, negotiated by Jones Lang LaSalle’s WA co-selling agents Sean Flynn and Phil Fogliani, presented an exciting opportunity to buy in early now and benefit from the future growth within the catchment. 

Retail development sites don’t become available all that often and are usually retained by the estate owner for their own development or reserved/sold to one of its related entities.

Mr Flynn said that the purchaser is a local syndicate with many years of land subdivision experience, and a strong track record in delivery. 

The property formed part of a recently endorsed Local Structure Plan (LSP) known as the Anketell South Local Structure Plan. Under the LSP, Lot 2 provides for a mix of R20 (500sqm) to R60 (180sqm) residential lots, Community House and Town Centre zonings with potential for approximately 49 lots.

Lot 3 Thomas Road is earmarked within the LSP for a 14,614sqm retail shopping centre with potential for up to 3,900sqm of net lettable area and the potential bonus of an additional 13 residential lots with a zoning of between R20 and R40.

“This location is currently the focus of a high level of planning activity with Local Structure Plans that included Lots 2 & 3 Thomas Road being set to deliver close to 1,200 residential lots in coming years, and additional land within the greater Casuarina area directly to the south having recently been upgraded to Urban under the MRS,” said Mr Fogliani.