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News release

PERTH

International EOI campaign launched for Moore River South 70km north of Perth

The largest coastal master-planned approved development site with ocean frontage currently offered in the WA market


​One of Western Australia's largest master-plan approved development sites covering 2,099ha (5,187 acres) is to be the focal point of a major international expression of interest campaign by JLL on behalf of the Moore River Company Pty Ltd (MRC) in the coming weeks.

The Moore River South site is located in one of the state's most pristine coastal locations about 70km or around one hour north of Perth.

The property is being exclusively marketed by JLL Directors of Sales and Investments WA Philip Fogliani and Sean Flynn.

"This property is the largest coastal master-planned approved development site with ocean frontage currently on the market in Perth and we believe one of the largest englobo residential coastal development sites ever offered in Western Australia in recent years," said Mr Flynn.

"The Moore River South project area is located north of Two Rocks and south of Guilderton, where the Moore River meets the Indian Ocean. This land is just north of the existing metropolitan area boundary and is about one hour's drive from Perth's CBD. This unique position delivers the site a breathtaking 5.7km ocean frontage and picturesque 1.9km Moore River frontage, and the current planning framework incorporating substantial public open space and foreshore reserves take full advantage of these outstanding features," he said.

"This is a generational development opportunity the likes of which are rarely seen in Australia, let alone Western Australia. Consequently, we anticipate a strong response from both local and international developers and investors."

The site has been owned by the Moore River Company for some 54 years and reportedly grazed for many years before that, and therefore offers the buyer ongoing use and utility during residential development activities over the current subdivision approval area.

"The site is offered complete with approved Outline Development Plan covering about 452ha reflecting attractive residential, tourism and town centre retail/commercial uses, and a further 104ha of designated future development land," said Mr Fogliani.

"The current subdivision approval is in place for 1,938 lots which will accommodate around 5,000 future residents, leaving about 201ha zoned for 'Future Development'," he said.

The site benefits from strategic positioning adjoining Perth's high growth northern corridor, which is forecast to increase in population by over 180,000 people by 2036, and over 388,000 by 2050.

 "Future designated land supply in the northwest corridor can, on the face of it, accommodate the anticipated forecast growth in population over the longer term," said Mr Fogliani.

"However, the scale of population growth in combination with existing and inevitable supply side constraints in releasing urban and urban deferred land in the area means Moore River South will be strategically positioned to meet some of the demand for  prime coastal residential dwellings to be released in  the 1,938 lot subdivision area contained within the approved Outline Development Plan."

According to Mr Fogliani, the future beach estate is perfectly positioned to tap into and attract a portion of the anticipated huge population growth in the northern corridor.

"The pristine coastal location and unique lifestyle afforded by the approved ODP and Subdivision at Moore River South will also undoubtedly attract demand from residential buyers outside of Perth's northwest corridor.

 "There is truly no comparable offering in the WA market today at this scale and with this level of planning attached around an hour from the Perth CBD.

"The Moore River Company has invested a great deal of time, effort and money into securing the Outline Development Plan and Subdivision Approval, and an incoming owner will certainly benefit from the seller's meticulous efforts," he said.

The property is currently operated as a cattle farm and can be sold with all plant, equipment and stock in order to continue operations.

International Expressions of Interest close 2.00pm (WST) Wednesday, 22 October 2015.