$4M Cash Sale Secured for Prime Hammond Park Site

2.33-hectare site in Hammond Park that was being hunted down by developers has achieved a $4 million cash sale price in what’s believed to be a record for the area.

Specialist property development services firm Effective Property Solutions (EPS) listed the land at 466 Wattleup Rd in August last year on behalf of private landowners.

“The sale of this property in the heart of Hammond Park, which had been owned by a local family for 40 years, attracted national and international exposure and eight offers from established developers,” explained EPS’ Head of Property Investment Ollie Salimi.

“The successful buyer is an overseas based vertically integrated building and development company.

“The plan is to use the site for residential development to meet strong demand for homes in this flourishing southern Perth suburb that’s a major growth corridor.”

Mr Salimi said the seller was thrilled to finally secure a sale of the prime urban infill site after a number of unsuccessful efforts. 

“This family had fielded many approaches by developers over a decade and had listed the land on this prominent road twice before, however, it was only on this third attempt that the sale got over the line with all parties,” he said.

“It proved worth the wait with the price exceeding the sellers’ expectations by 20 percent.”

The property includes a double brick home with four bedrooms, two bathrooms and a semi-detached two-bedroom granny flat.

This latest sale follows the offloading of a portion of the initial four-hectare site to make way for the extension of Hammond Rd.

The land is zoned ‘Development’ (R50, R60, R80 and Local Centre) under the City of Cockburn’s Town Planning Scheme and ‘Urban’ under the Metropolitan Region Scheme.