One of the northern beaches’ largest landowners, Eglinton Estates, is moving to sell 86ha of residential englobo development land in Perth’s rapidly expanding north-west urban growth corridor.
Zoned Urban under the Metropolitan Region Scheme and Urban Development by the City of Wanneroo, the site is expected to yield more than 1,100 residential dwellings, with a current WAPC conditional subdivision approval in place for a portion of the site for 274 residential lots plus a neighbourhood commercial centre fronting Marmion Avenue.
Current forecasting suggests more than 26,000 residential lots will be sold from Alkimos to Two Rocks between now and 2041, with the area expected to attract an additional 150,000 residents.
Lot 801 Marmion Avenue, Eglinton is one of the few englobo sites fronting existing residential subdivisions that is immediately ready for development with WAPC approval in place.
Boasting an extensive frontage to Marmion Avenue and immediately south of the under-construction Eglinton Train Station and Metronet rail line, the 86ha site adjoins the Perth to Yanchep Rail extension.
CBRE’s Ryan McGinnity and David Molony of McGees Property have been appointed to sell the residential subdivision by a Formal Offers to Purchase process closing 3pm (AWST) Thursday 28th October 2021.
“Demand for housing in the corridor is growing exponentially and, with significant infrastructure being delivered, now was the ideal the time to offer this land to the market,” Mr McGinnity said.
“Only minutes to Eglinton Town Centre and offering some of the best ocean views in the region, Lot 801 will be one of the most desirable estates in the corridor,” Mr McGinnity added.
Mr Molony said, “This site offers considerable development potential and coupled with its location and access to transport options, it is expected to attract significant interest from local, national and international development groups.”
“The North West corridor is currently experiencing unprecedented infrastructure spend including the Yanchep Rail extension at $531 million and the Mitchell Freeway extension to Alkimos at $215 million. These works, together with the establishment of facilities on the ocean at Eglinton and Alkimos will underpin further population growth in the corridor” added Mr Molony.
The subdivision is 42km north of Perth and is bordered by notable national development groups including Amberton Beach, Elavale and Shorehaven Estates.