310 Bernard Road North, Carabooda sells for $2 million following competitive buyer interest.
A shovel-ready development opportunity in Perth’s evolving north metro suburb of Carabooda has transacted for $2,000,000. The property sold with an approved development application for a service station and convenience store development fronting the arterial Wanneroo Road in Perth’s northern growth corridor.
Colliers, Investment Services Executive, Aidan Austen and State Chief Executive Richard Cash brokered the deal, selling the opportunity on behalf of a valued private family.
The opportunity attracted multiple formal offers with strong interest from developers and fuel retailers. The property has been acquired by a fuel operator who is keen to develop the site imminently, taking advantage of its approved development application underpinned with its prominent location in Perth north.
Mr Austen said “The derisked nature of the opportunity allowed buyers to price the opportunity with minimal constraints. The site’s existing development approval provided confidence to purchaser, offering a de-risked opportunity supported by strong population growth and increasing traffic volumes in the area.”
Mr Cash added “The sale of 310 Bernard Road North demonstrates the strength of the fuel and convenience sector from both a developer and fuel retailer perspective. It is rare for these sites to be offered to market with an approved DA in place, allowing for speed to market for the expanding fuel retailer in a competitive growth corridor.”
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